The latest report by IMARC Group, titled “Credit Card Payment Market Report by Card Type (General Purpose Credit Cards, Specialty Credit Cards, and Others), Provider (Visa, Mastercard, and Others), Application (Food and Groceries, Health and Pharmacy, Restaurants and Bars, Consumer Electronics, Media and Entertainment, Travel and Tourism, and Others), and Region 2025-2033,” finds that the global credit card payment market size reached USD 690.6 Billion in 2024. A credit card is a payment tool issued by financial institutions with a pre-set credit limit that allows cardholders to make purchases without using cash at the point of sale. It helps increase the purchasing power of individuals by allowing individuals to pay the charges accrued as a balance on a monthly billing cycle. It also creates a credit score for loans and mortgages, provides cashback, miles points and zero foreign transaction fees, and offers protection against fraudulent activities. As a result, there has been a significant increase in the number of credit card payments across the globe.
Global Credit Card Payment Market Trends:
The market is primarily driven by the escalating demand for cash alternatives for making payments. In addition, the widespread availability of affordable credit cards represents another major growth-inducing factor. Besides this, individuals use credit cards to purchase laptops, televisions (TV), smartphones, travel packages, and jewelry. This, coupled with various advancements in blockchain technology that offer higher security, is positively influencing the market growth. Moreover, the growing popularity of special credit cards offered by enterprises to their employees for keeping records of travel, food, accommodation, and inventory is creating a positive market outlook across the globe. Furthermore, the increasing research and development (R&D) activities to offer enhanced digital prepaid card services have encouraged individuals to opt for credit card payments. Furthermore, rapid urbanization in developing economies and the rising product adoption in food, grocery, healthcare, hospitality, electronics, media and entertainment, travel, and tourism industries are some of the other factors augmenting the market growth. Looking forward, IMARC Group expects the market to reach USD 1,316.4 Billion by 2033, expanding at a CAGR of 6.66% during the forecast period (2025-2033).
Market Summary:
- Based on the card type, the market has been classified into general-purpose, specialty, and other credit cards.
- On the basis of the provider, the market has been segregated into Visa, Mastercard, and others.
- Based on the application, the market has been categorized into food and groceries, health and pharmacy, restaurants and bars, consumer electronics, media and entertainment, travel and tourism, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being American Express Company, Bank of America Corporation, Barclays PLC, Capital One Financial Corporation, Citigroup Inc., JPMorgan Chase & Co., Mastercard Inc., Synchrony, The PNC Financial Services Group Inc., United Services Automobile Association and Visa Inc.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2024 |
Historical Period |
2019-2024 |
Forecast Period |
2025-2033 |
Units |
Billion USD |
Segment Coverage |
Card Type, Provider, Application, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
American Express Company, Bank of America Corporation, Barclays PLC, Capital One Financial Corporation, Citigroup Inc., JPMorgan Chase & Co., Mastercard Inc., Synchrony, The PNC Financial Services Group Inc., United Services Automobile Association and Visa Inc. |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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