Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) — The “Cards Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
The global cards market is expected to grow from $251.33 billion in 2021 to $275.5 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The market is expected to grow to $399.15 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.
The cards market consists of sales of cards services by entities (organizations, sole traders, and partnerships) that are engaged in storing, processing, and transmitting payment card data. This market covers issuing and acquiring banks, card processing, issuing companies, and others. Revenue generated from the cards market includes all processing and service fees levied by banks and financial institutions for processing card-based payments. It excludes interest charged by banks on payment cards.
The main types of cards are general-purpose and private labels. The general-purpose cards can be used as debit cards for retail purposes and are used for depositing online payments. The cards are used for general-purpose reloadable cards, government benefit/disbursement cards, payroll cards, and other usages. The cards are used by retail establishments, corporate institutions, government, financial institutions, and other end-users.
Asia Pacific was the largest region in the cards market in 2021. Western Europe was the second largest region in the cards market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The rising demand for credit cards is expected to fuel the growth of the cards market in the forecast period. The rise in demand for consumer credit products tends to be very apparent in an economic crisis. According to TransUnion CIBIL Limited, an India-based credit information company, credit card debts, and the number of accounts increased by 40.7% and 29.8% respectively with 44.5 million cards in circulation in 2019.
The increasing incidences of fraudulence are expected to hamper the growth of the cards market in the coming years. Fraud losses are sustained on all credit, debit, prepaid general-purpose, and private label payment cards distributed around the world by payment card issuers, retailers, purchasers of card purchases at retailers, and acquirers of card transactions at ATMs.
For instance, according to the Aite Group, a company that provides insurance services in 2020, 47% of Americans experienced financial theft and found that losses from these identity theft cases cost $502.5 billion in 2019 and increased 42 percent for almost $712.4 billion in 2020 was $721.3 billion in 2021. Therefore, the increasing incidences of fraud restraint the growth of the cards market.
1) By Type: General Purpose; Private Label
2) By Usage: General-purpose Re-loadable Card; Government Benefit/Disbursement Card; Payroll Card; Other Usage
3) By End User: Retail Establishments; Corporate Institutions; Government; Financial Institutions; Other End-Users
Key Topics Covered:
1. Executive Summary
2. Cards Market Characteristics
3. Cards Market Trends And Strategies
4. Impact Of COVID-19 On Cards
5. Cards Market Size And Growth
6. Cards Market Segmentation
7. Cards Market Regional And Country Analysis
8. Asia-Pacific Cards Market
9. China Cards Market
10. India Cards Market
11. Japan Cards Market
12. Australia Cards Market
13. Indonesia Cards Market
14. South Korea Cards Market
15. Western Europe Cards Market
16. UK Cards Market
17. Germany Cards Market
18. France Cards Market
19. Eastern Europe Cards Market
20. Russia Cards Market
21. North America Cards Market
22. USA Cards Market
23. South America Cards Market
24. Brazil Cards Market
25. Middle East Cards Market
26. Africa Cards Market
27. Cards Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Cards Market
29. Cards Market Future Outlook and Potential Analysis
- Mastercard Incorporated
- The American Express Company
- Visa Inc.
- JPMorgan Chase & Co.
- Kaiku Finance LLC
- Mango Financial Inc.
- Green Dot Corporation
- NetSpend Holdings
- PayPal Holdings
- BBVA Compass Bancshares
- HDFC Bank Ltd.
- SBI Cards and Payment Services Limited
- ICICI Bank Limited
- Axis Bank Limited
- Bank of Baroda
- Capital One Financial Corporation
- The Bank of America Corporation
- Wells Fargo
- Discover Bank
- Total System Services Inc.
- The PNC Financial Services Group Inc.
- The Western Union Company
For more information about this report visit https://www.researchandmarkets.com/r/3kd98z