Pre-paid cards recorded a smaller increase in circulation in the Philippines in 2025, as banks continued winding down legacy programmes and consumers shifted to wallet-based payments. Transaction activity recovered slightly from 2024 but remained muted, reflecting weaker programme support and the growing preference for mobile wallets with broader acceptance, easier top-ups and integrated functions such as bills and QR payments. Open loop pre-paid cards continued to outperform closed loop formats

Pre-paid cards record a healthy increase in transaction value in Poland in 2025, due to players such as Revolut making big gains. However, over the forecast period, growth will slow down, due to the growing integration of transportation services with debit cards and mobile payment services such as BLIK.

Pre-paid cards in Peru in 2025 are experiencing rapid growth, driven by digital wallet interoperability (Yape, Plin), expansion into public transportation, and increased security measures to support digital adoption.

In 2025, pre-paid cards in Romanis register strong growth, particularly in open-loop and digital-only formats driven by neobanks like Revolut.

Pre-paid cards is seeing growth driven by adaptation to the ongoing digitalisation of payment methods and the transformation of the public transportation ecosystem. Notably, brands such as Revolut and N26 are having a marked impact on the pre-paid landscape through the development of virtual cards, real-time controls, and fee transparency.

Pre-paid card circulation in Taiwan rose in 2025, led by open loop variants offering flexibility across transit, retail, and online platforms. EasyCard dominated the competitive landscape, integrating mobile wallets, QR payments, and co-branded bank cards, while closed loop cards experienced declining use. Government initiatives promoting cashless payments, TWQR integration, and contactless transit adoption are boosting transaction volumes, cementing the role of pre-paid cards in Taiwan’s cashle

Pre-paid cards in Vietnam are growing in volume terms, with young demographics keen to use them to access card payments or to avoid getting into debt. The young gaming community is drawn to using pre-paid cards online, as many teenagers do not have debit cards and are too young for credit cards. The gaming industry offers scope to develop pre-paid cards in the upcoming years.

Prepaid cards in Saudi Arabia are recording strong growth in 2025, supported by rapid fintech expansion, increasing financial inclusion and rising adoption of digital payment methods. These cards are increasingly used by both banked and underbanked consumers due to their accessibility, ease of use and integration with digital wallets. Employers and SMEs are also expanding usage of prepaid cards for payroll distribution, employee allowances and expense management. At the same time, the launch of

Pre-paid cards in Denmark saw circulation numbers and volume and current value transactions decline in 2025. The negative trend was mainly explained by a significant drop in the use of Rejsekort cards for paying public transport fares amidst the rapid adoption of a newly developed smartphone app that performs the same function, which took a heavy toll on the closed loop category. In contrast, open loop pre-paid cards continued to post robust growth in all respects as more consumers and companies

In 2025, US pre-paid cards continued to expand, driven by cash displacement, venue digitisation, and strong growth in closed-loop products. Transaction volumes increased as consumers shifted low-value purchases from cash to prepaid cards, a trend reinforced by the cessation of penny production. Open-loop cards benefit from gig economy payroll trends and the growing comfort of younger consumers with fintech-based accounts, while light-touch federal regulation supports continued growth.

Open loop pre-paid cards grew strongly in Turkey in 2025, driven by the continued expansion of e-commerce and demand for safer, controlled online payment methods. Beyond e-commerce, these cards are widely used for gifting, gaming, and digital entertainment. Economic pressures and changing consumer behaviour also boosted demand for pre-paid solutions. Groups such as housewives, unbanked individuals, and informal workers are turning to pre-paid cards to better manage spending. Closed loop transpor

In 2025, the number of pre-paid cards in Ukraine continued to grow driven entirely by closed loop offerings, as open loop products remained absent from the market. Growth was fuelled by the rapid expansion of cashless public transport systems in cities such as Kyiv and Lviv, supported by digital platforms like Kyiv Digital and LeoKart. However, pre-paid cards face mounting competition from debit cards, NFC-enabled bank cards, and mobile wallets, which offer broader functionality and greater conv

A key development in pre-paid cards in Greece in 2025 was the move by the government to distribute major welfare disbursements, such as unemployment benefit and child benefit, on pre-paid cards. This supported healthy transaction value growth, as well as leading to an increase in cards in circulation.

