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Dublin, March 14, 2022 (GLOBE NEWSWIRE) — The “Data Book on Business and Investment Opportunities of Prepaid Cards and Digital Wallets in Brazil – Market Size and Forecast, Consumer Attitude and Behavior, Retail Spending” report has been added to from ResearchAndMarkets.com offer.

The prepaid card market (by value) in Brazil grew at a CAGR of 8.7% during the period 2017-2021. During the forecast period from 2022 to 2026, the market is expected to register a CAGR of 13.7%, growing from US$23.57 billion in 2022 to US$39.37 billion by 2026.

The Brazilian prepaid card market recorded significant growth in 2021. The global pandemic fueled this substantial growth in the prepaid card segment. With more people staying at home and resorting to e-commerce during the Covid-19 pandemic, the use of prepaid cards for online transactions has increased dramatically.


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Brazil has seen many fintech innovations that have further improved cashless payments in the country. With the increasing digitization of the payment system, the prepaid card market has also experienced strong growth. The publisher expects the trend to continue in Brazil over the next four to six quarters, resulting in stable consumer adoption of prepaid cards.

Digital Wallets and Remittance Providers Expand Business in Brazil

With the growing expat community in Brazil, global payment providers are expanding their operations in the country. Companies are launching alternative banking solutions to meet the needs of people living and working outside the country in regions such as the United States, Italy, Portugal and Spain, as well as to support immigrants who will settle in Brazil.

  • In December 2021, Sokin, a London-based fintech, launched its global currency account and prepaid debit card in Brazil for its residents and expat community.
  • Customers are allowed to receive and send money and access a profitable currency exchange in 38 currencies for a monthly fee. Notably, consumers can do all of this through Sokin’s digital wallet.

With the growing number of Brazilian expats, products targeting these segments are expected to drive prepaid card usage in the country over the next four to eight quarters.

Global Digital Asset Exchange Entering the Brazilian Market with the Introduction of the Visa Crypto Card

Cryptocurrencies are gaining popularity around the world. In Brazil, the demand for cryptocurrencies has increased significantly over the past six to eight quarters. Additionally, in November 2021, the Brazilian government proposed a bill to legalize cryptocurrency in both the public and private sectors. Therefore, the publisher expects the government’s initiative to encourage fintech companies to launch their products in Brazil in the short to medium term.

  • In November 2021, Hong Kong-based digital asset exchange crypto.com began issuing Visa crypto cards for residents of Brazil.
  • These cards are prepaid in nature and need to be topped up via fiat or cryptocurrencies.
  • Decentralization allows the use of these Visa crypto cards to convert tokens into currencies of individual geographies.
  • The card can also be used to withdraw cash at ATMs or Point of Sale (PoS).
  • Additionally, cardholders will enjoy offers of up to 8% back on spending, access to the airport’s LoungeKey lounge and full subscription discounts for Spotify, Netflix and Amazon Prime.
  • Notably, Brazilians must pass an approval process after applying for the card, and eligible users will receive a virtual card after authorization.

Partnerships to launch meal cards are multiplying in the Brazilian market

With the high adoption of cashless payments in the country, food delivery startups have seen increased use of meal and food vouchers amid the pandemic. This has prompted food delivery companies to partner with payment companies to bring corporate food cards to market for online and offline transactions.

  • In May 2021, food delivery startup iFood and Elo entered into a strategic partnership with Link, a payment provider, to launch a unique corporate card with meal voucher and food stamp functions.
  • The card can be used in restaurants and supermarkets, and it can also be used for online purchases.
  • The user can access the iFood card to be used in bakeries, grocery stores and also in wholesale chains. Notably, this prepaid card can also be used for promotions and offers from the Elo network.

Scope

Companies cited

  • Casino Guichard Perrachon SA
  • Natura Cosmeticos SA
  • Wal-Mart Stores Inc.
  • Lojas Americanas S.A.
  • Adeo Group
  • Cencosud SA
  • Magazine Luiza S.A.

Brazil Digital Wallet Market Size and Forecast

  • Transaction value trend analysis
  • Trading volume trend analysis
  • Average value per transaction

Brazil Digital Wallet Market Size and Forecast by Key Segments

  • Retail purchases (value, volume, average value)
  • Trip (value, volume, average value)
  • Entertainment and games (value, volume, average value)
  • Restaurant (value, volume, average value)
  • Recharge and bill payment (value, volume, average value)

Brazil Prepaid Card Industry Market Attractiveness

  • Load value trend analysis
  • Transaction value trend analysis
  • Trading volume trend analysis
  • Average value per transaction
  • Number of cards

Market Share Analysis by Functional Attributes – Open Loop vs Closed Loop, 2017 – 2026

Analysis of market shares by categories of prepaid cards

Future growth dynamics of open-loop prepaid cards in Brazil, 2017 – 2026

  • Transaction value trend analysis
  • Trading volume trend analysis
  • Average value per transaction
  • Number of cards

Future growth dynamics of closed-loop prepaid cards in Brazil, 2017 – 2026

  • Transaction value trend analysis
  • Trading volume trend analysis
  • Average value per transaction
  • Number of cards

Usage trends for prepaid cards in Brazil

  • 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
  • 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 Cards Market Size and Forecast

Brazil Teen and Campus Prepaid Card Market Size and Forecast

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

  • By Open Loop Teen and Campus prepaid card
  • By Closed Loop Teen and Campus prepaid card

Prepaid Commercial and Administrative Expense Cards Market Size and Forecast in Brazil

  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

Brazil Payroll Prepaid Cards Market Size and Forecast

  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

Brazil Prepaid Meal Cards Market Size and Forecast

  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

Brazil Forex Travel Prepaid Card Market Size and Forecast

  • By retail
  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

Brazil Prepaid Transit and Toll Cards Market Size and Forecast

Brazil Prepaid Health and Wellness Cards Market Size and Forecast

Brazil Social Security and Other Government Benefit Programs Prepaid Cards Market Size and Forecast

Brazil Prepaid Fuel Card Market Size and Forecast

Brazil Utilities and Other Prepaid Cards Market Size and Forecast

For more information on this report, visit https://www.researchandmarkets.com/r/xux9p9

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