China Prepaid Card Market Overview, 2030

The prepaid card market in China has expanded rapidly, driven by the country’s increasing adoption of digital payment solutions, rising e-commerce activity, and a shift toward cashless transactions. As one of the largest economies in the world, China has witnessed a surge in demand for prepaid cards due to their versatility, security, and convenience. These cards serve as a valuable financial tool for individuals who seek an alternative to conventional banking, offering an easy-to-use solution for making purchases, managing expenses, and conducting secure transactions. The growth of fintech and mobile payment platforms has further strengthened the position of prepaid cards in the financial ecosystem, as consumers integrate them with digital wallets and contactless payment systems. In addition to their widespread use among individuals, prepaid cards have gained traction in corporate and government sectors, where they are employed for payroll distribution, employee incentives, and public welfare disbursement. The popularity of prepaid cards is also fueled by their accessibility, as they do not require a credit check or a traditional bank account, making them ideal for young consumers, freelancers, and those seeking financial independence. Furthermore, businesses and retailers are leveraging prepaid cards as a customer engagement tool, introducing store-branded and loyalty-linked prepaid options to encourage repeat purchases. The growing adoption of online shopping and mobile commerce has further contributed to the expansion of the prepaid card market, as consumers seek secure and controlled methods to complete digital transactions. With China’s government promoting financial technology and digital banking innovations, prepaid cards have evolved into an integral component of the nation’s payment landscape, offering users a flexible and efficient means to manage their finances.

According to the research report "" China Prepaid Card Market Overview, 2030,"" published by Bonafide Research, the China Prepaid Card Market is anticipated to grow at more than 8.78% CAGR from 2025 to 2030. The demand for prepaid cards in China is closely linked to the rapid transformation of the country’s financial sector and the increasing reliance on digital payment ecosystems. The widespread use of mobile payments, driven by platforms like Alipay and WeChat Pay, has further reinforced the significance of prepaid cards as an essential financial instrument. Unlike traditional banking products, prepaid cards allow users to exercise greater control over their spending, making them particularly attractive to those who wish to manage their budgets effectively. One of the primary drivers behind the growth of prepaid cards is their integration with digital financial services, allowing consumers to load funds, track transactions, and make purchases seamlessly through mobile apps. Additionally, government agencies have adopted prepaid cards as a method for distributing subsidies, welfare benefits, and tax refunds, ensuring efficient and transparent disbursement of funds. Businesses are also utilizing prepaid cards for corporate expenses, employee compensation, and customer loyalty programs, recognizing their potential to enhance financial efficiency and security. The increasing shift toward online transactions has heightened the demand for virtual prepaid cards, as consumers prioritize secure payment options that reduce exposure to financial fraud and unauthorized access. The rise of digital banking, coupled with the growing preference for contactless transactions, is expected to further drive the prepaid card market in China, making it a crucial component of the country’s financial infrastructure.

The prepaid card market in China is categorized by card type, with open-loop and closed-loop prepaid cards serving distinct consumer and business needs. Open-loop prepaid cards, linked with major payment networks such as UnionPay, Visa, and Mastercard, offer extensive usability for purchases at retail stores, online transactions, and ATM withdrawals both domestically and internationally. These cards have become popular among consumers who seek convenience and financial flexibility, particularly for travel, e-commerce, and recurring payments. The increasing penetration of digital wallets such as Alipay and WeChat Pay has further boosted demand for open-loop prepaid cards, as they seamlessly integrate with mobile payment platforms, enabling quick and secure transactions. Closed-loop prepaid cards, on the other hand, are designed for specific merchants or services and are widely used across China’s extensive transportation networks, retail chains, and entertainment platforms. These cards include metro and bus cards, gift cards from major retail brands, and prepaid gaming cards used for in-app purchases and online entertainment. The popularity of closed-loop prepaid cards continues to rise as businesses leverage them for customer retention and loyalty programs, offering discounts and exclusive benefits to cardholders.

China’s prepaid card market is further segmented by application, covering general-purpose reloadable (GPR) cards, gift cards, payroll cards, government benefits cards, travel cards, and other specialized prepaid solutions. General-purpose reloadable prepaid cards have gained widespread acceptance as a convenient alternative to cash and traditional bank accounts, especially among younger consumers, students, and migrant workers. These cards allow users to manage daily expenses, shop online, and make digital payments with enhanced security. Gift cards are a significant segment in China’s prepaid card market, widely used for corporate gifting, festive occasions, and brand promotions. Major e-commerce platforms such as Alibaba, JD.com, and Pinduoduo have introduced their own prepaid gift cards to encourage consumer spending and brand loyalty. Payroll prepaid cards play a crucial role in salary disbursements, particularly in industries with a large workforce, such as manufacturing, retail, and hospitality. These cards help businesses streamline payroll management while providing employees with quick and secure access to their earnings. Government benefits prepaid cards are utilized for distributing social welfare payments, subsidies, and pension funds, ensuring efficiency and transparency in fund allocation. Travel prepaid cards cater to domestic and international travelers, offering a convenient and cashless way to handle expenses in different currencies. Other niche prepaid solutions, such as gaming prepaid cards, digital subscription cards, and education-related prepaid cards, continue to expand as digital consumption patterns evolve in China.

