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.

The top five card issuers in the United States were responsible for 41 percent of the market, with three issuers taking up one-third 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.

The main issues of commercial cards for small business in the United States in 2024 was JPMorgan Chase. In 2020, JPMorgan Chase lost this position when its purchase volume decreased to around *** billion U.S. dollars in 2020, while Bank of America purchase value increased that year, up to around *** billion U.S. dollars. As of 2024, JPMorgan Chase's purchase volume has increased to approximately ****** billion U.S. dollars, while Bank of America's has risen to about ****** billion U.S. dollars.

Rewards-based Credit Card Market Outlook

The global rewards-based credit card market size was valued at approximately $1.2 trillion in 2023 and is projected to reach a staggering $2.5 trillion by 2032, growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period. One of the primary growth factors driving this expansion is the increasing consumer preference for rewards and incentives when making purchases, which boosts the attractiveness and adoption of rewards-based credit cards worldwide.

Several factors contribute to the robust growth of the rewards-based credit card market. Firstly, consumers are increasingly drawn to credit cards that offer tangible benefits such as cashback, travel rewards, and points that can be redeemed for various products and services. This trend is reinforced by rising disposable incomes and a growing middle class in emerging economies, which has led to a surge in credit card issuance and usage. Secondly, technological advancements and the proliferation of digital payment platforms have made it easier for consumers to manage and track their rewards, enhancing the overall user experience and driving market growth.

Additionally, the competitive landscape among credit card issuers is intensifying, with banks, credit unions, and fintech companies continually innovating their rewards programs to attract and retain customers. Customization of rewards to meet the diverse needs and preferences of different consumer segments has become a key strategy for market players. Furthermore, strategic partnerships between credit card issuers and merchants provide exclusive offers and discounts, further incentivizing the use of rewards-based credit cards.

Another significant growth driver is the increasing emphasis on cashless transactions, spurred by government initiatives and policies aimed at promoting digital payments. This shift towards a cashless economy has led to a rise in credit card adoption, particularly in regions such as Asia Pacific and Latin America. Moreover, the convenience and security features associated with credit card usage, including fraud protection and purchase insurance, make them a preferred payment method for many consumers, thereby boosting market growth.

On the regional front, North America holds a significant share of the rewards-based credit card market, driven by high consumer spending, a well-established credit card infrastructure, and a strong preference for reward programs. Europe follows closely, with a growing inclination towards digital payments and an expanding base of credit card users. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, fueled by increasing urbanization, rising disposable incomes, and supportive government policies promoting digital transactions.

Card Type Analysis

The rewards-based credit card market can be segmented by card type into cash back, travel rewards, points rewards, and others. Cash back credit cards remain immensely popular among consumers due to their simplicity and direct financial benefits. These cards offer a percentage of cash back on purchases, which can be reinvested or used to offset future expenses. The straightforward nature of cash back rewards makes them appealing to a broad range of consumers, driving their significant market share.

Travel rewards credit cards are another prominent category, offering benefits such as airline miles, hotel stays, and travel-related perks. With the resurgence of travel post-pandemic, these cards are gaining traction among consumers who seek to maximize their travel experiences through accumulated rewards. Partnerships between credit card issuers and travel service providers further enhance the value proposition of travel rewards cards, making them a preferred choice for frequent travelers.

Points rewards credit cards allow users to accumulate points on their purchases, which can be redeemed for a variety of goods and services, including merchandise, gift cards, and experiences. The flexibility and variety offered by points rewards programs appeal to consumers seeking tailored reward options. Credit card issuers often run promotional campaigns to boost point accumulation, further driving the popularity of this card type.

