According to the latest report by IMARC Group, titled “Credit Card Payment Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global credit card payment market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.
A credit card is a payment device offered by financial organizations that allows cardholders to make purchases without using cash at the point of sale by granting them a credit limit. It is a dynamic way of payment that enables cardholders to pay collected charges to card issuers over time. A credit card helps consumers in increasing their purchasing power, establishing a credit score for home mortgages, and providing cashbacks, mileage points, and no international transaction costs. As a result, credit card payment solutions are utilized across numerous industries, such as healthcare, food and beverage (F&B), travel, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Credit Card Payment Market Trends:
The rising demand for financial alternatives for emergencies and monthly payments is one of the key factors driving the credit card payment market. Moreover, the inflating product utilization to purchase TVs, computers, cellphones, vacation packages, jewelry, etc., is further catalyzing the market growth. Besides this, the widespread availability of low-cost credit cards is acting as another significant growth-inducing factor. In addition to this, various advancements in Blockchain technology aimed at ensuring database security are also augmenting the global market for credit cards. Furthermore, several companies are offering customized credit cards to their staff to keep track of travel, meals, lodging, and inventories, which is further bolstering the product demand. Apart from this, the elevating investments in research and development (R&D) activities aimed at providing clients with improved digital prepaid card services are expected to bolster the credit card payment market in the coming years.
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Global Credit Card Payment Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- American Express Company
- Bank of America Corporation
- Barclays PLC
- Capital One Financial Corporation (Signet Financial Corporation)
- Citigroup Inc
- JPMorgan Chase & Co
- Mastercard Inc.
- The PNC Financial Services Group Inc
- United Services Automobile Association
- Visa Inc.
Breakup by Card Type:
- General Purpose Credit Cards
- Specialty Credit Cards
Breakup by Provider:
Breakup by Application:
- Food and Groceries
- Health and Pharmacy
- Restaurants and Bars
- Consumer Electronics
- Media and Entertainment
- Travel and Tourism
Breakup by Region:
- North America (United States, 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, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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