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2021
Credit Card Payments Market

Credit Card Payments Market By Card Type (General Purpose Credit Cards and Specialty & Other Credit Cards), Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, Travel & Tourism and Others), and Provider (Visa, MasterCard, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028

A11836
Pages: 249
Jun 2021 | 1073 Views
   
Author(s) : Pramod Borasi, Shadaab Khan , Vineet Kumar
Tables: 52
Charts: 34
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Credit Card Payments Market Outlook - 2028

The global credit card payments market revenue was valued at $138.43 billion in 2020, and is projected to reach $263.47 billion by 2028, growing at a CAGR of 8.5% from 2021 to 2028. 

The COVID-19 pandemic has negatively impacted the credit card payments market, owing to limited consumer spending caused by rise in pay cuts and job losses across the globe. In addition to this, ban on travel, closing of various bars & restaurant and growing ban on essential and non-essential goods across the globe is adversely impacting the market growth.

A credit card is a piece of metal or plastic issued by a financial services company or banks, which allows cardholders to borrow funds to pay for goods and services with different types of merchants. Furthermore, credit cards provided by the banks and other fintech institutions help customer purchase different types of services on credit without having to put up cash at the point of sale. Instead, the charges accrue as a balance that must be paid off on a monthly billing cycle, giving the buyer more time to get the cash together.

Credit-Card-Payment-Market-2021-2028

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Rise in demand for cash alternatives and availability of affordable credit cards across the globe boost the growth of the global credit card payments market size. In addition, rise in demand for credit card among the developing nations positively impacts the growth of the market. However, factors such as increase in credit card frauds across the globe is expected to hamper the credit card payments market growth. On the contrary, technological advancements in product offering like using blockchain for increased security is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

By type, the general purpose credit cards segment garnered the largest credit card payments market share in 2020, and is expected to maintain its dominance in the upcoming years as general purpose credit cards offer an array of exclusive rewards and perks owing to which many credit card users are adopting premium cards. However, the specialty & other credit cards segment is expected to witness highest growth, owing to higher credit or spending limits provided by the banks for this credit cards as compared to others. In addition, various organizations are providing special credit cards to their employees for keeping tracks on employee spending on travel, purchases of inventory or supplies, and other responsibilities, which is propelling the growth of the market.

Credit Card Payments Market
By Card Type

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General Purpose Credit Cards Segment holds a dominant position throughout the forecast period.

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Region wise, the credit card payments market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to number of factors such as rapid penetration of credit card in the economy of this region. In addition, Americans are hugely dependent on credit cards as nearly 47% of U.S. adults or around 120 million people have credit card debt in 2020, which enhances the growth of the market. 

However, Europe is expected to witness significant growth during the forecast period, owing to rise in loyalty programs and credit card reward points provided by companies to increase their market share and growing trend of credit cards among the youths of developed nations, which include UK, Germany and other. In addition to this, people in this region are more inclined toward cash transaction, owing to which many credit card providers are providing various offers for enhancing their market share and to increase revenue opportunities which in turn is providing lucrative opportunity for the market in the region.    

Credit Card Payments Market
By Application

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Travel & Tourism segment will grow at a highest CAGR of 15.5% during 2021 - 2028

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The report focuses on growth prospects, restraints, and trends of the global credit card payments market analysis. The study provides Porter’s five forces analysis to understand impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global credit card payments industry.

Segment Overview

The global credit card payments market is segmented on the basis of card type, application, provider, and region. In terms of card type, the market is divided into general purpose credit cards and specialty & other credit cards. Depending on application, it is fragmented into food & groceries, health & pharmacy, restaurants & bars, consumer electronics, media & entertainment, travel & tourism and others. On the basis of enterprise size, it is classified into Visa, MasterCard, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Competitive Analysis 

The key players profiled in the Credit Card Payments Market are American Express, Bank of America Corporation, Barclays PLC, Capital One, Citigroup Inc., JPMorgan Chase & Co, MasterCard, Synchrony, The PNC Financial Services Group, Inc., and USAA. These players have adopted various strategies to increase their market penetration and strengthen their position in the credit card payments industry. 