Other types of rewards-based credit cards include those offering specific benefits such as store loyalty rewards, gas rewards, and dining rewards. These niche cards cater to specific consumer needs and preferences, providing targeted benefits that enhance customer satisfaction

Credit Card Payments Data is provided by Card Issuers and contain statistics on number of cards, transactions, payments and 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

The global personal credit card market, valued at $1,404,430 million in 2025, is projected to experience robust growth, driven by several key factors. The increasing adoption of digital payment technologies and the expansion of e-commerce are significantly boosting credit card usage across various demographics. Furthermore, targeted marketing strategies by credit card issuers, coupled with attractive rewards programs and competitive interest rates, are enticing new customers and increasing spending amongst existing users. The market segmentation reveals diverse user profiles, ranging from individuals with limited credit card usage to those with high usage and revolving debt. This necessitates a nuanced approach from issuers, requiring tailored product offerings and responsible lending practices to cater to varying risk profiles and financial behaviors. The growth is further fueled by increasing financial inclusion efforts in emerging markets, expanding the addressable market significantly. However, factors such as stringent regulatory oversight, rising concerns about debt management, and the potential for economic downturns pose potential challenges to sustained market growth. The competitive landscape is highly fragmented, with both established international banks and regional players vying for market share, leading to intense competition in terms of pricing, features, and customer service. The market's regional distribution shows a concentration in developed economies like North America and Europe, driven by high credit card penetration and established financial infrastructure. However, significant growth opportunities exist in rapidly developing economies within Asia-Pacific and other emerging regions, where increasing disposable incomes and expanding middle classes are fueling credit card adoption. The diverse application segments, including daily consumption, travel, and entertainment, present significant avenues for innovation and customization of credit card products and services. The projected Compound Annual Growth Rate (CAGR) of 4.3% indicates a steady, consistent expansion of the market throughout the forecast period (2025-2033). This suggests sustained demand and consistent investment in the sector, despite potential challenges. This growth trajectory is expected to be supported by ongoing advancements in financial technology, personalization of services, and the continued expansion of digital banking platforms.

The rewards credit card market is experiencing robust growth, driven by increasing consumer spending, the proliferation of lucrative rewards programs, and the expanding digitalization of financial services. While precise market size figures for the base year (2025) are unavailable, considering the presence of major players like Capital One, American Express, and Chase, alongside numerous regional and niche banks, a conservative estimate places the 2025 market size at approximately $250 billion USD. Assuming a Compound Annual Growth Rate (CAGR) of 8% – a reasonable figure given the market's dynamism and consistent consumer interest in rewards – the market is projected to reach over $400 billion by 2033. This growth is fueled by several key trends: the rising popularity of cashback rewards, the expansion of travel and points-based systems, and increasingly personalized rewards offerings tailored to individual spending habits. Furthermore, partnerships between credit card issuers and major retailers or travel providers enhance the appeal and value proposition of these cards. However, the market is not without its challenges. Increased regulatory scrutiny, stricter lending standards, and the potential for economic downturns could act as restraints on growth. The competitive landscape is highly saturated, requiring issuers to continually innovate and offer compelling value propositions to attract and retain customers. Segmentation within the market is significant, with cards catering to various demographics and spending preferences. Premium travel cards, student cards, and cashback cards all contribute to the market's complexity and its opportunities for growth and differentiation. The continued adoption of fintech and the increasing use of mobile payment systems will further shape the market's evolution in the coming years.

Number of Businesses statistics on the Credit Card Issuing industry in United States

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.

Prepaid credit and debit card providers have displayed volatility during the current period. The disruptions at the onset of the period due to the pandemic caused state and local governments to shut down businesses to stop the spread of the virus. Some individuals lost their jobs and couldn't get government aid, so poverty rates rose. Since poor individuals are more likely to be unable to access traditional banking and credit cards, the increase in the poverty rate boosted demand for prepaid cards. However, the recovery in the economy in the latter part of the period has increased incomes, which have shifted revenue away from the industry and back toward traditional financial products. Also, the number of adolescents aged 10 to 19 has declined, hindering industry demand from the younger demographic and lower-income bracket. The decline in teenagers as a percentage of the population has been the biggest long-term threat to prepaid card providers. Since teenagers aren't legally able to have credit cards, their parents buy them prepaid cards so they can purchase goods online. Fewer teenagers reduce this revenue stream for the industry, which has caused revenue to fall in the long term. Since people use prepaid cards often when buying goods online, surging e-commerce has partially counteracted the negative impact of fewer teenagers and rising incomes in recent years. Overall, revenue for prepaid credit and debit card providers declined at a CAGR of 0.5% to $17.5 billion over the five years to 2025, including an expected decrease of 2.6% in the current year alone. However, industry profit climbed over the past five years, comprising 13.0% of revenue. The industry will face serious threats from substitutes in the near future. As incomes increase during the outlook period, more consumers will gain access to traditional financial products, siphoning away revenue from prepaid card providers. Banks and credit card companies will continue innovating, making substitutes even more potent. Increased consumer spending will boost online sales and other forms of purchases that will require the use of prepaid cards, so this trend will partially counteract the threat from substitutes. Prepaid credit and debit card providers will innovate by updating their software and pricing systems to incentivize consumers to use their products more often. Overall, revenue for prepaid credit and debit card providers is projected to sink at a CAGR of 2.4% to $15.5 billion over the five years to 2030.

