The prepaid card market has been witnessing robust growth over the past few years in India. The use of prepaid cards has further increased in 2020 due to the pandemic as customers restrict their spend...
The prepaid card market has been witnessing robust growth over the past few years in India. The use of prepaid cards has further increased in 2020 due to the pandemic as customers restrict their spending, minimize cash usage and rise in online spending. The growth has also been supported by government’s push towards cashless economy. Of the various prepaid cards, gift cards have recorded strongest growth in recent quarters, especially during festive season. The market has seen participation from travel companies, OTT and content platforms, as well as mobile payment providers.
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