COVID-19 Impact Analysis

The COVID-19 pandemic has led to decline in the revenue of credit card payments market due to implementation of lockdown by governments in majority of the countries and rise in pay delays and job losses are increasing day-by-day. In addition, growth in lockdown and loss of jobs have led consumers to shift from credit card to debit cards as well as to reduce their spending limit, which is negatively impacting the growth of the market. Furthermore, shutdown of malls and growing travel restrictions across the globe have led to a significant decline in the conventional spending of the end users. In addition, various banks and fintech have started revising their credit card limits and interest rate, which will help them improve their losses suffered in the pandemic. 

Top Impacting Factors

Rise in Demand for Credit Cards Among the Developing Nations

Developing countries such as India, Hong Kong, and others have a huge working population and growth in adoption of digital payments systems among the working populations drive the growth of the credit card payments market. In addition, various countries are focusing on increasing the adoption of digital payments for their end users to reduce the spread of corona virus, which is driving the growth of the market. 
For instance, according to a research report published by Mastercard in 2020, 42% of Indians have increased the use of digital payment systems, which mainly include contactless credit cards, online payments, and others, which fuel the growth of the market. Furthermore, many companies are introducing beneficial points, rewards, and cashbacks to their customers for increasing their market share in developing nations, which is propelling the growth of the credit card payments market. 

Technological Advancement in Product Offering

Credit card has experienced a drastic change over decades, owing to the emergence of disruptive technologies. Credits card holders are facing frauds all across the globe and majority of the companies are trying to innovate advance analytical solutions to provide safe and easy transactions to its customers. For instance, in October 2020, Paytm a global provider of online payment application announced that it is coming up with credit cards to make it easier for new users to join the credit market. The new credit card will provide users a special feature that would allow users to manage their transactions and have full control over the card usage. 

Thus, growth in number of such developments across the globe is providing lucrative opportunity for the growth of the market. Furthermore, card issuers are investing in NFC technology, which allows credit card companies to offer contactless payment at one tap. It is an effective tool against online banking fraud as it uses tokenization, which completes the transaction without sharing the merchant’s actual credit card information, which is anticipated to provide lucrative opportunity for the credit card payments market. 

Credit Card Payments Market
By Region

2028
North America 
Europe
Asia-pacific
Lamea

Europe would exhibit the highest CAGR of 10.9% during 2021-2028

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Key Benefits For Stakeholders

  •  The study provides an in-depth analysis of the global credit card payments market forecast along with the current trends and future estimations to explain the imminent investment pockets.
  •  Information about key drivers, restraints, & opportunities and their impact analysis on the global credit card payments market trends is provided in the report.
  •  Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  •  The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.

Key Market Segments

By Card Type 

  •  General Purpose Credit Cards 
  •  Specialty & Other Credit Cards

By Application

  •  Food & Groceries
  •  Health & Pharmacy
  •  Restaurants & Bars
  •  Consumer Electronics
  •  Media & Entertainment
  •  Travel & Tourism
  • Others 

By Provider

  •  Visa
  •  Mastercard
  •  Others 

By Region

  •  North America
    •  U.S.
    •  Canada
  •  Europe 
    •  UK
    •  Germany 
    •  France
    •  Italy
    •  Netherlands
    •  Rest of Europe
  •  Asia-Pacific 
    •  China
    •  Japan
    •  India
    •  Australia
    •  Singapore
    •  South Korea
    •  Rest of Asia-Pacific
  •  LAMEA
    •  Latin America 
    •  Middle East 
    •  Africa

Key Players

  •  American Express
  •  Bank of America Corporation
  •  Barclays PLC
  •  Capital One
  •  Citigroup Inc.
  •  JPMorgan Chase & Co
  •  MasterCard
  •  Synchrony
  •  The PNC Financial Services Group, Inc. 
  •  USAA
 

CHAPTER 1: INTRODUCTION

 1.1. REPORT DESCRIPTION
 1.2. KEY MARKET SEGMENTS
 1.3. KEY BENEFITS
 1.4. RESEARCH METHODOLOGY

 1.4.1. Primary research
 1.4.2. Secondary research
 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

 2.1. CXO PERSPECTIVE

CHAPTER 3: MARKET LANDSCAPE

 3.1. MARKET DEFINITION AND SCOPE
 3.2. KEY FINDINGS

 3.2.1. Top investment pockets
 3.2.2. Top winning strategies

 3.3. PORTER'S FIVE FORCES ANALYSIS

 3.3.1. Bargaining power of suppliers
 3.3.2. Threat of new entrants
 3.3.3. Threat of substitutes
 3.3.4. Competitive rivalry
 3.3.5. Bargaining power among buyers

