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Banking and Gift Card Market Trends
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Overview
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Digital banks are on the rise in Asia, particularly in countries like Indonesia, the Philippines, and Bangladesh, due to high unbanked populations and government support. The U.S. gift card market is expected to reach $267.3 billion by 2028, with a 5.7% CAGR, prompting leading providers to explore mergers and acquisitions. In Europe, the gift card market is set to hit US$71.4 billion by 2024, driven by local government programs and initiatives like Meta's expansion of Quest gift cards.
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How might the expansion of digital banks impact traditional banking institutions in Asia?
In what ways can local government disbursement programs further stimulate the growth of the gift card industry in Europe?
What strategies can online lenders in the Philippines employ to overcome market penetration challenges?
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