Market Overview:
The global financial cards and payment systems market is expected to grow at a CAGR of 9.5% during the forecast period from 2018 to 2030. The market is segmented by type, application, and region. The type segment includes bank deposit card, bank credit card, expense card approved by the banking association, and others. The application segment includes BFSI (banking, financial services & insurance), retail, IT & telecoms transportation sector), hospital sector), government sector) and others). Region wise, the global financial cards and payment systems market is divided into North America,, Latin America,, Europe,, Asia Pacific (APAC)and Middle East & Africa (MEA). Some of the factors that are driving the growth of this market include increasing adoption of digital payments methods such as mobile wallets; rising demand for contactless payments; growing number of e-commerce transactions; increasing use of debit cards for small value transactions; rising demand from developing countries owing to increase in population and rise in income levels; growing trend towards cashless societies ;and development of innovative payment technologies. However,. some factors that may hamper the growth o this market include security concerns related to online payments ;fraudulent activities ;and cybercrime .
Product Definition:
Financial cards and payment systems are a way to electronically pay for goods or services. Financial cards can be either physical or digital, and payment systems can be either online or offline. Physical financial cards are plastic cards that have a magnetic strip or an embedded chip on which the cardholder's account information is stored. When used in conjunction with a payment terminal, physical financial cards allow the cardholder to authorize and complete transactions by inputting a personal identification number (PIN) or signing a receipt. Digital financial cards are accounts that exist only in electronic form and are used to purchase items online or through mobile apps. Payment systems that use an online connection allow consumers to pay for items by entering their credit card information into a web form on the retailer's website. Payment systems that use an offline connection involve swiping the physical financial card through a payment terminal, which then communicates with the merchant's bank to complete the transaction.
The importance of financial cards and payment systems lies in their ability to provide consumers with fast, secure, and convenient ways to purchase goods and services without having to carry cash around town.
Bank Deposit Card:
Bank deposit card is a plastic payment card that enables its holder to make deposits or withdrawals from an account held with a financial institution. The cards are issued by banks, and can be used at ATMs, cash dispensers, and point of sale terminals.
The global bank deposit card market was valued at USD 1.12 trillion in 2013.
Bank Credit Card:
Bank credit card is a plastic payment card that allows the customers of a specific bank to make purchases without having cash or monetary reserves. The banks issue these cards to customers who open accounts with them; however, the credit limit on these cards is decided by the customer’s income and other financial parameters. These cards are used for purchasing goods and services from merchants who accept plastic payments.
The global bank credit card.
Application Insights:
The retail segment accounted for the largest market share in 2017 and is anticipated to maintain its dominance over the forecast period. The growing e-commerce industry has created a demand for payment systems that offer convenience, flexibility, and ease of use. Furthermore, retailers are offering discounts on purchases made using these cards which encourages consumers to adopt these cards even more frequently. This trend is expected to continue over the forecast period thereby driving growth in this segment.
The transportation sector includes air transport services such as airlines, helicopters and sea carriers among others that provide various financial services including ticketing facilities at airports across the globe. The rapid growth of this sector has led to an increased adoption of travel credit card which offers benefits such as cashback facility on purchase of air tickets along with other benefits offered by them like insurance cover etcetera (rewards).
Regional Analysis:
The North American regional market dominated the global financial cards and payment systems industry in terms of revenue share in 2016. The growth can be attributed to the presence of a large number of players operating across various business segments, such as deposits, credit cards, and others. The region is expected to maintain its dominance over the forecast period owing to increasing adoption of plastic money for making payments at a domestic level.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising demand for convenient methods for online transactions coupled with growing penetration by global card providers offering their services within this region. In addition, favorable government initiatives promoting digitalization are estimated to drive market development within APAC during the same period.
Europe also accounted for a substantial share in 2016 due towards high acceptance levels associated with bank deposit cards.
Growth Factors:
- Increasing demand for digital payments: The global financial cards and payment systems market is expected to grow at a CAGR of over 9% during the forecast period. This can be attributed to the increasing demand for digital payments, owing to their ease of use and security features.
- Proliferation of contactless payments: Contactless payments are witnessing a rapid growth across the world, owing to their convenience and speed. This is aiding in the growth of the global financial cards and payment systems market.
- Rising adoption of mobile wallets: Mobile wallets are becoming increasingly popular due to their ease of use and security features. This is aiding in the growth of the global financial cards and payment systems market.
