Latest news with #digitalwallets
Yahoo
a day ago
- Business
- Yahoo
AI in cards and payments: Revolutionising the future of transactions
Artificial Intelligence (AI) is transforming the cards and payments industry, making transactions faster, safer, and more personalised. As digital wallets, contactless payments, and real-time transaction systems grow globally, AI is becoming a core driver of innovation. Today, this evolution is entering a new phase with the rise of agentic AI—intelligent systems capable of autonomous, goal-directed action that can make decisions, learn from outcomes, and adapt without human input. Fraud prevention has always been a critical concern for payment providers. Traditional systems rely on pre-set rules, which can miss new types of fraud or trigger unnecessary alerts. AI, especially in its agentic form, is more adaptive. It not only identifies unusual patterns but can act in real time—flagging suspicious activity, freezing compromised accounts, and triggering additional authentication—all without waiting for manual reviews. Agentic AI systems can also collaborate across networks, detecting coordinated fraud across multiple platforms. These systems continuously learn, update their models instantly, and improve detection accuracy while reducing false positives, ensuring legitimate transactions proceed smoothly. Modern consumers expect personalised, intuitive financial services. AI makes this possible by analysing spending habits, preferences, and even life events to offer relevant product suggestions or spending insights. But agentic AI takes this further. Instead of just offering recommendations, these AI agents can act on behalf of users. For example, they might automatically choose the best card for a transaction to maximise rewards, shift funds between accounts to avoid overdrafts, or suggest and initiate a savings plan based on monthly spending. These agents don't just react—they proactively manage financial tasks in line with user goals and preferences. Real-time payment systems are now essential, with users expecting instant, error-free transactions. Agentic AI helps make this possible by optimising payment routing, predicting network congestion, and ensuring liquidity across accounts—all in the background. Such AI systems can autonomously select the best path for a payment based on speed, cost, and reliability. In complex environments like cross-border transactions, agentic AI manages currency conversions, compliance requirements, and settlement risks without human intervention, improving efficiency and transparency. AI chatbots have already enhanced customer service by providing instant support for common queries. However, with agentic AI, these assistants evolve into financial agents—capable of taking meaningful actions rather than just responding to questions. Imagine telling your assistant, 'I'm traveling to Spain tomorrow,' and it automatically enables international payments, suggests travel insurance, checks for foreign transaction fees, and informs your bank's fraud system. This level of autonomous service radically enhances convenience and customer engagement. Payments processing involves numerous behind-the-scenes workflows—from reconciliation and compliance to chargeback handling. AI already automates many of these tasks, but agentic AI can go further by managing them. These systems can detect inefficiencies, redesign workflows, and implement improvements independently. For example, if recurring issues arise with transaction failures, an AI agent can analyse root causes, adjust protocols, and even communicate updates to support teams—streamlining operations and cutting costs. As regulatory expectations grow, financial institutions must ensure not just compliance, but explainability. Agentic AI offers built-in auditing capabilities, tracking every decision and offering justifications in human-readable formats. This helps meet regulations like PSD2 and GDPR while building trust with users and regulators alike. The cards and payments industry is not just digitising—it's becoming autonomous. With the rise of agentic AI, systems now go beyond prediction to decision-making, self-management, and proactive service delivery. From fraud prevention and customer experience to risk management and compliance, AI is redefining every aspect of how value moves. As we move forward, the financial institutions that embrace agentic AI won't just offer better services—they'll pioneer the next era of intelligent, self-directed finance. The future of payments is not just smart—it's agentic. And it's already here. Vivek Dwivedi is Regional Head - Cards and Payments, Financial Services at Infosys "AI in cards and payments: Revolutionising the future of transactions" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
12-06-2025
- Business
- Yahoo
Middle East Prepaid Card and Digital Wallet Market Growth Dynamics Databook 2025: Saudi Arabia's Unbanked Leverage Prepaid Cards for Financial Inclusion
