What is Financial Payment Cards Market?
FInancial payment cards are the cards for cashless payments at retailers, internet stores or for cash withdrawals at ATMs. It is offered by usually a bank, but also from various financial institutions, department stores, loan companies, telecommunications, utility and airline companies. They are of numerous types, the most common being credit cards and debit cards. These cards are smart cards that contain a unique card number and some security information such as an expiration date or CVVC (CVV) or with a magnetic strip on the back enabling various machines to read and access information.
The market study is being classified by Type (Bank Cards, Credit Cards, Debit Cards, Purchasing Cards and Other), by Application (Personal use and Business use) and major geographies with country level break-up.
VISA (United States), MasterCard (United States), American Express (United States), Diners Club (United States), Discover Financial (United States), JCB Card (Japan), CPI Card Group (United States), Gemalto (Netherlands), ABCorp (United States) and IDEMIA (France) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Citigroup Inc. (United States, JPMorgan Chase& Co. (United States) and Capital One Financial Corporation (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Financial Payment Cards market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Financial Payment Cards market by Type, Application and Region.
On the basis of geography, the market of Financial Payment Cards has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increased Demand from Consyners
- Higher Credit Limits of the Payment Cards
- Growing Demand for Premium Payment Cards such as Metal Cards
- Increased Frauds of Payment Cards
- Rising Trend of Digitalization
- Increasing Demand from End-user Industry
- Privacy and Security Concerns
Market Leaders and some development strategies
In November 2019, Open, which offers a business-banking platform for small enterprises, has announced a partnership with Visa to launch a credit card that will help these entities manage their expenses and vendor payouts better.
Key Target AudienceFinancial Payment Cards Providers, Research Professionals, Research Companies, Distributors and End-users