[December 06, 2022]

Insights on the Forex Cards Global Market to 2031 - by type, Industry Vertical, End-user and Region - ResearchAndMarkets.com

The "Forex Cards Market By Type, By Industry Vertical, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the forex cards market size was valued at $260.34 billion in 2021, and is estimated to reach $1,196.52 billion by 2031, growing at a CAGR of 16.6% from 2022 to 2031.

A forex card is a type of prepaid card in which the cardholder can load money in foreign currency. It is globally accepted, and users can either pay for their expenses using their forex card or withdraw cash in foreign currency at an ATM. A forex card is one of the easiest ways of carrying foreign currency when the user is travelling abroad.

It can be used as a prepaid card which the can load with several popular currencies such as USD, EUR, CAD, GBP, AED, SGD and others. Once loaded, the card can then be used just like a debit card to pay for all the travel expenses in the local currency of the place the card holder is visiting.

Surge in tourism has led to the rise of adoption of forex card among users. In addition, forex cards protects users from fluctuations in foreign currency prices. Moreover, it protects users from paying additional charges while making transactions in a foreign country. Therefore, these are the major driving factors for the growth of the market.

However, forex card charge ATM withdrawal charges while withdrawing money from any foreign country ATM. In adition, chances of getting the physical card stolen are some of the major factors limiting the growth of the forex card market. On the contrary, rise in demand for cash alternatives among users while travelling to other countries is expected to provide lucrative growth opportunities in the coming years.

Key Benefits

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forex cards market analysis from 2021 to 2031 to identify the prevailing forex cards market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the forex cards market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global 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 global forex cards market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

• Multi-currency Forex Card
• Single Currency Forex Card

By Industry Vertical

• Hospitality
• Consumer Goods
• Education
• Others

By End User

• Businesses
• Individuals

By Region

• North America
• U.S.
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Netherlands
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Australia
• Singapore
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• Bank of America Corporation
• Charles Schwab & Co
• Citigroup Inc.
• CREDIT SUISSE GROUP.
• JP Morgan Chase & Co.
• Morgan Stanley
• Niyo Global Card
• Royal Bank of Canada
• Thomas Cook
• UBS

For more information about this report visit https://www.researchandmarkets.com/r/8ryux0

View source version on businesswire.com: https://www.businesswire.com/news/home/20221206005912/en/

[ Back To TMCnet.com's Homepage ]