DING
The release of the Inaugural Ding Global Prepaid Index (GPI) has produced unexpected findings of an untapped market with high growth potential that has been accelerated by the Covid-19 pandemic. This bi-annual global study commissioned by Ding , the world’s largest mobile top-up service, examines the views of 7,000 respondents across the US, the UK, France, KSA, UAE, Qatar, Brazil, Indonesia, and the Philippines, regarding their engagement in the prepaid market and their attitudes towards it. The prepaid market is defined as people who use prepaid mobile billing; prepaid financial products such as prepaid credit cards; prepaid utility bill payment, or prepaid gift cards / vouchers.
Market Intelligence - what the report tells us
This report is telling: 79% of respondents use at least one prepaid service, while 45% use two or more; prepay is seen as a more flexible way to engage the services they need and want rather than bill pay (or postpay) options. Prepaid mobile bills account for the highest usage (61%), followed by prepaid utility bills (31%), prepaid vouchers and gift cards (19%) and prepaid financial products such as a prepaid visa card (17%).
While many assume that the prepaid market primarily serves those in a lower income bracket, the study has revealed that a high number across all income brackets engage in prepaid services. In fact, higher-income earners use prepaid products most, with 84% of respondents in this bracket stating they use prepaid services. This result is relatively high across the board, with 78% of low-income earners using prepaid services as do 79% of medium-income earners.
“The Global Prepaid Index has revealed the enormous market potential for prepaid products,” said Mark Roden, Chief Executive and Founder of Ding. “Our research shows that prepaid products attract all walks of life, with many people engaging by choice rather than out of necessity. In an era where we can use technology to provide better transparency and control over our finances, as well as to use it to quickly access services, it is no surprise that people are willing to have their electricity or mobile phone service cut off for example because, in minutes, they can just top it up again.”
Market Opportunity
“Today we see a business opportunity to cater to the prepaid market more than ever,” said Roden. “The Covid-19 pandemic has accelerated this trend not only due to financial uncertainty but also with many unable to see their loved ones in person due to social distancing and restrictions on international travel. Even on our own platform, we have seen close to a 50% annual uptick in prepaid transactions during 2020, with customers prioritising keeping in contact by either topping up their own phones or sending airtime to others.”
*** Ends ***
About the Ding Global Prepaid Index (GPI)
The Ding Global Prepaid Index (GPI) is a major bi-annual survey analysing the prepaid market.
The inaugural GPI shines a light on the people who may see prepaid products and services as their only option to live in the world today. 7,000 respondents were surveyed across Europe, Asia and the Americas regarding their use of prepaid offerings, examining the attitudes, activities and outlook of the forgotten billion in particular during the Covid-19 pandemic.
Those surveyed were evenly distributed across gender and aged over 18, 30 percent of the sample also identified as expats.
About Ding
Ding was founded to improve people’s lives by helping those with less gain access to more. As the number one international mobile top-up service in the world, Ding has been keeping people connected since 2006, when it launched this first-of-a-kind service. Today, Ding’s users have successfully sent over 450 million top-ups globally, via the app, online at Ding.com, and in-store at over 600,000+ retail outlets worldwide.
Ding is the world’s leading universal top-up service. Ding delivers a top-up every second, via 550+ operators, across 140+ countries – helping families and friends around the world to stay connected.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005442/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
E4LIFE19.4.2024 17:14:35 CEST | Press release
“e4life” is Present at Expomed Eurasia with its Innovative Device Able to Inactivate Flu and Covid Viruses With an Efficacy over 90%
CA-QUALCOMM-INCORPORATED19.4.2024 15:01:33 CEST | Press release
Qualcomm Schedules Second Quarter Fiscal 2024 Earnings Release and Conference Call
CO-NEWMONT-CORPORATION19.4.2024 14:57:33 CEST | Press release
Newmont Appoints Mining Industry Veteran Francois Hardy as Chief Technology Officer
TX-SLB19.4.2024 12:51:33 CEST | Press release
SLB Announces First-Quarter 2024 Results, Targeting to Return $7 Billion to Shareholders Over 2024–2025
CO-ZAYO-GROUP19.4.2024 09:01:30 CEST | Press release
Zayo Group Appoints New CEO of Zayo Europe
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom