DUBLIN–(BUSINESS WIRE)–The “Credit Card Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global credit card payment market reached a value of US$ 477.63 billion in 2021. Looking forward, the market is projected to reach a value of US$ 762.16 billion by 2027, exhibiting a CAGR of 7.80% during 2022-2027.
American Express Company
Bank of America Corporation
Capital One Financial Corporation (Signet Financial Corporation)
JPMorgan Chase & Co
The PNC Financial Services Group Inc.
United Services Automobile Association
Keeping in mind the uncertainties of COVID-19, the analyst is constantly tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
A credit card is a payment tool issued by financial institutions that offer a credit limit to cardholders for making purchases without the use of cash at the point of sale. It is a flexible mode of payment, which provides cardholders with more time to pay accrued charges to card issuers. It also helps increase the purchasing power of individuals, create a credit score for loans and mortgages, and provide cashback, miles points, and zero foreign transaction fees. Besides this, as it offers protection against fraudulent activities, the number of payments made via credit card is increasing across the globe.
The rising demand for cash alternatives for emergency and down payment funds represents one of the key factors driving the market. Moreover, there is an increase in the utilization of credit cards for purchasing televisions (TV), laptops, smartphones, travel packages, and jewelry. This, along with the availability of affordable credit cards worldwide, is propelling the market growth of credit card payments.
In addition, technological advancements in blockchain for higher security of the database are positively influencing the market. Besides this, several organizations are providing special credit cards to their employees for keeping records of travel, food, accommodation, and inventory, which is offering lucrative growth opportunities to end-users and market investors. Additionally, credit cards are highly used in food, grocery, healthcare, hospitality, electronics, media and entertainment, travel and tourism industries around the world. Furthermore, major players are extensively investing in research and development (R&D) activities to offer enhanced digital prepaid card services to customers, which are projected to bolster the growth of the market.
Key Questions Answered in This Report
How has the global credit card payment market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global credit card payment market?
What are the key regional markets?
What is the breakup of the market based on the card type?
What is the breakup of the market based on the provider?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global credit card payment market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Credit Card Payment Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Card Type
7 Market Breakup by Provider
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/s1sovo