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:

bloom-and-wild listed on couponmatrix.ukfrankie-and-benny-s listed on couponmatrix.ukoxfam-online-shop listed on couponmatrix.uksaw-experience listed on couponmatrix.uktu-clothing listed on couponmatrix.ukwhistles listed on couponmatrix.uk
bloom-and-wild listed on couponmatrix.ukShow you care with a beautiful bouquet from Bloom & Wild. If you want a quick, simple way to send flowers - be it a colourful collection of peonies and roses or larger blends of white lilies, altitude roses and lisianthus - you'll find the perfect pick with this great selection. Make the most of a Bloom & Wild voucher from us and save on a gorgeous bunch for that special someone.
frankie-and-benny-s listed on couponmatrix.ukDiscover delicious Italian American food for any occasion with Frankie & Benny’s. With a menu chock-full of hearty breakfasts, quick lunch bites and comforting main meals, Frankie & Benny's make it easy to celebrate or catch up with friends, and stop hunger in its tracks. The whole family can save with your Frankie & Benny’s voucher with loads of delicious meals for all ages. You'll also find plenty of vegan and gluten free options too - so a dietary requirement won't stand in your way! Do things your way by customising your own pizza or burger, or pick from an amazing range of Frankie & Benny classics and allow the experts to take care of the details.
oxfam-online-shop listed on couponmatrix.ukCharity shopping is a great way to save money on some gorgeous clothes, shoes, books, CDs, and so much more, whilst feeling good about yourself for contributing to some amazing causes. Now, thanks to Oxfam Online, you can enjoy all the benefits of charity shopping from the comfort of your own home. With your Oxfam discount code at the ready, you can find all the products you would expect in your local Oxfam shop for even less, so you can bag a great deal and contribute to charity at the same time!
saw-experience listed on couponmatrix.ukInspired by the grisly film francise, SAW: Escape Experience is London’s most spine-chilling escape room yet! Situated in the heart of London on America Square, Jigsaw invites you to participate in his latest games, where you’ll pit your wits against puzzles and moral dilemmas to win your key to freedom. This one isn’t for the faint of heart, so expect jump-scares, flashing lights and theatricality at every turn. No walk-ins are allowed, so secure your tickets with a SAW Experience London promo code from Groupon. Whether you’re playing with friends, colleagues or strangers, the SAW Experience is guaranteed to get your heart racing and test your moral fibre.
tu-clothing listed on couponmatrix.ukDiscover the Tu clothing range at Sainsbury’s and stock up on affordable yet fashionable styles that will breathe fresh life into your wardrobe. Help yourself to a Tu discount code from us to update your everyday denim or some new rompers for the kids. With plenty to choose from for men, women and children alike, you can kit out the whole family in one fell swoop when you shop with Tu.
whistles listed on couponmatrix.ukDress yourself to the nines in the timeless womenswear from Whistles and add a touch of understated glamour to your everyday look. Snap up a Whistles discount code from us to revamp your wardrobe with beautifully-designed pieces, created to suit the modern woman’s lifestyle. With an emphasis on quality and longevity, the Whistles collection offers apparel that’s built to last. Whether you’re looking for a fierce look for the office or a statement piece for Saturday night, Whistles will cover your back.