The Worldwide Forex Cards Industry is Expected to Reach $1,196 Billion by 2031

Dublin, Nov. 30, 2022 (GLOBE NEWSWIRE) -- 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 addition, 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.

The forex card market is segmented on the basis of type, industry vertical, end user, and region. By type, it is segmented into multi-currency forex card, and single currency forex card. By industry vertical, it is bifurcated into hospitality, consumer goods, education, and others. Based on end user, it is segregated into businesses and individuals. By region, it is analyzed across Asia-Pacific, Europe, North America, and LAMEA.

The report analyzes the profiles of key players operating in the forex card market such as Bank of America Corporation, Charles Schwab & Co., Inc., Citigroup Inc., CREDIT SUISSE GROUP AG, FINNEW SOLUTIONS PVT. LTD., JPMorganChase & Co., Morgan Stanley, Royal Bank of Canada, Thomascook.in, and UBS. These players have adopted various strategies to increase their market penetration and strengthen their position in the forex card industry.

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 Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter's five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market

CHAPTER 4: FOREX CARDS MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Multi-currency Forex Card
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Single Currency Forex Card
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country

CHAPTER 5: FOREX CARDS MARKET, BY INDUSTRY VERTICAL
5.1 Overview
5.1.1 Market size and forecast
5.2 Hospitality
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Consumer Goods
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Education
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Others
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country

CHAPTER 6: FOREX CARDS MARKET, BY END USER
6.1 Overview
6.1.1 Market size and forecast
6.2 Businesses
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Individuals
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country

CHAPTER 7: FOREX CARDS MARKET, BY REGION

CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments

CHAPTER 9: COMPANY PROFILES
9.1 Bank of America Corporation
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Charles Schwab & Co
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Citigroup Inc.
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 CREDIT SUISSE GROUP.
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 JP Morgan Chase & Co.
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Morgan Stanley
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Niyo Global Card
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Royal Bank of Canada
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Thomas Cook
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 UBS
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments

For more information about this report visit https://www.researchandmarkets.com/r/sx9g92


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