Credit Card Market
Financial Services

Global Credit Card Market Overview And Prospects

Learn about the global credit card market through The Business Research Company, which provides information on credit card market size, credit card market drivers and restraints, credit card market players, the COVID-19 impact on the credit card market, and more.

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The global credit card market is expected to grow from $100.05 billion in 2020 to $103.06 billion in 2021 at a compound annual growth rate (CAGR) of 3%. 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 $107.69 billion in 2025 at a CAGR of 1.1%.

The rising demand for credit card is expected to drive innovation in credit card manufacturing, thus driving the market during the forecast period.

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The credit card market consists of sales of credit card services by entities (organizations, sole traders, and partnerships) that are engaged in storing, processing, and transmitting payment card data. Credit cards are payment cards issued by banks and financial institutions that can be used to borrow funds. Credit cards are mostly used for short-term financing of consumer goods and services. The credit limit is preset depending on the borrower’s credit rating and credit cardholders are charged interest each month by the credit card provider. Only goods and services traded between entities or sold to end consumers are included.

Global credit card market segments include:

By Type: Reward Card, Credit Builder Card, Travel Credit Card, Balance Transfer Card, Others

By Card Type: Base, Signature, Platinum

By Service Provider: Visa, Mastercard, RuPay, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

The growing technological innovation is a key trend gaining popularity in the credit card market. Major corporations are concentrating on offering digital prepaid card services in emerging economies to attract a large consumer base for a prepaid credit card.

TBRC’s credit card market report covers:

Major Market Players: Citibank, American Express Company, Mastercard Incorporated, Visa Inc., JPMorgan Chase & Co., Mango Financial Inc., BBVA Compass Bancshares Inc, Total System Services Inc, The PNC Financial Services Group Inc., Capital One Financial Corporation.

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)

The Credit 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 credit card market overviews, analyzes and forecasts market size, share, credit card market players, credit card market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s credit card market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports From The Business Research Company:

Mobile Payment Technologies Global Market Report 2021

Payments Global Market Report 2021

Cards And Payments Market

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