Credit Card Issuance Services Market Introduction and Overview
According to SPER Market Research, the Global Credit Card Issuance Services Market is estimated to reach USD 1,119.09 billion by 2033 with a CAGR of 8.41%.
The report includes an in-depth analysis of the Global Credit Card Issuance Services Market, including market size and trends, product mix, distribution channels, and supplier analysis. A credit card is a card provided by a financial institution, usually a bank, that allows the cardholder to borrow money from the institution. The cardholder agrees to repay the borrowed funds with interest, as per the terms and conditions set by the institution. After the credit provider, which may or may not be the same organisation as the card issuer, has approved the customer's account, the credit card issuer issues credit cards to the consumer. With the credit card in hand, cardholders can make purchases at merchants that accept the specific card. Essentially, a credit card serves as a payment tool, allowing cardholders to settle their accumulated debt with the merchant for the goods and services they have purchased. Due to its secure features for transferring payments between accounts, credit cards have gained popularity among users, leading to an increasing demand for these cards.
- Buy Now, Pay Later (BNPL): The Credit Card Issuance Services Market is experiencing the emergence of Buy Now, Pay Later (BNPL) cards, which are gaining popularity due to their ability to issue cards without relying on credit scores. As a result, BNPL cards are gaining more traction compared to traditional credit cards, and this trend is expected to propel the growth of the Credit Card Issuance Services Industry.
- Issuers enabling users to safeguard their data: In the Credit Card Issuance Services Industry, there is a growing trend of issuers offering consumers the option to safeguard their data. Companies like Privacy.com enable users to create virtual credit cards, effectively concealing their personal information from merchants and data brokers. As data security concerns have been a significant issue in digital card payment methods for a long time, issuers that provide assurance of data safety are gaining popularity, further driving the market's expansion.
Market Opportunities and Challenges
- Opportunities:
- Increasing use of contactless and digital credit cards: Contactless payment's key benefit is its speed, enhancing consumer experience by eliminating line-ups. Despite no cost advantage, customers prefer its convenience, and services like Apple Pay drive the market using smartphones.
- A rise in the need for alternatives to cash and the availability of affordable credit cards: Credit card demand grows due to convenience and as a cash alternative, further accelerated by COVID-19. Companies promote daily usage, e.g., MasterCard's tap-and-go initiatives. Digital-first cards, like Apple card, gain popularity with mobile rewards.
- Challenges:
- Global increase in credit card fraud: Credit card fraud, the leading form of identity theft, has surged during the COVID-19 pandemic. Phishing attacks make scams harder to detect, hindering market growth. Additionally, rising payment app scams in e-commerce further limit the credit card issuance services market outlook.
- It is challenging for banks to cross-sell insurance products: The bank staff faces immense pressure to provide banking services while selling insurance policies to the same customers. This can lead to confusion and bad customer service, hindering credit card issuance services market growth.
Market Competitive Landscape
The key players in the Global Credit Card Issuance Services Market include American Express Company, Entrust Corporation, fis, Fiserv, Inc., Giesecke+Devrient GmbH, GPUK LLP, Marqeta, Inc., Nium Pte Ltd., Stripe, Inc., Thales, Others. These players have employed diverse tactics to expand their market presence and enhance their position in the credit card issuance services market. Also, Fiserv's acquisition of NetPay aimed to boost payment facilitation capabilities and expand the merchant business through this strategic move.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Issuers, By End User
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| Regions covered | Asia Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | American Express Company, Entrust Corporation, fis, Fiserv, Inc., Giesecke+Devrient GmbH, GPUK LLP, Marqeta, Inc., Nium Pte. Ltd., Stripe, Inc., Thales, Others
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COVID-19 Impact on Global Credit Card Issuance Services Market
The credit card issuance services market suffered a downturn due to COVID-19. Lockdowns in many countries, payment delays, job losses, and reduced borrowing led to individuals focusing on debt repayment instead of taking new credit. These challenges were widespread due to global government-imposed lockdowns and job losses.
