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Commercial Credit Cards: North America Market Review and Forecast, 2018-2024

  • ID: 5136428
  • Report
  • August 2020
  • Region: North America
  • 17 Pages
  • Mercator Advisory Group

FEATURED COMPANIES

  • American Express
  • Coupa
  • Diners Club
  • Mastercard
  • R3
  • The Conference Board
  • MORE

The commercial credit card market for mid-to large corporates in North America has been in a generally strong growth mode for the past several years. In North America, the most mature commercial credit card market, recent growth has been primarily boosted by non-travel spend as the industry continues its transition to B2B payables relevancy. As a result, the extended suspension of business travel, although a damaging blow to issuer bottom lines into 2021, will be somewhat offset by subsequent gains in business-to-business payments as companies accelerate digital adoption. The utilization of purchasing cards (P cards) and non-travel virtual cards is more directly tied to broader economic activity, the growing use of electronic payments methods, and replacement of checks and cash in the payables process.

This latest research report, Commercial Credit Cards: North America Market Review and Forecast, 2018-2024, provides a detailed review of the commercial credit card markets in Canada and the United States, including an analysis of how the pandemic impacts spend during 2020-21, as well as recovery expectations through 2024.

“The pre-pandemic growth trajectory was quite good overall in North America, as 2019 virtual card spend exceeded corporate travel card spend for the first time,” commented Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service and author of the report, “so the comeback in spend longer term is going to be more associated with utilization of card rails in payables as the recessionary curve unfolds.”

This report is 17 pages long and has 7 exhibits.

Highlights of the report include:

  • A review of the economic impact that COVID-19 is having in the region
  • Correlation analysis between overall regional credit card spend and the economic downturn through 2021
  • Commercial credit card spending forecasts for Canada and the U.S. through 2024
  • Key industry trends in technology and client expectations
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • American Express
  • Coupa
  • Diners Club
  • Mastercard
  • R3
  • The Conference Board
  • MORE

Executive Summary

Introduction

North America Payments Landscape

  • Overall Commercial Spend Activity
  • COVID-19
  • Network B2B Focus

Market Reviews

  • U.S. Overview
  • Market Spend Summary and Product Distribution
  • Canada Overview
  • Market Spend Summary and Product Distribution

Trending Forward

  • Technology Advances
  • Ease of Experience
  • Mobile

Conclusions

References

  • Related Research
  • Endnotes

Figures and Tables

Figure 1: North American commercial consumption expenditure (CCE) and mid-to-large market commercial credit card spend, 2019
Figure 2: Even in the best case scenario, there will be substantial lost economic production
Figure 3: U.S. network share mid-to-large market commercial credit cards, 2019
Figure 4: U.S. aggregate commercial credit card growth interrupted; as correlated with GDP forecasts, 2021 suggests a smart rebound.
Figure 5: U.S. mid-to-large market commercial credit card spend, 2018–2024: recapturing momentum
Figure 6: Canada overall credit card spend suggests a 12% spend gap from prior trends into 2021
Figure 7: Canada mid-to-large market commercial credit card spend, 2018–2024: recovery mode

Note: Product cover images may vary from those shown

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  •  American Express
  • Citi
  • Coupa
  • Cvent
  • Diners Club
  • Interac
  • International Monetary Fund (IMF)
  • Mastercard
  • PNC Bank
  • R3
  • SAP Concur
  • The Conference Board
  • Visa
  • World Health Organization
Note: Product cover images may vary from those shown
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