Global Credit Card Market Report 2022, Featuring Profiles of Key Players Citibank, Visa, Mastercard, American Express, JP Morgan Chase and Wells Fargo - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Credit Card Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global credit card market is expected to grow from $99.08 billion in 2021 to $101.98 billion in 2022 at a compound annual growth rate (CAGR) of 2.9%. The market is expected to grow to $106.67 billion in 2026 at a compound annual growth rate (CAGR) of 1.1%.

Asia Pacific was the largest region in the credit card market in 2021. Western Europe was the second largest region in the credit card market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The rising demand for credit cards 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 cards drives the growth of the credit card market.

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.

Report Scope

Markets Covered:

• By Type: Reward Card; Credit Builder Card; Travel Credit Card; Balance Transfer Card; Other Types
• By Card Type: Base; Signature; Platinum
• By Service Provider: Visa; Matercard; Rupay; Other Service Providers

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.

Companies Mentioned

• 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

For more information about this report visit https://www.researchandmarkets.com/r/pymvop

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