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Credit Card Payments Market to Reach $1,204.48 Billion, Globally, by 2032 at 8.8% CAGR: Allied Market Research
The growth of the global credit card market is driven by a rise in demand for cash alternatives, availability of affordable credit cards across the globe, and the rise in demand for credit cards among the youths of developing nations.
WILMINGTON, Del., Oct. 23, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Credit card payments Market by Product Type (General purpose credit cards, and Specialty and other credit cards), Application (Food and Groceries, Health and Pharmacy, Restaurants and Bars, Consumer Electronics, Media and Entertainment, Travel and Tourism, and Others), and Brand (Visa, MasterCard, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the credit card payments market was valued at $524.93 billion in 2022 and is estimated to reach $1,204.48 billion by 2032, exhibiting a CAGR of 8.8% from 2023 to 2032.
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Prime determinants of growth
Rise in demand for cash alternatives and availability of affordable credit cards across the globe boost the growth of the global credit card market. In addition, the rise in demand for credit cards among the youths of developing nations positively impacts the growth of the market. However, factors such as the increase in credit card frauds across the globe are expected to hamper market growth. On the contrary, technological advancements in product offering like using blockchain for increased security is anticipated to offer remunerative opportunities for the expansion of the market during the forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032  |
|
Base Year |
2022 |
|
Market Size in 2022 |
$ 524.93 billion |
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Market Size in 2032 |
$ 1,204.48 billion |
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CAGR |
8.8 % |
|
No. of Pages in Report |
286 |
|
Segments covered |
Product Type, Application, Brand, and Region. |
|
Drivers |
Rise in demand for credit cards in the developing nations. Rise in demand for cash alternatives and availability of affordable credit cards |
|
Opportunities |
Technological advancement in product offering |
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Restraints |
Increase in credit card frauds across the globe |
The specialty and other credit cards segment to maintain its leadership status throughout the forecast period.
Based on the product type, the general-purpose credit cards segment held the highest market share in 2022, accounting for more than four-fifths of the global credit card payments market revenue, as it offers an array of exclusive rewards and perks owing to which many credit card users are adopting premium cards. However, the specialty and other credit cards segment is projected to manifest the highest CAGR of 11.7% from 2023 to 2032, owing to higher credit or spending limits provided by the banks for these credit cards as compared to others.
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The travel and tourism segment to maintain its leadership status throughout the forecast period
Based on the application, the food and groceries segment held the highest market share in 2022, accounting for nearly one-fourth of the global credit card payments market revenue. This is attributed to several benefits provided by credit card payments such as shorter queues for transaction, improved customer satisfaction, ability to capture data on customer buying behavior, and surge in adoption of credit card payments in the retail sector. However, the travel and tourism segment are projected to manifest the highest CAGR of 13.0% from 2023 to 2032, owing to rise in adoption of credit card payment technologies such as NFC and RFID among travel and other tourism industries.
The master card segment to maintain its lead position during the forecast period
Based on brand, the visa segment accounted for the largest share in 2022, contributing to more than half of the global credit card payments market revenue, as it provides various benefits to their customers like Visa’s Zero Liability Policy, the cardholder will not be held responsible for unauthorized transactions made with their visa card. However, the master card segment is expected to portray the largest CAGR of 10.9% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, provides data, analytical, and cybersecurity services to merchants, individuals, and others which enhances the growth of the market.
Asia-Pacific maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around half of the global credit card payments market revenue, owing to the presence of prominent merchant banking service providers such as the U.S. Capital Advisors LLC; Bank of America Corporation; and JPMorgan Chase & Co across the region is anticipated to fuel the market’s growth. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.8% from 2023 to 2032 and is likely to dominate the market during the forecast period. The growth can be attributed to favorable demographics, rise in income levels, and growth in regional businesses.
Leading Market 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.,
The report provides a detailed analysis of these key players of the global credit card payments market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario
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Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the credit card payments market analysis from 2023 to 2032 to identify the prevailing credit card payments market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the credit card payments market segmentation assists to determine the prevailing credit card payments market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global credit card payments market forecast.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global credit card payments market trends, credit card payments market outlook, key players, credit card payments market segments, application areas, and market growth strategies.
