UnionPay's global market share grew faster than that of MasterCard, whilst Visa's worldwide market position declined. This does not imply that Visa's transaction volume worldwide declined: It increased by roughly ** billion purchases between 2021 and 2022. Compared to the number of transactions from UnionPay and MasterCard, however, Visa's transactions did not increase as much - leading to a declining market share.

Global Credit Card Issuance Services market size is expected to reach $785.37 billion by 2029 at 8.6%, surging credit card demand fuels expansion growth trends in the credit card issuance services market

The Credit Cards Market is Segmented by Application (Food and Groceries, Health and Pharmacy, and More), by Card Type (General Purpose Credit Cards, Specialty and Other Credit Cards), by Card Format (Physical, Digital), by Provider (Visa, Mastercard, Other Providers) and by Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and More). The Market Forecasts are Provided in Terms of Value (USD).

The use of credit cards varied significantly within Europe, with Poland or Germany barely using them whilst their market share was over ** percent in France. This is somewhat at odds with figures on credit card penetration in the world. The United Kingdom, for example, ranks as one of the top countries worldwide in terms of credit card ownership, and also ranks high in this particular overview. France, however, had a significantly lower credit card penetration, but outranks the UK in terms of market share for credit cards. This may be a consequence of the different card schemes that exist within Europe's payment landscape. France has a domestic scheme - unique to that country alone - that is co-branded with Visa, enabling both credit card and debit card payments.

Visa's U.S. market share increased during the coronavirus pandemic, mostly as Americans used more debit cards. This is according to estimates based on the transaction volume of general purpose credit and debit cards issued in the United States. Visa's market share strengthened as time went by, moving from a roughly ** percent market share in 2007 to more than ** percent by 2022. This is likely because of the growing use of debit cards in the U.S. — causing the market share of American Express to decline. Debit cards grow faster than credit cards in the U.S. The number of cards issued by Visa reveals a growth disparity between their debit cards and their credit cards. The number of Visa issued debit cards in circulation in the U.S. in Q2 2023 had increased by *** percent when compared to the same period in the previous year. This growth figure was *** percent for U.S. Visa issued credit cards during the same period. By the second quarter, the United States had over *** million debit cards from Visa against roughly *** million Visa credit cards. Who uses debit cards in the United States? A three-year survey stated more than ***** out of 10 respondents from the United States owned a debit card in 2021, with only ** percent actually having used one. Women were much more likely than men to own such a payment card. Gen Z — or the age group 15 to 24 years in this survey — was less likely to own a debit card than their older counterparts, although their ownership of debit cards was much higher when compared to Gen Z credit card ownership.

Global Credit Card market size is expected to reach $930.03 billion by 2029 at 8.9%, rising demand for credit cards propels growth in the credit card market

The number of payment cards in circulation worldwide grew by nearly *********** between 2022 and 2023, and is forecast to increase further. The source adds that some of the largest brands on cards issued across the world include UnionPay, Visa, and MasterCard. Roughly *** billion purchase transactions were made using Visa in 2020 — an increase of *** percent. The figures provided concern credit, debit, and prepaid cards that are issued either as general purpose or via private label. Which card scheme is the biggest? In terms of individual card schemes, China's UnionPay is expected to have more cards in circulation than either Visa or Mastercard by 2027. UnionPay is especially prevalent in the Asia-Pacific. Domestic card schemes — which take up a significant market share in Europe — are also projected to increase between 2022 and 2027. Note also that private label cards, which include retail branded cards or fuel cards, have a similar market size to UnionPay. By 2017, private label issued cards are expected to make up roughly ** percent of total cards in circulation. When looking at the largest cards schemes based on the global number of transactions processed, Visa's market share in 2022 was over ** percent against ** percent for UnionPay. Cards to face increasing competition from alternative payments Payment cards are expected to remain the biggest digital payment method in both an offline and online environment. Alternative payment methods are expected to reach a higher CAGR than transactions with cards, however. This CAGR growth between 2022 and 2027 is highest for e-commerce: The transaction value of alternative payments in online shopping is to increase with a CAGR of **** percent between 2022 and 2027. This compared to *** percent for card not present transactions. Alternative payment methods — or APMs, as the source calls them — can be any form of noncash payment that does not involve a credit or debit card. This can include mobile wallets but also buy now, pay later, or payments performed with cryptocurrency or stablecoins.

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

Global Credit Card Market is anticipated to project robust growth in the forecast period with a CAGR of 7.68% through 2028.