 3.4. MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2020
 3.5. MARKET DYNAMICS

 3.5.1. Drivers
 3.5.2. Restraints
 3.5.3. Opportunities

CHAPTER 4: CREDIT CARD PAYMENTS MARKET BY CARD TYPE

 4.1. OVERVIEW
 4.2. GENERAL PURPOSE CREDIT CARDS

 4.2.1. Key market trends, growth factors and opportunities
 4.2.2. Market size and forecast, by region 
 4.2.3. Market share analysis, by country

 4.3. SPECIALTY AND OTHER CREDIT CARDS

 4.3.1. Key market trends, growth factors and opportunities
 4.3.2. Market size and forecast, by region 
 4.3.3. Market share analysis, by country

CHAPTER 5: CREDIT CARD PAYMENTS MARKET BY APPLICATION

 5.1. OVERVIEW
 5.2. FOOD AND GROCERIES

 5.2.1. Key market trends, growth factors and opportunities
 5.2.2. Market size and forecast, by region 
 5.2.3. Market share analysis, by country

 5.3. HEALTH AND PHARMACY

 5.3.1. Key market trends, growth factors and opportunities
 5.3.2. Market size and forecast, by region 
 5.3.3. Market share analysis, by country

 5.4. RESTAURANTS AND BARS

 5.4.1. Key market trends, growth factors and opportunities
 5.4.2. Market size and forecast, by region 
 5.4.3. Market share analysis, by country

 5.5. CONSUMER ELECTRONICS

 5.5.1. Key market trends, growth factors and opportunities
 5.5.2. Market size and forecast, by region 
 5.5.3. Market share analysis, by country

 5.6. MEDIA AND ENTERTAINMENT

 5.6.1. Key market trends, growth factors and opportunities
 5.6.2. Market size and forecast, by region 
 5.6.3. Market share analysis, by country

 5.7. TRAVEL AND TOURISM

 5.7.1. Key market trends, growth factors and opportunities
 5.7.2. Market size and forecast, by region 
 5.7.3. Market share analysis, by country

 5.8. OTHERS

 5.8.1. Key market trends, growth factors and opportunities
 5.8.2. Market size and forecast, by region 
 5.8.3. Market share analysis, by country

CHAPTER 6: CREDIT CARD PAYMENTS MARKET BY PROVIDERS

 6.1. OVERVIEW
 6.2. VISA

 6.2.1. Key market trends, growth factors and opportunities
 6.2.2. Market size and forecast, by region 
 6.2.3. Market share analysis, by country

 6.3. MASTERCARD

 6.3.1. Key market trends, growth factors and opportunities
 6.3.2. Market size and forecast, by region 
 6.3.3. Market share analysis, by country

 6.4. OTHERS

 6.4.1. Key market trends, growth factors and opportunities
 6.4.2. Market size and forecast, by region 
 6.4.3. Market share analysis, by country

CHAPTER 7: CREDIT CARD PAYMENTS MARKET BY REGION

 7.1. OVERVIEW
 7.2. NORTH AMERICA

 7.2.1. Key market trends and opportunities
 7.2.2. Market size and forecast, by card type
 7.2.3. Market size and forecast, by application
 7.2.4. Market size and forecast, by providers
 7.2.5. Market size and forecast, by Country
 7.2.6. US

 7.2.6.1. Market size and forecast, by card type
 7.2.6.2. Market size and forecast, by application
 7.2.6.3. Market size and forecast, by providers

 7.2.7. Canada

 7.2.7.1. Market size and forecast, by card type
 7.2.7.2. Market size and forecast, by application
 7.2.7.3. Market size and forecast, by providers

 7.3. EUROPE

 7.3.1. Key market trends and opportunities
 7.3.2. Market size and forecast, by card type
 7.3.3. Market size and forecast, by application
 7.3.4. Market size and forecast, by providers
 7.3.5. Market size and forecast, by Country

7.3.6. UK

 7.3.6.1. Market size and forecast, by card type
 7.3.6.2. Market size and forecast, by application
 7.3.6.3. Market size and forecast, by providers

 7.3.7. Germany

 7.3.7.1. Market size and forecast, by card type
 7.3.7.2. Market size and forecast, by application
 7.3.7.3. Market size and forecast, by providers