Credit Card Payments Market Report Highlights
By Product Type
- General purpose credit cards
- Specialty and other credit cards
By Application
- Food and Groceries
- Health and Pharmacy
- Restaurants and Bars
- Consumer Electronics
- Media and Entertainment
- Travel and Tourism
- Others
By Brand
- Visa
- MasterCard
- Others
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
Key Market PlayersJPMorgan Chase & Co, Bank of America Corporation, Citigroup Inc., The PNC Financial Services Group, Inc., Mastercard Incorporated., USAA, Barclays PLC, American Express Company, Capital One, Synchrony Financial
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Fintech PR
Newmark Group’s Fourth Quarter and Full Year 2024 Financial Results Announcement to be Issued Prior to Market Open on Friday, February 14, 2025
Conference call scheduled for the same day at 10:00 a.m. ET
NEW YORK, Jan. 9, 2025 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, today announced the details of its fourth quarter and full year 2024 financial results press release and conference call. The Company plans to issue an advisory press release regarding the availability of its consolidated quarterly and full year financial results at 8:00 a.m. ET on Friday, February 14, 2025. Newmark’s advisory release will notify the public that a full-text financial results press release will be accessible at the following pages:
http://ir.nmrk.com (PDF version of the full press release, PDF of a quarterly results investor presentation, link to the webcast, and supplemental Excel financial tables)
https://www.nmrk.com/media (PDF version of the full press release only)
Newmark will host a conference call on Friday, February 14, 2025, at 10:00 a.m. ET to discuss its results.
|
WHO: |
Newmark Group, Inc. (Nasdaq: NMRK) |
|
WHAT: |
Fourth Quarter and Full Year 2024 Financial Results Conference Call |
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WHEN: |
Friday, February 14, 2025, at 10:00 a.m. ET |
|
WHERE: |
https://event.webcasts.com/starthere.jsp?ei=1703440&tp_key=629defdc2c |
For those who are unable to join the webcast, the Company expects to post dial-in information before the day of the call on the event’s page at http://ir.nmrk.com.
Webcast Replay
|
Expected Available From – To: |
02/14/2025 at 1:00 p.m. ET – 02/14/2026 at 11:59 p.m. ET |
|
Replay Link: |
https://event.webcasts.com/starthere.jsp?ei=1703440&tp_key=629defdc2c |
Note: If clicking the above links does not open a new webpage, you may need to cut and paste the URLs into your browser’s address bar.
ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of over $2.6 billion. As of September 30, 2024, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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- Piloted by 60 enterprise businesses including: Patagonia, On, Indeed, NordSecurity and Fubo
- AI helps businesses increase payment conversion rates by up to 6% compared to legacy implementations
NEW YORK, Jan. 9, 2025 /PRNewswire/ — Adyen, the global financial technology platform of choice for leading businesses, announces the launch of Adyen Uplift. The AI-powered payment optimization suite will help businesses increase payment conversion, simplify fraud management, and reduce the cost of payments. Adyen’s customers can utilize data-driven, tailored performance recommendations and opportunities to test different payment configurations to maximize performance.
Saving businesses from trading off between conversion, risk, and cost
The complexity of payment management still holds businesses back from reaching their ambitions. They constantly need to compromise between conversion, fraud, and cost. Thanks to Adyen Uplift, businesses can optimize the full payments funnel with AI. AI-powered payment optimizations bundled in a single product suite are trained on Adyen’s global transaction dataset. Rather than navigating the complexity of payments in operational silos, the AI-first approach uses risk-based intelligence and automated conversion optimization to help businesses get more out of payments. The pilot has shown a significant effect on profits, with businesses seeing an overall uplift of up to 6% on their payment conversion rate.
“Balancing risk management, driving conversion, and minimizing cost has always required ineffective compromises – until now” said Carlo Bruno, VP of Product at Adyen. “Adyen Uplift changes the game by unleashing the depth and power of AI to solve for real-time payment optimization. This will transform cost savings and performance, redefining business efficiency in 2025 and beyond.”
$1 trillion+ payments data
Businesses and other providers rely on limited datasets, impacting their ability to recognize shoppers and payment behavior. With Adyen Uplift, companies benefit from AI trained on over a trillion dollars worth of global payments data from Adyen’s single platform.
“We’ve increased our conversion rate by up to 2% with Adyen’s AI, making a real difference to both our performance and cost efficiency, while keeping fraud under control,” commented Luca Spichtig, Head of Digital Operations & Projects at On.
