Financial Cards Market Key players are Visa, Mastercard, American Express, JCB (Japan), China UnionPay, Diners Club International (DCI), RuPay, Interac, Joint Stock Company National System of Payment Cards (NSPK), Girocard, Elo, BC Card
Luton, Bedfordshire, United Kingdom, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Financial Cards market.
The Global Financial Cards Market is expected to grow at more than 6.2% CAGR from 2017 to 2025. It is expected to reach above 38 billion units by 2025.
E-commerce offerings offered by online retailers are attracting consumers with improved accessibility and availability. Factors such as security and privacy are driving the growth of the market. The Global Financial Cards And Payments Market report provides an overall assessment of the market. The report provides a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that play a key role in the market.
Smart card technology uses integrated circuit (ICC) chips that can process financial transactions more efficiently than magnetic stripe cards. Proximity cards are contactless integrated circuit devices that utilize radio frequency identification (RFID) technology and are powered by resonant energy transfer. A new technology has introduced the proximity card, a contactless integrated circuit that uses radio frequency identification (RFID) technology. Proximity cards are gaining popularity in personal payment systems and public transport payments and are expected to open up new avenues in the market during the forecast period. Market participants partner with bank merchants and card association network providers to expand the global market.
In October 2019, IDEMIA acquired the Metal Payment Card business of X Core Technologies and develops the Smart Metal Art product.
In April 2019, Thales has finalized its acquisition of Gemalto, transforming the company into a global leader in digital identification and security.
Partnerships, Collaborations and Agreements
In February 2020, Bank Austria announced the incorporation of Israeli startup PayKey’s social banking service on its platform.
In June 2019, Zwipe, a Norwegian biometric technology business, has collaborated with Goldpac, a Chinese secure payment solution provider, to develop biometric payment cards.
The key players in Global Finance Cards Market are Visa, Mastercard, American Express, JCB (Japan), China UnionPay, Diners Club International (DCI), RuPay, Interac, Joint Stock Company National System of Payment Cards (NSPK), Girocard, Elo, BC Card, Troy, Interswitch, PROSA and Others.
Global Financial Cards Market by Customer Group, 2017-2025
Retail Customers
Government Institutes
SMEs
Corporates
Others
Global Financial Cards Market by Issuance, 2017-2025
Central
Instant
Global Financial Cards Market by Card Scheme, 2017-2025
Visa
Mastercard
American Express
Union Pay
Others
Global Financial Cards Market by Usage, 2017-2025
Domestic
International
Growth Overview
Financial cards and payment systems have become profitable in recent years due to the increasing popularity of e-commerce and mobile phones around the world. Many players in these markets are looking to maximize profits in emerging markets, especially countries such as Brazil, Russia, India and China (BRIC).
The presence of various payment methods in the market, such as bank transfers, mobile payments, and e-wallets, is driving the growth of the market. The growing penetration of e-commerce will serve as a key growth vehicle for the market, offering new growth prospects for service providers.
Industry Analysis
Credit card companies can offer incentives to cardholders. B. We may offer insurance or guarantees depending on the type of points redeemed for rewards, such as airline tickets or merchandise, or merchandise purchased with a credit card. Consumers using credit cards can face several problems. Introductory interest rates are typically low, but once the trial period ends, fees and interest rates can increase significantly. Fees may be higher if payments are late or if the credit cardholder fails to pay. Merchants that accept credit cards have an advantage. Credit card transactions are more secure than other payment methods, such as: check. However, credit card transactions are generally charged a percentage of the transaction amount.
Reasons to Purchase this Report
Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
Provision of market value (USD Billion) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
Regional Analysis
UnionPay, also known as China UnionPay, is a Chinese financial services company headquartered in Shanghai, China. Others include international networks such as Discover, JCB, and domestic private financial card providers such as Rupay and Verve.
Technology and innovation are shifting consumer habits and driving growth opportunities in ecommerce, mobile payments, blockchain technology and digital currencies.
Various competitors are working to integrate more financial services into their product offerings and competitors are attempting to replicate closed-loop functionality of big companies, such as the merchant-processing platform Chase Net. New payments competitors continue to emerge in response to evolving technologies, consumer habits and merchant needs.
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