The top five card issuers in the United States were responsible for ** percent of the market, with three issuers taking up ********* of card transaction value. This is according to a publication from September 2024, that quoted data for the United States in 2023. Note that the figures display card payments as a whole, and do not distinguish between credit cards or debit cards. Visa ranks as the United States' biggest card scheme, but its market share has slowly declined since 2020 in favor of American Express.

Credit card issuers generate revenue from cardholders primarily through fees and interest earned on revolving credit. Companies compete by offering customers lower interest rates, flexible and secure payment options and rewards programs based on spending levels. Over the past five years, industry revenue has grown at a CAGR of 1.6% to $178.6 billion, including an expected jump of 0.6% in 2025 alone. Industry profit has climbed to 31.6% in 2025, up from 11.9% in 2020. Improving employment and consumer spending levels and promoting increases in revolving balances are expected to support performance. Revenue declined both in 2020 and 2021 due to the economic volatility. Since then, revenue has crawled along, as the consumer price index has climbed which has contributed to the aggregate household debt to jump as consumers are increasingly using their credit cards for purchases, pushing demand and revenue higher. Competing economic trends and technology adoption will determine industry growth. Performance will continue to improve as consumer spending keeps increasing. However, while national unemployment is likely to decline and support demand for credit cards, Federal Reserve Board actions to stem inflation may threaten revenue generation. In addition, mounting industry competition in rewards programs will challenge profit margins. External competitive threats from companies providing Buy Now Pay Later expand consumers' credit options. These appealing new low or no-interest financing plans offered directly from sellers on social media platforms seamlessly link products to payment, bypassing industry operators' similar payment offerings. Emerging technologies like cryptocurrencies and artificial intelligence systems represent a significant opportunity for credit card issuers to secure market share and reduce costs. Overall, credit card issuing revenue is set to increase at a CAGR of 0.8% to $185.9 billion over the five years to 2030.

As of December 2022, Shinhan Card had a 21.8 percent share of the credit card market in South Korea. Samsung Card and Hyundai Card followed with around 20 and 19 percent, respectively.

Market Size statistics on the Credit Card Issuing industry in the US

The Japan Credit Cards Market Report Segments the Industry Into by Card Type (General Purpose Credit Cards, and Other), by Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, and Other Applications), and by Provider (Visa, Mastercard, Other Providers), and by Geography (Hokkaido, and Other). The Market Forecasts are Provided in Terms of Value (USD).

The top five main card issuers in the United Kingdom together were responsible for ** percent of the market, with two issuers taking up nearly ********* of it. This is according to a publication from **************, that quoted data for the UK in 2022. Note that the figures display card payments as a whole, and do not distinguish between credit cards or debit cards. Visa's market share in the UK is estimated to be significantly higher than that of Mastercard, or other card brands.

The Credit Card Issuance industry has contracted as the number of cards issued and balances accruing interest have fallen. Issuers have faced significant competition from other forms of payment like debit cards and BNPL services. The monthly value of debit card transactions has continued to surpass the monthly value of credit card transactions thanks to initiatives like the Reserve Bank of Australia's (RBA) least-cost routing initiative. BNPL services have also gained popularity with younger consumers who constitute a significant market for online sellers. That's why revenue is set to weaken by an annualised 5.3% over the five years through 2024-25, to $7.6 billion. To compete with sophisticated competition, credit card issuers have beefed up their reward and referral programs and integrated online payment, service and customer acquisition platforms into their operations. The Big Four banks dominate the industry and NAB's acquisition of Citigroup's Australian consumer banking business has expanded its collective market share. Economic conditions tied to inflationary pressures have ravaged consumer sentiment and appetites for spending through credit. Some customers have opted to pay down debt instead and have avoided taking on more. A sharp climb in interest rates over the past few years has compounded this dynamic, which is set to constrain industry performance in 2024-25, with revenue declining by an anticipated 0.9%. Credit card issuers' performance will improve over the coming years as economic conditions recover. Credit card issuance revenue is projected to expand at an annualised 2.0% through the end of 2029-30, to total $8.4 billion. The RBA is forecast to slash the cash rate once inflation falls within the central banks' target band, lifting credit card issuer profit margins as funding costs drop. Alternative payment methods, like BNPL services, debit transactions and other fintech solutions, are on track to sap away demand for credit cards. However, easing inflationary pressures and lower interest rates over the medium term are set to spur household consumption expenditure and credit card use. In response to the fierce competition, issuers will emphasise innovation and enhance their rewards and points systems to entice consumers.

