Digital Gift Cards Market Size, Share, Growth, Trends, and Global Industry Analysis: By Functional Attribute (Open-loop Card, Closed-loop Card), By Application (Consumer Goods, Health & Wellness, Restaurants & Bars, Travel & Tourism, Media & Entertainment), By End User (Retail, Corporate) and Region Forecast 2021-2032

Digital Gift Cards Market size was valued at US$ 170.7 billion in 2025 and is expected to reach US$ 437.7 billion by 2032, growing at a significant CAGR of 14.4% from 2026-2032. A gift card is a stored value card that may be used to purchase goods and services at a specific store or company store instead of cash. Digital gift cards are frequently used as part of company development initiatives to promote enterprises, raise brand awareness, reduce fraud, and attract new clients. As a result, these cards find extensive applications across diverse sectors, including food & beverages, retail, hospitality, consumer electronics, and others. Gift cards, also known as gift certificates, gift tokens, prepaid cards, or gift vouchers, are usually issued by a shop or a bank.

Furthermore, gift cards are used as a marketing tool by merchants and online enterprises to advertise their businesses, attract new customers, create brand awareness, reduce fraud, and increase sales. Moreover, a gift card can be used as a substitute for cash at a specific store or business store for purchases of goods or services. They are sometimes referred to as cash cards since they are issued by merchants and marketers as part of a marketing campaign to persuade the receiver to come in or return to the store. 

Key Developments

• In December 2024, On Me, a personalized digital gifting platform, announced a 5-year industry partnership with Mastercard and secured $1.7 million in pre-seed funding from Lerer Hippeau and Focal.VC. Co-founded by former Google Product Managers Darragh Meaney and Sitar Harel, the company aims to modernize the $200 billion gift card industry by integrating with Apple Pay and Google Pay, replacing outdated magnetic swipe technology with seamless mobile wallet transactions.
• In September 2023, Ingenico, a global leader in payment acceptance solutions, partnered with Diggecard, a provider of gift card technology, to integrate Diggecard’s services into PPaaS, Ingenico’s cloud-based Payments Platform as a Service. This collaboration enhances gift card solutions for merchants by enabling seamless digital transactions.
• In September 2023, the Open Network for Digital Commerce (ONDC) introduced the “ONDC Network Gift Card.” This network-wide gift card is designed to enhance corporate gifting, employee engagement, and consumer shopping experiences by enabling purchases across thousands of sellers via ONDC-enabled buyer applications.