Physical credit cards remained popular especially in Canada, making up roughly **** of total transactions paid for in stores in 2024. Canada and the United States both rank relatively high when it comes to credit card penetration in the world. This comes back in figures on what payment methods merchants offer. Canadian e-commerce vendors largely offered credit cards over newer payment methods, such as Apple Pay or buy now, pay later (BNPL). Mexico stands out in this overview as the source did not place the country under the region of North America - instead, it put it under Latin America. Compared to Canada and the United States, however, Mexico used credit cards far less often for in-store payments.

Global Credit Card market size 2021 was recorded $432.68 Billion whereas by the end of 2025 it will reach $580.2 Billion. According to the author, by 2033 Credit Card market size will become $1043.28. Credit Card market will be growing at a CAGR of 7.61% during 2025 to 2033.

Business Credit Cards Market Outlook

The global business credit cards market size was valued at approximately USD 1.5 trillion in 2023 and is projected to reach around USD 2.6 trillion by 2032, reflecting a compound annual growth rate (CAGR) of 6.6% during the forecast period. One key growth factor driving this market is the increasing demand for credit cards among SMEs for better cash flow management and financial flexibility.

The rise in global trade and the expansion of multinational corporations significantly contribute to the growth of the business credit cards market. Companies are increasingly seeking ways to manage their finances efficiently, and business credit cards offer a range of benefits, such as expense tracking, rewards programs, and improved cash flow management. Additionally, technological advancements, including the adoption of AI and machine learning in credit risk assessment, are making it easier for financial institutions to offer business credit cards to a broader customer base, thereby propelling market growth.

Another significant growth driver is the increasing inclination of businesses towards digital payments. This shift is not only driven by the convenience and security offered by credit cards but also by various regulatory measures promoting cashless transactions. With the global push towards digitalization, businesses of all sizes are adopting business credit cards for their routine transactions, further fueling the market. Moreover, the COVID-19 pandemic has accelerated the digital payment trend, as businesses look to reduce physical contact and streamline their payment processes.

The competitive landscape is also playing a pivotal role in the market's expansion. Financial institutions and fintech companies are continually innovating to offer customized business credit card solutions. These innovations include enhanced security features, reward programs tailored to business needs, and integration with accounting software. Such offerings are attracting a wide range of enterprises, from small start-ups to large corporations, thus driving the market's growth.

Credit Cards have become an indispensable tool for businesses of all sizes, offering not just a means of payment but also a strategic financial instrument. They provide businesses with the flexibility to manage cash flow efficiently, allowing for the deferment of payments and the ability to make large purchases without immediate cash outflow. This is particularly beneficial for small and medium enterprises (SMEs) that often face cash flow challenges. Furthermore, credit cards offer detailed expense tracking and reporting, enabling businesses to monitor their spending patterns and make informed financial decisions. The integration of credit cards with accounting software further simplifies financial management, making them an attractive option for businesses looking to streamline their operations.

Regionally, North America holds a significant share of the business credit cards market, attributed to the high adoption rate of digital payment solutions and the presence of major market players. Europe is also witnessing substantial growth, driven by the increasing number of SMEs and the flourishing e-commerce sector. The Asia Pacific region is expected to register the highest CAGR, owing to rapid economic growth and digitalization efforts in countries like China and India.

Card Type Analysis

The business credit cards market is segmented by card type, including travel credit cards, cashback credit cards, low-interest credit cards, balance transfer credit cards, and others. Travel credit cards are particularly popular among businesses with frequent travel requirements. These cards offer benefits such as travel insurance, airport lounge access, and reward points on travel expenditures, making them a preferred choice for corporate travelers. The growth of the global travel and tourism industry further enhances the demand for travel credit cards.

Cashback credit cards are gaining traction due to their straightforward value proposition. Businesses can earn a percentage of their expenditures back as cash, which can be reinvested into the business or used to offset future expenses. This type of card is especially appealing to small and medium enterprises (SMEs) that are keen on maximizing their savings. The simplicity and immediate benefits of cashback cards make them a widely adopted choice among various business segments.

Global Crypto Credit Card market size is expected to reach $3.55 billion by 2029 at 18.4%, segmented as by type, regular crypto credit cards, rewards crypto credit cards, other types

Commercial Card Market Outlook

The global commercial card market size was valued at approximately $1.2 trillion in 2023 and is projected to reach around $2.7 trillion by 2032, growing at a CAGR of 9.2% over the forecast period. This robust growth can be attributed to factors such as the increasing digitization of financial services, the need for more efficient expense management solutions, and the expansion of global trade activities.

