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Forex Prepaid Cards Market to Reach $492.80 Billion, Globally, by 2032 at 15.3% CAGR: Allied Market Research
Increase in international travel & cross-border transactions, the rise in popularity of online shopping, and the growth in awareness among consumers regarding the benefits of forex prepaid cards drive the growth of the forex prepaid cards market.
WILMINGTON, Del., Feb. 1, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Forex Prepaid Cards Market by Type (Single Currency Forex Card and Multi-Currency Forex Card) and End User (Retail, Corporate, Financial Institutions, Government, and Others): Opportunity Analysis and Industry Forecast, 2022-2032″. According to the report, the global forex prepaid cards industry generated $120.5 billion in 2022 and is anticipated to generate $492.80 billion by 2032, witnessing a CAGR of 15.3% from 2023 to 2032.
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- 125 – Tables
- 47 – Charts
- 252 – Pages
Prime determinants of growth
The forex prepaid cards market is accelerated by the growth in trend of cross-border transactions brought about by the globalization of travel and businesses. This has created the requirement for convenient and secure payment solutions, which forex prepaid cards are able to fulfill. Furthermore, the increase in the popularity of online purchasing has increased the need for prepaid cards as a convenient payment option for overseas transactions. The increased awareness regarding the benefits of forex prepaid cards, which include better exchange rates and fewer foreign exchange fees, has further bolstered the growth of the market. On the contrary, emerging economies have a huge untapped market for FX prepaid card providers due to the rise in use of smartphones and internet access in these countries.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2022–2032  |
|
Base Year |
2022 |
|
Market Size in 2022 |
$120.5 billion |
|
Market Size in 2032 |
$492.80 billion |
|
CAGR |
15.3 % |
|
Segments Covered |
Type, end user, and region. |
|
Drivers |
Growth in international travel Rise in popularity of online shopping |
|
Opportunities |
Increase in penetration of smartphones and internet access Rise in demand for cash alternatives |
|
Restraint |
Forex card charges ATM withdrawal fees |
The multi-currency forex card segment to maintain its leadership status throughout the forecast period
On the basis of type, the multi-currency forex card segment held the highest market share in 2022, accounting for nearly three-fourths of the global forex prepaid cards market revenue and is projected to manifest the highest CAGR of 16.4% from 2023 to 2032. This is attributed to the fact that a multicurrency forex card simplifies payment and makes travel hassle-free. In addition, a multi-currency forex card usually gets a better exchange rate than other options such as cash or traveler’s check (TC). In addition to better rates, users stand to benefit from features such as waived off ATM access fee withdrawals, zero cross-currency charges, and lower transaction charges than international credit or debit cards, with a host of exclusive discounts.
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The corporate segment to maintain its leadership status throughout the forecast period
On the basis of end user, the corporate segment held the highest market share in 2022, accounting for more than one-third of the global forex prepaid cards market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that consumers go to different countries for vacations and business purposes for which they take forex cards for making any transactions. However, the government segment is projected to manifest the highest CAGR of 19.3% from 2023 to 2032. This is attributed to the fact that forex prepaid cards offer a convenient way for government agencies to manage and control expenses.
North America to maintain its dominance by 2032
On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global forex prepaid cards market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that as consumer travel spending increases, it is expected to open up a huge market in North America for banks and forex prepaid card issuers to work with travel companies and improve the consumer experience. Many issuers have AI-enabled customer onboarding to balance the need for these compliance requirements with growth in cardholder expectations for a quick and frictionless onboarding process. However, Asia-Pacific is expected to witness the fastest CAGR of 19.3% from 2023 to 2032. This is attributed to the growth in tourism industry and increasing disposable income in the region.
Leading Market Players: –
- American Express Company
- Axis Bank
- HSBC Group
- Revolut Ltd
- Qantas Airways Limited
- Mastercard
- HDFC Bank Ltd.
- Thomascook.in
- Travelex International Limited
- Wise Payments Limited
The report provides a detailed analysis of these key players of the global forex prepaid cards market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forex prepaid cards market analysis from 2022 to 2032 to identify the prevailing forex prepaid cards market opportunity.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- The Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the forex prepaid cards market segmentation assists to determine the prevailing forex prepaid cards market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as forex prepaid cards market trends, key players, market segments, application areas, and market growth strategies.
