Prepaid card market in BRIC countries to see healthy growth by 2016

Prepaid card market in BRIC countries to see healthy growth by 2016: report

BBR Staff WriterPublished 04 July 2012

Prepaid card market in the BRIC countries is expected to see healthy growth over the next four years, according to a BRICdata report.

During the review period, China was the largest prepaid cards market among the BRIC countries, followed by Russia, India and Brazil.

In 2011, the Chinese prepaid cards market valued over $160bn while Russian prepaid card market registered a CAGR of 61.26% during the review period.

Over the forecast period, India's prepaid card market is expected to increase at a CAGR of 39.68%.

According to Associacao Brasileira das Empresas de Cartoes de Credito e Servicos (ABECS), the total number of credit cards in Brazil increased by 13% during 2011, to reach over 170 million at the end of the year, while the number of debit cards increased by 7%.

Indian prepaid cards market is highly consolidated among three companies namely Axis Bank, ICICI Bank and Itz Cash Card which accounted for a share of 73% of the market value in 2011.

According to the report, Chinese retailers and Chinese public transport corporations are the leading providers of prepaid cards.

The full report 'Market Opportunities and Emerging Trends in the Prepaid Card Market in BRIC Countries' is available from BRICdata.