Global Credit Card Payments Market Overview
According to SPER Market Research, the Global Credit Card Payments Market is estimated to reach USD 412.41 billion by 2033 with a CAGR of 8.76%.
The system and infrastructure that enable people to use their credit cards for purchases are referred to as the credit card payments market. With a credit card, a person can borrow money from a bank or other financial institution in order to make purchases. When a client calls their credit card to make a purchase, the transaction is brought out through a network of banks, payment processors, and other financial institutions that cooperate to guarantee the authorization and proper processing of the payment. Millions of transactions are processed daily by the global credit card payments market, which is essential to the modern economy as it enables quick and easy buying of products and services without the use of cash or checks.
Exploring the Growth Drivers of the Global Credit Card Payments Industry
Several growth drivers are expected to contribute to the global credit card payments industry's expansion in the upcoming years. First, the market for credit card payments is expanding as more people adopt cashless payment methods. The demand for credit card payment services is rising as more and more consumers choose to use credit cards instead of cash. Second, as online marketplaces and retailers increasingly rely on credit card payments to facilitate transactions, the growth of the credit card payments market is also being driven by the expansion of e-commerce and online shopping.
What challenges does the Global Credit Card Payments Market face?
Despite its potential for growth, the global credit card payments market faces a number of obstacles. As long as cybercriminals are able to target credit card payment systems and steal sensitive financial information, fraud, and security breaches pose a serious threat to the industry. Another issue is the price of transaction processing, as both consumers and businesses pay fees for each credit card transaction. Small businesses may find these fees to be a significant expense, and some customers may decide to completely avoid using credit cards in order to save money.
In what ways has the COVID-19 pandemic affected Global Credit Card Payments System, Market?
The market and system for credit card payments worldwide have been significantly impacted by the COVID-19 pandemic. First off, as customers and businesses sought to minimize physical contact and lower the risk of virus transmission, the pandemic has accelerated the shift towards cashless payment systems, including credit card payments. Credit card transactions have increased significantly as a result, especially for online shopping and food delivery services. Second, the pandemic has also caused changes in consumer spending patterns, with a move away from discretionary spending on travel and entertainment and towards essential goods and services like groceries and healthcare. A significant decline in business for merchants in the travel and entertainment sectors has had an impact on the market for credit card payments.
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 Card Type, By Application, By Provider
|
| Regions covered | North America, Europe, Asia Specific, Middle East and Africa, Latin America
|
| Companies Covered | American Express, Bank of America Corporation, Barclays PLC, Capital One, Citigroup Inc., JPMorgan Chase & Co, MasterCard, Synchrony, The PNC Financial Services Group, Inc., USAA
|
Key Target Audience:
- Financial Institutions
- E-Commerce Industry
- Merchants
- Supermarkets and Malls
Global Credit Card Payments Market Segmentation:
1. By Card Type:
- Global Credit Card Payments Market Value Share and Forecast, By Card Type, 2023-2033
- General Purpose Credit Cards
- Specialty & Other Credit Cards
2. By Application:
- Global Credit Card Payments Market Value Share and Forecast, By Application, 2023-2033
- Food & Groceries
- Health & Pharmacy
- Restaurants & Bars
- Consumer Electronics
- Media & Entertainment
- Travel & Tourism
- Others
3. By Provider:
- Global Credit Card Payments Market Value Share and Forecast, By Provider, 2023-2033
- Visa
- MasterCard
- Others
4. By Region:
- North America
- Europe
- Asia Specific
- Middle East
- Africa
- Latin America
Key Topics Covered in the Report:
- Global Credit Card Payments Market Size (FY’2023-FY’2033)
- Overview of Global Credit Card Payments Market
- Segmentation of Global Credit Card Payments Market By Card Type (General Purpose Credit Cards and Specialty & Other Credit Cards)
- Segmentation of Global Credit Card Payments Market By Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, Travel & Tourism and Others)
- Segmentation of Global Credit Card Payments Market By Provider (Visa, MasterCard, and Others)
- Statistical Snap of Global Credit Card Payments Market
- Growth Analysis of Global Air Credit Card Payments Market
- Problems and Challenges in Global Credit Card Payments Market
- Competitive Landscape in the Global Credit Card Payments Market
- Impact of COVID-19 and Demonetization on Global Credit Card Payments Market
- Details on Recent Investment in Global Air Quality Monitoring System Market
- Competitive Analysis of Global Credit Card Payments Market
- Key Players in the Global Credit Card Payments Market
- SWOT Analysis of Global Credit Card Payments Market
- Global Credit Card Payments 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 Payments 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 Payments Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Credit Card Payments Market
7. Global Credit Card Payments Market, By Card Type (USD Million)
7.1. Global Credit Card Payments Market Value Share and Forecast, By Card Type, 2023-2033
7.2. General Purpose Credit Cards
7.3. Specialty & Other Credit Cards
8. Global Credit Card Payments Market, By Application (USD Million)
8.1. Global Credit Card Payments Market Value Share and Forecast, By Application, 2023-2033
8.2. Food & Groceries
8.3. Health & Pharmacy
8.4. Restaurants & Bars
8.5. Consumer Electronics
8.6. Media & Entertainment
8.7. Travel & Tourism
8.8. Others
9. Global Credit Card Payments Market, By Provider (USD Million)
9.1. Global Credit Card Payments Market Value Share and Forecast, By Provider, 2023-2033
9.2. Visa
9.3. MasterCard
9.4. Others
10. Global Credit Card Payments Market Forecast, 2019-2033 (USD Million)
10.1. Global Credit Card Payments Market Size and Market Share
11. Global Credit Card Payments Market, By Card Type, 2019-2033 (USD Million)
11.1. Global Credit Card Payments Market Size and Market Share by Card Type (2019-2026)
11.2. Global Credit Card Payments Market Size and Market Share by Card Type (2027-2033)
12. Global Credit Card Payments Market, By Application, 2019-2033 (USD Million)
12.1. Global Credit Card Payments Market Size and Market Share by Application (2019-2026)
12.2. Global Credit Card Payments Market Size and Market Share by Application (2027-2033)
13. Global Credit Card Payments Market, By Provider, 2019-2033 (USD Million)
13.1. Global Credit Card Payments Market Size and Market Share by Provider (2019-2026)
13.2. Global Credit Card Payments Market Size and Market Share by Provider (2027-2033)
14. Global Credit Card Payments Market, By Region, 2019-2033 (USD Million)
14.1. Global Credit Card Payments Market Size and Market Share by Region (2019-2026)
14.2. Global Credit Card Payments 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. Singapore
14.3.6. South Korea
14.3.7. 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
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. American Express
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Bank of America Corporation
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Barclays PLC
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Capital One
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Citigroup Inc.
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. JPMorgan Chase & Co
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. MasterCard
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Synchrony
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. The PNC Financial Services Group, Inc.
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. USAA
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
16. Conclusion
17. Research Scope
18. List of Abbreviations
19. Reference Links
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.
