Credit card payments market to grow by USD 147.16 Bn, 44% of the growth to originate from North America - Technavio

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Oct 21, 2022, 07:30 ET

NEW YORK, Oct. 21, 2022 /PRNewswire/ -- The credit card payments market is expected to grow by USD 147.16 billion during 2021-2026, at a CAGR of 7.66% during the forecast period. The market is driven by the rising number of online transactions. Countries such as the US, Canada, China, India, and the UK are expected to emerge as prominent markets for Credit Card Payments Market during the forecast period. Request Free Sample Report.

Credit Card Payments Market: Regional Analysis

Technavio has announced its latest market research report titled Global Credit Card Payments Market 2022-2026

Based on geography the market is segmented by North America, APAC, Europe, South America, and the Middle East and Africa.

During the projection period, North America will account for 44% of market growth. The region's credit card payments market is anticipated to have the biggest development potential, mainly as a result of the rising popularity of smartphones. Additionally, the growing demand for mobility, cloud solutions, and increasing integration with social apps is resulting in a co-dependent and intelligent economy in the region. In the current market environment, a notable rise in the number of youthful and socially engaged users has been observed, positively impacting the North American credit card payments market as a whole. Buy Sample Report.

Credit Card Payments Market: Vendor Offerings

The market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:

American Express Co.: The company offers a wide range of credit cards such as the American Express Membership Rewards Credit Card and SmartEarn Credit Card.
Bank of America Corp.: The company offers small business credit cards such as the Business Advantage Customized Cash Rewards credit card and Business Advantage Travel Rewards credit card.
Capital One Financial Corp.: The company offers credit cards such as Barclaycard Avios Plus and Barclaycard Rewards card.
Citigroup Inc.: The company offers a wide range of credit cards such as Platinum Mastercard and QuicksilverOne Rewards.
Credicard SA: The company offers a wide range of credit cards such as Double Cash Credit Card and Diamond Preferred Credit Card.

Credit Card Payments Market: Driver Analysis

One of the main factors promoting the expansion of the credit card payments business is the increase in online transactions. For sectors like finance and e-commerce, advanced and sophisticated threats that target devices, people, and networks present a serious issue. Advanced methods of data theft are on the rise as a result of the IT infrastructure's quick modifications. Additionally, the creation of mobile banking and payment websites has made it simple for thieves and hackers to steal information from unprotected consumers.

As a result, several market suppliers are offering mobile payment security software to stop fraudulent activities and increase the security of online transactions. During the forecast period, these factors will have a favorable effect on the expansion of the worldwide credit card payments market. Download Free Sample Report.

Credit Card Payments Market: Challenges Analysis

One of the things hindering the expansion of the credit card payments sector is the lack of awareness of online payments in developing economies. The crucial telecom infrastructure required to facilitate mobile payments is absent in a number of poor nations worldwide. In these Asian nations, LTE technology is still in its infancy, and adoption there has been rather slow. To guarantee uninterrupted and error-free telecom services, these technologies are a crucial part of the network architecture. Therefore, the lack of these mobile payment options may make it more difficult for these nations to adopt credit card payments.

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Credit Card Payments Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.66%
Market growth 2022-2026	$147.16 billion
Market structure	Fragmented
YoY growth (%)	7.36
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 44%
Key consumer countries	US, Canada, China, India, and UK
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	American Express Co., Bajaj Finserv Ltd., Bank of America Corp., Bank of Montreal, Capital One Financial Corp., Citigroup Inc., Credicard SA, Credit One Bank N.A., HDFC Bank Ltd., JCB Co. Ltd., JPMorgan Chase and Co., Malayan Banking Berhad, Mastercard Inc., Royal Bank of Canada, Standard Chartered PLC, SYNCHRONY FINANCIAL, The PNC Financial Services Group Inc., USAA, Visa Inc., and Barclays Bank Plc
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments

Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user

Exhibit 26: Chart on Comparison by End-user
Exhibit 27: Data Table on Comparison by End-user

5.3 Consumer or Individual - Market size and forecast 2021-2026

Exhibit 28: Chart on Consumer or Individual - Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Data Table on Consumer or Individual - Market size and forecast 2021-2026 ($ billion)
Exhibit 30: Chart on Consumer or Individual - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Consumer or Individual - Year-over-year growth 2021-2026 (%)