- . Growing number of e-commerce transactions: The proliferation of e-commerce has led to a surge in online transactions, which is benefiting the global financial cards and payment systems market..5 Increased focus on card fraud prevention: Banks are focusing on card fraud prevention measures, such as biometric authentication, which is helping fuelthegrowthoftheglobalfinancialcardsandpaymentystemsmarket
Scope Of The Report
Report Attributes
Report Details
Report Title
Financial Cards and Payment Systems Market Research Report
By Type
Bank Deposit Card, Bank Credit Card, Expense Card Approved by the Banking Association
By Application
BFSI, Retail, IT & Telecom, Transportation, Hospital, Government, Others
By Companies
Visa, MasterCard, Google, Amazon, Apple, PayPoint, DigiCash, 2C2P, PayPal Holdings, Giesecke & Devrient, Gemalto, RuPay, TransferWise
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
166
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Financial Cards and Payment Systems Market Report Segments:
The global Financial Cards and Payment Systems market is segmented on the basis of:
Types
Bank Deposit Card, Bank Credit Card, Expense Card Approved by the Banking Association
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Retail, IT & Telecom, Transportation, Hospital, Government, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Visa
- MasterCard
- Google
- Amazon
- Apple
- PayPoint
- DigiCash
- 2C2P
- PayPal Holdings
- Giesecke & Devrient
- Gemalto
- RuPay
- TransferWise
Highlights of The Financial Cards and Payment Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Bank Deposit Card
- Bank Credit Card
- Expense Card Approved by the Banking Association
- By Application:
- BFSI
- Retail
- IT & Telecom
- Transportation
- Hospital
- Government
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Financial Cards and Payment Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A financial card is a plastic card that can be used to make payments in stores and online. Payment systems are the electronic systems used to process financial cards.
Some of the key players operating in the financial cards and payment systems market are Visa, MasterCard, Google, Amazon, Apple, PayPoint, DigiCash, 2C2P, PayPal Holdings, Giesecke & Devrient, Gemalto, RuPay, TransferWise.
The financial cards and payment systems market is expected to grow at a compound annual growth rate of 9.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Financial Cards and Payment Systems Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Financial Cards and Payment Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Financial Cards and Payment Systems Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Financial Cards and Payment Systems Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Financial Cards and Payment Systems Market Size & Forecast, 2018-2028
4.5.1 Financial Cards and Payment Systems Market Size and Y-o-Y Growth
4.5.2 Financial Cards and Payment Systems Market Absolute $ Opportunity
Chapter 5 Global Financial Cards and Payment Systems Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Financial Cards and Payment Systems Market Size Forecast by Type
5.2.1 Bank Deposit Card
5.2.2 Bank Credit Card
5.2.3 Expense Card Approved by the Banking Association
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Financial Cards and Payment Systems Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Financial Cards and Payment Systems Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Retail
6.2.3 IT & Telecom
6.2.4 Transportation
6.2.5 Hospital
6.2.6 Government
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Financial Cards and Payment Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Financial Cards and Payment Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Financial Cards and Payment Systems Analysis and Forecast
9.1 Introduction
9.2 North America Financial Cards and Payment Systems Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Financial Cards and Payment Systems Market Size Forecast by Type
9.6.1 Bank Deposit Card
9.6.2 Bank Credit Card
9.6.3 Expense Card Approved by the Banking Association
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Financial Cards and Payment Systems Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Retail
9.10.3 IT & Telecom
9.10.4 Transportation
9.10.5 Hospital
9.10.6 Government
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Financial Cards and Payment Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Financial Cards and Payment Systems Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Financial Cards and Payment Systems Market Size Forecast by Type
10.6.1 Bank Deposit Card
10.6.2 Bank Credit Card
10.6.3 Expense Card Approved by the Banking Association
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Financial Cards and Payment Systems Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Retail
10.10.3 IT & Telecom
10.10.4 Transportation
10.10.5 Hospital
10.10.6 Government
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Financial Cards and Payment Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Financial Cards and Payment Systems Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Financial Cards and Payment Systems Market Size Forecast by Type
11.6.1 Bank Deposit Card
11.6.2 Bank Credit Card
11.6.3 Expense Card Approved by the Banking Association
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Financial Cards and Payment Systems Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Retail
11.10.3 IT & Telecom
11.10.4 Transportation
11.10.5 Hospital
11.10.6 Government
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Financial Cards and Payment Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Financial Cards and Payment Systems Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Financial Cards and Payment Systems Market Size Forecast by Type
12.6.1 Bank Deposit Card
12.6.2 Bank Credit Card
12.6.3 Expense Card Approved by the Banking Association
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Financial Cards and Payment Systems Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Retail
12.10.3 IT & Telecom
12.10.4 Transportation
12.10.5 Hospital
12.10.6 Government
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Financial Cards and Payment Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Financial Cards and Payment Systems Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Financial Cards and Payment Systems Market Size Forecast by Type
13.6.1 Bank Deposit Card
13.6.2 Bank Credit Card
13.6.3 Expense Card Approved by the Banking Association
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Financial Cards and Payment Systems Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Retail
13.10.3 IT & Telecom
13.10.4 Transportation
13.10.5 Hospital
13.10.6 Government
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Financial Cards and Payment Systems Market: Competitive Dashboard
14.2 Global Financial Cards and Payment Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Visa
14.3.2 MasterCard
14.3.3 Google
14.3.4 Amazon
14.3.5 Apple
14.3.6 PayPoint
14.3.7 DigiCash
14.3.8 2C2P
14.3.9 PayPal Holdings
14.3.10 Giesecke & Devrient
14.3.11 Gemalto
14.3.12 RuPay
14.3.13 TransferWise
