Government Initiatives to Boost Prepaid Card Market in India
India, being a nation of 1.2 Billion population, represents an attractive and opportunistic market for the pre paid cards players as only 20% of the Indian adults possess payment cards. Prepaid cards in India are mainly used by individuals as a preferred management tool for travel in other countries and to withdraw cash at international locations. Moreover, as per industry experts, on account of increasing awareness among the consumers about the prepaid credit cards, the prepaid credit card market in India was estimated to cross US$ 4 Billion at the end of 2009.