Explore pivotal trends in the Middle East's prepaid card and digital wallet market, anticipated to reach $63.3B by 2029 with an 9.5% annual growth rate. Key drivers include digital payment adoption, financial inclusion efforts, and emerging opportunities in countries like UAE, Saudi Arabia, Qatar, and Oman. Middle Eastern Prepaid Card and Digital Wallet Market Dublin, June 12, 2025 (GLOBE NEWSWIRE) -- The "Middle East Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to Middle East's prepaid card and digital wallet market is poised for remarkable growth, projected to escalate by 11.3% annually, reaching USD 44 billion by 2025. This sector experienced a strong development phase from 2020-2024, boasting a CAGR of 15.8%. The robust expansion trajectory is set to continue with a CAGR of 9.5% forecasted between 2025-2029, further propelling the market to approximately USD 63.3 billion by 2029. Key Trends and Drivers in the Middle East Prepaid Cards SectorThe prepaid card market in the Middle East is rapidly transforming, driven by digital payment advancements and financial inclusion efforts. Countries like the UAE and Qatar are integrating prepaid cards with digital wallets, reflecting a broader push towards cashless economies. Meanwhile, Saudi Arabia and Oman are leveraging prepaid solutions to address financial accessibility among unbanked populations, providing a secure and efficient alternative to traditional the next few years, the prepaid card sector is expected to expand, with government policies and financial institutions playing a crucial role in shaping market dynamics. Kuwait's retail industry and Oman's corporate sector demonstrate increased reliance on prepaid cards, indicating sector-specific growth opportunities. As financial ecosystems modernize, prepaid cards will remain a central tool for promoting financial inclusion and digital payment adoption across the Middle Initiatives Driving Digital Payment Adoption in the United Arab Emirates The UAE is experiencing a significant increase in the adoption of prepaid payment instruments, supported by government efforts to digitize the economy. This includes initiatives to promote cashless transactions and enhance financial inclusion. The government's push towards a digital economy is a primary driver of this trend. By encouraging digital payment solutions, the UAE aims to improve transaction efficiency and reduce the reliance on cash. The trend is expected to continue, with increased collaboration between the government and financial institutions to introduce innovative prepaid card solutions. This will likely lead to higher adoption rates among consumers and businesses, further embedding prepaid cards into the UAE's payment ecosystem. Rising Adoption of Prepaid Cards Among Unbanked Populations in Saudi Arabia In Saudi Arabia, prepaid cards are being used increasingly by individuals without traditional bank accounts. These cards provide a means for unbanked populations to engage in digital transactions. This trend is driven by the need for accessible financial services among unbanked individuals. Prepaid cards offer a practical solution for secure transactions without a traditional bank account. The adoption of prepaid cards among unbanked populations is expected to grow, contributing to greater financial inclusion in Saudi Arabia. Financial institutions may develop more tailored prepaid card products to meet the specific needs of this demographic. Integration of Prepaid Cards with Digital Wallets in Qatar Qatar is witnessing the integration of prepaid cards with digital wallet platforms, allowing users to manage funds and make payments through their smartphones. The increasing penetration of smartphones and the demand for convenient payment solutions drive this trend. Consumers prefer the ease of managing finances digitally, which prepaid cards linked to mobile wallets facilitate. This integration is expected to deepen, with more financial institutions partnering with technology providers to offer seamless prepaid card and digital wallet solutions. This will likely enhance the user experience and promote cashless transactions in Qatar. Growth of Prepaid Gift Cards in the Retail Sector in Kuwait Kuwait's retail sector is experiencing an increase in the issuance and use of prepaid gift cards, particularly during festive seasons and special occasions. Retailers are adopting prepaid gift cards to boost sales and attract customers. Consumers appreciate gift cards' flexibility, making them a popular choice for gifting. The trend is expected to intensify, with more retailers launching customized prepaid gift card programs. This will likely increase consumer engagement and loyalty in Kuwait's retail market. Corporate Adoption of Prepaid Payroll Cards in Oman In Oman, companies are increasingly utilizing prepaid payroll cards to disburse salaries to employees, especially those without bank accounts. The need for efficient and secure salary disbursement methods drives this trend. Prepaid payroll cards offer a practical solution for employers to pay unbanked employees, ensuring timely and transparent transactions. Prepaid payroll cards are expected to expand, with more companies adopting this method to streamline payroll processes. This