Brazil Prepaid Card and Digital Wallet Business Report 2023: A …

Dublin, April 04, 2023 (GLOBE NEWSWIRE) — The “Brazil Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend – Q1 2023 Update” report has been added to ResearchAndMarkets.com’s offering. The prepaid card market (value terms) in Brazil increased at a CAGR of 7.5% during 2018-2022. Over the forecast period of 2023 to 2027, the market is expected to record a CAGR of 12.9%, increasing from US£23.57 billion in 2022 to reach US£44.01 billion by 2027.

Brazil is leading the digital payment revolution in the Latin American region. The Brazilian government is promoting the growth of the prepaid card market through Pix, the instant payment platform launched by the central bank. Along with the growing transaction volume in the online segment, prepaid payment instrument penetration has also increased in the brick-and-mortar sector in 2022.

Innovative fintech firms and strategic collaborations with global payments providers are driving the growth of the prepaid card market in Brazil, and the trend is projected to further continue from the short to medium-term perspective. Furthermore, the investment from venture capital and private equity firms into the Brazilian fintech ecosystem will support the industry growth over the next three to four years. New regulation on prepaid card interchange fees is expected to dampen revenue growth for fintech firms in Brazil

In September 2022, the Brazilian central bank announced a 0.7% limit for interchange fees on a prepaid cards that are provided by fintech firms to their users in the country. The new regulation, which is expected to come into effect in April 2023, is a major setback for the growing prepaid card industry in Brazil. At present, there is no limit set on prepaid card interchange fees.

For fintech firms interchange fees on the prepaid card represents a major chunk of their revenue. Nubank, one of the leading prepaid card providers in the country, earned 7% of its total revenue through interchange fees during the financial year that ended June 30. According to the firm, the overall revenue for the firm would have been affected by 2.9%, if the central bank enforced the cap during the year.

PagSeguro Digital and Inter & Co are among the other players that will be impacted due to the cap on interchange fees on prepaid card transactions. Notably, conventional banking institutions pressed the central bank to set a cap on interchange fees, amid the rise of fintech firms in the country. The bank’s debit card interchange fees will be capped at 0.5% per transaction under the new regulations announced by the central bank.

While the move will encourage more retailers and merchants to accept prepaid card payments, thereby driving transaction volume and value, it is will have a significant impact on the revenue of fintech firms. Payment providers are seeking to boost financial inclusion through prepaid card launches in Brazil Brazil is leading the Latin American digital payment revolution.

Amid the growing shift to digital payment solutions, payment providers are launching innovative prepaid payment instruments. For instance, In November 2022, AstroPay, the online payment solution provider, announced that the firm had entered into a strategic alliance with Mastercard.

Under the partnership, the two firms have launched a prepaid card solution in Brazil, thereby allowing consumers to pay wherever Mastercard is accepted. In December 2022, Pay4Fun, the leading e-wallet service in Brazil, announced that the firm has also launched a prepaid card solution in partnership with Pomelo. The prepaid card aims to drive financial inclusion in the country, and consumers can use the payment method around the world.

With the demand for such prepaid payment instruments growing among consumers, the publisher expects more such launches in the Brazilian market from the short to medium-term perspective. Fintech firms are raising capital to further drive financial inclusion among young Brazilians To teach young Brazilians about financial independence and drive financial inclusion, fintech firms target teens and Gen Z consumers.

These firms are also raising capital to further accelerate their growth. In August 2022, NG.CASH, a fintech firm based in Brazil, announced that the firm had raised US£10 million in a seed funding round, which was led by Andreesen Horowitz and Monashees. The firm, which provides a mobile wallet and prepaid card to young Brazilians aged 10 – 24, is planning to use the capital to further accelerate its growth while driving financial inclusion in the country.

As of August 2022, the firm already has a strong user base of 900,000. The publisher expects the firm to further raise a funding round over the next three to four years. However, NG.CASH is also expected to experience a decline in its revenue due to the interchange fee cap introduced by the central bank in Brazil.

Scope Brazil Digital Wallet Market Size and Forecast

  • Transaction Value Trend Analysis
  • Transaction Volume Trend Analysis
  • Average Value per Transaction

Brazil Digital Wallet Market Size and Forecast by Key Segments

  • Retail Shopping (Value, Volume, Avg. Value)
  • Travel (Value, Volume, Avg.

    Value)

  • Entertainment and Gaming (Value, Volume, Avg. Value)
  • Restaurant (Value, Volume, Avg. Value)
  • Recharge and Bill Payment (Value, Volume, Avg.

    Value)

Brazil Prepaid Card Industry Market Attractiveness

  • Load Value Trend Analysis
  • Transaction Value Trend Analysis
  • Transaction Volume Trend Analysis
  • Average Value per Transaction
  • Number of Cards

Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop Market Share Analysis by Prepaid Card Categories

Brazil Open Loop Prepaid Card Future Growth Dynamics

  • Transaction Value Trend Analysis
  • Transaction Volume Trend Analysis
  • Average Value per Transaction
  • Number of Cards

Brazil Closed Loop Prepaid Card Future Growth Dynamics

  • Transaction Value Trend Analysis
  • Transaction Volume Trend Analysis
  • Average Value per Transaction
  • Number of Cards

Brazil Prepaid Card Consumer Usage Trends

  • By Age Group
  • By Income Group
  • By Gender

Brazil General Purpose Prepaid Card Market Size and Forecast Brazil – Gift Card Market Size and Forecast

