Surge in demand for alternatives ways for cash payment and presence of affordable credit cards worldwide drive the growth of the global credit card payments market.

Allied Market Research published a report, titled, “Credit Card Payments Market By Card Type (General Purpose Credit Cards and Specialty & Other Credit Cards), Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, Travel & Tourism and Others), and Provider (Visa, MasterCard, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028.” According to the report, the global credit card payments market generated $138.43 billion in 2020, and is estimated to garner $263.47 billion by 2028, witnessing a CAGR of 8.5% from 2021 to 2028.

A credit card is a piece of metal or plastic issued by a financial services company or banks, which allows cardholders to borrow funds to pay for goods and services with different types of merchants. Furthermore, credit cards provided by the banks and other fintech institutions help customer purchase different types of services on credit without having to put up cash at the point of sale. Instead, the charges accrue as a balance that must be paid off on a monthly billing cycle, giving the buyer more time to get the cash together.

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Segment Overview

The global credit card payments market is segmented on the basis of card type, application, provider, and region. In terms of card type, the market is divided into general purpose credit cards and specialty & other credit cards. Depending on application, it is fragmented into food & groceries, health & pharmacy, restaurants & bars, consumer electronics, media & entertainment, travel & tourism and others. On the basis of enterprise size, it is classified into Visa, MasterCard, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Competitive Analysis

The key players profiled in the Credit Card Payments Market are American Express, Bank of America Corporation, Barclays PLC, Capital One, Citigroup Inc., JPMorgan Chase & Co, MasterCard, Synchrony, The PNC Financial Services Group, Inc., and USAA. These players have adopted various strategies to increase their market penetration and strengthen their position in the credit card payments industry.

Top Impacting Factors

Rise in Demand for Credit Cards Among the Developing Nations

Technological Advancement in Product Offering

Key Benefits For Stakeholders

The study provides an in-depth analysis of the global credit card payments market forecast along with the current trends and future estimations to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on the global credit card payments market trends is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.
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Key Market Segments

By Card Type

General Purpose Credit Cards
Specialty & Other Credit Cards
By Application

Food & Groceries
Health & Pharmacy
Restaurants & Bars
Consumer Electronics
Media & Entertainment
Travel & Tourism
Others
By Provider

Visa
Mastercard
Others
By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Singapore
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

Key Players

American Express
Bank of America Corporation
Barclays PLC
Capital One
Citigroup Inc.
JPMorgan Chase & Co
MasterCard
Synchrony
The PNC Financial Services Group, Inc.
USAA
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Related Links:

Digital Gift Cards Market : https://www.alliedmarketresearch.com/digital-gift-cards-market-A09990

Credit Card Payment Market : https://www.alliedmarketresearch.com/credit-card-payments-market-A11836

EMV Smart Cards Market : https://www.alliedmarketresearch.com/emv-smart-cards-market-A14987

Virtual Cards Market : https://www.alliedmarketresearch.com/virtual-cards-market-A17176

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