will contribute to financial inclusion and improve the financial well-being of employees in Oman. Competitive Landscape of the Middle East Prepaid Card MarketThe Middle East's prepaid card market is evolving rapidly, fueled by digital transformation, financial inclusion initiatives, and the growing demand for cashless payment solutions. Established financial institutions and fintech startups actively expand their offerings, leveraging strategic partnerships to enhance market regulatory frameworks continue to adapt to the changing financial landscape, companies must balance compliance with innovation to remain competitive. The next few years will be critical in determining which players successfully capitalize on emerging opportunities, shaping the region's future of prepaid payment Market Dynamics The rising adoption of prepaid cards in e-commerce, transportation, and corporate payroll solutions supports the market's growth. With many unbanked populations in the region, prepaid cards have become an essential financial tool, offering secure and accessible payment alternatives. Additionally, fintech companies are driving innovation, introducing digital wallets linked to prepaid cards, further expanding the market's reach. Key Players and Market Share The prepaid card market in the Middle East is highly competitive, with a mix of global financial institutions and emerging fintech players. Leading companies such as Visa, Mastercard, American Express, and Carrefour SA dominate the market, offering a diverse range of prepaid card solutions for personal, corporate, and travel-related transactions. These companies have established strong distribution networks, leveraging partnerships with banks and retail chains. In addition to traditional financial institutions, fintech firms are entering the market with innovative prepaid card solutions tailored to regional needs. Companies like YouGotaGift, a digital gift card provider, have expanded their presence through partnerships with major retailers such as Carrefour. Meanwhile, regional fintech startups in Saudi Arabia and the UAE are launching prepaid card solutions integrated with mobile wallets, catering to the growing demand for digital financial services. Recent Launches and Partnerships Strategic collaborations and partnerships are crucial in the evolution of the prepaid card market in the Middle East. One notable partnership is YouGotaGift's collaboration with Carrefour, which has expanded the availability of digital prepaid gift cards, addressing the rising demand for digital gifting solutions. Additionally, banks and fintech firms are forming alliances to integrate prepaid card services with digital payment platforms, enhancing consumer convenience. While direct mergers and acquisitions in the prepaid card segment remain limited, broader financial sector consolidations impact the market. Large financial institutions are acquiring smaller fintech firms to strengthen their prepaid card portfolios and expand their customer base. This trend is expected to intensify as traditional banks seek to enhance their digital offerings by leveraging the technological capabilities of fintech startups. Anticipated Market Evolution (Next 2-4 Years) The prepaid card market in the Middle East is expected to become increasingly competitive over the next few years. The entry of new fintech firms and the expansion of services by existing players will drive further innovation. Integrating prepaid cards with digital wallets and mobile payment solutions will likely become a key differentiator, with companies focusing on enhancing customer convenience and security. Regulatory developments will also play a crucial role in shaping the market. As governments implement stricter financial regulations, prepaid card providers must navigate compliance challenges while maintaining product innovation. Additionally, the push for financial inclusion will create opportunities for companies to introduce prepaid solutions tailored to unbanked and underbanked populations, further driving market growth. Regulatory Changes Regulatory bodies in the Middle East have introduced new measures to enhance consumer protection and improve financial transparency in the prepaid card industry. Governments across the region are focusing on strengthening anti-money laundering (AML) and know-your-customer (KYC) compliance frameworks to ensure secure prepaid card transactions. These regulations aim to reduce fraud risks and increase trust in digital payment solutions. Central banks in countries like Saudi Arabia and the UAE have also introduced guidelines to facilitate the seamless integration of prepaid cards with mobile payment systems. These changes enhance the financial ecosystem, providing consumers with more secure and convenient digital transaction options. As regulatory frameworks continue to evolve, prepaid card issuers must ensure compliance while maintaining a seamless user experience. This report provides a detailed data-centric analysis of the prepaid card and digital wallet industry in Middle East, covering market opportunities and analysis across a