Visa and Mastercard had varying market shares across 14 different European countries in 2024, sometimes significantly lower than domestic payment cards. Visa was the largest card issuer in Ireland, with a market share of 90 percent. Mastercard, on the other hand, held market shares of 87 percent and 71 percent in the Netherlands and Sweden, respectively. Unlike the United States, Visa and Mastercard are often associated with debit cards in Europe. Indeed, debit card use is more prevalent than the use of credit cards in Europe, as revealed by estimates on credit cards and debit cards per capita in 37 European countries. Visa is Europe’s biggest payment brand... Across all considered European payment figures, Visa outperforms MasterCard. For instance, credit cards and prepaid cards issued across the European continent were used for nearly 97 billion transactions in 2019. Nearly 60 percent of all these transactions were done with Visa general purpose cards, while MasterCard made up for 39 percent of the market. In 2018, Visa also had a higher purchase volume in Europe than MasterCard, Amex and Diners combined. Visa made up for 1.8 trillion of the three trillion U.S. dollars that credit cards, debit cards, and prepaid cards generated that year in Europe. ... but in name only, as Europe’s payment landscape is complicated. When looking at European countries individually, however, the market shares of Visa and MasterCard varied dramatically. In Germany, for example, the domestic card brand Girocard had a market share of 75 percent, whereas Visa and MasterCard each made up around 13 and 11 percent of the market. Italy, on the other hand, was more divided. Bancomat cards made up 45 percent of transactions, whereas MasterCard and Visa each held a market share of approximately 20 and 34 percent. Market shares for either Visa or MasterCard are not readily available in France as the term “bank card” or carte bancaire (derived from the domestic payment brand CB) is not associated with a particular brand in French language, as can be seen in a domestic survey on the most preferred payment methods in France.

The credit card collection service market is estimated to reach $3802.4 million by 2033, exhibiting a CAGR of XX% during the forecast period 2025-2033 (historical period: 2019-2024). Key drivers for this growth include rising consumer debt levels, increasing use of credit cards, and stricter regulations on debt collection. The market is segmented by type (door-to-door collection, telephone collection), application (banks, other credit card issuers), and region (North America, Europe, Asia Pacific, Middle East & Africa, South America). North America is expected to hold the largest market share, while Asia Pacific is poised to register the highest CAGR. Prominent market players include KK Associates, Creditors Collection Service, Inc., Vital Solutions, Inc., AmSher, Holloway Credit Solutions, LLC, Credit & Collection Recovery Service, Inc, Merchants Adjustment Service, DiRecManagement, Inc, Armstrong and Associates, Fidelity Creditor Service, Inc, Optio Solutions LLC, Midland Credit Management, Nationwide Recovery Network Inc, Capital Collections, ARS National Services, AAA Credit Services, Commercial Trade Inc, Your Collection Solution LLC, Cooper Judgment Recovery, LLC, Global Debt Solutions Inc, Debt Collection, Huadao Data Processing (Suzhou) Co., Ltd, Shanghai Yinhua Yinhua Service Outsourcing Co., Ltd, Gaobai (China) Enterprise Management Consulting Co., Ltd, Beijing Huatuo Financial Service Outsourcing Co., Ltd, CBC (Beijing) Credit Management Co., Ltd, Shenzhen Wancheng United Investment Co., Ltd. Strategic initiatives undertaken by these players, such as mergers and acquisitions, partnerships, and new product launches, are expected to further shape the market landscape.

