[Latest] Global Credit Card Payments Market Size/Share Worth USD 286.5 Billion by 2032 at a 9.1% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Credit Card Payments Market size & share revenue was valued at approximately USD 152.2 Billion in 2022 and is expected to reach USD 165.6 Billion in 2023 and is expected to reach around USD 286.5 Billion by 2032, at a CAGR of 9.1% between 2023 and 2032. The key market players listed in the report with their sales, revenues and strategies are Visa Inc., Mastercard Incorporated, American Express Company, Discover Financial Services, JPMorgan Chase & Co., Bank of America Corporation, Wells Fargo & Company, Barclays PLC, Capital One Financial Corporation, Citigroup Inc, and others.


Austin, TX, USA, July 25, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled Credit Card Payments Market Size, Trends and Insights By Card Type (General Purpose Credit Cards, Specialty & Other Credit Cards), By Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, Travel & Tourism, Others), By Provider (Visa, Mastercard, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 in its research database.

“According to the latest research study, the demand of global Credit Card Payments Market size & share was valued at approximately USD 152.2 Billion in 2022 and is expected to reach USD 165.6 Billion in 2023 and is expected to reach a value of around USD 286.5 Billion by 2032, at a compound annual growth rate (CAGR) of about 9.1% during the forecast period 2023 to 2032.”

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Credit Card Payments Market: Growth Factors and Dynamics

  • Increasing Digitalization: The growing adoption of digital payment methods, including credit card usage, is driven by the convenience, speed, and security they offer. This pervasive shift towards digital transactions, facilitated by advancements in technology and mobile applications, is accelerating the expansion of the credit card payments market.
  • Contactless Payments: The rise of contactless payment technology has revolutionized the credit card payments landscape. Consumers appreciate the ease and safety of contactless transactions, especially considering the COVID-19 pandemic. Contactless-enabled credit cards have gained significant popularity, boosted consumer confidence, and contributed to market growth.
  • Globalization and Cross-border Transactions: The increasing interconnectedness of economies and the rise of international trade and tourism have led to a surge in cross-border transactions. Credit cards’ wide acceptance in various countries and currencies makes them a favoured choice for travellers and businesses engaged in global commerce, providing impetus to market expansion.
  • Reward Programs and Incentives: Credit card issuers have devised enticing reward programs, such as cashback, loyalty points, and travel benefits, to attract and retain customers. These incentives incentivize consumers to use credit cards for everyday purchases, further boosting transaction volumes and positively impacting market growth.
  • Financial Inclusion Initiatives: Efforts to promote financial inclusion have led to the issuance of credit cards to underserved populations. Empowering individuals with greater financial flexibility and access to credit enhances their participation in the formal economy, fostering market penetration and contributing to the overall growth of the credit card payments market.
  • Enhanced Security Measures: The implementation of advanced security measures, such as EMV chip technology and tokenization, has significantly boosted consumer confidence in credit card usage. These measures provide robust protection against fraudulent activities, reducing the risks associated with credit card transactions and encouraging increased adoption.
  • Government Initiatives and Digital Payments Adoption: Many governments and regulatory authorities worldwide are promoting the adoption of digital payment methods to enhance financial inclusion, curb black-market activities, and reduce the reliance on cash transactions. Such initiatives and regulatory support have positively influenced the growth of credit card payments, as consumers and businesses increasingly shift towards digital payment methods.

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Credit Card Payments Market: Partnership and Acquisition

  • American Express and Shopify (Year: 2018): In 2018, American Express, a renowned credit card issuer, partnered with Shopify, an e-commerce platform. The collaboration integrated American Express payment options into Shopify’s platform, providing merchants and customers with a seamless credit card checkout experience.
  • Discover and BigCommerce (Year: 2021): In 2021, Discover Financial Services, a credit card issuer, joined forces with BigCommerce, an e-commerce software platform. The partnership allowed BigCommerce merchants to integrate Discover card payments, expanding payment choices for customers.
  • Discover acquires The Goodway Group (Year: 2019): In 2019, Discover Financial Services acquired The Goodway Group, a marketing technology company. The acquisition aimed to enhance Discover’s marketing capabilities and better target credit card offers to potential customers.
  • Synchrony Financial acquires Allegro Credit (Year: 2020): In 2020, Synchrony Financial acquired Allegro Credit, a consumer financing company. The acquisition expanded Synchrony’s consumer financing offerings and diversified its credit card business.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 165.6 Billion
Projected Market Size in 2032 USD 286.5 Billion
Market Size in 2022 USD 152.2 Billion
CAGR Growth Rate 9.1% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Card Type, Application, Provider and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Credit Card Payments report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
  • About 220+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on the Request.
  • Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
  • Includes Tables and figures have been updated.
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
  • Custom Market Insights (CMI) research methodology

(Please note that the sample of the Credit Card Payments report has been modified to include the COVID-19 impact study prior to delivery.)