The top five main card issuers in China together were responsible for ********** of the market, with *** issuers taking up nearly ** percent of it. This is according to a publication from **************, that quoted data for China in 2022. Note that the figures display card payments as a whole, and do not distinguish between credit cards or debit cards. China has a single card scheme that dominates the market, accounting for practically the entire market.

The Hong Kong Credit Cards Market Report is Segmented by Application (Food & Groceries, Health & Pharmacy, and More), Card Type (General-Purpose Credit Cards, Specialty & Other Credit Cards), Card Format (Physical, Digital/Tokenised), Provider (Visa, Mastercard, Other Providers), Issuer Type (Local Traditional Banks, Foreign Banks), and Geography (Hong Kong). The Market Forecasts are Provided in Terms of Value (USD).

Ranking of Credit Cards Issuers by market share by number of cards, purchase value, credit outstanding value.

Credit Cards Market Outlook

The global credit cards market size was valued at approximately USD 3.2 trillion in 2023 and is projected to reach USD 5.4 trillion by 2032, growing at a CAGR of 6.2% during the forecast period. This impressive growth is driven by a combination of factors including increased consumer spending, advances in digital payment technologies, and the globalization of financial services. The proliferation of e-commerce and the shift towards cashless economies have further fueled the demand for credit cards as a preferred mode of payment worldwide. The ease of transaction, enhanced security features, and attractive rewards programs are also playing a pivotal role in the expansion of the credit cards market.

One of the primary growth factors in the credit cards market is the rapid digitization of financial services. As consumers increasingly favor online shopping and digital payment methods, credit cards have become essential tools for facilitating these transactions. Financial institutions and card issuers are continuously enhancing their digital platforms to cater to the tech-savvy populace, which demands seamless, quick, and secure payment solutions. The adoption of technologies like tokenization and biometric authentication has further strengthened the security of credit card transactions, instilling greater confidence among consumers. Additionally, the growing penetration of smartphones and internet connectivity across emerging markets is anticipated to boost credit card usage significantly.

The evolving consumer lifestyle and spending habits are also key contributors to the market's expansion. Credit cards offer unparalleled convenience and purchasing power, enabling consumers to meet their immediate needs and desires without the constraint of immediate cash flow. Beyond mere financial flexibility, credit cards are increasingly being integrated with rewards programs, cash-back offers, travel perks, and various other incentives that appeal to different consumer segments. This strategic marketing by banks and card issuers is not only attracting new users but also encouraging existing cardholders to increase usage, thereby contributing to market growth.

Another factor driving the credit cards market is the competitive landscape among card issuers and networks. The presence of a wide array of products catering to different consumer needs—ranging from standard cards for everyday purchases to premium cards offering luxury benefits—ensures broad market appeal. This competitive environment is fostering innovation as issuers continuously strive to differentiate their offerings through enhanced features and services. Additionally, partnerships between card issuers and retailers, airlines, and hospitality businesses are creating co-branded cards that further enhance customer value, thus driving market adoption.

Regionally, North America holds the largest share in the credit cards market due to its mature financial infrastructure and high consumer spending capacity. However, the Asia Pacific region is expected to witness the fastest growth, propelled by rapid urbanization, a burgeoning middle-class population, and increasing adoption of digital payment methods. In countries like China and India, government initiatives promoting cashless transactions are creating a fertile ground for credit card penetration. Europe, with its sophisticated banking systems and consumer base, continues to display steady growth, while Latin America and the Middle East & Africa regions are gradually catching up as financial inclusion efforts intensify.

Card Type Analysis

In the credit cards market, different card types serve varied consumer needs and preferences, each contributing uniquely to the market dynamics. Standard cards, typically offering basic credit functions without additional perks, cater primarily to the mass market. These cards remain popular due to their accessibility and ease of use, often being the introductory product for new credit card users. Standard cards serve as a gateway for consumers to build their credit history and gain familiarity with credit products. As such, they represent a significant portion of the market, particularly in regions where credit card adoption is still in its nascent stages.