Pre-paid cards in Hungary continued to grow in 2025, supported by diversified formats spanning employee benefits, retail gifting and digital wallets. Expanded tax incentives and digital usage boosted transactions, while closed-loop cards increasingly shifted to digital voucher formats. Open-loop pre-paid cards issued by banks and fintechs gained traction for everyday spending. Revolut was the most dynamic issuer, accelerating adoption through app-based, open-loop solutions and local market integ

While closed loop pre-paid cards are much more popular than open loop in Norway in 2025, both the number of cards in circulation, as well as transaction values fall, as consumers increasingly switch to mobile apps tied to a debit card for payment for services such as public transport. However, open loop pre-paid cards fare better.

Pre-paid cards record a strong performance in Portugal in 2025, due to players such as Revolut making big gains. However, over the forecast period, overall transaction value is likely to fall, due to the growing integration of transportation services with payment cards.

Prepaid cards saw only modest growth in Isreal in 2025 as rising living costs and financial pressures boosted demand for credit cards instead. They remain popular for children and young adults, with cards like IsraCard’s Netancik and ICC CAL’s My CAL allowing parents to monitor spending. Fintech solutions such as Prepay are further limiting physical prepaid card growth by offering digital cards that work online, abroad, and for money transfers.

The number of pre-paid cards in circulation in Morocco declined in 2025, as consumers increasingly opted for more convenient and integrated payment methods like debit cards and mobile wallets. Open loop cards lost ground, while closed-loop cards - including gift cards, corporate incentive cards, and transport cards - maintained relevance for specific usage occasions. Pre-paid cards, however, remain vital for social programmes like RAMED and CNSS, corporate payrolls, and remittance transfers, off

The number of pre-paid cards in circulation in the Netherlands saw a decline in 2025, largely due to falling demand for closed loop travel cards like the OV-chipkaart, as commuters increasingly used debit cards, charge cards, or mobile wallets. Open loop pre-paid cards also lost relevance, with nearly all Dutch residents holding debit cards and major issuers, such as ICS, phasing out these products. While gift cards remain popular - driven by providers like Cards Unlimited and VVV Nederland - th

Pre-paid cards in Hong Kong saw growth across metrics in 2025, thanks to the expansion of stored value facilities and innovation from leading category players. Moreover, the case of transactions reveals greater merchant acceptance and broader adoption of this payment system for everyday expenditure.

Pre-paid cards in Malaysia recorded higher circulation and rising transactions in 2025, supported by cashless adoption and greater use of app-based payments for e-commerce and recurring spend. Closed loop products remained anchored in daily transit and toll use, while open loop offerings gained relevance as wallet-linked cards for online shopping, travel and subscription payments. Over the forecast period, transaction growth is expected to stay positive as DuitNow QR expansion and mobile-wallet

Pre-paid cards is seeing strong growth supported by integration with digital wallets and increased use by corporations looking to refine their control of expenditure. In addition, online retailers have increased their acceptance of pre-paid cards, while more retailers are selling pre-paid cards.

Pre-paid cards in Nigeria continued to expand rapidly in 2025, with circulation numbers and volume and current value transactions increasing at double-digit rates. The category is both a key contributor to and beneficiary of ongoing improvements in financial inclusion and literacy among the population, as these instruments are much more easily accessible than debit and credit cards. Moreover, consumer appreciation for their convenience, capacity to facilitate better control over spending and pot

Pre-paid cards witnessed consistent growth in 2025, in line with wider usage of transport cards, including The Climate Companion Card and T-Money. Whilst the bulk of pre-paid development focuses on transportation, card companies are targeting teenage audiences by offering pre-paid financial cards.