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.

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.

In 2021, the share of the adult population in European countries varied between eight percent in Albania to as high as ** percent in Norway. Using a credit card allows the cardholder to pay for goods and services with the agreed promise to the card issuer that they will repay the amount borrowed either in installments or as a single payment. In Europe, the credit card is a less popular payment choice as compared to the debit card. Two horse race In Europe, there are two main credit card providers. Between Visa and Mastercard they make up over 90 percent of the purchase volume market share across Europe. In total, there are over *** million payment cards across the continent. Credit card transaction value When it comes to usage, there is one European country that is far more excepting of getting out the credit card. In 2017, the United Kingdom saw well over 190 billion euros in credit card transactions. This was more than *** time the amount spent in France.

The credit card market in the CEE region has seen growth over time, when together with its accelerating relationship with Western Europe, the demand for a variety of financial services on the market has also increased. The payment cards sector has been among the first to grow, but the dynamic of that growth was different in different countries. For many markets listed, the regulatory and financial support afforded by the European Union membership provided strong potential for sustained credit card market growth. For example, for Czechia, the penetration of credit cards was ** percent in 2019. However, a relatively high penetration (in the context of the region) was also observed in two of the non-EU economies of the region: Russia and Ukraine.

Credit card ownership in Europe

In 2017, the share of the adult population in European countries with a credit card varied between eight percent in Albania to as high as ** percent in Norway. Using a credit card allows the cardholder to pay for goods and services with the agreed promise to the card issuer that they will repay the amount borrowed either in installments or as a single payment. In Europe, the main form of electronic payment is using a debit card.

Card payments in Europe

In Europe, the rise in payment cards has continued to go from strength to strength. As of 2018 (excluding the UK), the number of card payments in Europe was almost 55 billion. 2016 saw the highest annual increase in card payments in Europe.

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Fuel Cards Market Size 2024-2028

The fuel cards market size is forecast to increase by USD 2.98 billion at a CAGR of 6.36% between 2023 and 2028.

The market is experiencing significant growth, driven by the rising penetration of digitalization in various sectors. This trend is transforming the way businesses manage their fuel expenses, offering real-time transaction monitoring, automated reporting, and improved fleet management. Strategic alliances and acquisitions are also shaping the market, with key players seeking to expand their reach and offer comprehensive solutions. However, challenges persist, including the lack of awareness and infrastructure in certain regions, which hampers market penetration. Despite these hurdles, the market is poised for continued expansion, fueled by technological advancements and the increasing demand for efficient fuel management solutions.

What will the size of the market be during the forecast period?

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The market is a significant segment in the transportation industry, enabling efficient fuel payments and expense management for both commercial fleets and individuals. Fuel cards facilitate digital transactions at certified gas stations, providing a mobile, frictionless experience for cardholders. Advanced payment methods like smart cards and standard cards offer added security features and streamlined vehicle service, parking, toll charge, and fuel rewards. Fuel retailers benefit from fuel card partnerships, expanding their customer base and enhancing the shopping experience through Platinum Status programs and Fuel Rewards. Card issuers leverage data capture and telematics integration to optimize fleet management and expense management.
Environmental initiatives are also gaining importance, with many fuel card providers promoting eco-friendly practices and incentives for the use of alternative fuels. Fuel cards cater to various sectors, including commercial fleets and individuals, helping manage fuel-related expenses and additional expenses. Shell Oil Products and other major players in the oil industry issue fuel cards, offering financial services tailored to their customers' needs. The future of the market lies in continued innovation, focusing on advanced payment methods, data security, and environmental sustainability.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Branded
  Universal
  Merchant


Geography

  Europe

    Germany
    UK


  North America

    US


  APAC

    China
    India


  Middle East and Africa



  South America

By Type Insights

The branded segment is estimated to witness significant growth during the forecast period.