Key Target Audience
- Affluent Customers
- Balance Transfer Seekers
- Credit Builders and Rebuilders
- Digital Natives and Tech-Savvy Users
- Frequent Travelers
- Individual Consumers
- Online Shoppers
- Rewards and Points Enthusiasts
- Small Business Owners
- Students
- Others
Our in-depth analysis of the Credit Card Issuance Services Market includes the following segments:
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By Type:
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Business Credit Cards
Consumer Credit Cards
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By Issuers:
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Banks
Credit Unions
NBFCs
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By End User:
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Business
Personal
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Key Topics Covered in the Report
- Global Credit Card Issuance Services Market Size (FY’2023-FY’2033)
- Overview of Global Credit Card Issuance Services Market
- Segmentation of Global Credit Card Issuance Services Market By Type (Business Credit Cards, Consumer Credit Cards)
- Segmentation of Global Credit Card Issuance Services Market By Issuers (Banks, Credit Unions, NBFCs)
- Segmentation of Global Credit Card Issuance Services Market By End User (Business, Personal)
- Statistical Snap of Global Credit Card Issuance Services Market
- Expansion Analysis of Global Credit Card Issuance Services Market
- Problems and Obstacles in Global Credit Card Issuance Services Market
- Competitive Landscape in the Global Credit Card Issuance Services Market
- Impact of COVID-19 and Demonetization on Global Credit Card Issuance Services Market
- Details on Current Investment in Global Credit Card Issuance Services Market
- Competitive Analysis of Global Credit Card Issuance Services Market
- Prominent Players in the Global Credit Card Issuance Services Market
- SWOT Analysis of Global Credit Card Issuance Services Market
- Global Credit Card Issuance Services Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Credit Card Issuance Services Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Credit Card Issuance Services Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Credit Card Issuance Services Market
7. Global Credit Card Issuance Services Market, By Type (USD Million)
7.1. Global Credit Card Issuance Services Market Value Share and Forecast, By Type, 2023-2033
7.2. Business Credit Cards
7.3. Consumer Credit Cards
8. Global Credit Card Issuance Services Market, By Issuers (USD Million)
8.1. Global Credit Card Issuance Services Market Value Share and Forecast, By Issuers, 2023-2033
8.2. Banks
8.3. Credit Unions
8.4. NBFCs
9. Global Credit Card Issuance Services Market, By End User (USD Million)
9.1. Global Credit Card Issuance Services Market Value Share and Forecast, By End User, 2023-2033
9.2. Business
9.3. Personal
10. Global Credit Card Issuance Services Market Forecast, 2019-2033 (USD Million)
10.1. Global Credit Card Issuance Services Market Size and Market Share
11. Global Credit Card Issuance Services Market, By Type, 2019-2033 (USD Million)
11.1. Global Credit Card Issuance Services Market Size and Market Share By Type (2019-2026)
11.2. Global Credit Card Issuance Services Market Size and Market Share By Type (2027-2033)
12. Global Credit Card Issuance Services Market, By Issuers, 2019-2033 (USD Million)
12.1. Global Credit Card Issuance Services Market Size and Market Share By Issuers (2019-2026)
12.2. Global Credit Card Issuance Services Market Size and Market Share By Issuers (2027-2033)
13. Global Credit Card Issuance Services Market, By End User, 2019-2033 (USD Million)
13.1. Global Credit Card Issuance Services Market Size and Market Share By End User (2019-2026)
13.2. Global Credit Card Issuance Services Market Size and Market Share By End User (2027-2033)
14. Global Credit Card Issuance Services Market, By Region, 2019-2033 (USD Million)
14.1. Global Credit Card Issuance Services Market Size and Market Share By Region (2019-2026)
14.2. Global Credit Card Issuance Services Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7 est of Latin America
15. Company Profile
15.1. American Express Company
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Entrust Corporation.
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. fis
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Fiserv, Inc.
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Giesecke+Devrient GmbH
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. GPUK LLP.
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Marqeta, Inc.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Nium Pte. Ltd.
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Stripe, Inc.
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Thales
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
