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Card & Payments Market Size, Analysis, Share & Forecast 2030
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Card & Payments Market Size, Analysis, Share & Forecast 2030

Segments - Card & Payments Market by Types (Cards [Credit Card, Debit Card, and Prepaid Card] and Payments [Credit Transfer, Direct Debit, Check, and Cash]), Institution Type (Non-banking Institutions, Banking Institutions), Applications (Consumer Electronics, Health & Pharmacy, Food & Groceries, Restaurants & Bars, Media & Entertainment, Travel & Tourism, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecasts, 2022-2030

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Author : Swarup Sahu
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Fact-checked by : V. Chandola
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Editor : Ranjit Pankhade

Upcoming | Report ID :BFSI-4403 | 4.4 Rating | 74 Reviews | 212 Pages | Format : PDF Excel PPT

Report Description


The cards & payments market was valued at USD 729.9 billion in 2021 and is expected to reach USD XX billion by 2030, expanding at a CAGR of XX% from 2022 to 2030. Rising use of credit cards due to their buy now pay later option is fueling the market.

global cards & payments market summary

A credit or debit card is a plastic card with a microchip and a magnet strip provided by a financial services organization or bank that enables the cardholder to borrow or fund a purchase products and services from a variety of retailers. Credit cards are issued by banks and other fintech businesses enable customers to make purchases on credit rather than paying cash. The costs accumulate as a debt, which is repaid on a monthly billing cycle, allowing the consumer more time to come up with the funds. This huge increase in the use of real-time payments in the country can be linked to the rising acceptance of mobile wallets. E-commerce service providers are attempting to improve their competitiveness by shifting away from traditional credit card and consumer finance solutions and toward customer engagement solutions that use digital payments.

  • The global cards & payments market is growing due to the increase in the demand for cash options and availability of inexpensive payments. Consumers have accessibility of marketplaces due to growing penetration of online businesses for a variety of items and services. This, in turn, is driving the use of cards & payments systems worldwide.
  • Use of biometric authentication, facial recognition, QR codes, fingerprint scanners, and iris recognition are improving accuracy and protection, thus boosting the market.
  • The use of cards to pay is rising, especially to purchase consumer goods such as TVs, computers, cellphones, vacation packages, and jewelry, E-commerce enterprises are also attempting to implement their point-of-sale systems to increase their digital payment options due to easy repayment options and low-cost equated monthly installments (EMIs), which in turn, is driving the market.
  • Growing demand for credit cards in developing countries is fueling the market. Problems such as rise in credit card theft globally are projected to restrain the market.
  • Expansion of the digital payment sector has hampered by a lack of global standards for cross-border payments and a lack of awareness among emerging economies. These factors are impeding the market.
  • Technological advancements in product offerings, such as the use of blockchain to improve security, are likely to create lucrative opportunities in the market.
  • Banking regulatory bodies across the globe are raising the limit on contactless payment cards, which in turn, is creating opportunities in the market.
  • Banks and financial institutions have integrated biometric authentication for payments, to increase security, while making payments. This, in turn, is projected to create opportunities in the market.

Scope of the report:

The report on the global cards & payments market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Cards & payments Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022–2030

Segmentation

Types (Cards [Credit Card, Debit Card, and Prepaid Card] and Payments [Credit Transfer, Direct Debit, Check, and Cash]), Institution Type (Non-banking Institutions, Banking Institutions), Applications (Consumer Electronics, Health & Pharmacy, Food & Groceries, Restaurants & Bars, Media & Entertainment, Travel & Tourism, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Banco Santander, PayPal, American Express, Visa, Industrial and Commercial Bank of China, MasterCard, Nippon Telegraph and Telephone Corp, China Construction Bank, and Intesa Sanpaolo

Cards & payments Market Segment Insights:

Credit card segment is projected to hold significant market share

In the terms of types, the card & payments market can be bifurcated into cards and payments. The cards segment can be categorized as credit card, debit card, and prepaid card. The payment segment can be fragmented into credit transfer, direct debit, check, and cash. The credit card segment held a considerable share of the market in 2020. Credit cards provide a variety of special benefits and privileges; therefore, the segment is projected to retain its dominance in the next years. Retailers are adopting payment processing solutions to give customers with flawless checkout experiences due to the rising popularity of online shopping throughout the world. Furthermore, The pandemic has increased the use of digital money transfers and purchases, thus reducing the need and use of cash and check, thus reducing the market share of cash and check segment.

global cards & payments market types

Non-banking segment held substantial market share in 2020

Based on institution types, the market can be fragmented into non-banking institutions, banking institutions. The non-banking segment constituted a significant share of the market in 2020 and is projected to expand at a rapid rate during the forecast period. Furthermore, many companies are offering company credit cards to their employees to keep track of company expenditure on travel and inventories, which in turn, is propelling the segment.

