Credit Card Payments Market to Reach USD 327.68 Billion with CAGR of 9.16% | Latest InsightAce Analytic Report

Companies Covered in this Study are American Express, Bank of America Corporation, Barclays PLC, Capital One, Citigroup Inc., JPMorgan Chase & Co, MasterCard, Synchrony, The PNC Financial Services Group, Inc., and USAA

Pune, March 13, 2023 (GLOBE NEWSWIRE) -- The Global Credit Card Payments Market is estimated to reach over USD 327.68 billion by 2031, exhibiting a CAGR of 9.16% during the forecast period. 

A credit card is a card used for payment that is given to cardholders to allow them to pay a merchant for products and services based on the debt they have accumulated. Credit cards offer high-security features for transferring money from one account to another, which raises customer demand for them.

The global credit card market is expanding due to the rising need for alternatives to cash and the widespread availability of affordable credit cards. Additionally, the increase in credit card consumption among young people in developing countries benefits the market's expansion. However, problems, including the global uptick in credit card fraud, are anticipated to impede market expansion. On the other hand, it is projected that throughout the projection period, technical advances in product offerings, such as the use of blockchain for greater security, will present a lucrative potential for the expansion of the market.

Get Free Sample Copy of Exclusive Report @

Recent Developments:

• In March 2022-Fintech unicorn Razor pay revealed that it had paid an undisclosed sum to acquire IZealiant Technologies, a top startup that offers banks payment technology solutions. The acquisition of Azealia will assist Razor pay's division of banking solutions to grow and enable it to develop cutting-edge payment banking technology for associate banks.

•  In September 2021-Wizi was purchased by M2P, an Indian provider of digital infrastructure, for a $5 million transaction fee. With this merger, the businesses will oversee the credit card industry and benefit their clients. An Indian company called Wizz offers credit cards.

List of Prominent Players in the Credit Card Payments Market:
•    American Express
•    Bank of America Corporation
•    Barclays PLC
•    Capital One
•    Citigroup Inc.
•    JPMorgan Chase & Co
•    MasterCard
•    Synchrony
•    The PNC Financial Services Group, Inc.
•    United Services Automobile Association
•    Visa Inc.

Buy 180 Pages Latest Published Report @

Credit Card Payments Market Report Scope:

Report AttributeSpecifications
Market size value in 2022USD 151.28 Bn
Revenue forecast in 2031USD 327.68 Bn
Growth rate CAGRCAGR of 9.16% from 2023 to 2031
Quantitative unitsRepresentation of revenue in US$ Billion, and CAGR from 2023 to 2031
Historic Year2019 to 2022
Forecast Year2023-2031
Report coverageThe forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
Segments coveredCard Type, Application And Provider
Regional scopeNorth America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scopeU.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Market Dynamics:

One of the major forces influencing the market is the increased need for non-cash alternatives to cash for the down payment and emergency funding. Additionally, there is a rise in the use of credit cards to pay for TVs, laptops, cell phones, travel packages, and jewelry. This is encouraging the market expansion of credit card payments and the accessibility of affordable credit cards globally. Additionally, the market is benefiting from technical developments in blockchain that will increase database security. In addition, some businesses give their staff unique credit cards to track their travel, meals, lodging, and goods, providing end users and market investors with profitable growth potential.

The increasing need for alternatives to funds for down payments and emergencies However, the increased cost of these products and individuals' needs for knowledge of the advantages of utilizing credit cards are some factors limiting the market's growth throughout the projection period. The COVID-19 effect on a new credit card is anticipated to impede the expansion of the credit card sector. Because there are fewer opportunities to spend money due to the economic slump, consumers are lowering their credit card debts and registering for fewer new cards.

Regional Trends:
The North America credit card payments market is expected to register a major market share because more people use credit cards to make internet purchases. The Pay packet Protection Initiative, a program of the US government to encourage digital payments, is also anticipated to boost the expansion of the North American industry. Additionally, the growing consumer usage of smartphones and tablets will support the currency's growth in North America. Besides, Europe had a substantial market share due to the developed economy and growing product adoption. This is due to the increased adoption of new strategies by the major players in the credit card payments market. Moreover, the existence of key market players and developing collaboration among major players for market penetration in the region provides the opportunity to grow the global Credit Card Payments market.

Check Disocunt on the Report @

Segmentation of Credit Card Payments Market-

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

By Region-

North America-

  • The US
  • Canada
  • Mexico


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


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

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

Get Customized Report @

About Us:

InsighAce Analytic is a specializing in market research and consulting services that helps in building business strategies. Our mission is to provide high quality insights with using data analytics techniques and visualization tools that drives the disruption and innovation in market research industry. Our expertise is in providing syndicated and custom market intelligence reports with in-depth analysis and key market insights in a timely and cost-effective manner.

Follow Us @

Subscribe Our Exclusive Newsletters @