The Global Charge Card Market Report by The Business Research Company covers charge card market drivers and restraints, charge card market size, major players, and the impact of COVID-19 on the charge card market.
The charge card market consists of sales of charge card services by entities (organizations, sole traders, and partnerships) that are engaged in storing, processing, and transmitting payment card data. Charge cards are similar to credit cards but do not have a preset credit limit. Cardholders are not charged any interest and are required to pay the outstanding balance in full upon receiving a statement. Only goods and services traded between entities or sold to end consumers are included.
No pre-set spending limit and greater flexibility in spending contributed to the growth of the charge card market. The global charge card market is expected to grow from $1.92 billion in 2020 to $1.98 billion in 2021 at a compound annual growth rate (CAGR) of 3.1%. 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 charge card market is expected to reach $2.05 billion in 2025 at a CAGR of 0.9%.
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Some charge card market trends include offering premium rewards, maximize reward points based on spending patterns, and also offer a variety of travel and purchase protections. For instance, American Express offers complimentary Airport lounge access, hotel room upgrades, travel insurance, and much more. The customers will be able to improve their credit score by using charge card responsibly and paying on time every month.
Global charge card market segments include:
1) By Type: Gold Card, Platinum Card, Plum Card, Business Gold Card, Business Platinum Card, Others.
2) By Institution Type: Banking Institutions, Non-Banking Institutions.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Charge Card 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 charge card market overviews, analyzes and forecasts market size, share, charge card market players, charge card market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The charge card market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Charge Card 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, Diners Club, Coutts Silk
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 Charge Card 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 Charge Card Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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