Overview:

Financial institutions across the globe are focused on facilitation of transaction by issuing payment cards. Payment cards are part of payment system that helps customers for easy access to funds. The cards are electronically linked to customers account and provide an authentication to card holder in order to deposit or loan the amount.

Market Dynamics:

Increasing preference for cashless transaction among consumers, coupled with availability of various offers and discounts on card payments are attracting customers are major factors driving growth of the global commercial payment cards market. In addition, rapid digitalization in developing countries, coupled with acceptance of card payments in various industry verticals are other factors expected to further support the growth of global market during the forecast period.

Government is spending high on the development of payment infrastructure, additionally, government regulation and safety policies is resulting in high adoption of payment cards, which is another important factor expected to augment the growth of target market.

Key Trends:

High investment by major players on data security and introduction of new card in order to increase the customer base is the recent trend observed in the target market. In 2020, CPI Card Group a payment technology company and globe provider of credit, debit and prepaid solutions launched dual interface metal cards that has uniquely combine high-quality design. This is expected to help the company expand the customer base and enhance the profit ratio.

Regional Analysis:

For detailed understanding of market dynamics, the global commercial payment cards market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America accounts for the major revenue share in 2018, owing to high adoption of payment cards such as credit card, debit card, ATM cards, etc. from consumers. In addition, favorable government policies and availability of advanced infrastructure in order to facilitate the payments is expected to further support the growth of target market in this region.

Scope of the Report:

Detailed Segmentation:

Global Commercial Payment Cards Market, By Type:

• Credit Card
• Debit Card
• ATM Cards
• Charge Card
• Other Cards (Stored Value Card, Fleet Card, and Gift Card)

Global Commercial Payment Cards Market, By Technology:

• Embossing
• Magnetic Stripe
• Smart Card
• Payment Cloud
• Others (Proximity Card and Re-Programmable Magnetic Stripe Card)

Key Players Covered:

Key players operating in the market includes, Bank of America Corporation, Citigroup, Inc., JP Morgan Chase & Co. Inc., U.S. Bancorp, Wex Inc., Wells Fargo & Company, Corporate Spending Innovations Enterprises, Inc., AirPlus International Ltd., Amazon.com, Inc., American Express Company, NGC US, LLC, and Bank of China Limited.

Key features of the study:

Foresight Market Research provides detailed analysis on Commercial Payment Cards Market in our report- Global Commercial Payment Cards Market by type, technology, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global commercial payment cards market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.