range of prepaid card and digital wallet domains. With over 80+ KPIs at the country level, this report provides a comprehensive understanding of prepaid card and digital wallet market dynamics, market size and forecast, and market share Attributes: Report Attribute Details No. of Pages 636 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $44 Billion Forecasted Market Value (USD) by 2029 $63.3 Billion Compound Annual Growth Rate 9.5% Regions Covered Middle East Report ScopeThis report offers an in-depth, data-driven examination of prepaid payment instruments, focusing on expenditures via prepaid cards and digital wallets within both retail and corporate consumer sectors. It also presents an overview of global consumer behavior and retail spending patterns. The report includes a detailed breakdown of key market segments for each country. Prepaid Payment Instrument Market Size and Forecast Digital Wallet Market Size and Forecast Digital Wallet Market Size and Forecast by Key Segments Digital Wallet Retail Spend Dynamics Prepaid Card Industry Market Attractiveness Open Loop Prepaid Card Future Growth Dynamics Closed Loop Prepaid Card Future Growth Dynamics Prepaid Card Consumer Usage Trends Prepaid Card Retail Spend Dynamics General Purpose Prepaid Card Market Size and Forecast Gift Card Market Size and Forecast Gift Card Market Size and Forecast by Consumer Segments Gift Card Market Share Analysis by Retail Categories Entertainment and Gaming Prepaid Card Market Size and Forecast Teen and Campus Prepaid Card Market Size and Forecast Business and Administrative Expense Prepaid Card Market Size and Forecast Payroll Prepaid Card Market Size and Forecast Meal Prepaid Card Market Size and Forecast Travel Forex Prepaid Card Market Size and Forecast Transit and Tolls Prepaid Card Market Size and Forecast Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast Fuel Prepaid Cards Market Size and Forecast Utilities, and Other Prepaid Cards Market Size and Forecast Virtual Prepaid Card Industry Market Attractiveness Virtual Prepaid Card Market Size by Key Categories For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Middle Eastern Prepaid Card and Digital Wallet Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Yahoo
11-06-2025
- Business
- Yahoo
Malaysia Prepaid Card and Digital Wallet Intelligence Report 2025: Market to Grow by 14.1% to Reach $9.18 Billion this Year - Future Growth Dynamics to 2029
The sector, with a 17.1% CAGR from 2020-2024, continues its upward trajectory, driven by digital payments, e-commerce, and mobile technology. Integration with digital wallets enhances market expansion. Malaysian Prepaid Card and Digital Wallet Market Dublin, June 11, 2025 (GLOBE NEWSWIRE) -- The "Malaysia Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to prepaid card and digital wallet market in Malaysia is expected to grow by 14.1% on annual basis to reach US$ 9.18 billion in 2025. The prepaid card and digital wallet market in the country has experienced robust growth during 2020-2024, achieving a CAGR of 17.1%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 11.5% during 2025-2029. By the end of 2029, the prepaid card and digital wallet market is projected to expand from its 2024 value of US$ 8.04 billion to approximately US$ 14.19 prepaid card market in Malaysia is expanding rapidly, supported by increased digital payment adoption, e-commerce growth, and advancements in mobile payment technology. Integrating prepaid cards with digital wallets further drives adoption as consumers seek seamless and convenient financial solutions. Additionally, businesses increasingly leverage prepaid cards for expense management, streamlining financial operations while improving transparency and the next 2-4 years, the prepaid card market is expected to continue its upward trajectory, with growing consumer trust in cashless transactions and increasing corporate adoption. Financial service providers will likely introduce more tailored solutions, enhancing prepaid card offerings for individual and business users. As competition intensifies and digital infrastructure improves, prepaid cards will play a crucial role in Malaysia's evolving financial ecosystem. Competitive Landscape of the Malaysia Prepaid Card MarketMalaysia's prepaid card market is poised for continued growth, driven by increased digital payment adoption, strategic partnerships, and regulatory advancements. The competitive landscape is evolving rapidly, with traditional banks and fintech firms competing to offer more accessible and innovative prepaid solutions. Over the next few years, prepaid cards will become a key component of Malaysia's digital financial ecosystem. As consumer preferences shift toward more flexible and technology-driven payment methods, companies in the prepaid card sector must focus on innovation, security, and seamless integration with other financial services to remain Market Dynamics This growth is also being supported by the rapid expansion of e-commerce in Malaysia. As online shopping continues gaining traction, consumers turn to prepaid cards as a secure and convenient payment