A primary growth factor driving the commercial card market is the rising adoption of digital payment solutions by businesses of all sizes. With the proliferation of e-commerce and online transactions, companies are increasingly recognizing the benefits of using commercial cards to streamline their payment processes. These cards offer real-time transaction tracking, enhanced security features, and the ability to integrate with various financial management software, making them an attractive option for modern businesses.

Another significant factor contributing to market growth is the growing emphasis on cost reduction and operational efficiency. Commercial cards provide businesses with a reliable tool for managing expenses, reducing the need for manual processing of invoices and reimbursements. This not only cuts down on administrative costs but also minimizes the risk of errors and fraud. Furthermore, commercial cards often come with rewards and cashback programs, allowing businesses to earn incentives while managing their spending.

The increasing globalization of businesses has also fueled the demand for commercial cards. As companies expand their operations across borders, the need for efficient and secure payment solutions becomes paramount. Commercial cards facilitate international transactions by providing a standardized payment method that is widely accepted across the globe. This ease of use and convenience is particularly beneficial for businesses with frequent travel and entertainment expenses, further driving the adoption of commercial cards.

From a regional perspective, North America dominates the commercial card market, holding the largest market share. This can be attributed to the high adoption rate of digital payment solutions, a well-established financial infrastructure, and the presence of leading market players in the region. However, Asia Pacific is expected to witness the fastest growth during the forecast period, driven by rapid economic development, increasing business travel, and the rising penetration of digital payment technologies in countries like China and India.

Product Type Analysis

The commercial card market is segmented by product type into corporate cards, purchasing cards, travel and entertainment cards, fuel cards, and others. Each of these card types serves a unique purpose and caters to different business needs, contributing to the overall growth and diversity of the market.

Corporate cards are widely used by businesses to manage general expenses and are often issued to employees for various business-related purchases. These cards offer several advantages, including detailed transaction reporting, spending controls, and the ability to set limits on individual card usage. The convenience and control provided by corporate cards make them a popular choice among businesses looking to streamline expense management.

Purchasing cards, on the other hand, are specifically designed for procurement purposes. They are used to pay for goods and services directly and are often integrated with procurement systems to facilitate seamless transactions. Purchasing cards help businesses reduce paperwork, improve transaction efficiency, and enhance supplier relationships. The growing focus on supply chain optimization and cost management is driving the adoption of purchasing cards in various industries.

Travel and entertainment (T&E) cards are used to cover expenses related to business travel and entertainment activities. These cards offer features such as travel insurance, loyalty programs, and access to airport lounges, making them an attractive option for companies with frequent travel requirements. The rise in global business travel and the increasing need for efficient expense management solutions are key factors driving the demand for T&E cards.

Fuel cards are another important segment in the commercial card market. These cards are used to manage fuel expenses and are often issued to employees who drive company vehicles. Fuel cards offer benefits such as fuel discounts, detailed tr

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 ** percent. Mastercard, on the other hand, held market shares of ** percent and ** 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 ** billion transactions in 2019. Nearly ** percent of all these transactions were done with Visa general purpose cards, while MasterCard made up for ** 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 *** trillion of the ***** 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 ** percent, whereas Visa and MasterCard each made up around ** and ** percent of the market. Italy, on the other hand, was more divided. Bancomat cards made up ** percent of transactions, whereas MasterCard and Visa each held a market share of approximately ** and ** percent. Market shares for either Visa or MasterCard are not readily available in France as the term “bank card” or carte bancaires (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 Rewards-based Credit Card market has evolved significantly over the past few decades, emerging as a dynamic segment within the broader financial services industry. With a growing consumer preference for value-added benefits, these credit cards offer an enticing array of rewards, from cash back and travel points