  • Gift Card Market Size and Forecast by Functional Attribute
  • By Open Loop Gift Card
  • By Closed Loop Gift Card
  • Gift Card Market Size and Forecast by Consumer Segments
  • By Retail Consumer Segment
  • By Corporate Consumer Segment
  • Gift Card Market Share Analysis by Retail Categories
  • Gift Card Market Share Analysis by Gifting Occasion
  • Gift Card Market Share Analysis by Purchase Location

Brazil Entertainment and Gaming Prepaid Card Market Size and Forecast Brazil Teen and Campus Prepaid Card Market Size and Forecast

Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute

  • By Open Loop Teen and Campus Prepaid Card
  • By Closed Loop Teen and Campus Prepaid Card

Brazil Business and Administrative Expense Prepaid Card Market Size and Forecast Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments

  • By Small Scale Business Segment
  • By Mid-Tier Business Segment
  • By Enterprise Business Segment
  • By Government Segment

Brazil Payroll Prepaid Card Market Size and Forecast Payroll Prepaid Card Market Size and Forecast by Consumer Segments

  • By Small Scale Business Segment
  • By Mid-Tier Business Segment
  • By Enterprise Business Segment
  • By Government Segment

Brazil Meal Prepaid Card Market Size and Forecast

Meal Prepaid Card Market Size and Forecast by Consumer Segments

  • By Small Scale Business Segment
  • By Mid-Tier Business Segment
  • By Enterprise Business Segment
  • By Government Segment

Brazil Travel Forex Prepaid Card Market Size and Forecast Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments

  • By Retail
  • By Small Scale Business Segment
  • By Mid-Tier Business Segment
  • By Enterprise Business Segment
  • By Government Segment

Brazil Transit and Tolls Prepaid Card Market Size and Forecast Brazil Healthcare and Wellness Prepaid Card Market Size and Forecast

Brazil Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast Brazil Fuel Prepaid Cards Market Size and Forecast Brazil Utilities, and Other Prepaid Cards Market Size and Forecast

For more information about this report visit https://www.researchandmarkets.com/r/63eqjd

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data.

We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Tags:

betfair listed on couponmatrix.ukcassart listed on couponmatrix.ukfacetheory listed on couponmatrix.ukmiller-and-carter listed on couponmatrix.ukribble-cycles listed on couponmatrix.ukrorita listed on couponmatrix.uk
betfair listed on couponmatrix.ukAn honest wager may just be your winning ticket at Betfair, the betting man’s hub for sports, casino games, cards and bingo. With hundreds of live events, games and variable bingo boards to test your luck against, you’ll want a Betfair promo code handy to maximise your potential winnings and come out even further on top. From the last wickets of a test match to the final spin of the roulette wheel, chase the thrills you enjoy best with Betfair.
cassart listed on couponmatrix.ukCass Art first opened its doors back in 1984 and with a history of art in the family dating back to the ‘20’s it is safe to say that when it comes to the best art materials and advice, they know a thing or two. Whatever way your art leads you, a Cass Art discount code from Groupon will help you save when stocking up on the essentials. Get creative for less with Cass Art today.
facetheory listed on couponmatrix.ukAllow the facetheory beauty range to get under your skin with its simple yet highly effective products that don’t cost the earth. Scroll your way to a facetheory discount code from us to cut the cost of skin-perfecting lotions and potions, designed to suit a wide range of needs. Whether you’re looking to hydrate, exfoliate or simply capture a sunkissed glow, facetheory offers clean formulas that actually work for wallet-friendly prices.
miller-and-carter listed on couponmatrix.ukSend yourself straight to food heaven with the premium cuts of beef offered by your local Miller & Carter Steakhouse. Browse our Miller and Carter vouchers to lower the price of an alluring steak supper, sourced from sustainable British and Irish farms, washed down with a glass of elegant, flavoursome wine. With a variety of menu options to choose from, including gluten-free, vegetarian and meals for younger guests, you’ll find something delectable for all the family when you visit Miller & Carter.
ribble-cycles listed on couponmatrix.ukHit the road on a two-wheeled steed to be proud of and pick up a specialist bike from Ribble Cycles. Not only can you use your Ribble discount code on a trusty bike, cycling apparel and components, but you could even cut the cost of a custom built bike, created to your exact specifications. Featuring all the best brands in the business to pimp your ride to the max, you can stay on top of your cycling game at Ribble for a very affordable price.
rorita listed on couponmatrix.ukIf you're looking for fashionable and affordable women's clothing, Rotita UK is the perfect place for you. Offering everything from head-turning beachwear to plus-size dress solutions, with a Rotita UK discount code you can secure savings on possibilities as wide as your wardrobe. So browse the clothing deals we have on offer today to see which threads can be made yours for a fraction of the price. At Groupon, we believe that everyone deserves to look and feel their best. That's why we work hard to find the best discount codes for Rotita UK, so you can save as much as 60% on the clothes you love. Whether you're looking for a new swimsuit for your next vacation or a stylish dress for a special occasion, Groupon has got you and your clothing collection covered. If you're looking for a new summer dress, Rotita UK has a great selection to choose from. With everything from maxi dresses to Floral print options, you're sure to find the perfect dress for any occasion that can be discounted further with our latest Rotita UK vouchers. You’ll also find a great selection of plus size dresses for the big and beautiful customer. So browse our collection today and find the perfect dress for less.