option. The rise of digital wallets and fintech-driven payment platforms further reinforces prepaid card adoption, allowing users to seamlessly integrate prepaid solutions into their daily transactions. Key Players and Market Share The Malaysian prepaid card market comprises established financial institutions and emerging fintech companies. Major banks such as Maybank and Public Bank remain dominant players, offering various prepaid card options tailored for consumers and businesses. These banks continue to innovate, leveraging their vast customer bases to drive prepaid card adoption. In addition to traditional financial institutions, fintech startups are entering the market, introducing innovative prepaid card solutions targeted at digitally savvy consumers. Companies such as Boost and BigPay leverage digital banking infrastructure to provide alternative financial services, including prepaid cards linked to mobile wallets. This growing competition reshapes the industry, driving product diversification and enhanced service offerings. Recent Launches and Partnerships Such partnerships indicate a broader industry trend of integration between traditional financial institutions, fintech companies, and global payment networks. These collaborations foster innovation in Malaysia's prepaid card market by leveraging their collective strengths. As competition intensifies, more partnerships between banks, mobile operators, and fintech startups are expected to emerge. Key Attributes: Report Attribute Details No. of Pages 159 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $9.18 Billion Forecasted Market Value (USD) by 2029 $14.19 Billion Compound Annual Growth Rate 11.5% Regions Covered Malaysia Reasons to buy In-depth understanding of Malaysia's prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 80+ market segments and sub-segments of prepaid payment instrument, prepaid card, digital wallet and virtual prepaid card. Understand Malaysia's market opportunities and key trends along with forecast (2020-2029). Understand market dynamics through essential KPIs such as transaction value, transaction volume, and average value per transaction. Develop Malaysia's market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry. Detailed analysis of Malaysia's market share by key players across key prepaid card categories. Get insights into Malaysia's consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards, virtual prepaid cards and digital wallets. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Malaysian Prepaid Card and Digital Wallet Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Finland Prepaid Card and Digital Wallet Intelligence Report 2025: Market to Grow by 7.7% to Reach $4.08 Billion this Year - Future Growth Dynamics to 2029
Finland's prepaid card and digital wallet market will grow 7.7% annually, reaching $4.08 billion by 2025. Driven by e-commerce expansion and digital wallet integration, the market enjoys enhanced security and consumer trust. Future growth is fueled by regulatory support and enhanced digital solutions. Finnish Prepaid Card and Digital Wallet Market Dublin, June 11, 2025 (GLOBE NEWSWIRE) -- The "Finland Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" has been added to offering. The prepaid card and digital wallet market in Finland is anticipated to witness a steady growth trajectory, with an expected annual increase of 7.7%, reaching approximately USD 4.08 billion by 2025. From 2020 to 2024, the market saw a robust expansion with a CAGR of 11.3%. Forecasts suggest continued growth at a CAGR of 6.5% from 2025 to 2029, projecting a rise from USD 3.79 billion in 2024 to nearly USD 5.25 billion by the end of the period. The prepaid card sector in Finland is undergoing significant transformation, propelled by digital wallet integration, rigorous security regulations, and expanding roles in e-commerce. Digital transactions' growing preference necessitates enhanced prepaid card offerings featuring digital wallet capabilities and increased security. Regulations aimed at improving payment security further enhance consumer trust and reliability in prepaid cards as a financial tool. Over the next few years, the evolution of prepaid cards is expected to align with the rise of e-commerce and digital payments in Finland. Increased consumer adoption for online transactions and financial management will likely drive issuers to introduce tailored solutions, with regulatory oversight ensuring compliance and wider acceptance across numerous sectors. Competitive Landscape Finland's market is evolving amid regulatory changes and fintech innovations. Both established banks and new entrants are investing in digital solutions to enhance offerings and expand market reach. Strong infrastructure supports prepaid card growth, with high consumer adoption of cashless transactions. Traditional banks dominate, yet fintech players are rapidly innovating. Major banks like Nordea Bank, Danske Bank, and OP Financial maintain a strong presence, while fintech firms like MobilePay and Pivo lead digital integrations. This drives competitive