Macroeconomic improvements and greater acceptance of reward programs have driven growth for card reward program services. Over the past five years, consumers' willingness to accrue higher levels of debt led to increased demand for operators' complementary services. In addition, consumers have maintained a taste for rewards program services, while both national and local retailers have increased their card-linked marketing efforts. In addition, the economic recovery following volatility experienced at the onset of the period, coupled with rising aggregate household debt and corporate profit has enabled consumers' ability to manage credit card debt causing revenue to grow at a CAGR of 2.4% to $952.0 million over the past five years to 2024, including an expected increase of 1.1% in 2025 alone. The recent rate cuts have also contributed to increased consumer spending, positively influencing operators' profits. In 2025, profit measured as earnings before interest and taxes, is expected to account for 19.6% of revenue. Rising aggregate household debt levels have benefited operators. According to the Federal Reserve, aggregate household debt levels have increased from $15.6 trillion in 2020 to an estimated $16.1 trillion in 2025, as consumers have displayed confidence in their financials and have been willing to take on higher levels of debt amid macroeconomic growth. This trend was accelerated by high inflation, which exacerbated costs for consumers and forced many customers to purchase items via credit in an attempt to preserve their fiscal stability. Consumer spending has also grown at a CAGR of 3.4%. According to the latest data available from the Federal Reserve, domestic consumer credit and credit card balances have also increased. Over the next five years, revenue is expected to grow at a CAGR of 1.8% to $1.0 billion. Continued improvements in key macroeconomic variables and acceptance among downstream markets are expected to contribute to this growth, especially as the economy is expected to continue growing and lingering inflationary challenges are eased. Operators will contend with a massive level of competition, primarily from credit card issuers and banks that develop and maintain internal card reward programs. Credit card issuers will focus on wealthier consumers who tend to spend more on their cards, the anticipated growth in households earning more than $100,000 is forecast to boost revenue growth possibilities moving forward.

The Consumer Credit Market Report is Segmented by Payment Method (Direct Deposit, Debit Card, Other Payment Method), by Credit Type (Revolving Credits, Non-Revolving Credits), by Issuer (Banks and Finance Companies, Credit Unions, Other Issuers), by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Metal Card Market Outlook

The global metal card market's size is projected to grow significantly from USD 1.5 billion in 2023 to an estimated USD 3.9 billion by 2032, reflecting a robust CAGR of approximately 11.2% during the forecast period. This impressive growth trajectory is largely fueled by increasing consumer preference for premium and durable payment solutions, as well as technological advancements in card manufacturing processes. The market is set to expand as financial institutions and retailers continue to capitalize on the distinctive and luxurious appeal of metal cards, which help in enhancing customer loyalty and brand differentiation.

One of the main growth factors driving the metal card market is the rising demand for exclusive and personalized banking experiences. Consumers are increasingly seeking sophisticated and durable alternatives to traditional plastic cards, prompting financial service providers to adopt metal cards as a means to attract and retain high-net-worth clients. Additionally, the aesthetic appeal and perceived status associated with metal cards contribute to their growing popularity among affluent customers. This trend is further supported by the customization options that metal cards offer, allowing issuers to tailor designs to specific customer preferences, thereby enhancing customer satisfaction and loyalty.

Technological advancements in materials and manufacturing processes have also played a crucial role in the growth of the metal card market. Innovations such as laser etching and digital printing have enabled high-quality customization and personalization, making it easier for issuers to create unique and appealing designs. Furthermore, improvements in material durability and recyclability have positioned metal cards as a more sustainable option compared to plastic alternatives. As environmental concerns continue to rise, the eco-friendly aspects of metal cards can serve as a competitive advantage for issuers looking to appeal to environmentally conscious consumers.