The end-user segment of China’s prepaid card market includes retail consumers, corporate businesses, and government and public sector institutions. Retail consumers constitute the largest segment, using prepaid cards for daily transactions such as shopping, dining, commuting, and online purchases. The rise of cashless transactions in China, driven by mobile payment adoption and e-commerce growth, has accelerated prepaid card usage, with many consumers integrating them into digital wallets for added convenience. Corporate businesses utilize prepaid cards for employee expense management, travel reimbursements, corporate incentives, and promotional campaigns, enhancing financial efficiency and reducing administrative burdens. Many companies in China offer prepaid meal cards, fuel cards, and entertainment cards as part of employee benefits programs, boosting workplace satisfaction and engagement. Government agencies leverage prepaid cards for efficient fund disbursement in social welfare programs, education grants, and disaster relief assistance, ensuring financial aid reaches beneficiaries securely and on time. The expanding use of prepaid cards across different end-user segments reflects their growing role in China’s digital financial landscape, where efficiency, transparency, and accessibility are key priorities for consumers, businesses, and policymakers.

The prepaid card market in China is also segmented by usage, distinguishing between single-use and multi-use prepaid cards. Single-use prepaid cards are widely employed as gift cards, promotional tools, and incentive programs by retailers, tech companies, and corporate organizations. These cards provide consumers with a flexible and convenient gifting solution, allowing recipients to make purchases from designated stores or online platforms without the need for cash. Many businesses in China issue single-use prepaid cards as part of customer loyalty programs, offering discounts and reward points to drive sales and enhance customer retention. Multi-use prepaid cards, on the other hand, offer reloadable functionality, making them an ideal choice for managing ongoing expenses such as commuting, subscriptions, and salary payments. Multi-use prepaid cards are increasingly linked to digital wallets, allowing users to top up balances via mobile apps, online banking, and self-service kiosks. The growing preference for multi-use prepaid cards aligns with China’s push toward a cashless economy, as they provide greater financial control, security, and accessibility compared to traditional cash transactions. The integration of artificial intelligence and blockchain technology in multi-use prepaid cards is expected to enhance security measures and fraud prevention, further driving their adoption across consumer and business segments.

China’s prepaid card market is supported by a diverse range of distribution channels, including banking institutions, retail stores, and online platforms. Banking institutions play a pivotal role in issuing prepaid cards, particularly open-loop variants, which are integrated with digital banking services and mobile payment applications. Many banks in China offer prepaid cards with features such as expense tracking, automated reloading, and rewards programs, catering to the evolving financial needs of tech-savvy consumers. Retail stores, including supermarkets, convenience stores, and electronic outlets, serve as key distribution points for prepaid gift cards, transit cards, and corporate prepaid solutions. Many retail brands bundle prepaid cards with loyalty programs, offering cashback incentives and exclusive discounts to cardholders. Online platforms have emerged as the dominant distribution channel for prepaid cards in China, with e-commerce giants, fintech companies, and digital payment providers offering virtual prepaid cards for shopping, gaming, and subscription services. The rapid growth of China’s e-commerce industry, coupled with increasing smartphone penetration and the widespread adoption of QR-code-based payments, has fueled the demand for prepaid cards through digital channels. As technological advancements continue to shape the financial services industry, prepaid card issuers in China are investing in AI-driven analytics, biometric authentication, and blockchain security measures to enhance user experience and ensure secure transactions.


Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report
• Prepaid Card Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Card Type
• Open-Loop Prepaid Cards
• Closed-Loop Prepaid Cards

By Application
• General-Purpose Reloadable (GPR) Cards
• Gift Cards
• Payroll Cards
• Government Benefits Cards
• Travel Cards
• Others

By End User
• Retail Consumers
• Corporate & Businesses
• Government & Public Sector

By Usage
• Single-Use Prepaid Cards
• Multi-Use Prepaid Cards

By Distribution Channel
• Banking Institutions
• Retail Stores
• Online Platforms

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.