The Global Cards & Payments Market Report by The Business Research Company covers cards & payments market drivers and restraints, cards & payments market size, major players, and the impact of COVID-19 on the cards & payments market.
The cards and payments market consists of sales of cards and payments services by entities (organizations, sole traders and partnerships) that are engaged in storing, processing and transmitting payment card data.
The global cards & payments market is expected to grow from $671.73 billion in 2020 to $729.9 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $961.34 billion in 2025 at a CAGR of 7%.
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Some cards & payments market trends include cards and payments companies investing in technologies and formulating guidelines to prevent card and payment frauds. In this regard, payment service providers and merchants have implemented various solutions including the Payment Card Industry Data Security Standard (PCI DSS) compliance, EMV technology, 3-D Secure services, tokenization, biometrics and end-to-end encryption. To combat the constantly evolving card fraud methods, the National Retail Federation (NRF) also updates its security guidelines continuously.
Global cards & payments market segments include:
1) By Type: Cards, Payments.
2) By Institution Type: Banking Institutions, Non-Banking Institutions.
Subsegments Covered: Credit Card, Debit Card, Charge Card, Prepaid Card.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global cards & payments market, accounting for 33% of the market.
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The Cards & Payments Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides cards & payments market overviews, analyzes and forecasts market size, share, cards & payments market players, cards & payments market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The cards & payments market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Cards & Payments Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: American Express Company, Visa, Bank of America, PayPal, Mastercard
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Cards & Payments Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Cards & Payments Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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