Consumer Credit Market Report 2026

The consumer credit market size has grown strongly in recent years. It will grow from $12.4 billion in 2025 to $13.2 billion in 2026 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to expansion of consumer spending behavior, increasing penetration of credit cards, growth of retail financing options, rising use of installment-based purchases, broader access to consumer banking services.

The consumer credit market size is expected to see strong growth in the next few years. It will grow to $16.9 billion in 2030 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing demand for flexible credit products, rising adoption of AI-driven credit scoring, expansion of digital payment ecosystems, growing focus on financial inclusion, increasing regulatory oversight of consumer lending. Major trends in the forecast period include increasing adoption of digital credit platforms, rising use of buy now pay later models, growing focus on credit risk analytics, expansion of mobile-based credit services, enhanced emphasis on fraud prevention.

The growing adoption of cashless transactions is anticipated to drive the expansion of the consumer credit market in the coming years. Cashless transactions refer to digital methods for transferring financial transactions between two parties without the use of physical currency, utilizing a payment gateway to transmit payments electronically. Fintech lenders are more inclined to extend loans to individuals who engage in cashless payment methods than to those who do not, as the payment histories of cashless users provide lenders with reliable information, facilitating more effective loan application screenings. Furthermore, these borrowers may enjoy lower interest rates and reduced default risks, leading them to prefer cashless payment options. For example, in July 2024, the Bangko Sentral ng Pilipinas, the central bank of the Philippines, reported that the percentage of digital payment transactions compared to total monthly retail payments rose from 42.1% in 2022 to 52.8% in 2023. Thus, the increasing adoption of cashless transactions is propelling the growth of the consumer credit market.

Leading companies within the consumer credit market are increasingly embracing a strategic partnership approach to bolster their access to insightful credit information and services. These strategic partnerships entail collaborative agreements or alliances between multiple entities, be it companies, organizations, or even governments, all aimed at achieving mutually advantageous goals. A case in point occurred in May 2023 when CreditWorks Group, a credit reporting firm based in New Zealand, forged a partnership with Equifax Inc., a prominent US-based credit bureau company. The objective behind this collaboration is to elevate their risk management strategies and enhance decision-making processes by tapping into Equifax's vast repository of comprehensive and accurate consumer credit data. Through this partnership, both entities seek to augment their capabilities in assessing risks and making informed credit-related decisions.

In May 2025, Capital One Financial Corporation, a US-based financial services firm, acquired Discover Financial Services, Inc. for around $35.3 billion. Through this acquisition, Capital One Financial Corporation sought to substantially broaden its market presence, establish itself as one of the largest credit card issuers in the United States, and enhance its competitive strength by incorporating Discover’s proprietary payment network and diversified consumer finance capabilities. Discover Financial Services, Inc. is a US-based financial services company focused on offering credit cards, consumer banking solutions, and global payment network services.

Major companies operating in the consumer credit market are Industrial and Commercial Bank of China Limited, JPMorgan Chase & Co., China Construction Bank Corporation, The Bank of America Corporation, WELLS FARGO & CO., HSBC Holdings plc, Citigroup Inc., American Express Company, Mitsubishi UFJ Financial Group Inc., BNP Paribas SA, Capital One Financial Corporation, Barclays plc, Deutsche Bank AG, PayPal Holdings Inc., Synchrony Financial, Discover Financial Services, Navient Corporation, Hilltop Holdings Inc., Affirm Holdings Inc., Afterpay Touch Group Ltd., Zip Co. Limited, Sezzle Inc., Klarna Bank AB.

North America was the largest region in the consumer credit market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global consumer credit market report during the forecast period. The regions covered in the consumer credit market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the consumer credit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The consumer credit market consists of revenues earned by entities by providing money lending services for closed-end credits and open-end credits. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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