Premium cards, on the other hand, are designed for high-income individuals seeking exclusive benefits and services. These cards often come with higher credit limits and are loaded with features such as travel insurance, concierge services, airport lounge access, and significant reward points. The market for premium cards is expanding as affluen

Credit card issuance revenue is slated to dip at a compound annual rate of 7.3% over the five years through 2025-26 to £20.5 billion, including estimated growth of 9.5% in 2025-26. The cost-of-living crisis has been both a blessing and a curse – on the one hand, households have turned to credit cards to pay for necessities as disposable incomes have taken a hit; on the other, it’s caused a higher rate of default and a lower level of total spending. Rampant inflation has made revenue very volatile. Drops in disposable income have left households scrambling to pay for necessities, with the ONS finding that 21% of adults had to use personal loans or credit cards to afford their living costs across 2023-24. Credit card issuers earn a large portion of their revenue from interest income. When the Bank of England ramped up interest rates to curb spiralling inflation over the two years through 2023-24, issuers saw their revenue skyrocket. Although interest rate cuts occurred over 2024-25, the average rate issuers charged borrowers continued to climb, reflecting the rising number of defaults, and issuers seeking to maintain profitability after being forced to raise provisions to cover losses. Interest rates will continue to drop in 2025-26, but this will make borrowing more affordable and reduce the likelihood of defaults, supporting lending activity and aiding revenue growth during the year. The likely decline in defaults will also allow issuers to reduce provisions, lifting the average industry profit margin to 5.9% in 2025-26. Credit card issuance revenue is forecast to expand at a compound annual rate of 4.1% over the five years through 2030-31 to reach £19.3 billion. Demand for credit cards from younger demographics is set to pick up in the coming years, with TransUnion finding more Gen Z consumers getting credit cards in 2023 compared to Millennials a decade earlier, positioning the industry for solid growth. The intensifying threat of buy-now-pay-later platforms will also cool as the FCA clamps down on the industry, introducing new regulations that increase transparency and checks to ensure borrowers can repay their debt. Issuers will also seek to capitalise on the growing market of environmentally conscious consumers, using recycled plastics and biodegradable alternatives for credit cards. This will give smaller issuers a healthy source of competition to compete with more established companies, weighing on market share concentration.

The top five main card issuers in Germany together were responsible for about ** percent of the market, with two issuers taking up nearly **** of it. This is according to a publication from September 2024, that quoted data for Germany in 2023. Note that the figures display card payments as a whole, and do not distinguish between credit cards or debit cards. The main card scheme of Germany is girocard, an in-market local scheme that comprised the majority of the market in 2023.

The Europe Credit Cards Market Report is Segmented by Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, and More), Card Type (General Purpose Credit Cards, Specialty & Other Credit Cards), Card Format (Physical, Digital), Provider (Visa, Mastercard, Other Providers), and Geography (United Kingdom, Germany, France, and More). The Market Forecasts are Provided in Terms of Value (USD).

The Credit Card Issuing industry in California is expected to grow an annualized x.x% to $x.x billion over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments increased an annualized x.x% to xx locations. Industry employment has increased an annualized x.x% to x,xxx workers, while industry wages have increased an annualized x.x% to $x.x million.

The Canada Credit Cards Market Report is Segmented by Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, Travel & Tourism, Other Applications), Card Type (General Purpose Credit Cards, Specialty & Other Credit Cards), Card Format (Physical, Digital), Provider (Visa, Mastercard, Other Providers). The Market Forecasts are Provided in Terms of Value (USD).

The global bank card solutions market is experiencing robust growth, driven by the increasing adoption of digital payment methods and the expanding e-commerce landscape. The market size in 2025 is estimated at $250 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 12% from 2025 to 2033. This significant growth is fueled by several key factors. Firstly, the increasing penetration of smartphones and internet access globally is driving the demand for convenient and secure digital payment solutions. Secondly, government initiatives promoting financial inclusion and the rise of fintech companies are further accelerating market expansion. The segment dominated by debit cards holds a substantial market share due to their widespread accessibility and affordability. Geographically, North America and Europe currently hold the largest market shares, although the Asia-Pacific region is projected to experience the fastest growth owing to rapid economic development and increasing digitalization in emerging economies like India and China. The market is segmented by card type (debit, credit, prepaid) and issuing bank type (state, commercial, others). Key players, including Visa, Mastercard, and American Express, are constantly innovating to enhance security features, improve user experience, and expand their global reach. However, the market faces challenges. Stringent regulatory compliance requirements and concerns about data security and fraud are significant restraints. Furthermore, the rising adoption of alternative payment methods, such as mobile wallets and Buy Now Pay Later (BNPL) services, poses competitive pressure. The market's future hinges on the ongoing development of advanced technologies such as biometric authentication, tokenization, and blockchain solutions to address these challenges and further enhance the security and efficiency of bank card solutions. Continued innovation in card technology and payment processing infrastructure will be crucial to sustaining the market's growth trajectory. The shift towards contactless payments and the integration of bank card solutions with other financial services are key trends shaping the market's future.