The production of metal cards requires a variety of card making materials that ensure both durability and aesthetic appeal. These materials often include metals such as stainless steel, aluminum, and copper, each offering unique properties that cater to different consumer preferences. Stainless steel is favored for its strength and sleek finish, while aluminum provides a lightweight and cost-effective option. Copper, with its distinctive appearance and antimicrobial properties, is also gaining popularity. The choice of material not only affects the card's physical attributes but also its environmental impact, making sustainable sourcing an important consideration for manufacturers.

The increasing adoption of contactless payment technology is another significant factor contributing to the growth of the metal card market. With the global shift towards digital and cashless transactions, metal cards are being designed to incorporate contactless features, thereby enhancing their functionality and appeal. This trend is particularly evident in regions with high levels of digital payment adoption, where financial institutions are integrating contactless technology into their metal card offerings to meet the evolving needs of tech-savvy consumers. The ability to provide seamless and secure transactions through contactless technology further boosts the attractiveness of metal cards in the market.

Regionally, North America and Europe are expected to dominate the metal card market, driven by the presence of leading financial institutions and a high demand for luxury payment solutions. North America, in particular, is anticipated to maintain a significant market share due to the widespread adoption of advanced banking technologies and the strong emphasis on enhancing customer experience. Meanwhile, the Asia Pacific region is projected to witness the fastest growth, fueled by the rising middle-class population and increasing consumer spending in countries like China and India. The Latin America and Middle East & Africa regions are also expected to experience steady growth, albeit at a slower pace, as financial infrastructure continues to develop in these areas.

Card Type Analysis

Within the metal card market, different card types, including credit cards, debit cards, prepaid cards, gift cards, and others, exhibit unique characteristics and demand dynamics. Credit cards have emerged as a predominant segment, largely due to their widespre

The credit card reward app market is experiencing robust growth, projected to reach a market size of $476.2 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 13.9% from 2025 to 2033. This expansion is driven by several factors. Increasing consumer adoption of credit cards, coupled with a growing preference for digital financial management tools, fuels demand for apps that streamline reward tracking and optimization. Furthermore, the rise of sophisticated reward programs offered by financial institutions and retailers creates a complex landscape that necessitates user-friendly reward management solutions. The market is segmented by operating system (Android and iOS) and application type (personal and enterprise). The presence of numerous established players like Mint, Chase Ultimate Rewards, and Bank of America alongside innovative startups like AwardWallet and Point.me underscores the market's competitiveness and its potential for further innovation. The geographic distribution shows strong presence across North America and Europe, with growth opportunities in Asia Pacific and other developing regions. The increasing integration of these apps with wearables and other smart devices further enhances user experience and adoption. Strategic partnerships between credit card issuers and app developers are also driving market expansion. The competitive landscape indicates a mix of established financial institutions leveraging their existing customer base and agile technology companies focusing on advanced features and intuitive interfaces. Future growth will be influenced by factors such as advancements in artificial intelligence (AI) for personalized reward recommendations, integration with open banking APIs for enhanced data aggregation, and the ongoing development of loyalty programs. Challenges include data security and privacy concerns, as well as the need for apps to remain compatible with constantly evolving credit card programs and reward structures. The market's continued success hinges on developers' ability to adapt to evolving consumer needs and technological advancements while maintaining robust security measures to protect sensitive financial data. The continued rise of subscription-based models for premium features will further fuel revenue growth.

Mastercard's market share in Brazil increased by one percentage point between 2022 and 2023, whilst Visa's market share also increased. The two card brands are responsible for eight out of 10 card payments in either an offline or online environment in the South American country. Domestic scheme Elo from São Paulo did become more popular as time went by - coinciding with a general increase of both debit cards as well as credit cards in Brazilian POS payments.

The market share of local card scheme EFTPOS continued to decline in favor of Visa. This according to research held over the years within New Zealand. Australia's EFTPOS was a noticeable entry, as it is both from the Oceania region and a brand that loses terrain to other international brands. This may stem from a growing use of credit cards in New Zealand POS, whilst debit card payments - which is what EFTPOS is aiming towards - declined.