Global Payment Card Market Overview:
Payment cards are the cards that are parts of the payment system normally issued by financial institutions. These cards are electronically linked to an account or accounts belonging to the cardholder. These cards are of numerous types such as credit cards, debit cards and others. These cards are issued for payment and portable transactions majorly in deposit, or loan or credit accounts. Increased Disposable Income of the People, Increased Demand from the Consumers and Higher Credit Limits of the Payment Cards are the key factors driving the global payment card market. However, misuse of payment cards as well as privacy and security issues may hinder the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Technological Advancements in the Numerous Industries and Growing Demand for Premium Payment Cards such as Metal Cards
Market Growth Drivers:
Increased Disposable Income of the People, Increased Demand from the Consumers and Higher Credit Limits of the Payment Cards
Challenges:
Privacy and Security Issues
Restraints:
Misuse of the Payment Cards
Opportunities:
Growing Demand from End-user Industries, Increasing Applications of Payment Cards and Rising Trend of Digitalization
Competitive Landscape:
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations.
Some of the key players profiled in the report are Mastercard Incorporated (United States), Visa, Inc. (United States), American Express (United States), BofA Securities, Inc. (United States), Banco do Brasil S.A. (Brazil), The Bank of East Asia Limited (Hong Kong), Diners Club International (United States), Hang Seng Bank Limited (Hong Kong), JPMorgan Chase (United States) and Sumitomo Mitsui Banking Corporation (Japan). Additionally, following companies can also be profiled that are part of our coverage like WEX Inc. (United States) and Woori Bank (South Korea). Analyst at AMA Research see United States Players to retain maximum share of Global Payment Card market by 2030. Considering Market by Technology, the sub-segment i.e. Embossing will boost the Payment Card market.
Latest Market Insights:
In march 2021, Mastercard completed its acquisition of the majority of the Corporate Services business of Nets, a leading European PayTech company, having met the conditions set out by the European Commission in its approval in August 2020. The additions to Mastercard will support a broader set of account-to-account capabilities, including clearing and settlement instant payment infrastructure, bill payment and E-invoicing applications.
In August 2019, Mastercard Inc. announced the biggest acquisition in its history, as the card network continues its efforts to move beyond plastic. The company plans to acquire the account-to-account business of Danish payment-technology company
What Can be Explored with the Payment Card Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Payment Card Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Payment Card
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Payment Card market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Payment Card market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Payment Card Providers, Emerging Companies, Research Professionals and End-users.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.