Card Issuing Market Outlook

According to our latest research, the global Card Issuing market size reached USD 298.4 billion in 2024, driven by the rapid adoption of digital payment solutions and increasing demand for contactless transactions worldwide. The market is expected to grow at a robust CAGR of 7.2% during the forecast period, reaching a projected value of USD 555.8 billion by 2033. This significant expansion is primarily fueled by technological advancements in card security, evolving consumer preferences towards cashless transactions, and the proliferation of fintech innovations that streamline the card issuance process.

One of the primary growth factors in the card issuing market is the acceleration of digital transformation across the banking and financial services sector. As consumers increasingly demand seamless, secure, and convenient payment methods, financial institutions are investing heavily in upgrading their card issuing infrastructure. The surge in e-commerce, coupled with the growing popularity of contactless payments, has pushed banks and fintech companies to issue more sophisticated card products, including virtual and prepaid cards. Furthermore, the integration of advanced security features such as biometric authentication, tokenization, and EMV chip technology has enhanced user trust and reduced fraud, further bolstering market growth.

Another critical driver is the expanding reach of financial inclusion initiatives, particularly in emerging markets. Governments and regulatory bodies are partnering with banks and fintech firms to provide unbanked and underbanked populations with access to formal financial services through card-based solutions. Prepaid and debit cards are increasingly being used to distribute government benefits, wages, and subsidies, which not only improves transparency but also encourages a shift from cash to digital payments. The proliferation of mobile banking and digital wallets, especially in Asia Pacific and Africa, is creating new opportunities for card issuers to tap into previously underserved segments.

Additionally, the rise of fintech companies and non-traditional financial service providers is reshaping the competitive landscape of the card issuing market. These agile players leverage cutting-edge technology to offer innovative card products tailored to specific customer needs, such as virtual cards for online shopping or multi-currency cards for international travelers. Strategic collaborations between fintechs, retailers, and payment networks are enabling faster, more flexible card issuance and enhancing customer experience. The trend towards open banking and API-driven platforms is further accelerating product development cycles, enabling issuers to rapidly respond to evolving market demands.

From a regional perspective, Asia Pacific is emerging as the fastest-growing market for card issuing, fueled by rapid urbanization, a burgeoning middle class, and strong government support for digital payments infrastructure. North America and Europe continue to dominate in terms of market share, thanks to their mature financial ecosystems and high consumer adoption of credit and debit cards. Meanwhile, Latin America and the Middle East & Africa are witnessing increased investments in financial technology and infrastructure, setting the stage for robust future growth. The interplay of local regulations, consumer behaviors, and technological readiness will continue to shape regional dynamics in the years ahead.

Card Type Analysis

The card type segment of the card issuing market encompasses a diverse range of products, including credit cards, debit cards, prepaid cards, virtual cards, and others. Credit cards remain a dominant force, particularly in developed economies, where they are widely used for both consumer and corporate payments. The appeal of credit cards lies in their convenience, reward programs, credit-building capabilities, and widespread acceptance both online and offline. However, issuers are facing intensifying competition and regulatory scrutiny, prompting them to innovate with features such as dynamic CVVs, enhanced fraud detection, and personalized offers to retain customer loyalty and drive usage.

Debit cards, on the other hand, have seen remarkable growth in both mature and emerging markets, largely due to their direct linkage with checking and savings accounts. The push for financial inclusion and the digitization of government ben

Private Label Credit Card Market Outlook

As per our latest research, the global private label credit card market size reached USD 184.2 billion in 2024, reflecting robust adoption across diverse sectors. The market is experiencing a steady compound annual growth rate (CAGR) of 7.1% and is forecasted to attain a value of USD 336.8 billion by 2033. The primary growth driver for the private label credit card market is the increasing emphasis on customer loyalty programs and personalized financial solutions by retailers and service providers worldwide, which has significantly boosted the issuance and usage of private label cards.