Health & pharmacy segment to grow during the forecast period

Based on applications, the market can be segregated into consumer electronics, health & pharmacy, food & groceries, restaurants & bars, media & entertainment, travel & tourism, and others. The health & pharmacy segment is expected to hold a significant share of the market during the forecast period. In response to the increased demand for digital remittance for cross-border and domestic transactions, banks are implementing digital payment systems. As a result of the pandemic, contactless and wallet payments have grown in popularity. Due to the currency lockdown and aversion, E-Wallets are becoming more popular for peer-to-peer (P2P) transfers, customer-to-business (C2B) payments, bill payments, and other essential services.

global cards & payments market applications

Asia Pacific to dominates the global market

In terms of regions, the cards & payments market can be fragmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific constituted a significant share of the market in 2022 and this position is likely to be maintained during the forecast period. This is due to several variables, including the region's economy's increasing use of credit cards. Additionally, people in Asia Pacific are reliant on credit cards, with nearly all adults (approximately 120 million individuals) having credit card debt in 2020, which in turn, is boosting the market in the region.

global cards & payments market regions

Segments

The global cards & payments market has been categorized on the basis of
Types

  • Cards
    • Credit Card
    • Debit Card
    • Prepaid Card
  • Payments
    • Credit Transfer
    • Direct Debit
    • Check
    • Cash

Institution Types

  • Non-banking Institutions
  • Banking Institutions

Applications

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

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Players

  • Amazon Payments
  • American Express
  • Apple Inc
  • Banco Santander
  • Bitpay
  • China Construction Bank
  • FIS
  • Flagship Merchant Services
  • GoCardless
  • Industrial and Commercial Bank of China
  • Intesa Sanpaolo
  • MasterCard
  • Nippon Telegraph and Telephone Corp
  • Payline Data
  • PayPal
  • Square, Inc.
  • Stripe
  • Visa

Competitive Landscape

Key players in the global cards & payments market include Amazon Payments, American Express, Apple Inc, Banco Santander, Bitpay, China Construction Bank, FIS, Flagship Merchant Services, GoCardless, Industrial and Commercial Bank of China, Intesa Sanpaolo, MasterCard, Nippon Telegraph and Telephone Corp, Payline Data, PayPal, Square, Inc., Stripe, and Visa.

global cards & payments market keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Card & Payments Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Card & Payments Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Card & Payments Market - Supply Chain
  4.5. Global Card & Payments Market Forecast
     4.5.1. Card & Payments Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Card & Payments Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Card & Payments Market Absolute $ Opportunity
5. Global Card & Payments Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Card & Payments Market Size and Volume Forecast by Types
     5.3.1. Cards
     5.3.2. Payments
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Card & Payments Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Card & Payments Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Card & Payments Demand Share Forecast, 2019-2026
7. North America Card & Payments Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Card & Payments Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Card & Payments Market Size and Volume Forecast by Types
     7.4.1. Cards
     7.4.2. Payments
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Card & Payments Demand Share Forecast, 2019-2026
8. Latin America Card & Payments Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Card & Payments Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Card & Payments Market Size and Volume Forecast by Types
     8.4.1. Cards
     8.4.2. Payments
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Card & Payments Demand Share Forecast, 2019-2026
9. Europe Card & Payments Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Card & Payments Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Card & Payments Market Size and Volume Forecast by Types
     9.4.1. Cards
     9.4.2. Payments
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Card & Payments Demand Share Forecast, 2019-2026
10. Asia Pacific Card & Payments Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Card & Payments Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Card & Payments Market Size and Volume Forecast by Types
     10.4.1. Cards
     10.4.2. Payments
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Card & Payments Demand Share Forecast, 2019-2026
11. Middle East & Africa Card & Payments Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Card & Payments Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Card & Payments Market Size and Volume Forecast by Types
     11.4.1. Cards
     11.4.2. Payments
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Card & Payments Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Card & Payments Market: Market Share Analysis
  12.2. Card & Payments Distributors and Customers
  12.3. Card & Payments Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Amazon Payments
     12.4.2. American Express
     12.4.3. Apple Inc
     12.4.4. Banco Santander
     12.4.5. Bitpay
     12.4.6. China Construction Bank
     12.4.7. FIS
     12.4.8. Flagship Merchant Services

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