The Credit Card Issuance Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Credit Card Issuance Services Global Market Report 2024, The credit card issuance services market size has grown strongly in recent years. It will grow from $478.09 billion in 2023 to $522.22 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to consumer spending patterns, financial inclusion initiatives, economic growth, loyalty programs, regulatory changes.

The credit card issuance services market size is expected to see strong growth in the next few years. It will grow to $717.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to contactless payment adoption, data security concerns, emergence of cryptocurrencies, rise of embedded finance, customization and personalization. Major trends in the forecast period include biometric authentication, integration with financial wellness services, real-time payment processing, blockchain for security, ai and predictive analytics.

The rise in credit card demand is expected to propel the growth of the credit card issuance services market going forward. A credit card refers to a credit product banks offer that enables users to take out loans up to a pre-approved credit limit. Credit card issuers play an essential role in processing card transactions, paying back previously approved purchases, and handling chargeback requests. For instance, in February 2023, according to the Federal Reserve Bank of New York, a US-based federal bank responsible for the second district of the Federal Reserve System, in the fourth quarter of 2022, credit card balances increased by $61 billion to $986 billion in the USA, exceeding the pre-pandemic peak of $927 billion. Therefore, the rise in credit card demand is driving the growth of the credit card issuance service market.

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The credit card issuance services market covered in this report is segmented –
1) Credit Card Issuance Services Market By Type: Consumer Credit Cards, Business Credit Cards
2) Credit Card Issuance Services Market By Issuers: Banks, Credit Unions, Non-Banking Financial Companies
3) Credit Card Issuance Services Market By End-User: Personal, Business

Technological advancements are a key trend gaining popularity in the credit card issuance service market. Major companies operating in the credit card issuance service market are developing new technologies to sustain their position in the market. For instance, in February 2021, Marqeta Inc., a US-based modern card issuing platform, launched a new API-driven credit card issuing platform, providing innovators with the opportunity to launch next-generation credit card programs and enable customers to customize credit card goods in a fraction of the time with more adjustable restrictions and features. Depending on unique criteria, companies will have a modern credit record system that can alter account settings like rewards, APR (annual percentage rate), and credit lines in real-time. Marqeta’s card-issuing platform and Deserve’s digital card expertise will contribute to further innovation in the credit sector and improve consumer card experiences. Deserve Inc. is a US-based mobile-first credit card platform.

The credit card issuance services market report table of contents includes:

1. Executive Summary

2. Credit Card Issuance Services Market Characteristics

3. Credit Card Issuance Services Market Trends And Strategies

4. Credit Card Issuance Services Market - Macro Economic Scenario

5. Global Credit Card Issuance Services Market Size and Growth

.....

32. Global Credit Card Issuance Services Market Competitive Benchmarking

33. Global Credit Card Issuance Services Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Credit Card Issuance Services Market

35. Credit Card Issuance Services Market Future Outlook and Potential Analysis

36. Appendix

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