dynamics, compelling traditional institutions to adapt. Market Evolution (Next 2-4 Years) Digital transformation and growing acceptance of prepaid solutions are driving growth. Strategic partnerships and digital enhancement will be key to remaining competitive. Competitive dynamics will lead to product differentiation via features like loyalty programs and budgeting tools. With a focus on regulatory changes promoting cashless ecosystems, Finland encourages digital payments through incentives, supporting a shift to a digital payment framework. Regulations ensure security and transparency, requiring providers to align with higher standards. Digital Wallet Integration The convergence of prepaid cards and digital wallets reshapes consumer payment management in Finland. Platforms like MobilePay and Pivo are integrating prepaid functionalities, allowing users seamless transactions. This change supports the digital-first approach, reducing dependence on physical cards. Technological advancements and consumer demand for convenient solutions drive this trend, with secure, user-friendly platforms facilitating smooth transactions in various environments. Finns increasingly favor these integrated solutions, prioritizing efficiency. The coming years foresee more extensive integration, with an influx of financial service providers enhancing service offerings, creating a more interconnected cashless ecosystem as digital payments dominate. Secure Payment Systems Finland has bolstered regulatory frameworks, enhancing prepaid card transaction security and reducing fraud risks. These measures foster consumer trust and broader adoption in various payment environments. Providers must implement robust security protocols, improving consumer trust as transactions are protected against unauthorized access and misconduct. Ongoing upgrades in security infrastructure will be crucial to comply with evolving regulations, fostering prepaid card adoption across sectors like retail, e-commerce, and travel. Prepaid Card Usage in E-commerce The surge in Finnish e-commerce has driven consumers towards prepaid cards for secure online transactions, providing spending control and mitigating fraud risks. With e-commerce platforms demanding flexible solutions, prepaid cards offer budgeting functions, particularly valuable for mindful spenders. The next few years might see issuers introduce tailored online shopping features amid growing prepaid card adoption. Reasons to Buy Gain an in-depth understanding of Finland's prepaid card and digital wallet market dynamics, opportunities, key trends, and forecast. Identify growth segments and formulate strategies targeting specific market opportunities. Analyze detailed market share dynamics and consumer attitudes to boost ROI. Key Attributes: Report Attribute Details No. of Pages 159 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $4.08 Billion Forecasted Market Value (USD) by 2029 $5.25 Billion Compound Annual Growth Rate 6.5% Regions Covered Finland Key Topics Covered: 1 About this Report2 Finland Prepaid Payment Instrument Market Size and Future Growth Dynamics3 Digital Wallet Market Size and Future Growth Dynamics4 Finland Digital Wallet Market Size and Growth Dynamics by Key Segments5 Finland Digital Wallet Retail Spend Dynamics6 Finland Prepaid Card Industry Market Attractiveness7 Finland Open Loop Prepaid Card Future Growth Dynamics8 Finland Closed Loop Prepaid Card Future Growth Dynamics9 Finland Prepaid Card Market Share by Key Players10 Finland Prepaid Card Consumer Usage Trends11 Finland Prepaid Card Retail Spend Dynamics12 Finland General Purpose Prepaid Card Market Size and Forecast13 Finland Gift Card Market Size and Forecast14 Finland Entertainment and Gaming Prepaid Card Market Size and Forecast15 Finland Teen and Campus Prepaid Card Market Size and Forecast16 Finland Business and Administrative Expense Prepaid Card Market Size and Forecast17 Finland Payroll Prepaid Card Market Size and Forecast18 Finland Meal Prepaid Card Market Size and Forecast19 Finland Travel Forex Prepaid Card Market Size and Forecast20 Finland Transit and Tolls Prepaid Card Market Size and Forecast21 Finland Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast22 Finland Fuel Prepaid Cards Market Size and Forecast23 Finland Utilities, and Other Prepaid Cards Market Size and Forecast24 Finland Virtual Prepaid Card Industry Market Attractiveness25 Finland Virtual Prepaid Card Market Size and Future Growth Dynamics26 Further Reading For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Finnish Prepaid Card and Digital Wallet Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Daily Mail
11-06-2025
- Daily Mail
Cybersecurity experts discover 20 apps skimming your digital wallet: 'Delete NOW'
