Global Bank Card Market 2021-2026: Government Initiatives Supporting Cashless Transactions

DUBLIN, October 01, 2021– (BUSINESS WIRE) – The “Global Bank Card Market (2021-2026) by Payment Transactions, Card Type, Service Provider, Application, End User, Geography, Competitive Analysis and Impact of Covid-19 with ‘Ansoff analysis’ report was added to ResearchAndMarkets.com offer.

The upsurge in the need for consumer credit manages to be very evident during an economic disaster during the COVID-19 outbreak where wage cuts and job losses are possible, and individuals use it to cover their costs. daily costs shown in their credit card balance. Thus, the growth in demand for bank cards leads to the expansion of the market. In addition, the growth is mainly due to the reorganization of their operations by companies and the resumption of the COVID-19 effect, which has led to isolated work, social distancing and the closure of profitable activities which caused operational challenges.

The threat of counterfeit losses on credit cards, general purpose prepaid debits and private label payments is present worldwide. Thus, the growing number of frauds is expected to hamper the progress of the bank card market in the years to come.

Market segmentation

  • The global bank card market is further segmented on the basis of payment transactions, card type, service provider, application, end user, and geography.

  • By payment transactions, the market is classified into ATMs and points of sale. Among the two, the ATM segment is expected to hold the highest market share during the forecast period.

  • By card type, the market is categorized into charge cards, credit cards, debit cards, and prepaid cards. Among all, the debit card segment is expected to hold the highest market share during the forecast period.

  • By service provider, the market is categorized as Visa, MasterCard, RuPay, and others. Among all of them, MasterCard segment is expected to hold the highest market share during the forecast period.

  • By application, the market is categorized as commercial, banking, trading, and others. Among all of them, the commercial segment is estimated to hold the highest market share during the forecast period.

  • By end user, the market is categorized into retail establishments, corporate institutions, government, financial institutions, and others. Among all of them, the financial institutions segment is estimated to hold the highest market share during the forecast period.

  • By geography, North America is expected to dominate the market.

The report includes Competitive Quadrant, a proprietary tool to analyze and assess the position of companies based on their Industry Position Score and Market Performance Score. The tool uses various factors to categorize players into four categories. Some of these factors taken into account for the analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc.

Highlights of the report:

  • A comprehensive market analysis including parent industry

  • Important market dynamics and trends

  • Market segmentation

  • Historical, current and projected market size based on value and volume

  • Market shares and strategies of the main players

  • Recommendations for companies to strengthen their presence in the market

Main topics covered:

1 Description of the report

2 Research methodology

3 Executive summary

4 market influencers

4.1 Drivers

4.1.1 Growing Penetration of Value-Added Credit Cards – Added Offers

4.1.2 Growing acceptance of different card payments in B2B and B2C industries

4.1.3 Government initiatives in favor of cashless transactions

4.2 Constraints

4.2.1 Risk of hacking and confidentiality issues

4.3 Opportunities

4.3.1 Increase Internet Penetration and Smartphone Adoption

4.3.2 Awareness program for children in the banking sector

4.4 challenges

4.4.1 Development of alternative payment methods such as Google Pay and PayPal

4.5 Trends

5 Market analysis

6 Global Bank Card Market, By Payment Transactions

7 Global Bank Card Market, By Card Type

8 Global Bank Card Market, By Service Provider

9 Global Bank Card Market, By Application

10 Global Bank Card Market, By End User

11 Global Bank Card Market, By Geography

12 Competitive landscape

12.1 Competitive quadrant

12.2 Market share analysis

12.3 Strategic initiatives

12.3.1 M&A and investments

12.3.2 Partnerships and collaborations

12.3.3 Product developments and improvements

13 company profiles

  • American Express Company

  • Bank of America Corporation

  • Capital One Financial Corp

  • Citigroup Inc

  • JPMorgan Chase And Co

  • Embedded MasterCard

  • PayPal Holdings Inc

  • PayU

  • National Bank of India

  • Visa Inc

  • Kaiku Finance LLC

  • Mango Financial Inc

  • Green Dot Company

  • NetSpend Holdings

  • BBVA Compass Bancshares

  • UniRush

  • HDFC SA Bank

  • ICICI Bank Limited

  • Axis Bank Limited

  • Baroda Bank

  • Wells fargo

  • Discover the Bank

  • Total System Services Inc

  • The PNC Financial Services Group Inc.

  • Western Union company

For more information on this report, visit https://www.researchandmarkets.com/r/p7zq0i

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See the source version on businesswire.com: https://www.businesswire.com/news/home/20211001005277/en/

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