Global Cards Market Report 2021-2025 & Long-term Forecast to 2030

Strategic Insights -

The global cards market is expected to continue its growth trajectory, driven by increasing demand for credit cards and digital prepaid card services in emerging economies. Despite the challenges posed by the COVID-19 pandemic, the market is expected to reach $225.95 billion in 2025 at a compound annual growth rate (CAGR) of 1.6%. Major players in the market include Citibank, Mastercard Incorporated, and Visa Inc., which are collaborating with companies like Grab Holdings, Inc. to offer innovative payment solutions.

Key Takeaways:

  • The global cards market size is expected to grow from $205.45 billion in 2020 to $212.23 billion in 2021, at a CAGR of 3.3%.
  • The market is expected to reach $225.95 billion in 2025, with a CAGR of 1.6%.
  • The growing demand for digital prepaid card services is driving growth in the market, with companies like Grab Holdings, Inc. launching new cards in collaboration with Mastercard.
  • The acquisition of Physical Prepaid Card Portfolio of Barclaycard by Prepaid Financial Services Limited in March 2019 enabled the expansion of service offerings to existing and future Payroll and Corporate clients.
  • Credit card debts and the number of accounts increased by 40.7% and 29.8% respectively in 2019, contributing to the growth of the cards market.
  • However, the increasing incidences of fraudulent transactions, with global fraud losses totaling $27.85 billion in 2018, are expected to hamper the growth of the cards market.

Statistics:

  • The global cards market size is expected to grow from $205.45 billion in 2020 to $212.23 billion in 2021, at a CAGR of 3.3%.
  • The market is expected to reach $225.95 billion in 2025, with a CAGR of 1.6%.
  • Credit card debts and the number of accounts increased by 40.7% and 29.8% respectively in 2019.
  • Global fraud losses totaled $27.85 billion in 2018 and are expected to grow to $35.67 billion in five years and $40.63 billion in the next 10 years.

Sources:

  • Global Cards Market Report 2021: COVID-19 Impact and Recovery to 2030 (ResearchAndMarkets.com, May 2021)
  • "Cards Market Characteristics" section of the report
  • "Impact of COVID-19 on Cards" section of the report
  • "Cards Market Size and Growth" section of the report
  • "Cards Market Segmentation" section of the report
  • "Cards Market Regional and Country Analysis" section of the report
  • Companies mentioned in the report, including Citibank, Mastercard Incorporated, The American Express Company, Visa Inc., JPMorgan Chase & Co., Kaiku Finance LLC, Mango Financial Inc., Green Dot Corporation, NetSpend Holdings, PayPal Holdings, BBVA Compass Bancshares, UniRush, HDFC Bank Ltd., SBI Cards and Payment Services Limited, ICICI Bank Limited, Axis Bank Limited, Bank of Baroda, Capital One Financial Corporation, The Bank of America Corporation, Wells Fargo, Discover Bank, Total System Services Inc., The PNC Financial Services Group Inc., TSYS, Ebay, and The Western Union Company.