Cybersecurity experts are warning that millions of people could be at risk of having their digital wallets emptied unless they delete several apps right away. A team at cybersecurity company Cyble has uncovered 20 apps that can trick people into handing over access of their cryptocurrency to hackers. The phony apps were found in the Google Play Store and impersonate trustworthy digital wallet apps available for download, using the same exact name or a close copy that could be easily overlooked. The fake apps include Pancake Swap, Suiet Wallet, Hyperliquid, Raydium, BullX Crypto, Meteora Exchange, Harvest Finance Blog, SushiSwap, and OpenOcean Exchange. These malicious apps also use identical or similar logos and designs to trick users into downloading them from the Google Play Store. Although the fake digital wallets use the same name as legitimate apps, people can tell if it's a phony by checking the developer name. The real PancakeSwap app will say that the developer is the PancakeSwap team, while the fake one that steals your money uses a developer 'package' that reads Cyble revealed that the other 11 apps that digital wallet users need to delete right away use variations of the app names for Suiet Wallet, Raydium, SushiSwap, Hyperliquid, BullX Crypto, and Harvest Finance blog, as well as different developer packages. Simply put, you may encounter multiple copies of the same SushiSwap app in the Google Play Store but only one of them is the real thing. Without checking the developer package and looking for other suspicious signs that the app is a fraud, you could download the wrong digital wallet and give a hacker a secret back door to your cryptocurrency. Key ways to spot a phony copy of a trust app include seeing a very low number of downloads. Normally, a popular app will have been downloaded thousands, if not millions, of times. A long list of positive reviews about the app on its Google Play Store page will also help prove that you've found the right one. Estimates show that more than 400 million people worldwide use cryptocurrency, including millions of Android owners. The fake apps are designed to trick users into entering their 12-word mnemonic phrase, a secret code used to access cryptocurrency wallets. Once entered, hackers can steal this phrase, gain access to your real wallet, and take your cryptocurrency, which can't be recovered once it's gone. Stolen cryptocurrency can't be returned because blockchain transactions are permanent, decentralized, and irreversible, giving users more anonymity than regular banking. The scheme could affect anyone who stores digital currencies like Bitcoin or Ethereum in one of these fraudulent wallets. Making the scam even harder to spot is the fact that researchers found the developer packages (or accounts) were at one time reputable app makers. 'These accounts were originally used to distribute legitimate apps, including gaming, video downloader, and live streaming applications, and some have amassed over 100,000 downloads,' the Cyble team wrote in their report. Hackers either compromised these accounts by stealing the login credentials of the original developers or repurposed them, meaning they bought or took over the accounts (legally or illegally) to use for their own purposes. Once in control of the app package, hackers used these trusted accounts to publish the 20 malicious cryptocurrency phishing apps, including the fake PancakeSwap and SushiSwap wallets. Since the accounts already had a history of being a legitimate service with high download numbers, the fake apps appeared to be almost as trustworthy as the real things in the Google Play Store. If you downloaded the fake wallet use your mnemonic phrase, hackers can access your actual cryptocurrency wallet on the blockchain, even if it's on a different app or device, since the phrase works universally for compatible wallets. The app itself is fake. It doesn't manage or store your crypto like a legitimate wallet. Instead, it's all a front to steal that security code. Once hackers have the phrase, they interact directly with the blockchain to move your real cryptocurrency to their wallets. To check if you've got the right app, go to your Android device's app settings or the Google Play Store to see if any of these apps (or their package names) are installed. Package names can be found in the Play Store under the app's details or in your device's app info. For iPhone users, Apple's App Store uses a stricter app review process. However, iPhone users aren't completely safe as similar phishing scams could target iOS through other means, like fake websites or unofficial app sources. Apple users can stay safe by sticking with downloads from the official App Store, avoid sideloading apps from unknown sources, and avoiding suspicious links in emails or texts asking for wallet details. Cyble Research and Intelligence Labs (CRIL) reported the fake apps to Google which has removed most of the apps, but some are still in the Play Store. 20 Malicious Digital Wallet Apps to Delete Immediately Pancake Swap - Package: Suiet Wallet - Package: Hyperliquid - Package: Raydium - Package: Hyperliquid - Package: BullX Crypto - Package: OpenOcean Exchange - Package: Suiet Wallet - Package: Meteora Exchange - Package: Raydium - Package: SushiSwap - Package: Raydium - Package: SushiSwap - Package: Hyperliquid - Package: Suiet Wallet - Package: BullX Crypto - Package: Harvest Finance blog - Package: Pancake Swap - Package: Hyperliquid - Package:
