Global Cards & Payments Market 2020 COVID-19 Impact, Share, Trend, Segmentation and Forecast to 2026

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Cards & Payments Global Market Report 2020-30: Covid 19 Impact and Recovery Including: 1) By Type: Cards; Payments 2) By Institution Type: Banking Institutions; Non-Banking Institutions Covering: American Express Company; Visa; Bank of America; PayPal; Mastercard

-- Cards & Payments Market:

Executive Summary

The global cards & payments market is expected to grow from $721.9 billion in 2019 to $722.4 billion in 2020 at a compound annual growth rate (CAGR) of 0.1%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9% from 2021 and reach $909.1 billion in 2023.

The cards and payments market consists of sales of cards and payments services by entities (organizations, sole traders and partnerships) that engage in storing, processing and transmitting payment card data. The card and payments industry includes issuing and acquiring banks, card processing and issuing companies, payment processing institutions such as banks, and non-banking financial corporations. Revenues generated from the cards and payments market include the processing and services fees or commissions levied by the banks and financial institutions for payment processing. This market excludes interest charged by the banks on credit cards or other cards.

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The global payments industry has witnessed rapid increase in the adoption of EMV technology. This growth is driven by a higher level of data security offered by EMV chip and PIN cards as compared to traditional magnetic stripe cards. EMV is a security standard for various payment cards including debit, credit, charge and prepaid cards. The chip carries data of the cardholder and the account, which is protected using both hardware and software security measures. According to global technical body EMVCo, the number of EMV chip payment cards across the world reached 4.8 billion by the end of 2015. In line with the rest of the world, the adoption rate of EMV chip payment cards has steadily grown across various regions in world, reaching 71.7% in Canada, Latin America and the Caribbean region, 61.2% in Africa and the Middle East region, and 32.7% in Asia-Pacific region.

Asia Pacific was the largest region in the global cards & payments market, accounting for 33% of the market in 2019. Western Europe was the second largest region accounting for 23% of the global cards & payments market. South America was the smallest region in the global cards & payments market.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider cards & payments market, and compares it with other markets.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the Covid 19 virus and forecasting its recovery.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
• The cards & payments market section of the report gives context. It compares the cards & payments market with other segments of the lending and payments market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, cards & payments indicators comparison.

Scope

Markets Covered:
1) By Type: Cards; Payments
2) By Institution Type: Banking Institutions; Non-Banking Institutions

Subsegments Covered: Credit Card; Debit Card; Charge Card; Prepaid Card; B2B; B2C; C2C; C2B

Companies Mentioned: American Express Company; Visa; Bank of America; PayPal; Mastercard

Metrics Covered: Number of Enterprises; Number of Employees

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, cards & payments indicators comparison.

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Continuous…

For further information on this report, visit – https://www.wiseguyreports.com/reports/5286842-cards-payments-global-market-report-2020-30-covid

NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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Name: WISEGUY RESEARCH CONSULTANTS PVT LTD
Email: Send Email
Organization: WISE GUY RESEARCH CONSULTANTS PVT LTD
Address: Office No. 528/524, Amanora Chambers, Magarpatta Road, Hadapsar Pune, Maharashtra 411028
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