It takes money to make money, at least in the payment cards and service industry. It also takes Freedonia research. Payment cards are a major business that has become even more important in the wake of the pandemic, when fears of transmission and national coin shortages led to restrictions on use of cash as currency. However, rising competition from electronic forms of payment poses as a threat to the industry.
Our analysts work closely with leaders in financial services industry to provide accurate market assessments into consumer financial trends, assessing these risks and more.
Globally, commercial card products are a trillion-dollar payments industry. In the US, card issuers and their networks continue to target the $25 trillion in payments companies make each year.
The largest categories of commercial cards are purchase cards (also known as P-cards, procurement cards, or payment cards) and corporate cards, which are used for travel and entertainment expenses. Other types of commercial cards include one cards, fleet cards, prepaid cards, declining balance cards, virtual cards, and ghost cards.
Credit cards have come out of the pandemic stronger than ever:
This report forecasts from 2023 to 2026 US general-purpose credit card payment value in nominal US dollars.
Advisors and wealth managers have pivoted their strategies as they respond to the mutability of wealth and the wealthy.
Gen Z, much more than Millennials at the same age, appears less willing to abandon debit and short-term buy-now, pay-later (BNPL) installment loans (with low or zero percent interest rates) as their tools for purchasing and financing purchases.
This report forecasts from 2021 to 2025 the Canadian credit card market in Canadian dollars.
The payments landscape remains altered with regard to where consumers spend their money, the channels used for spending money, and how consumers choose and interact with their payment products.
Within the commercial card industry, product line extensions are a key driver of adoption and revenue, as is the continuing displacement of legacy payment products.
This report provides US co-branded credit card purchase trends in nominal US dollars.
The report analyzes the impact of COVID-19 on the retail and travel sectors and on the co-branded credit card market, the going-forward strategies of top co-branded card issuers, key retailer programs and initiatives, and consumer use of co-branded cards.