Market Snapshot:
Corporate cards are used for various purpose by the individual such as travel, business and purchasing. Different type of corporate cards are available such as purchase, gift, travel, and entertainment cards. As compared to other methods such as check or cash, it helps in easy payment across the globe. Hence, increasing preference of users along with increasing online transactions for payment process are the major factors which are driving the market growth.
Highlights from Commercial/Corporate Card Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Players profiled in the report are AirPlus International Ltd. (Germany), American Express Company (United States), Bank of America Corporation (United States), Citigroup, Inc. (United States), JP Morgan Chase & Co. Inc. (United States), U.S. Bancorp (United States), Wex Inc. (United States), Wells Fargo & Company (United States), Corporate Spending Innovations Enterprises, Inc. (United States) and NGC US, LLC (United States). Additionally, other players that are part of this comprehensive study are Bank of China Limited (China).
Geographic Breakdown and Segment Analysis
The Global Commercial/Corporate Card market presents a comprehensive analysis of the Commercial/Corporate Card market by product type (Open-Loop and Closed Loop Cards), by end-user/application (Small Business Credit Cards and Corporate Credit Cards), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Commercial/Corporate Card industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Commercial/Corporate Card market
Analyst at AMA have segmented the market study of Global Commercial/Corporate Card market by Type, Application and Region.
Influencing Trend:
Increased spending limits and Enhanced fraud protection
Market Growth Drivers:
Strict Government Regulations are fueling the Market Growth and Increased Acceptance of Corporate or Commercial Credit Cards
Challenges:
Changing Customer Preferences and Integration and Exciting Systems
Restraints:
Rising Usage of Personal Credit Cards may hamper the Market
Opportunities:
Increasing Disposable Income and Changing Consumption Technologies
Market Developments Activities:
In October 2023, American Express has announced a partnership with Marriott Bonvoy Introduce Exclusive Destination-Dining Events for Card-Members. This article announces a new culinary event series that brings together Card Members' love of dining and travel at extraordinary hotels that participate in Marriott Bonvoy. The first event will be held at W Boston on October 19-22, 2023, and will feature Chef Michael Solomonov.
In October 2023, JP Morgan Chase has launched a new commercial card specifically designed for small businesses. The card offers a variety of benefits, including: No annual due, 2% cash back on all the purchase, Free access to business banking tools
The competitive landscape for commercial and corporate cards is likely to continue to evolve rapidly in the years to come. As businesses become more digital and data-driven, they will demand more innovative and sophisticated card solutions. This will create opportunities for new players to enter the market and disrupt the traditional players.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations