PrePaid Opportunities in India – PIF Said the Market Will Double in Next 2-3 Years

The Prepaid International Forum is bullish about the prepaid card market in India, saying that the market will double in next two -three years.

Currently, the size of the prepaid cards industry, in terms of transaction, was pegged at nearly Rs 41,910 crore.

Also, the prepaid cards industry is all set to play a major role in the ongoing financial inclusion programme of the country.

Prepaid cards market is growing at 6-7% annually, salary, travel and gift cards being the most popular ones.

Over the longer term, the three largest prepaid segments in India are Open Money, Payroll, and Mobile, according to preliminary results from Mercator’s 2010 Global Prepaid Market Opportunities, due for publication in March 2011. The total market opportunities for prepaid in the country was US$83 billion in 2009, making India the 8^th largest potential market for prepaid cards in the world (excluding U.S.), according to the same study.

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