Branded fuel cards, issued by fuel station brands such as Exxon Mobil Corporation, BP plc, and Sunoco LP, are increasingly preferred by small businesses with brand loyalty or a strong presence in specific regions. These cards offer several benefits, including purchase bonuses, online access to reporting and transaction controls, and introductory annual percentage rates (APR) or low fees. These advantages contribute to the growth of the branded fuel cards segment. Digital transaction solutions have revolutionized fuel consumption management, enabling real-time car mileage tracking, route efficiency, and breakdown prevention for fleet operators and trucking companies. E-commerce activities, delivery services, and logistics have further fueled the demand for digital fuel cards.

Additionally, digital transformation in the fuel card market has led to the adoption of security measures, data analytics, and reporting to mitigate fraud and misuse. Eco-friendly initiatives, such as fuel incentives, fuel tax, and fuel subsidies, are also driving the market's growth. Digital fuel cards can be integrated with infotainment systems, enabling seamless transactions and vehicle location tracking. Prepaid cards offer cost savings and control over fuel consumption. Amazon, Mastercard, ToneTag, Fastag, and other digital payment providers are entering the fuel card market, offering advanced features like contactless payments, mobile wallet integration, and real-time transaction processing. Fleet drivers and truck maintenance and repair services can benefit from these offerings, as they can easily manage fuel expenses, vehicle parts, and tax information.

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The branded segment was valued at USD 3.33 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 39% to the growth of the global market during the forecast period.

Debit card use in Irish stores stayed relatively the same during the COVID-19 pandemic, whilst the share of cash declined fast. Indeed, when combining the market shares of both debit cards and credit cards, cards accounted for over half of money spent in POS. The use of credit cards, especially, changed significantly since 2020. Visa was the largest card issuer in Ireland and the UK, with market shares of over ** percent in both countries. This is different from other countries, as the preferred card brand varied across multiple countries in the European continent.

For several years in a row, Russia’s Sberbank increasingly solidified its position as Europe’s largest merchant acquirer – processing more payments than the likes of Worldpay or Adyen. This might be attributed to the large popularity of their own Sberbank Online in Russian e-commerce – this being a service Russia’s biggest bank offers to its clients on the country’s biggest online shopping platform, OZON.ru and with which customers can select the card they wish to pay with. Coinciding with Sberbank Online, the Russian bank also saw a significant growth of its online banking user base – increasing by roughly ** percent between 2020 and 2019 alone. This makes Sberbank – a bank that offers and processes its own payment method that is used rather often – different from, say, Adyen – a publicly listed company that offers companies many payment processing solutions. What are merchant acquirers? Several things happen the moment a consumer digitally wants to buy something, which may sound complicated at first. Say somebody bought clothes online and paid for it with a Visa credit card. First, the transaction is handled by a payment processor or gateway – which authenticates the transfer and effectively sends a signal that money needs to change hands. The issuer – Visa, or the bank that issued the Visa card – receives that signal. Second, the issuer verifies the transaction and makes sure the customer has money to make the purchase. Thirdly, a signal is sent back from issuer to processor to either confirm or block the transfer. Note that until now, no money moved yet – just data. Here, at last, is where the acquirer comes in. A merchant acquirer looks at this final piece of data and handles the actual money transfer, essentially “grabbing” the money from one place – Visa, in this example – to then place it somewhere else - the merchant’s bank account. To name an example of such an acquirer, Worldline handles nearly all payment transactions in Belgium. However, as it owns about ** percent of equensWorldline – originally a payment processor – the lines between processing and acquiring blur as the need for digital payments increased worldwide. Fintech entering the payments world: Adyen A fintech unicorn from the Netherlands that specializes in payments processing and acquiring, Adyen’s revenue grew by almost ** percent in 2020. The Amsterdam fintech Adyen aims itself at domestic, mid-market companies as well as global merchants like Spotify. The company then tries to connect these merchants with multiple payment methods from Visa to Alipay and currencies via a single system. The figures shown above estimate the Amsterdam fintech had slightly more than **** billion purchase transactions in 2020 – a figure that was only slightly higher than the last figure Adyen communicated on how many transactions it had processed.