5.4 Commercial - Market size and forecast 2021-2026

Exhibit 32: Chart on Commercial - Market size and forecast 2021-2026 ($ billion)
Exhibit 33: Data Table on Commercial - Market size and forecast 2021-2026 ($ billion)
Exhibit 34: Chart on Commercial - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Commercial - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by End-user

Exhibit 36: Market opportunity by End-user ($ billion)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 38: Chart on Market share by geography 2021-2026 (%)
Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 40: Chart on Geographic comparison
Exhibit 41: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 APAC - Market size and forecast 2021-2026

Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026

Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ billion)
Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ billion)
Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 UK - Market size and forecast 2021-2026

Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ billion)
Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.11 Canada - Market size and forecast 2021-2026

Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.12 India - Market size and forecast 2021-2026

Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ billion)
Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ billion)
Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 82: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 85: Overview on factors of disruption

9.4 Industry risks

Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 87: Vendors covered

10.2 Market positioning of vendors

Exhibit 88: Matrix on vendor position and classification

10.3 American Express Co.

Exhibit 89: American Express Co. - Overview
Exhibit 90: American Express Co. - Business segments
Exhibit 91: American Express Co. - Key offerings
Exhibit 92: American Express Co. - Segment focus

10.4 Bank of America Corp.

Exhibit 93: Bank of America Corp. - Overview
Exhibit 94: Bank of America Corp. - Business segments
Exhibit 95: Bank of America Corp. - Key news
Exhibit 96: Bank of America Corp. - Key offerings
Exhibit 97: Bank of America Corp. - Segment focus

10.5 Barclays Bank Plc

Exhibit 98: Barclays Bank Plc - Overview
Exhibit 99: Barclays Bank Plc - Business segments
Exhibit 100: Barclays Bank Plc - Key offerings
Exhibit 101: Barclays Bank Plc - Segment focus

10.6 Capital One Financial Corp.

Exhibit 102: Capital One Financial Corp. - Overview
Exhibit 103: Capital One Financial Corp. - Business segments
Exhibit 104: Capital One Financial Corp. - Key news
Exhibit 105: Capital One Financial Corp. - Key offerings
Exhibit 106: Capital One Financial Corp. - Segment focus

10.7 Citigroup Inc.

Exhibit 107: Citigroup Inc. - Overview
Exhibit 108: Citigroup Inc. - Business segments
Exhibit 109: Citigroup Inc. - Key offerings
Exhibit 110: Citigroup Inc. - Segment focus

10.8 JPMorgan Chase and Co.

Exhibit 111: JPMorgan Chase and Co. - Overview
Exhibit 112: JPMorgan Chase and Co. - Business segments
Exhibit 113: JPMorgan Chase and Co. - Key offerings
Exhibit 114: JPMorgan Chase and Co. - Segment focus

10.9 Mastercard Inc.

Exhibit 115: Mastercard Inc. - Overview
Exhibit 116: Mastercard Inc. - Product / Service
Exhibit 117: Mastercard Inc. - Key offerings

10.10 SYNCHRONY FINANCIAL

Exhibit 118: SYNCHRONY FINANCIAL - Overview
Exhibit 119: SYNCHRONY FINANCIAL - Product / Service
Exhibit 120: SYNCHRONY FINANCIAL - Key offerings

10.11 The PNC Financial Services Group Inc.

Exhibit 121: The PNC Financial Services Group Inc. - Overview
Exhibit 122: The PNC Financial Services Group Inc. - Business segments
Exhibit 123: The PNC Financial Services Group Inc. - Key offerings
Exhibit 124: The PNC Financial Services Group Inc. - Segment focus

10.12 USAA

Exhibit 125: USAA - Overview
Exhibit 126: USAA - Product / Service
Exhibit 127: USAA - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 128: Inclusions checklist
Exhibit 129: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 130: Currency conversion rates for US$

11.4 Research methodology

Exhibit 131: Research methodology
Exhibit 132: Validation techniques employed for market sizing
Exhibit 133: Information sources

11.5 List of abbreviations

Exhibit 134: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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