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Credit Card Payments Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Credit Card Payments Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Surge in Digital Payments: The Covid-19 pandemic prompted a shift towards contactless and online transactions due to safety concerns. As a result, there was a significant surge in credit card payments for e-commerce and digital transactions as consumers preferred contactless and secure payment options.
  • Reduced Travel and Leisure Spending: Travel restrictions and lockdown measures during the pandemic led to a decline in travel and leisure-related expenses, impacting credit card spending in these sectors. With reduced travel and entertainment expenditures, credit card usage in these categories experienced a downturn.
  • Accelerated Digital Adoption: The pandemic accelerated the adoption of digital payment methods, and credit card issuers further emphasized contactless and mobile payment solutions. This trend continues to fuel the recovery of the credit card payments market, as consumers embrace the convenience and safety of digital transactions.
  • Rebound in Travel and Leisure Spending: As vaccination rates increase and restrictions ease, there is a gradual recovery in travel and leisure activities. Credit card spending in these sectors is expected to rebound as consumer confidence improves, leading to increased usage for travel bookings, dining, and entertainment expenses.
  • Enhanced Security Measures: Credit card issuers have implemented additional security measures to combat fraud, addressing concerns raised during the pandemic. Strengthened security measures, such as biometric authentication and real-time fraud monitoring, instill greater trust in credit card payments, aiding in a market recovery.
  • Government Stimulus Measures: Various governments introduced stimulus packages to support economic recovery during the pandemic. These measures, coupled with increased consumer spending, have positively impacted the credit card payments market, boosted transaction volumes and driven the market recovery.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Credit Card Payments Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

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Key questions answered in this report:

  • What is the size of the Credit Card Payments market and what is its expected growth rate?
  • What are the primary driving factors that push the Credit Card Payments market forward?
  • What are the Credit Card Payments Industry's top companies?
  • What are the different categories that the Credit Card Payments Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the Credit Card Payments market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2023−2032
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
  • Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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List of the prominent players in the Credit Card Payments Market:

  • Visa Inc.
  • Mastercard Incorporated
  • American Express Company
  • Discover Financial Services
  • JPMorgan Chase & Co.
  • Bank of America Corporation
  • Wells Fargo & Company
  • Barclays PLC
  • Capital One Financial Corporation
  • Citigroup Inc.
  • Others

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Browse the full Credit Card Payments Market Size, Trends and Insights By Card Type (General Purpose Credit Cards, Specialty & Other Credit Cards), By Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, Travel & Tourism, Others), By Provider (Visa, Mastercard, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 Report at  https://www.custommarketinsights.com/report/credit-card-payments-market/

Credit Card Payments Market – Regional Analysis

The Credit Card Payments Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, the Credit Card Payments Market witnesses a rapid surge in contactless payments, fuelled by advanced payment technology and evolving consumer preferences. Key market players such as Visa, Mastercard, American Express, and Discover Financial Services hold dominant positions, offering diverse credit card products.
  • Europe: Europe experiences a significant trend towards mobile payments and digital wallets, as consumers increasingly opt for secure and convenient transactions through mobile apps and contactless methods. Dominant players in this region include Visa, Mastercard, Barclays, and Santander, renowned for their extensive networks and innovative payment solutions.
  • Asia-Pacific: The Asia-Pacific region sees a remarkable boom in mobile payments and digital platforms, driven by a large population of smartphone users. Mobile wallets like Alipay, WeChat Pay, and Paytm have gained immense popularity. Local players like UnionPay, JCB, and Rakuten also contribute significantly to the credit card payments market in the region.
  • LAMEA: In LAMEA (Latin America, Middle East, and Africa), the prevailing trend is the adoption of fintech solutions for credit card payments. Fintech startups and mobile payment apps gain traction, offering innovative payment options to unbanked populations. Leading market players such as Visa, Mastercard, Cielo, and Mercado Pago are at the forefront, driving digital payment innovations and expanding financial inclusion initiatives.

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The Credit Card Payments Market is segmented as follows:

By Card Type

  • General Purpose Credit Cards
  • Specialty & Other Credit Cards

By Application

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

By Provider

  • Visa
  • Mastercard
  • Others

Click Here to Get a Free Sample Report of the Global Credit Card Payments Market @ https://www.custommarketinsights.com/report/credit-card-payments-market/

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

This Credit Card Payments Market Research/Analysis Report Contains Answers to the following Questions.

  • Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Credit Card Payments Market? What are Their Company Profile, Product Information, and Contact Information?
  • What Was the Global Market Status of the Credit Card Payments Market? What Was the Capacity, Production Value, Cost and PROFIT of the Credit Card Payments Market?
  • What Is the Current Market Status of the Credit Card Payments Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Credit Card Payments Market by Considering Applications and Types?
  • What Are Projections of the Global Credit Card Payments Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
  • What Is Credit Card Payments Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is the Economic Impact On Credit Card Payments Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Credit Card Payments Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Credit Card Payments Industry?

Click Here to Access a Free Sample Report of the Global Credit Card Payments Market @  https://www.custommarketinsights.com/report/credit-card-payments-market/

Reasons to Purchase Credit Card Payments Market Report

  • Credit Card Payments Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
  • Credit Card Payments Market report outlines market value (USD) data for each segment and sub-segment.
  • This report indicates the region and segment expected to witness the fastest growth and dominate the market.
  • Credit Card Payments Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
  • The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
  • Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
  • The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
  • Credit Card Payments Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

  • The study provides a thorough overview of the global Credit Card Payments market. Compare your performance to that of the market as a whole.
  • Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

  • Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Credit Card Payments market analysis.
  • The competitive environment of current and potential participants in the Credit Card Payments market is covered in the report, as well as those companies' strategic product development ambitions.
  • According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
  • For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

  • Participants and stakeholders worldwide Credit Card Payments market should find this report useful. The research will be useful to all market participants in the Credit Card Payments industry.
  • Managers in the Credit Card Payments sector are interested in publishing up-to-date and projected data about the worldwide Credit Card Payments market.
  • Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Credit Card Payments products' market trends.
  • Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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