Payment Card Issuance Software- Market Scope
Payment card issuance software is a system that is used to print, encode, and encode payment cards. The system is used by financial institutions and card issuing companies to send out cards to customers. The software is also used to encode cards with personal information and other data. Companies on the other hand use this software to issue and generate cards for their employees. Increasing Number of Connected and Digitally Active Consumers. Significant Rise in the Number of Internet Users are Fueling the Growth of the Market. Growing Demand in Banks use this Software Technology to Issue Cards for their Customers
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Bento Technologies Inc (United States), Pleo Technologies A/S (Denmark), ACI Worldwide Inc (United States), BankWorld Inc (United States), SAP SE (Germany), Entrust Corp (United States), Galileo (United States), Payhawk (United Kingdom), Stripe Issuing (United States) and ACI Issuing (United States) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Bento Technologies Inc (United States), Pleo Technologies A/S (Denmark), ACI Worldwide Inc (United States), BankWorld Inc (United States), SAP SE (Germany), Entrust Corp (United States), Galileo (United States), Payhawk (United Kingdom), Stripe Issuing (United States) and ACI Issuing (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Payment Card Issuance Software- market by Type and Region with country level break-up.
On the basis of geography, the market of Payment Card Issuance Software- has been segmented into
. region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On 14th Oct 2021, Bento Technologies, a leading expense management platform designed to simplify and consolidate complex financial services for the SMB segment, and an Espresso Capital portfolio company, has been acquired by U.S. Bank. Bank - the fifth largest banking institution in the United States-bring payments and banking services together to simplify cash flow and money management for small businesses.
On 26th April 2021, Stripe Issuing Launches in Europe - Key Information On Competition. Just one year ago, amid the surge of on-demand delivery, Stripe rolled out its Issuing Service across the US. Their expansion to Europe can be seen as a great indicator of the success of this service in the US. Both payments companies are targeting each other’s clients in a fiercely competitive battle. Stripe, being very well established for small to medium-sized businesses, are upscaling their payments processing abilities to target enterprise-level prospects with their service offerings.
Influencing Trend:
Rising Adoption of Smartphones are some key factors that are accelerating the market growth and Growing Trend for Virtual Payment Cards for Several Businesses and Financial Institutes
Market Growth Drivers:
Increasing Number of Connected and Digitally Active Consumers., Significant Rise in the Number of Internet Users are Fueling the Growth of the Market and Growing Demand in Banks use this Software Technology to Issue Cards for their Customers
Challenges:
Regulatory changes by the various governments and Fluctuations in the world economy
Restraints:
Miss Use of Payment Cards Issuance Software
Opportunities:
Increased Government Spending On Payment Card Issuance and Technology Advancement Includes Artificial Intelligence and Machine Learning
Key Target Audience
Commercial Payment Cards Providers, Research Professionals, Emerging Companies, Government Body & Associations and End user