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Credit Card Global Market Report 2021: COVID-19 Impact and Recovery to 2030

  • ID: 5351795
  • Report
  • June 2021
  • Region: Global
  • The Business Research Company

FEATURED COMPANIES

  • Axis Bank Limited
  • Citibank
  • HDFC Bank Ltd.
  • JPMorgan Chase & Co.
  • Mastercard Incorporated
  • Visa Inc.
  • MORE
Credit Card Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global credit card market as it emerges from the COVID-19 shut down.

Reasons to Purchase
  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:

Where is the largest and fastest growing market for the credit card ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Credit Card market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider credit card market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The credit card market section of the report gives context. It compares the credit card market with other segments of the credit card market by size and growth, historic and forecast.
Scope

Markets Covered:

1) By Type: Reward Card; Credit Builder Card; Travel Credit Card; Balance Transfer Card; Others
2) By Card Type: Base; Signature; Platinum
3) By Service Provider: Visa; Matercard; Rupay; Others

Companies Mentioned: Citibank; The American Express Company; Mastercard Incorporated; Visa Inc.; JPMorgan Chase & Co.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

This report will be delivered within 1-3 business days.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Axis Bank Limited
  • Citibank
  • HDFC Bank Ltd.
  • JPMorgan Chase & Co.
  • Mastercard Incorporated
  • Visa Inc.
  • MORE
1. Executive Summary

2. Credit Card Market Characteristics

3. Credit Card Market Trends And Strategies

4. Impact Of COVID-19 On Credit Card

5. Credit Card Market Size And Growth
5.1. Global Credit Card Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Credit Card Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Credit Card Market Segmentation
6.1. Global Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Reward Card
  • Credit Builder Card
  • Travel Credit Card
  • Balance Transfer Card
  • Others
6.2. Global Credit Card Market, Segmentation By Card Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Base
  • Signature
  • Platinum
6.3. Global Credit Card Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Visa
  • Matercard
  • Rupay
  • Others
7. Credit Card Market Regional And Country Analysis
7.1. Global Credit Card Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Credit Card Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

8. Asia-Pacific Credit Card Market
8.1. Asia-Pacific Credit Card Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

9. China Credit Card Market
9.1. China Credit Card Market Overview
9.2. China Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

10. India Credit Card Market
10.1. India Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

11. Japan Credit Card Market
11.1. Japan Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

12. Australia Credit Card Market
12.1. Australia Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

13. Indonesia Credit Card Market
13.1. Indonesia Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

14. South Korea Credit Card Market
14.1. South Korea Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

15. Western Europe Credit Card Market
15.1. Western Europe Credit Card Market Overview
15.2. Western Europe Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

16. UK Credit Card Market
16.1. UK Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

17. Germany Credit Card Market
17.1. Germany Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

18. France Credit Card Market
18.1. France Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

19. Eastern Europe Credit Card Market
19.1. Eastern Europe Credit Card Market Overview
19.2. Eastern Europe Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

20. Russia Credit Card Market
20.1. Russia Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

21. North America Credit Card Market
21.1. North America Credit Card Market Overview
21.2. North America Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

22. USA Credit Card Market
22.1. USA Credit Card Market Overview
22.2. USA Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

23. South America Credit Card Market
23.1. South America Credit Card Market Overview
23.2. South America Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

24. Brazil Credit Card Market
24.1. Brazil Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

25. Middle East Credit Card Market
25.1. Middle East Credit Card Market Overview
25.2. Middle East Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

26. Africa Credit Card Market
26.1. Africa Credit Card Market Overview
26.2. Africa Credit Card Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

27. Credit Card Market Competitive Landscape And Company Profiles
27.1. Credit Card Market Competitive Landscape
27.2. Credit Card Market Company Profiles
27.2.1. Citibank
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. The American Express Company
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Mastercard Incorporated
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Visa Inc.
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. JPMorgan Chase & Co.
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

29. Key Mergers And Acquisitions In The Credit Card Market

29. Credit Card Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright And Disclaimer
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Axis Bank Limited
  • Citibank
  • HDFC Bank Ltd.
  • JPMorgan Chase & Co.
  • Mastercard Incorporated
  • Visa Inc.
  • MORE
Major players in the credit card market are Citibank, American Express Company, Mastercard Incorporated, Visa Inc., JPMorgan Chase & Co., Mango Financial Inc., BBVA Compass Bancshares Inc, Total System Services Inc, The PNC Financial Services Group Inc., and Capital One Financial Corporation.