Forex Prepaid Cards Market Report Highlights:
By Type
- Single Currency Forex Card
- Multi-Currency Forex Card
By End User
- Retail
- Corporate
- Financial Institutions
- Government
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (Gcc Countries, South Africa, Rest of Middle East and Africa)
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Fintech PR
Longsys Highlighted Reliable Industrial and Automotive Storage Innovations at Embedded World 2025
NUREMBERG, Germany, March 14, 2025 /PRNewswire/ — Longsys (301308.SZ) successfully showcased its latest industrial and automotive storage solutions at Embedded World 2025 under the theme “Reliable Storage Empower the Industrial World.” The company highlighted its PTM (Product Technology Manufacturing) full-stack customization business model, demonstrating how its tailored storage solutions support industrial automation, smart manufacturing, and automotive applications.
Industrial-Grade Storage: High Performance & Reliability
At the event, Longsys unveiled its next-generation industrial storage solutions, including:
- Industrial DDR5 DIMM – Supported ECC error correction, wide-temperature operation (-40°C to 85°C), and anti-sulfuration, ensuring reliability in industrial environments.
- Industrial PCIe Gen4 SSD – Featured hardware PLP, anti-sulfuration, and LDPC error correction, delivering high-speed performance in AI-driven industrial applications.
- 4TB Industrial SATA SSD – Offered pSLC technology, temperature control, and high endurance, designed for long-duration, high-load operations.
Flash + DRAM: Comprehensive Automotive Storage Solutions
Longsys also presented its comprehensive automotive storage portfolio, integrating automotive LPDDR4x, UFS, eMMC, and SPI NAND Flash. These products passed AEC-Q100 Grade 2/3 testing and are IATF 16949-certified, supporting applications such as ADAS, in-vehicle infotainment, and autonomous driving. Key highlights included:
- Automotive LPDDR4x – Delivered 4266Mbps speed, ultra-low power consumption, and won Best-in-Show at electronica 2024.
- XS400 Automotive Surveillance SSD – Supported 24-channel 1080p HD video recording, ideal for commercial fleet vehicles.
PTM Full-Stack Customization: Flexible Solutions for Automotive & Industrial Applications
Longsys’ PTM (Product Technology Manufacturing) full-stack customization business model provides tailor-made storage solutions for industrial and automotive applications.
- Industrial Storage Customization – Addressing form factor limitations in automation, DPU intelligent networking, and industrial computing, Longsys offers custom SSD and DIMM configurations optimized for specific hardware structures, firmware, and environmental conditions.
- Automotive Storage Customization – Supporting long product lifecycles and stringent automotive-grade requirements, Longsys operates its own in-house packaging and testing facilities to deliver highly reliable, application-specific automotive storage solutions.
With in-house manufacturing and testing centers in Suzhou, South America, and Zhongshan, Longsys ensured a stable, high-quality supply chain. Longsys continues to strengthen its presence in high-reliability storage solutions.
About Longsys
Founded in 1999, Longsys (301308.SZ) is a globally leading branded semiconductor memory enterprise, integrating R&D, design, packaging and testing, manufacturing, and sales services. Longsys upholds the corporate vision of “Everything for memory.” With memory technology innovation at its core, Longsys provides high-end, flexible, and efficient full-stack customized services to global customers. For more information please visit https://www.longsys.com/, and follow Longsys on LinkedIn, Facebook and Twitter.
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Fintech PR
Baron Evans of Sealand and PR Guru Paul Holmes to Lead Davos Communications Summit 2025 on April 10 in Switzerland
The former UK Labour Party General Secretary David Evans will reveal the key strategies behind multiple election victories – lessons that apply beyond politics
DAVOS, Switzerland, March 14, 2025 /PRNewswire/ — Two of the most influential voices in strategic communication – Baron Evans of Sealand and Paul Holmes, will take center stage at the Davos Communications Summit & Awards 2025 on April 10 at the Davos Congress Center. With decades of experience shaping communication victories, global PR trends, and corporate strategies, they will deliver game-changing insights into leadership, messaging, and what’s next in the AI era. Secure your seat now at wcfasummit.com.
