Global Card Market Report 2022: Growing Demand for Credit

Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) — The “Cards Global Market Report 2022” has been added to from ResearchAndMarkets.com offer.

The global card market is expected to grow from $251.33 billion in 2021 to $275.5 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The market is expected to reach $399.15 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.

The card market consists of the sale of card services by entities (organizations, individual merchants and partnerships) that are involved in the storage, processing and transmission of payment card data. This market covers issuing and acquiring banks, card processors, issuing companies and others. Card market revenue includes all processing and service fees collected by banks and financial institutions for processing card payments. It excludes interest charged by banks on payment cards.

The main card types are general purpose and private labels. General purpose cards can be used as debit cards for retail purposes and are used to deposit payments online. The cards are used for general purpose reloadable cards, government benefit/disbursement cards, payroll cards and other uses. The cards are used by retail establishments, businesses, government, financial institutions and other end users.

Asia Pacific was the largest card market region in 2021. Western Europe was the second largest card market region. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Rising demand for credit cards is expected to fuel the card market growth over the forecast period. The increase in demand for consumer credit products is usually very noticeable during times of economic crisis. According to TransUnion CIBIL Limited, an India-based credit information company, credit card debt and number of accounts increased by 40.7% and 29.8% respectively with 44.5 million cards in circulation in 2019.

The growing incidence of fraud is expected to hamper the card market growth in the coming years. Fraud losses are incurred on all credit, debit, prepaid general purpose and private label payment cards distributed globally by payment card issuers, retailers, purchasers of card purchases at retailers and card transaction acquirers at ATMs.

For example, according to the Aite Group, a company that provides insurance services in 2020, 47% of Americans have experienced financial theft and found that losses from these identity theft cases cost $502.5 billion. in 2019 and had increased by 42% to nearly $712.4 billion in 2020. $721.3 billion in 2021. Hence, the growing incidence of fraud is restraining the growth of the card market.

Scope
Covered markets:
1) By type: General purpose; Private label
2) Per use: reloadable card for general use; Government benefit/disbursement card; pay card; other use
3) By end user: retail establishments; Corporate institutions; Government; Financial institutions; Other end users

Main topics covered:

1. Summary

2. Characteristics of the card market

3. Card Market Trends and Strategies

4. Impact of COVID-19 on Cards

5. Card Market Size and Growth

6. Maps Market Segmentation

7. Regional and Country Map Market Analysis

8. Asia-Pacific Map Market

9. Card market in China

10. India card market

11. Card market in Japan

12. Australian Card Market

13. Card market in Indonesia

14. Card market in South Korea

15. Western Europe Card Market

16. UK card market

17. Card market in Germany

18. France card market

19. Eastern Europe Card Market

20. Russian Card Market

21. North America Card Market

22. US Card Market

23. South America Card Market

24. Card market in Brazil

25. Middle East Card Market

26. Africa Map Market

27. Maps Market Competitive Landscape and Company Profiles

29. Key mergers and acquisitions in the card market

29. Maps Market Future Outlook and Potential Analysis

30. Appendix

Companies cited

  • Citibank
  • Mastercard Incorporated
  • American Express Company
  • visa inc.
  • JPMorgan Chase & Co.
  • Kaiku Finance LLC
  • Mango Financial Inc.
  • Green dot company
  • NetSpend holdings
  • PayPal Credits
  • BBVA Compass Bancshares
  • UniRush
  • HDFC Bank Ltd.
  • SBI cards and limited payment services
  • ICICI Bank Limited
  • Axis Bank Limited
  • Bank of Baroda
  • Capital One Financial Corporation
  • The Bank of America Corporation
  • Wells Fargo
  • Discover the bank
  • Total System Services Inc.
  • PNC Financial Services Group Inc.
  • TSYS
  • eBay
  • The Western Union Company

For more information on this report visit https://www.researchandmarkets.com/r/3kd98z


        

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