 7.3.8. France

 7.3.8.1. Market size and forecast, by card type
 7.3.8.2. Market size and forecast, by application
 7.3.8.3. Market size and forecast, by providers

 7.3.9. Italy

 7.3.9.1. Market size and forecast, by card type
 7.3.9.2. Market size and forecast, by application
 7.3.9.3. Market size and forecast, by providers

 7.3.10. Netherlands

 7.3.10.1. Market size and forecast, by card type
 7.3.10.2. Market size and forecast, by application
 7.3.10.3. Market size and forecast, by providers

 7.3.11. Rest of Europe

 7.3.11.1. Market size and forecast, by card type
 7.3.11.2. Market size and forecast, by application
 7.3.11.3. Market size and forecast, by providers

 7.4. ASIA PACIFIC

 7.4.1. Key market trends and opportunities
 7.4.2. Market size and forecast, by card type
 7.4.3. Market size and forecast, by application
 7.4.4. Market size and forecast, by providers
 7.4.5. Market size and forecast, by Country

 7.4.6. China

 7.4.6.1. Market size and forecast, by card type
 7.4.6.2. Market size and forecast, by application
 7.4.6.3. Market size and forecast, by providers

 7.4.7. Japan

 7.4.7.1. Market size and forecast, by card type
 7.4.7.2. Market size and forecast, by application
 7.4.7.3. Market size and forecast, by providers

 7.4.8. India

 7.4.8.1. Market size and forecast, by card type
 7.4.8.2. Market size and forecast, by application
 7.4.8.3. Market size and forecast, by providers

 7.4.9. Australia

 7.4.9.1. Market size and forecast, by card type
 7.4.9.2. Market size and forecast, by application
 7.4.9.3. Market size and forecast, by providers

 7.4.10. Singapore

 7.4.10.1. Market size and forecast, by card type
 7.4.10.2. Market size and forecast, by application
 7.4.10.3. Market size and forecast, by providers

 7.4.11. South Korea

 7.4.11.1. Market size and forecast, by card type
 7.4.11.2. Market size and forecast, by application
 7.4.11.3. Market size and forecast, by providers

 7.4.12. Rest of Asia Pacific

 7.4.12.1. Market size and forecast, by card type
 7.4.12.2. Market size and forecast, by application
 7.4.12.3. Market size and forecast, by providers

 7.5. LAMEA

 7.5.1. Key market trends and opportunities
 7.5.2. Market size and forecast, by card type
 7.5.3. Market size and forecast, by application
 7.5.4. Market size and forecast, by providers
 7.5.5. Market size and forecast, by Country
 7.5.6. Latin America

 7.5.6.1. Market size and forecast, by card type
 7.5.6.2. Market size and forecast, by application
 7.5.6.3. Market size and forecast, by providers

 7.5.7. Middle East

 7.5.7.1. Market size and forecast, by card type
 7.5.7.2. Market size and forecast, by application
 7.5.7.3. Market size and forecast, by providers

 7.5.8. Africa

 7.5.8.1. Market size and forecast, by card type
 7.5.8.2. Market size and forecast, by application
 7.5.8.3. Market size and forecast, by providers

CHAPTER 8: COMPANY PROFILES

 8.1. AMERICAN EXPRESS

 8.1.1. Company overview
 8.1.2. Key Executives
 8.1.3. Company snapshot
 8.1.4. Operating business segments
 8.1.5. Product portfolio
 8.1.6. Business performance
 8.1.7. Key strategic moves and developments

 8.2. BANK OF AMERICA

 8.2.1. Company overview
 8.2.2. Key Executives
 8.2.3. Company snapshot
 8.2.4. Operating business segments
 8.2.5. Product portfolio
 8.2.6. Business performance
 8.2.7. Key strategic moves and developments

 8.3. BARCLAYS, PLC

 8.3.1. Company overview
 8.3.2. Key Executives
 8.3.3. Company snapshot
 8.3.4. Operating business segments
 8.3.5. Product portfolio
 8.3.6. Business performance
 8.3.7. Key strategic moves and developments

 8.4. CAPITAL ONE

 8.4.1. Company overview
 8.4.2. Key Executives
 8.4.3. Company snapshot
 8.4.4. Operating business segments
 8.4.5. Product portfolio
 8.4.6. Business performance
 8.4.7. Key strategic moves and developments

