Credit Cards Strategies: Innovation Analysis, Digital Transformation & Market Forecasts 2023-2027

• Market Dynamics: Provides a detailed assessment of market drivers and the key market trends within the credit cards market, as well as an in-depth evaluation of the future growth of the market and readiness for further disruption. This enables readers to understand the innovations driving this market forward.
• Innovation Analysis: Analysis of how credit cards are being advanced by frequent new developments; transforming the market. Key innovations covered include:
  • Digital loyalty programmes and their use within the credit cards market
  • White-label credit cards
  • Virtual credit cards
  • Digital card issuance platforms for credit cards
• Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 15 credit card platform providers; positioning them as either established leaders, leading challengers, or disruptors and challengers. Our Competitor Leaderboard scores these companies on their size of operations in the credit cards space, their extent and breadth of market partnerships, the sophistication of their platforms and Juniper Research’s view on each company’s innovation and future business prospects. The company profiles included in Juniper Research’s Credit Card Platform Competitor Leaderboard are the following major players:
  • American Express
  • Discover
  • Enfuce
  • FIS
  • Fiserv
  • GlobalPayments
  • Green Dot
  • Marqeta
  • Mastercard
  • Modulr
  • Paynetics
  • Stripe
  • Thales
  • UnionPay
  • Visa
• Benchmark Industry Forecasts: 5-year forecasts for the credit cards market, including the number of credit cards that have been issued, transaction volume and value, split by personal and corporate cards, as well as the number of cards including loyalty rewards and the monetary value of these rewards. Also included is the number of credit cards issued by digital issuance platforms, as well as the associated revenue for digital platform vendors. This data is also split by our 8 key regions and 60 countries as follows:
  • North America:
    • Canada, US
  • Latin America:
    • Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
  • West Europe:
    • Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
  • Central & East Europe:
    • Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
  • Far East & China:
    • China, Hong Kong, Japan, South Korea
  • Indian Subcontinent:
    • Bangladesh, India, Nepal, Pakistan
  • Rest of Asia Pacific:
    • Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
  • Africa & Middle East
    • Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates

1. What will the total value of the credit cards market be in 2027?
2. How is digital issuance and transformation changing the credit cards market?
3. What role will white-label credit cards play in the evolving market landscape?
4. Where are the biggest opportunities for vendors in this market?
5. Who are the leading vendors in the credit cards market?

Case Studies: Entrust, Walmart.
 
Included in the Juniper Research Competitor Leaderboard: American Express, Discover, Enfuce, FIS, Fiserv, GlobalPayments, Green Dot, Marqeta, Mastercard, Modulr, Paynetics, Stripe, Thales, UnionPay, Visa.
 
