Credit Card Payments Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Sep 2022

Pages: 122

SKU: IRTNTR74458

Snapshot

Credit Card Payments Market Size & Forecast

The credit card payments market share is expected to increase by USD 147.16 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.66%.

The credit card payments market research report offers valuable insights into the post-COVID-19 impact on the market, enabling companies to assess and adjust their business strategies accordingly. Additionally, the report provides comprehensive coverage of the credit card payments market segmentation based on end-users (consumer or individual and commercial) and geography (North America, APAC, Europe, South America, and the Middle East and Africa).This detailed segmentation allows for a deeper understanding of the market dynamics within each segment and region, aiding businesses in making informed decisions and identifying growth opportunities.

What will the Credit Card Payments Market Size be During the Forecast Period?

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Credit Card Payments Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the credit card payments market. During the COVID-19 pandemic, the credit card payments market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.

Key Credit Card Payments Market Driver

The growth of the credit card payments market is being driven by the increasing number of online transactions. Industries like financial and e-commerce are facing significant challenges due to advanced threats targeting devices, people, and networks. The ever-changing IT infrastructure has given rise to sophisticated methods of data theft. Additionally, the emergence of mobile payment and banking platforms has made it easier for criminals and hackers to exploit vulnerable users and extract sensitive information. In response to these risks, many market vendors are offering mobile payment security software to enhance online transaction security and prevent fraudulent activities. As a result, the global credit card payments market is expected to experience positive growth throughout the forecast period.

Key Credit Card Payments Market Trend

One of the prominent trends driving the growth of the credit card payments market is the surge in mobile biometrics for payments. In the present market landscape, the use of mobile devices for financial and e-commerce transactions has witnessed a substantial increase. Consequently, this upward trend has spurred the rapid advancement of biometric technologies, including fingerprint recognition, voice recognition, and others. These biometric technologies are now being seamlessly integrated into mobile devices, ensuring that only authorized individuals can access personal data. Moreover, mobile devices are increasingly adopting multimodal biometrics for individual identification and verification purposes. These cutting-edge technologies are playing a crucial role in enhancing the security and safety of mobile payments in the retail sector.

Key Credit Card Payments Market Challenge

The growth of the credit card payments market is hindered by the lack of awareness and adoption of online payment methods in developing economies. Many countries in these regions face challenges due to inadequate telecom infrastructure to support mobile payments. LTE technology, which plays a crucial role in providing error-free and uninterrupted telecom services, is still in its early stages of development in several Asian countries, leading to limited adoption. This limited availability of mobile payment transactions acts as a barrier to the penetration of the credit card payments market in these countries. Moreover, numerous rural and remote areas in the Asia-Pacific region still lack adequate 2G and 3G network connections, and overall telecom infrastructure in developing countries is insufficient. This lack of infrastructure negatively impacts the market's growth prospects during the forecast period.

This analysis report on the credit card payments market also presents comprehensive information on upcoming trends and challenges that will significantly influence market growth. The insights provided regarding these trends and challenges will assist companies in assessing and formulating growth strategies for the period of 2022-2026.

Who are the Major Credit Card Payments Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the credit card payments market encompasses successful business strategies deployed by key vendors. The credit card payments market is fragmented, and the vendors are deploying growth strategies such as technological innovations and partnerships to compete in the market.

Product Insights and News

usaa.com - The company offers business credit cards such as PNC Cash Rewards Visa Signature Business credit card and PNC points Visa Business credit card.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The credit card payments market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Credit Card Payments Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the credit card payments market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Credit Card Payments Market?

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North America is projected to contribute 44% of the credit card payments market's growth during the forecast period. The United States and Canada serve as the primary markets for credit card payments in this region. However, market growth in North America is anticipated to be slower compared to Europe and South America.

The increasing number of smartphone users will play a significant role in facilitating the growth of the credit card payments market in North America throughout the forecast period. This market research report provides comprehensive information on competitive intelligence, identifies marketing gaps, and highlights regional opportunities available for vendors. These insights will aid in the development of efficient business plans.

COVID-19 had a varied impact on the regional market in 2020. However, with the lifting of lockdowns and the initiation of vaccination drives, a positive impact on market growth is expected during the forecast period. These factors are anticipated to drive market growth in the region during the forecast period.

What are the Revenue-generating End-user Segments in the Credit Card Payments Market?

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The forecast period is expected to witness significant growth in the consumer or individual segment of the credit card payments market. Individuals with a poor credit score are less likely to receive increased lending or financial assistance from banks or loan companies. Therefore, safeguarding and managing credit access wisely becomes crucial for consumers. Personal credit cards are specifically designed for individuals to facilitate their daily spending activities, such as purchasing household items and groceries. These factors will have a positive impact on driving the growth of the consumer or individual segment within the global credit card payments market throughout the forecast period.

This report accurately predicts the contribution of each segment to the overall growth of the credit card payments market size and offers actionable market insights regarding the post-COVID-19 impact on each segment.

