Payment Card Issuance Software Market Report 2025

The payment card issuance software market size has grown rapidly in recent years. It will grow from $1.86 billion in 2024 to $2.07 billion in 2025 at a compound annual growth rate (CAGR) of 11.6%. The growth observed during the historic period is driven by rising debit card usage in emerging economies, increasing demand for secure banking infrastructure, a growing banked population, the surge in retail banking digitization, and the expansion of branch level card issuance services.

The payment card issuance software market size is expected to see rapid growth in the next few years. It will grow to $3.18 billion in 2029 at a compound annual growth rate (CAGR) of 11.3%. The projected growth during the forecast period is driven by the increasing adoption of virtual cards, the rise of digital-first banking models, growing demand for real-time customer onboarding, the surge in fintech partnerships with banks, and the rising need for personalized customer experiences. Key trends expected in this period include the integration of biometric verification in card issuance workflows, adoption of cloud native issuance platforms, development of eco-friendly card options, expansion of token based issuance models, and the emergence of decentralized card management solutions.

The growing digitization of banking services is expected to drive the growth of the payment card issuance software market. Digitization of banking services involves converting traditional banking operations into digital formats, allowing customers to access financial services through online and mobile platforms with greater convenience, speed, and security. This trend is fueled by increasing consumer demand for convenient, real time, and contactless financial transactions across mobile and online channels. The digitization of banking services supports the payment card issuance software market by increasing demand for secure, automated, and real time issuance of physical and virtual cards, enabling seamless digital transactions. For example, in July 2024, the Banque de France reported that the total number of non cash payments in the euro area rose by 6.6 percent, reaching 71.2 billion in the second half of 2023 compared to the same period in 2022. Therefore, the increasing digitization of banking services is driving the growth of the payment card issuance software market.

Leading companies in the payment card issuance software market are focusing on developing advanced solutions such as cloud native payment processing systems to improve scalability, speed, and flexibility in issuing and managing payment cards. Cloud native payment processing platforms are systems built and deployed entirely in cloud environments, using microservices architecture and containerization to enable real time scalability, high availability, and seamless integration with digital banking services. For example, in February 2024, Thought Machine, a UK based cloud banking technology company, launched Vault Payments, a cloud native card and payment processing platform designed to enhance modern payment card processing capabilities. Vault Payments builds on Thought Machine’s core banking platform by introducing a flexible and programmable payments engine that allows banks to issue, process, and manage payment cards in real time across multiple schemes and regions. The platform offers high performance and customization, catering to the needs of traditional banks, fintechs, and digital first challengers, allowing them to design differentiated card products and services. It supports integration with various card networks, real time payment rails, and fraud prevention tools, making it suitable for global financial institutions seeking modern and secure payment infrastructure. By combining modular architecture with operational speed and flexibility, Vault Payments provides a versatile solution for transforming digital card issuance and processing.

In August 2022, Sabre Corporation, a US based travel technology company, acquired Conferma Pay for an undisclosed amount. Through this acquisition, Sabre aimed to strengthen its position in the virtual payments sector by integrating Conferma Pay’s advanced virtual card technology into its global travel ecosystem, improving payment automation and security for travel buyers and suppliers. Conferma Pay is a UK based provider of payment card issuance software.

Major players in the payment card issuance software market are SAP SE, TietoEVRY Corporation, Stripe Inc., ACI Worldwide Inc., Galileo Financial Technologies Inc., Entrust Corporation, Marqeta Inc., Pleo Solutions ApS, Clai Payments AB, Nium Pte. Ltd., MagTek Inc., OpenWay Group, CoreCard Software LLC, TAS Group S.p.A., High Tech Payment Systems Group, Silverlake Symmetri Sdn Bhd, Bento for Business Inc., Harland Clarke Holdings Corp., HST Payment Group Ltd., BankWorld, Matica Technologies AG, and NBS Technologies Limited.

North America was the largest region in the payment card issuance software market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in payment card issuance software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the payment card issuance software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.

Payment card issuance software is a digital platform that enables banks, fintechs, and card issuers to design, personalize, issue, and manage debit, credit, or prepaid cards, either physically or digitally. The software integrates with core banking systems and payment networks to streamline the entire card lifecycle. It is widely used to accelerate card delivery, improve security, and reduce operational costs within the payment industry.

The main components of payment card issuance software include software and services. The software component refers to the core platforms used by banks and card issuers to design, personalize, activate, and manage both physical and digital payment cards. Technology adoption varies between legacy systems and emerging solutions, with deployment options including on premises and cloud. The software serves enterprises of all sizes, including small and medium enterprises and large organizations, and is applied across multiple end-user industries such as banking, financial services, retail, government, and others.

The payment card issuance software market research report is one of a series of new reports that provides payment card issuance software market statistics, including payment card issuance software industry global market size, regional shares, competitors with a payment card issuance software market share, detailed payment card issuance software market segments, market trends and opportunities, and any further data you may need to thrive in the payment card issuance software industry. The payment card issuance software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The payment card issuance software market consists of revenues earned by entities by providing services such as digital and physical card issuance services, instant card issuance services, and core banking system integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The payment card issuance software market also includes sales of card printers, card embossers, card encoders, and card lamination machines. Values in this market are ‘factory gate’ values; that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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