According to the latest report from the IMARC group, entitled “Credit Card Payments Market Report: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027”, The global credit card payments market reached a value of XX billion US$ in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during the period 2022-2027.
A credit card is a payment device offered by financial organizations that allows its holder to make purchases without using cash at the point of sale by granting them a credit limit. It is a dynamic payment method that allows cardholders to pay fees collected from card issuers over time. A credit card helps consumers increase their purchasing power, build a credit score for home loans, and provide cash back, mileage points, and no international transaction costs. As a result, credit card payment solutions are used in many industries, such as healthcare, food and beverage (F&B), travel, etc.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Global credit card payments market trends:
The growing demand for financial alternatives for emergencies and monthly payments is one of the major factors driving the credit card payment market. Additionally, the growing use of the products to purchase televisions, computers, cell phones, vacation packages, jewelry, etc., is further catalyzing the growth of the market. Additionally, the widespread availability of low-cost credit cards is acting as another important growth driver. In addition to this, various advancements in Blockchain technology aimed at ensuring database security are also increasing the global credit card market. In addition, several companies are offering personalized credit cards to their staff to track travel, meals, accommodation and inventory, further boosting product demand. Apart from this, increasing investments in research and development (R&D) activities aimed at providing customers with enhanced digital prepaid card services are expected to bolster the credit card payments market in the coming years.
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Global Credit Card Payments Market 2022-2027 Analysis and segmentation:
Competitive landscape with key players:
The competitive landscape of the industry was also reviewed, along with the profiles of key players, namely:
- American Express Company
- Bank of America Corporation
- Barclays PLC
- Capital One Financial Corporation (Signet Financial Corporation)
- Citigroup Inc.
- JPMorgan Chase & Co
- Mastercard Inc.
- PNC Financial Services Group Inc
- United Services Automobile Association
- visa inc.
Breakdown by card type:
- General Purpose Credit Cards
- Specialized credit cards
Breakdown by supplier:
Breakdown by application:
- Food and groceries
- Health and Pharmacy
- Restaurants and bars
- Consumer electronics
- Media and Entertainment
- travel and tourism
Breakdown by region:
- North America (USA, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Main highlights of the report:
- Porter’s Five Forces Analysis
- Market drivers and success factors
- Value chain
- Complete mapping of the competitive landscape
To note: If you need specific information that is not currently covered in the report, we can provide it to you as part of the customization.
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