 8.5. CITIGROUP, INC

 8.5.1. Company overview
 8.5.2. Key Executives
 8.5.3. Company snapshot
 8.5.4. Operating business segments
 8.5.5. Product portfolio
 8.5.6. Business performance
 8.5.7. Key strategic moves and developments

 8.6. JPMORGAN CHASE AND CO

 8.6.1. Company overview
 8.6.2. Key Executives
 8.6.3. Company snapshot
 8.6.4. Operating business segments
 8.6.5. Product portfolio
 8.6.6. Business performance
 8.6.7. Key strategic moves and developments

 8.7. MASTERCARD

 8.7.1. Company overview
 8.7.2. Key Executives
 8.7.3. Company snapshot
 8.7.4. Operating business segments
 8.7.5. Product portfolio
 8.7.6. Business performance
 8.7.7. Key strategic moves and developments

 8.8. SYNCHRONY

 8.8.1. Company overview
 8.8.2. Key Executives
 8.8.3. Company snapshot
 8.8.4. Operating business segments
 8.8.5. Product portfolio
 8.8.6. Business performance
 8.8.7. Key strategic moves and developments

 8.9. THE PNC FINANCIAL SERVICES GROUP, INC

 8.9.1. Company overview
 8.9.2. Key Executives
 8.9.3. Company snapshot
 8.9.4. Operating business segments
 8.9.5. Product portfolio
 8.9.6. Business performance
 8.9.7. Key strategic moves and developments

 8.10. USAA

 8.10.1. Company overview
 8.10.2. Key Executives
 8.10.3. Company snapshot
 8.10.4. Operating business segments
 8.10.5. Product portfolio
 8.10.6. Business performance
 8.10.7. Key strategic moves and developments

Note:
o *Details on financial performance and strategic moves and developments may not be captured for unlisted companies.
o *List of companies profiled in this TOC is tentative and may change after detailed analysis.
o *Market size and forecast will be provided from 2020-2028, and forecast period would be 2021-2028.