Mentioned: 7Eleven, 83North, A1 Wallet, Abstract Labs LLC, ADAC Carpool Club, Affirm, AFS, Agricultural Bank of China, Aiia, Alipay, Allianz X, Allied Bank, AlliedWallet, Andreessen Horowitz, Ant Group, Antelop Solutions, Apple, Ascenda, AXA Group, Baillie Gifford, Baltic Banking, BANCOMAT, Bank Liberty, Bank of America, Bank of Beijing, Bank of Canada, Bank of China, Bank of England, Barclays, Bayer, BBVA, BC Card, Bill and Melinda Gates Foundation, billbutler, BlaBlaCar, Blenheim Chalcot, BNP Paribas, Booking.com, Bosh, Bouncer, BPay Group, British Airways, Bulgarian American Credit Bank, Burger King, Capital on Tap, Capital One, Cartes Bancaires, Certify, Chime, Chime Financial, China Construction Bank, ChromeRiver, CIBC (Canadian Imperial Bank of Commerce), CipherTrace, Citi, Commonwealth Bank, Counterpart Advisors, Crédit Agricole, Credit Suisse, Crowdcube, CurrencyCloud, CVS Pharmacy, Deliveroo, Depop, Digipay, Dimo, Duo Bank Canada, Eftpos, Ekata, ekko, equensWorldline, Ethos VC, Etisalat, Europay, EVO Payments, Expensify, Experian, Extend, Federal Reserve Bank of New York, Fidelity Management and Research Company, Finnvera Venture Capital, Finxact, First Abu Dhabi Bank, First Data, Ford, Frog Capital, General Atlantic, Gig Wage, Go2bank, Goldman Sachs, Google, GPS, Grab, Green Dot, H&M, Highland Europe, IDEMIA, indó, Infor, Intel, Interac, Intuit, JBC, JPMorgan Chase, KeyBanc Capital Markets, Kickstarter, Kineto, KIR (Krajowa Izba Rozliczeniowa S.A.), Klarna, Kleiner Perkins, Klip, LähiTapiola, LEVERIS, LianLian DigiTech Co. Ltd, Liberis, Lydia, Magento, Maki.vc, Mambu, MAN Truck and Bu, Manhattan West Asset Investment, MayBank, McAfee, Memo Bank, MercadoLibre, Micro Credit, Microsoft, Mineral Tree, MobileExpense, Money Charity, MoneyGram, Morgan Stanley Group, Inc, My Rewards, National Australia Bank, National Capital Bank, National Treasury Management Agency, New Vision 3, Nordea, NPCI, NuBank, OnDot, Onfido, OP Financial Group, OpenCart, OpenChannel, Pax2Pay, Pay Vivacom, payhawk, PayNet, PayPal, PayPay, Payrix, PayU, PayU, PBOC (People’s Bank of China), phos, phyre, PIX, Plaid, Pleo, Poste Italiane , PostFinance, Qred, Rabobank, Rakuten, RBC (Royal Bank of Canada), Recko, Refugee Action, Republic Bank, Revolut, Ripple, Rocker, Rudolph Brooks Federal Credit Union, RuPay, Sage, Salary Finance, Santander, SAPConcur, Save the Children, Scotiabank, SEPA, Sequoia Capital, Serko, Shopify, ShopWare, ShopWired, SIBS, Síminn, Skrill, Société Générale, Sodexo, SoFi, SoftBank, Softspace, Square, Staley Credit Union, Standard Bank, Standard Chartered, Starbucks, Swedbank, SWIFT, Synchrony Bank, Target, TaxJar, TBI Bank, Temenos, Tencent, Tiger Global Management, Tink, Transfast, TransUnion, Troy, TSYS, Twitter, TYDEi Health, Uber, UnionPay, Venmo, Verve, Vika Ventures, Vitruvian Partners, Vocalink, Volkswagen, weavr, WeChat, Wells Fargo, WhatsApp, Wise, WooCommerce, WorldPay, Yapeal, Zelle, Zumo.
 
 

The Credit Card Strategies data includes 5-year forecasts for the credit cards market, including the number of credit cards that have been issued, transaction volume and value. This is split by personal and corporate cards. The forecast also includes the number of cards featuring loyalty rewards and the monetary value of these rewards. In addition, the forecast suite contains the number of credit cards issued by digital issuance platforms, as well as the associated revenue for digital platform vendors.

Geographical splits: 60 countries
Number of tables: 50 tables
Number of datapoints: Over 22,800 datapoints

harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform; enabling clients to better understand key data trends and manipulate charts and tables; overlaying different forecasts within the one chart – using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.
 

The number of credit cards issued via digital card issuance platforms will exceed 321 million globally by 2027, from 120 million in 2023. This growth of almost 170% reflects the use of new advanced digital capabilities, such as digital loyalty schemes and instant issuance, as card issuers aim to combat competition, including buy now pay later.

• Credit cards will account for over $9.7 trillion in spend globally by 2027. This represents a significant opportunity for card issuers to drive revenue growth by choosing the optimal credit card strategy. Rising affluence in emerging markets will be a significant driver of credit card adoption. As such, digital card issuance platforms are critical to delivering credit offerings in these mobile wallet-dominated markets.
• In emerging markets, the ability to instantly issue digital cards will be a key factor in users choosing credit cards over other payment methods. Card issuance platform vendors must ensure localisation to enable cards to be quickly pushed to the wallets popular in each market.
• By 2027, the monetary value of rewards for users from credit card use will reach $103 billion globally, driving overall adoption. Card issuers should focus on app-based loyalty to maximise the appeal of these rewards; partnering with well-connected digital loyalty programme providers to maximise their appeal. If issuers fail to do this, they will lose out to better-connected vendors in a highly competitive credit cards market.