Adyen has processed payments for over one billion consumers globally, giving its AI solutions a strong basis to differentiate good shoppers from fraudsters. When an Adyen customer encounters a new shopper, there is a high likelihood that Adyen has seen the shopper elsewhere on the platform. For a retail merchant on the Adyen platform, there is more than a 90% chance that Adyen has seen that shopper before. When a good shopper is identified, AI optimizations allow them to speed through checkout whilst shoppers and retailers also benefit from precise payment fraud mitigation.
“We’ve increased our conversion rate on customer initiated transactions by 10% by leveraging Adyen’s AI technology, which optimizes the entire payment funnel while maintaining control over fraud and costs,” commented Kes Saulis, Head of Payments at Nord Security.
The AI-first approach to fighting fraud
Today, the fraud control process is highly complex, requiring businesses to implement extensive manual rules to combat ever-evolving fraud techniques. With Adyen Uplift, businesses can automate fraud control by removing the operational burden from fraud management teams. The solution automates and refines risk management without relying on manual rules. This enables businesses to lower fraud levels and reduce false positives, depending on their risk appetite.
Businesses piloting the risk product have seen the impact firsthand. Adyen’s pilot enterprise customers have reduced their manual risk rules by 86% on average, and 35% of customers have completely eliminated manual rules saving valuable time and resources.
Adyen’s customer Indeed, a leading job matching and hiring platform, was able to run AI-based optimization experiments that are tailored to the unique characteristics of its business. This translated into a reduction in operational workload by automating processes to drive efficiency.
Reduce payment processing costs by up to 5%
Today, businesses are more focused than ever on their bottom line, yet many still view payments as a commodity rather than a powerful cost-saving strategy.
Adyen Uplift has reduced payment cost by up to 5% for pilot customers in the U.S. Adyen’s AI selects the best routes with the best rates for transactions to help minimize total cost of payment. Pilot customers also experienced cost savings through Adyen’s optimizations, which tailored the shopper-facing checkout flow to their needs.
To learn more about Adyen Uplift, click here.
About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft. Adyen continuously improves and expands its product offering as part of its ordinary course of business. New products and features are announced via press releases and product updates on the company’s website.
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New logo reflects ability to power mission-critical decisions with confidence
LONDON, Jan. 9, 2025 /PRNewswire/ — Crisil Limited, a provider of ratings, data, research, analytics and solutions, today unveils its new brand logo.
The new brand identity, ‘Crisil’ (earlier written as CRISIL), reinforces the company’s position as a global, insights-driven analytics firm, building on a distinguished legacy of close to four decades.
Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.
Says Amish Mehta, Managing Director & CEO, Crisil, “Our reimagined brand expresses a more progressive vision of our future. It celebrates a pioneering and illustrious past and showcases our commitment to deliver actionable insights to clients. Our people’s analytical rigour and domain expertise will continue to set standards and empower clients to make mission-critical decisions with confidence. The new brand identity guides us in shaping how we present ourselves to the world, influencing every interaction internally and externally to help us deliver exceptional client value.”
The strategic brand transformation positions Crisil’s businesses — Crisil Ratings, Crisil Intelligence (formerly MI&A), Crisil Coalition Greenwich, and Crisil Integral IQ (formerly GR&RS) — under a cohesive identity that offers a consistent and more connected experience for clients around the world.
Crisil Ratings: Offers independent credit ratings in India that empower informed decisions and objective benchmarking by lenders, investors and issuers.
Crisil Intelligence: Offers insights, consulting, technology-driven risk solutions and advanced data analytics, serving clients across government, private and public enterprises, empowering them to make informed decisions.
Crisil Coalition Greenwich: Offers strategic benchmarking, analytics and insights to the financial services industry and specialises in providing unique, high-value and actionable information to help clients measure and drive their business performance.
Crisil Integral IQ: Offers solutions and actionable intelligence to financial institutions around the globe to deliver strategic transformation, optimise risk and drive operational excellence.
The main logo in bold black is simple yet strong, symbolising excellence and the certainty that we deliver. Complementing this, our business logos now feature a distinct teal colour that conveys the confidence and trust rooted in rigour and domain expertise.
About Crisil Limited
Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence.
Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.
Headquartered in India, Crisil is majority owned by S&P Global.
Founded in 1987 as India’s first credit rating agency, our expertise today extends across businesses: Crisil Ratings, Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ.
Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East, setting the standards by which industries are measured.
For more information, visit www.Crisil.com
Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK
Disclaimer
This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Crisil. However, Crisil alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.
Crisil has taken due care and caution in preparing this press release. Information has been obtained by Crisil from sources which it considers reliable. However, Crisil does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. Crisil especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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