LIST OF TABLES

TABLE 1. GLOBAL CREDIT CARD PAYMENTS MARKET, BY CARD TYPE 2020-2028 ($MILLION)
TABLE 2. CREDIT CARD PAYMENTS MARKET FOR GENERAL PURPOSE CREDIT CARDS, BY REGION, 2020-2028 ($MILLION)
TABLE 3. CREDIT CARD PAYMENTS MARKET FOR SPECIALTY AND OTHER CREDIT CARDS, BY REGION, 2020-2028 ($MILLION)
TABLE 4. GLOBAL CREDIT CARD PAYMENTS MARKET, BY APPLICATION 2020-2028 ($MILLION)
TABLE 5. CREDIT CARD PAYMENTS MARKET FOR FOOD AND GROCERIES, BY REGION, 2020-2028 ($MILLION)
TABLE 6. CREDIT CARD PAYMENTS MARKET FOR HEALTH AND PHARMACY, BY REGION, 2020-2028 ($MILLION)
TABLE 7. CREDIT CARD PAYMENTS MARKET FOR RESTAURANTS AND BARS, BY REGION, 2020-2028 ($MILLION)
TABLE 8. CREDIT CARD PAYMENTS MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2020-2028 ($MILLION)
TABLE 9. CREDIT CARD PAYMENTS MARKET FOR MEDIA AND ENTERTAINMENT, BY REGION, 2020-2028 ($MILLION)
TABLE 10. CREDIT CARD PAYMENTS MARKET FOR TRAVEL AND TOURISM, BY REGION, 2020-2028 ($MILLION)
TABLE 11. CREDIT CARD PAYMENTS MARKET FOR OTHERS, BY REGION, 2020-2028 ($MILLION)
TABLE 12. GLOBAL CREDIT CARD PAYMENTS MARKET, BY PROVIDERS 2020-2028 ($MILLION)
TABLE 13. CREDIT CARD PAYMENTS MARKET FOR VISA, BY REGION, 2020-2028 ($MILLION)
TABLE 14. CREDIT CARD PAYMENTS MARKET FOR MASTERCARD, BY REGION, 2020-2028 ($MILLION)
TABLE 15. CREDIT CARD PAYMENTS MARKET FOR OTHERS, BY REGION, 2020-2028 ($MILLION)
TABLE 16. CREDIT CARD PAYMENTS MARKET FOR , BY REGION, , 2020-2028 ($MILLION)
TABLE 17. NORTH AMERICA CREDIT CARD PAYMENTS, BY CARD TYPE 2020-2028 ($MILLION)
TABLE 18. NORTH AMERICA CREDIT CARD PAYMENTS, BY APPLICATION 2020-2028 ($MILLION)
TABLE 19. NORTH AMERICA CREDIT CARD PAYMENTS, BY PROVIDERS 2020-2028 ($MILLION)
TABLE 20. NORTH AMERICA CREDIT CARD PAYMENTS, BY REGION, 2020-2028 ($MILLION)
TABLE 21. EUROPE CREDIT CARD PAYMENTS, BY CARD TYPE 2020-2028 ($MILLION)
TABLE 22. EUROPE CREDIT CARD PAYMENTS, BY APPLICATION 2020-2028 ($MILLION)
TABLE 23. EUROPE CREDIT CARD PAYMENTS, BY PROVIDERS 2020-2028 ($MILLION)
TABLE 24. EUROPE CREDIT CARD PAYMENTS, BY REGION, 2020-2028 ($MILLION)
TABLE 25. ASIA PACIFIC CREDIT CARD PAYMENTS, BY CARD TYPE 2020-2028 ($MILLION)
TABLE 26. ASIA PACIFIC CREDIT CARD PAYMENTS, BY APPLICATION 2020-2028 ($MILLION)
TABLE 27. ASIA PACIFIC CREDIT CARD PAYMENTS, BY PROVIDERS 2020-2028 ($MILLION)
TABLE 28. ASIA PACIFIC CREDIT CARD PAYMENTS, BY REGION, 2020-2028 ($MILLION)
TABLE 29. LAMEA CREDIT CARD PAYMENTS, BY CARD TYPE 2020-2028 ($MILLION)
TABLE 30. LAMEA CREDIT CARD PAYMENTS, BY APPLICATION 2020-2028 ($MILLION)
TABLE 31. LAMEA CREDIT CARD PAYMENTS, BY PROVIDERS 2020-2028 ($MILLION)
TABLE 32. LAMEA CREDIT CARD PAYMENTS, BY REGION, 2020-2028 ($MILLION)
TABLE 33. AMERICAN EXPRESS: COMPANY SNAPSHOT
TABLE 34. AMERICAN EXPRESS: OPERATING SEGMENTS
TABLE 35. BANK OF AMERICA: COMPANY SNAPSHOT
TABLE 36. BANK OF AMERICA: OPERATING SEGMENTS
TABLE 37. BARCLAYS, PLC: COMPANY SNAPSHOT
TABLE 38. BARCLAYS, PLC: OPERATING SEGMENTS
TABLE 39. CAPITAL ONE: COMPANY SNAPSHOT
TABLE 40. CAPITAL ONE: OPERATING SEGMENTS
TABLE 41. CITIGROUP, INC: COMPANY SNAPSHOT
TABLE 42. CITIGROUP, INC: OPERATING SEGMENTS
TABLE 43. JPMORGAN CHASE AND CO: COMPANY SNAPSHOT
TABLE 44. JPMORGAN CHASE AND CO: OPERATING SEGMENTS
TABLE 45. MASTERCARD: COMPANY SNAPSHOT
TABLE 46. MASTERCARD: OPERATING SEGMENTS
TABLE 47. SYNCHRONY: COMPANY SNAPSHOT
TABLE 48. SYNCHRONY: OPERATING SEGMENTS
TABLE 49. THE PNC FINANCIAL SERVICES GROUP, INC: COMPANY SNAPSHOT
TABLE 50. THE PNC FINANCIAL SERVICES GROUP, INC: OPERATING SEGMENTS
TABLE 51. USAA: COMPANY SNAPSHOT
TABLE 52. USAA: OPERATING SEGMENTS