Credit Card Payments Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.66%
Market growth 2022-2026	USD 147.16 billion
Market structure	Fragmented
YoY growth (%)	7.36
Regional analysis	North America, APAC, Europe, South America, and the Middle East and Africa
Performing market contribution	North America at 44%
Key consumer countries	US, Canada, China, India, and UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	American Express Co., Bajaj Finserv Ltd., Bank of America Corp., Bank of Montreal, Capital One Financial Corp., Citigroup Inc., Credicard SA, Credit One Bank N.A., HDFC Bank Ltd., JCB Co. Ltd., JPMorgan Chase and Co., Malayan Banking Berhad, Mastercard Inc., Royal Bank of Canada, Standard Chartered PLC, SYNCHRONY FINANCIAL, The PNC Financial Services Group Inc., USAA, Visa Inc., and Barclays Bank Plc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Credit Card Payments Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive credit card payments market growth during the next five years
Precise estimation of the credit card payments market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the credit card payments industry across North America, APAC, Europe, South America, and the Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of credit card payments market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user

5.3 Consumer or Individual - Market size and forecast 2021-2026
- Exhibit 28: Chart on Consumer or Individual - Market size and forecast 2021-2026 ($ billion)
- Exhibit 29: Data Table on Consumer or Individual - Market size and forecast 2021-2026 ($ billion)
- Exhibit 30: Chart on Consumer or Individual - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Consumer or Individual - Year-over-year growth 2021-2026 (%)

5.4 Commercial - Market size and forecast 2021-2026
- Exhibit 32: Chart on Commercial - Market size and forecast 2021-2026 ($ billion)
- Exhibit 33: Data Table on Commercial - Market size and forecast 2021-2026 ($ billion)
- Exhibit 34: Chart on Commercial - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Commercial - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by End-user
- Exhibit 36: Market opportunity by End-user ($ billion)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026
- Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 APAC - Market size and forecast 2021-2026
- Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ billion)
- Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ billion)
- Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 UK - Market size and forecast 2021-2026
- Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ billion)
- Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
- Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.11 Canada - Market size and forecast 2021-2026
- Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
- Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
- Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.12 India - Market size and forecast 2021-2026
- Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ billion)
- Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ billion)
- Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption

9.4 Industry risks
- Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 87: Vendors covered

10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification

10.3 American Express Co.
- Exhibit 89: American Express Co. - Overview
- Exhibit 90: American Express Co. - Business segments
- Exhibit 91: American Express Co. - Key offerings
- Exhibit 92: American Express Co. - Segment focus

10.4 Bank of America Corp.
- Exhibit 93: Bank of America Corp. - Overview
- Exhibit 94: Bank of America Corp. - Business segments
- Exhibit 95: Bank of America Corp. - Key news
- Exhibit 96: Bank of America Corp. - Key offerings
- Exhibit 97: Bank of America Corp. - Segment focus

10.5 Barclays Bank Plc
- Exhibit 98: Barclays Bank Plc - Overview
- Exhibit 99: Barclays Bank Plc - Business segments
- Exhibit 100: Barclays Bank Plc - Key offerings
- Exhibit 101: Barclays Bank Plc - Segment focus

10.6 Capital One Financial Corp.
- Exhibit 102: Capital One Financial Corp. - Overview
- Exhibit 103: Capital One Financial Corp. - Business segments
- Exhibit 104: Capital One Financial Corp. - Key news
- Exhibit 105: Capital One Financial Corp. - Key offerings
- Exhibit 106: Capital One Financial Corp. - Segment focus

10.7 Citigroup Inc.
- Exhibit 107: Citigroup Inc. - Overview
- Exhibit 108: Citigroup Inc. - Business segments
- Exhibit 109: Citigroup Inc. - Key offerings
- Exhibit 110: Citigroup Inc. - Segment focus

10.8 JPMorgan Chase and Co.
- Exhibit 111: JPMorgan Chase and Co. - Overview
- Exhibit 112: JPMorgan Chase and Co. - Business segments
- Exhibit 113: JPMorgan Chase and Co. - Key offerings
- Exhibit 114: JPMorgan Chase and Co. - Segment focus

10.9 Mastercard Inc.
- Exhibit 115: Mastercard Inc. - Overview
- Exhibit 116: Mastercard Inc. - Product / Service
- Exhibit 117: Mastercard Inc. - Key offerings

10.10 SYNCHRONY FINANCIAL
- Exhibit 118: SYNCHRONY FINANCIAL - Overview
- Exhibit 119: SYNCHRONY FINANCIAL - Product / Service
- Exhibit 120: SYNCHRONY FINANCIAL - Key offerings

10.11 The PNC Financial Services Group Inc.
- Exhibit 121: The PNC Financial Services Group Inc. - Overview
- Exhibit 122: The PNC Financial Services Group Inc. - Business segments
- Exhibit 123: The PNC Financial Services Group Inc. - Key offerings
- Exhibit 124: The PNC Financial Services Group Inc. - Segment focus

10.12 USAA
- Exhibit 125: USAA - Overview
- Exhibit 126: USAA - Product / Service
- Exhibit 127: USAA - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources

11.5 List of abbreviations
- Exhibit 134: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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