Baron Evans of Sealand, member of the House of Lords, former UK Labour Party General Secretary, and Senior Advisor to the Washington DC based Progressive Policy Institute, will deliver a keynote speech on “Win ’24 – The Great Journey from Defeat to Victory,” offering key takeaways of his electoral success applicable to business, politics, and global communications. Joining him is Paul Holmes, founder of PRovoke Media and one of the most respected voices in public relations. His keynote, “AI and 2025 Trends in Public Communications“, will explore how AI is revolutionizing corporate messaging and brand engagement, shaping the next era of strategic communication.
“Successful communication isn’t just about delivering a message – it’s about understanding the people who need to hear it. Reconnecting with key parts of our voting coalition required more than just messaging – it demanded deep insight, a sharp strategic focus, and clear, consistent communication. At Davos Communications Summit 2025, I’ll break down the practical strategies behind this success and how they apply far beyond politics – to anyone looking to influence, engage, and lead effectively,” commented Baron Evans of Sealand.
The Davos Communications Summit & Awards 2025, hosted by the World Communications Forum Association (WCFA), will take place in Davos on April 9-11 and welcomes business and communication professionals to join for a two-day conference and gala dinner.
Among the distinguished speakers, representing Europe, North America, Africa and Asia, are also: Guntram Kaiser, Founder of KaiserCommunication GmbH, Stuart Bruce, PR Futurist & Co-Founder at Purposeful Relations, Catherine Hernandez-Blades, Independent Board Director, Chetna Krishna, Communications Officer at CERN, Iryna Zolotarevych, Advisor to the Minister of Social Policy of Ukraine, Kateryna Doroshevska, Founder & CEO, BECOME PR agency, Katja Fasink, CEO, key7 Communications, Kirsty Leighton, Founder & Group CEO at Milk & Honey PR; Laura Baxter, CEO of Castle Mount Media GmbH; Mary Beth West, Senior Strategist, Mike Southon, Entrepreneur Mentor, The Beermat Entrepreneur, Paul Holmes, Founder at PRovoke Media, Sanjiv Winayak, Senior Client Director/Head of AI at Milk & Honey, Sophie Reymond, Public Relations Consultant and Founder at SRPR, Syed Bukhari, Senior Manager Strategic Communications & Visibility at American University of Sharjah, Tatevik Simonian, Director Communications & International Relations, SPRING PR, Thabisile Phumo, Executive Vice President Stakeholder Relations at Sibanye-Stillwater, Viroslava Novosylna, CEO & Founder at SLOVA PR.
For the first time, the Davos Communications Awards Ceremony will be held in person during the Gala Dinner on April 10, recognizing excellence in public relations, corporate communications, and industry innovation worldwide. All communication experts, agencies and in-house teams are invited to submit their work at www.davosawards.com.
The Davos Communications Summit & Awards 2025 is in cooperation with the Public Relations and Communications Association (PRCA) and is proudly supported by The #PREthics Community as the gold sponsor and Brain 4 Strategy as the silver sponsor. The official media partner is PR Newswire, part of Cision Group Ltd.
About World Communications Forum:
Founded in 2010 in Davos, Switzerland, the World Communications Forum Association is a premier global platform for networking, knowledge exchange, and industry development, focused on upgrading its members’ expertise and to be an active voice in business, society and politics. WCFA’s flagship event, the World Communications Forum, has been hosted in major cities worldwide, including Istanbul, Prague, Moscow, New York City, Kuala Lumpur, Mumbai, Mexico City, Lusaka, Cape Town, and Geneva. In 2020, the association launched the Global Communications Summit on Zoom, bringing together over 450 global experts to establish the Tenets for Ethical Communications, endorsed by 135 industry leaders from 36 countries.
For more information, contact:
Maxim Behar, WCFA President
mainoffice@wcfaglobal.com
+359 888 50 31 13
www.wcfaglobal.com
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