The global credit card market is expected to grow from $100.05 billion in 2020 to $103.06 billion in 2021 at a compound annual growth rate (CAGR) of 3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $107.69 billion in 2025 at a CAGR of 1.1%.

The credit card market consists of sales of credit card services by entities (organizations, sole traders, and partnerships) that are engaged in storing, processing, and transmitting payment card data. Credit cards are payment cards issued by banks and financial institutions that can be used to borrow funds. Credit cards are mostly used for short-term financing of consumer goods and services. The credit limit is preset depending on the borrower’s credit rating and credit cardholders are charged interest each month by the credit card provider. Only goods and services traded between entities or sold to end consumers are included.

The credit card market covered in this report is segmented by type into reward card, credit builder card, travel credit card, balance transfer card, others, by card type into base, signature, platinum, by a service provider into visa, mastercard, rupay, others.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The impact of COVID-19 on a new credit card is expected to hinder the growth of the credit card market. Consumers are dialing back on applying for credit cards and reducing balances as there are fewer chances to spend money due to economic recession. Also, digitally-focused businesses such as Apple, which announced the satisfactory acceptance of its Apple Card, noticed lower spending across the board. According to data from Equifax's Weekly U.S. National, Consumer Credit Trends published in July 2019, general-purpose bank credit card approvals average were around 1.2 million new cards per week until mid-March. The new accounts opened dropped to 672,000 by the week of March 29 and continued to decline to less than 500,000 new cards a week. Therefore, the impact of the COVID-19 recession restrains the growth of the credit card market.

In January 2018, Scotiabank, a Canada-based financial services company announced that its Colombian subsidiary, Banco Colpatria Multibanca Colpatria S.A. (Banco Colpatria), acquired the consumer (retail and credit card) and small and medium enterprise operations of Citibank in Colombia for an undisclosed amount. Through this acquisition, Citibank will allow Scotiabank to serve new customers in Colombia and to increase scale within the Colombian banking sector, as well as the other Pacific Alliance economies of Mexico, Chile, and Peru. Citibank, a USA based financial services company engaged in providing a wide range of credit card, baking, investment, and wealth management services.

The rising demand for credit card is expected to fuel the growth of the credit card market in the forecast period. The rise in demand for consumer credit and the benefits offered by credit cards encourage individuals to use credit cards. According to TransUnion CIBIL Limited, an India-based credit information company, credit card debts and the number of accounts increased by 40.7% and 29.8% respectively with 44.5 million cards in circulation in 2019. Therefore, the rising demand for credit card drives the growth of the credit card market.

The growing technological innovation is a key trend gaining popularity in the credit card market. Major corporations are concentrating on offering digital prepaid card services in emerging economies to attract a large consumer base for a prepaid credit card. For example, in June 2020, in collaboration with the Mastercard alliance, Grab Holdings, Inc., a multinational ride-hailing company based in Singapore, launched a new card to facilitate cashless payments in the Philippines. With the card linked to Grab's prepaid wallet, which includes 53 million global merchants that accept Mastercard, users can pay for anything online.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Note: Product cover images may vary from those shown
  • Citibank
  • The American Express Company
  • Mastercard Incorporated
  • Visa Inc.
  • JPMorgan Chase & Co.
  • Mango Financial Inc.
  • BBVA Compass Bancshares Inc
  • Total System Services Inc
  • The PNC Financial Services Group Inc.
  • Capital One Financial Corporation
  • The Bank of America Corporation
  • Wells Fargo
  • Discover Bank
  • HDFC Bank Ltd.
  • SBI Card and Payment Services Limited
  • ICICI Bank Limited
  • Axis Bank Limited
  • Bank of Baroda
Note: Product cover images may vary from those shown

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