Credit Card Payments Market size to grow by USD 147.16 billion from 2021 to 2026, The market is fragmented due to the presence of prominent companies like American Express Co., Capital One Financial Corp. and Bank of America Corp., and many more – Technavio

NEW YORK, Nov. 29, 2023 /PRNewswire/ — The credit card payments market is estimated to grow by USD 147.16 billion from 2021 to 2026, growing at a CAGR of 7.66%. The credit card payments market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer credit card payments market are 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. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying

Company Offering:

American Express Co. – The company offers a wide range of credit cards such as the American Express Membership Rewards Credit Card and SmartEarn Credit Card.Bank of America Corp. – The company offers small business credit cards such as Business Advantage Customized Cash Rewards credit card and Business Advantage Travel Rewards credit card.Capital One Financial Corp. – The company offers credit cards such as Barclaycard Avios Plus and Barclaycard Rewards card.For details on companies and their offerings – Buy the report!

By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa.

North America is projected to contribute 44% of the credit card payments market’s growth during the forecast period.  The major markets for credit card payments in this region are the United States and Canada. In facilitating the growth of the market for credit card payments, an increasing number of smartphones will have a major impact.

Download a sample report to get more insights on the market share of various regions and the contribution of the segments.

Impactful driver- Rising number of online transactionsKey Trend – Rise in mobile biometrics for paymentMajor Challenges – lack of awareness and adoption of online payment methods in developing economies

 Market Segmentation

By End-user, the market is classified into consumer or individual and commercial. The forecast period is expected to witness significant growth in the consumer or individual segment of the credit card payments market. Individuals with poor credit scores are less likely to receive increased lending or financial assistance from banks or loan companies. For this reason, it is important for consumers to be well-protected and appropriately managed around credit access.

Technavio Research experts have provided more insights on the market share of segments – View Sample Report

Related Reports:

The payment processing solutions market size is estimated to grow at a CAGR of 12.18% between 2022 and 2027. The market size is forecast to increase by USD 63.48 billion.

The biometrics-as-a-service (BaaS) market is estimated to grow at a CAGR of 15.93% between 2022 and 2027. The size of the market is forecast to increase by USD 2,353.46 million.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About US

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SOURCE Technavio