The private label credit card market is being propelled by several key factors, with one of the most significant being the growing focus on enhancing customer retention and loyalty. Retailers and service providers are increasingly leveraging private label credit cards as a strategic tool to foster repeat business and incentivize larger purchases through exclusive discounts, rewards, and financing options. This trend is particularly pronounced in sectors such as retail, travel, and entertainment, where customer engagement and brand differentiation are critical for sustained growth. The integration of advanced analytics and customer relationship management (CRM) systems has further enabled issuers to tailor card offerings and rewards programs to individual consumer preferences, driving higher card activation and usage rates.

Another major growth factor for the private label credit card market is the advancement of digital payment technologies and the proliferation of e-commerce platforms. The shift towards digital transactions, accelerated by the COVID-19 pandemic, has created new opportunities for private label card issuers to expand their customer base and streamline card management processes. Mobile applications, contactless payment features, and seamless integration with digital wallets have enhanced the convenience and security of private label credit cards, making them an attractive payment solution for both consumers and businesses. This digital transformation has also enabled issuers to rapidly onboard new customers and launch targeted marketing campaigns, further fueling market expansion.

Additionally, the market is benefiting from the increasing collaboration between retailers, financial institutions, and fintech companies. These partnerships have led to the development of innovative private label credit card products that offer flexible credit limits, dynamic interest rates, and value-added services such as installment payment options and co-branded rewards. The competitive landscape is driving continuous product innovation, with issuers seeking to differentiate their offerings through enhanced user experiences and integrated financial services. Regulatory support for financial inclusion and responsible lending practices in emerging markets is also contributing to the steady growth of the global private label credit card market.

From a regional perspective, North America continues to dominate the private label credit card market, accounting for the largest share in 2024 due to the presence of established retail chains, high consumer spending, and advanced payment infrastructure. However, the Asia Pacific region is witnessing the fastest growth, driven by rapid urbanization, rising disposable incomes, and the digitalization of retail and financial services. Europe and Latin America are also experiencing steady market expansion, supported by increasing adoption of private label cards in retail and fuel sectors. The Middle East & Africa region is gradually emerging as a promising market, with growing investments in retail infrastructure and digital payment solutions.

Card Type Analysis

The private label credit card market is segmented by card type into open-loop and closed-loop cards, each serving distinct needs and customer segments. Open-loop private label credit cards, which can be used at a wide range of merchants beyond the issuing brand, have gained traction due to their versatility and wider acceptance. These cards are typically backed by major payment networks, allowing cardholders to enjoy the benefits of a private label relationship while retaining the flexibility of a traditional credit card. The open-loop segment is particularly attractive to businesses seeking to maximize cardholder engagement and spending across multiple channels, as well as to consumers who va

Credit card debt in the United States has been growing at a fast pace between 2021 and 2025. In the fourth quarter of 2024, the overall amount of credit card debt reached its highest value throughout the timeline considered here. COVID-19 had a big impact on the indebtedness of Americans, as credit card debt decreased from *** billion U.S. dollars in the last quarter of 2019 to *** billion U.S. dollars in the first quarter of 2021. What portion of Americans use credit cards? A substantial portion of Americans had at least one credit card in 2025. That year, the penetration rate of credit cards in the United States was ** percent. This number increased by nearly seven percentage points since 2014. The primary factors behind the high utilization of credit cards in the United States are a prevalent culture of convenience, a wide range of reward schemes, and consumer preferences for postponed payments. Which companies dominate the credit card issuing market? In 2024, the leading credit card issuers in the U.S. by volume were JPMorgan Chase & Co. and American Express. Both firms recorded transactions worth over one trillion U.S. dollars that year. Citi and Capital One were the next banks in that ranking, with the transactions made with their credit cards amounting to over half a trillion U.S. dollars that year. Those industry giants, along with other prominent brand names in the industry such as Bank of America, Synchrony Financial, Wells Fargo, and others, dominate the credit card market. Due to their extensive customer base, appealing rewards, and competitive offerings, they have gained a significant market share, making them the preferred choice for consumers.