About Commercial Card
A commercial is a credit card provided by a corporation to its workers for use in making transactions on the firm's behalf. Commercial cards, which are frequently provided as co-branded cards with retailers, assist businesses in managing their spending by consolidating all charges made by employees into a single location. Commercial cards are a readily available solution that fits many of the fundamental requirements of buyer-seller settlement, such as transparency, security, and process efficiency, as the digitization of B2B transactions accelerates.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Commercial Card market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
JPMorgan Chase & Co. (United States), Bento Technologies Inc. (United States), American Express (United States), Santander Bank (United States), Silicon Valley Bank (United States), Citibank (United States), Barclaycard (United Kingdom), MUFG (Japan), Capital One (United States) and CreditCards.com (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are WEX Inc. (United States), Wells Fargo (United States) and Mastercard (United States).
Segmentation Overview
AMA Research has segmented the market of Global Commercial Card market by Type (Purchasing Card, Business Card, Corporate Card and Travel And Entertainment Card), Application (Small-medium Size Enterprises and Large Size Enterprises) and Region.
On the basis of geography, the market of Commercial Card has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Corporate Credit Card will boost the Commercial Card market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Business-to-Business Purchases will boost the Commercial Card market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Virtual Card Is The Fastest Growing Segment Of The Commercial Card Market
Market Growth Drivers:
Increasing Small-medium Size Business Across the world
Challenges:
Increasing Risk Of Security Breaches and Stringent Regulatory Guidelines Involved with the Commercial Cards
Restraints:
Limited Customer Support Options and Some Card Options Have Pricey Annual Fees
Opportunities:
Government Regulations To Decrease Interchange Fees Will Help To Surge Acceptance Of Commercial Cards Among Merchants
Market Leaders and their expansionary development strategies
In September 2022, J.P. Morgan acquired Renovite Technologies, a leading cloud-native payments technology company. The strategic acquisition of Renovite will help J.P. Morgan Payments build its next-generation merchant acquiring platform, bolster the firm’s payments modernization strategy and support its journey to the cloud. Upon closing of the transaction, Renovite will become part of J.P. Morgan Payments, which combines corporate treasury services, trade finance, card and merchant services capabilities at the firm, delivering an integrated payments experience to clients across the economy.
In November 2021, Mastercard announced the next evolution of the payments model with the launch of a new commercial card offering designed specifically for small and medium enterprises.
Key Target Audience
Commercial Card Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.