LIST OF FIGURES

FIGURE 1. GLOBAL CREDIT CARD PAYMENTS MARKET SEGMENTATION
FIGURE 2. TOP INVESTMENT POCKET
FIGURE 3. TOP WINNING STRATEGIES (%)
FIGURE 4. CREDIT CARD PAYMENTS MARKET FOR GENERAL PURPOSE CREDIT CARDS, 2020-2028 ($MILLION)
FIGURE 5. CREDIT CARD PAYMENTS MARKET FOR SPECIALTY AND OTHER CREDIT CARDS, 2020-2028 ($MILLION)
FIGURE 6. CREDIT CARD PAYMENTS MARKET FOR FOOD AND GROCERIES, 2020-2028 ($MILLION)
FIGURE 7. CREDIT CARD PAYMENTS MARKET FOR HEALTH AND PHARMACY, 2020-2028 ($MILLION)
FIGURE 8. CREDIT CARD PAYMENTS MARKET FOR RESTAURANTS AND BARS, 2020-2028 ($MILLION)
FIGURE 9. CREDIT CARD PAYMENTS MARKET FOR CONSUMER ELECTRONICS, 2020-2028 ($MILLION)
FIGURE 10. CREDIT CARD PAYMENTS MARKET FOR MEDIA AND ENTERTAINMENT, 2020-2028 ($MILLION)
FIGURE 11. CREDIT CARD PAYMENTS MARKET FOR TRAVEL AND TOURISM, 2020-2028 ($MILLION)
FIGURE 12. CREDIT CARD PAYMENTS MARKET FOR OTHERS, 2020-2028 ($MILLION)
FIGURE 13. CREDIT CARD PAYMENTS MARKET FOR VISA, 2020-2028 ($MILLION)
FIGURE 14. CREDIT CARD PAYMENTS MARKET FOR MASTERCARD, 2020-2028 ($MILLION)
FIGURE 15. CREDIT CARD PAYMENTS MARKET FOR OTHERS, 2020-2028 ($MILLION)
FIGURE 16. GLOBAL CREDIT CARD PAYMENTS, BY REGION, 2020 (%)
FIGURE 17. US CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 18. CANADA CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 19. UK CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 20. GERMANY CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 21. FRANCE CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 22. ITALY CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 23. NETHERLANDS CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 24. REST OF EUROPE CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 25. CHINA CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 26. JAPAN CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 27. INDIA CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 28. AUSTRALIA CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 29. SINGAPORE CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 30. SOUTH KOREA CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 31. REST OF ASIA PACIFIC CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 32. LATIN AMERICA CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 33. MIDDLE EAST CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION)
FIGURE 34. AFRICA CREDIT CARD PAYMENTS MARKET, 2020-2028 ($MILLION) 

 
 

Adoption of credit cards has increased over the years, owing to its various advantages such as enhanced security as compared with debit card, faster payment processing options, EMI facility, and others. In addition, rapid adoption of credit card among the end users for buying things on EMIs and increase in purchasing of different expensive goods is enhancing the growth of the market. Furthermore, it provides extended warranties and purchase protection for the end users, which also propels the growth of the market. In addition, many cards offer return protection, rental car insurance, and travel insurance, which drives the growth of the credit card payments market. Moreover, surge in adoption of NFC payment and eWallets across the globe is expected to drive growth of the market.

Key providers of credit card market such as American Express, Chase, Citi, and Bank of America account for a significant share in the market. For instance, in April, 2021, American Express launched Cashback Credit Card. The new card provides card members the opportunity to earn uncapped cashback on every purchase, including when paying bills. According to the industry experts, the credit card market is expected to witness increased adoption in the coming years, owing to various benefits provided by the credit card companies and integration of advance technology among the credit cards, which include artificial intelligence (AI) and machine learning for providing enhanced security to the end users. North America is expected to dominate the market during the forecast period, while emerging countries in Europe and Asia-Pacific are projected to offer significant growth opportunities.

 

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A. The Credit Card Payments Market is estimated to grow at a CAGR of 8.5% from 2021 to 2028.

A. The Credit Card Payments Market is projected to reach $263.47 billion by 2028.

A. To get the latest version of sample report

A. Factors such as rvarious organizations are providing special credit cards to their employees for keeping tracks on employee spending on travel, purchases of inventory or supplies, and other responsibilities drives the growth of the Credit Card Payments market

A. The key players profiled in the report include American Express, Bank of America Corporation, Barclays PLC, Capital One, Citigroup Inc., JPMorgan Chase & Co, MasterCard, Synchrony, The PNC Financial Services Group, Inc., USAA, and many more.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Credit Card Payments Market is segmented on the basis of card type, application, provider, and region.

A. The key growth strategies of Credit Card Payments market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

A. General Purpose Credit Cards Segment holds a dominant position throughout the forecast period.

A. Travel & Tourism segment will grow at a highest CAGR of 15.5% during 2021 - 2028

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