Cards and Payments Market Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024
Payments cards are the part of the payment system that enables the user to make the payment through electronic fund transfer. Credits and debit cards are the two most common types of cards that are being frequently used. These are generally embossed plastic cards which comply with certain standards. These cards are usually linked to the deposit, credit or loan account of the card holder from which money get transferred. Mobile wallets and other online transactions options are the major reason for the increasing adoption of these card based technology and payment options.
Strong growth of card transactions due to convenience and various promotions activities by the users are the major reasons driving the market growth. Safety issues, and risk of carrying big amount are some of the factors that are leading to the growth. Lack of knowledge or awareness regarding the use of these cards in some rural areas of developing countries, high machine maintenance cost, and lack of cash in the machine or ATMs are some factors restricting the market growth. Increasing disposable income and standard of living is expected to propel the need for these cards based transaction and hence is expected to provide large opportunities for these cards based transactions in the emerging economies.
The global cards and payments market has been segmented into type, service providers and geography. On the basis of type, market has been divided into credit cards, debit cards, charge cards, stored value cards and other types. On the basis of service providers, the market has been segmented as private banks and government banks.
Based on geography, global cards and payments market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia- Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are Bank of America, American Express, JPMorgan Chase, Wells Fargo, Citibank, Bank of America, CIMB, Capitol One, Itau Unibanco, and SBI, among others.
The key takeaways from the report
- The report will provide detailed analysis of Cards and Payments Market with respect to major segments such as type, service providers, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Cards and Payments Market has been included in the report
- Profile of the key players in the Cards and Payments Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Cards and Payments Market
- Credit Card
- Debit Card
- Charge Card
- Stored Value Card
- Other Types
Service Providers Segments
- Private Banks
- Government Banks
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East