The size of the Credit Cards Market was valued at USD 14.31 Million in 2023 and is projected to reach USD 18.42 Million by 2032, with an expected CAGR of 3.67% during the forecast period. A credit card is a payment card issued by financial institutions that allows cardholders to borrow funds to pay for goods and services. It operates on a system of revolving credit, where users are given a credit limit up to which they can borrow. The borrowed amount, known as the balance, must be repaid either in full by a specified due date or over time, with interest charged on the outstanding balance if not paid in full. Credit cards are widely accepted globally and provide convenience for both online and in-store purchases. When a person uses a credit card, the issuer (typically a bank) pays the merchant on behalf of the cardholder. The cardholder then repays the issuer, either immediately without interest or over time with added interest, depending on the card’s terms. Credit cards often come with various rewards and benefits, such as cashback, travel miles, or points that can be redeemed for products or services. They also offer consumer protections like fraud detection and chargeback options in case of disputes with merchants. Recent developments include: May 2023: Singapore's DBS Bank looks to complete its retail product offering by adding a super-premium credit card as soon as this week as it seeks to consolidate its position two-and-a-half years after acquiring Lakshmi Vilas Bank (LVB)., May 2023: NPCI leans on bank partnerships to push RuPay credit cards.. Key drivers for this market are: Usage of Credit Card give the bonus and reward points. Potential restraints include: Interest rates on Credit Card. Notable trends are: Increasing Number of Visa Credit Cards Internationally.

The global credit card network market is a mature yet dynamic industry, exhibiting steady growth fueled by increasing e-commerce adoption, expanding global digitalization, and the rising prevalence of cashless transactions. The market, encompassing major players like Visa, Mastercard, American Express, Discover, Diners Club International, JCB, and UnionPay, is projected to maintain a healthy Compound Annual Growth Rate (CAGR) – let's conservatively estimate this at 7% – between 2025 and 2033. This growth is driven by several factors including the continuous expansion of financial inclusion in emerging economies, the increasing sophistication of payment technologies (such as mobile wallets and contactless payments), and the growing preference for credit cards as a convenient and secure payment method among consumers globally. Technological advancements in fraud prevention and security measures further bolster consumer confidence and market expansion. While the market enjoys substantial growth potential, challenges such as stringent regulatory compliance, the ongoing threat of cybercrime and data breaches, and competition from alternative payment methods like Buy Now Pay Later (BNPL) services pose potential restraints on market growth. The industry is further segmented geographically, with North America and Europe currently holding significant market share, but emerging markets in Asia-Pacific and Latin America showing significant growth potential. Regional variations in market penetration and regulatory landscapes contribute to the diverse growth dynamics across different regions. The competitive landscape is characterized by intense rivalry among established players, who are constantly innovating and expanding their product and service offerings to maintain a competitive edge. This includes strategic partnerships, mergers and acquisitions, and investments in cutting-edge technologies to enhance security and improve customer experience. The future of the credit card network market hinges on the industry’s ability to effectively navigate evolving consumer preferences, technological advancements, and regulatory changes. A focus on secure and seamless payment experiences, personalized services, and responsible lending practices will be crucial for maintaining sustainable growth and building trust with consumers in the years to come. Furthermore, adaptation to emerging technologies like blockchain and cryptocurrency will be key for long-term competitiveness.

The global credit card market is experiencing steady growth, projected to reach a value of $14.31 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 3.67% from 2019 to 2033. This growth is fueled by several key factors. The increasing adoption of digital payment methods, coupled with rising e-commerce transactions and a growing global middle class with increased disposable income, are major drivers. Furthermore, innovations in credit card technology, such as contactless payments and enhanced security features, are boosting consumer confidence and driving market expansion. The competitive landscape is characterized by a mix of large multinational banks like Bank of America Merrill Lynch, JP Morgan Chase, and Banco Itau, alongside regional players such as Bank of East Asia and Hang Seng Bank. These institutions are constantly striving for market share through competitive interest rates, rewards programs, and targeted marketing campaigns. While regulatory changes and potential economic downturns pose potential restraints, the overall outlook for the credit card market remains positive, driven by ongoing technological advancements and evolving consumer preferences. The market segmentation, while not explicitly detailed, is likely diverse, encompassing different card types (e.g., premium, standard, co-branded), payment networks (Visa, Mastercard, American Express, Discover), and customer demographics (age, income, location). The regional breakdown is also crucial for understanding market dynamics, with certain regions expected to exhibit higher growth rates than others due to factors such as economic development, financial inclusion initiatives, and technological penetration. Further research into specific regional data would help to refine this analysis and identify key growth opportunities for stakeholders. Continued monitoring of macroeconomic indicators and evolving consumer behavior will be vital for accurate forecasting and strategic decision-making within the credit card market. Key drivers for this market are: Usage of Credit Card give the bonus and reward points. Potential restraints include: Interest rates on Credit Card. Notable trends are: Increasing Number of Visa Credit Cards Internationally.