A digital gift card is similar to a prepaid digital wallet that consists of a specific amount of money that can be used for purchasing goods. Many digital gift cards have certain limit i.e., minimum and maximum initial loading amount. For instance, minimum amount is $10 and maximum is $500.

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Generally, digital gift cards are used to pay for a portion of a purchase with mobile payment, debit, or credit to balance the expense. As a precaution to mitigate the risk of losses, many digital gift cards are registered online, which allows the remaining balance to be tracked and frozen if a card is lost. Digital gift cards provide more security as compared to cash and are easily traceable, which can avoid fraudulent activities

Mon, January 17, 2022, 7:00 AM·8 min read DUBLIN, Jan. 17, 2022 /PRNewswire/ -- The "Digital Gift Card Market by Functional Attribute, End User and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Research and Markets Logo Research and Markets Logo A digital gift card is similar to a prepaid digital wallet that consists of a specific amount of money that can be used for purchasing goods. Many digital gift cards have certain limit i.e., minimum and maximum initial loading amount. For instance, minimum amount is $10 and maximum is $500.

ADVERTISEMENT - Rise in adoption of advance technologies in the payment sector and surge in awareness of digital payment across the globe are the major factors that propel the market growth. In addition, high adoption of smartphones and rise in adoption of digital gift cards by corporate offices financial institutions further fuel the growth of the digital gift cards market. However, security concerns with respect to digital gift cards is expected to hamper the market growth. Furthermore, surge in demand for digital gift cards from developing countries is expected to offer lucrative opportunities for the market in the upcoming years.

The digital gift card market is categorized on the basis of functional attribute, end user, application and region. Depending on functional attribute, the market is classified into open-loop card and closed-loop card. By end user, it is analyzed across retail and corporate. Based on the application, the market is divided into consumer goods, health wellness, restaurants bars, travel tourism, media entertainment and others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA, along with its prominent countries.

The key players profiled in the digital gift card market analysis are Amazon.com, Inc., Apple, Inc., Blackhawk Network Holdings, Inc., Fiserv, Inc., InComm Payments, Loop Commerce, Inc., National Gift Card Corporation, PayPal Holdings, Inc., Target Brands, Inc. and Walmart Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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