Credit Card Market Report 2025

This Credit Card market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The credit card market size has grown marginally in recent years. It will grow from $105.39 billion in 2024 to $106.67 billion in 2025 at a compound annual growth rate (CAGR) of 1.2%. The growth in the historic period can be attributed to consumer spending patterns, rewards programs and incentives, ease of transactions and accessibility, online shopping and e-commerce growth, travel and international transactions.

The credit card market size is expected to see marginal growth in the next few years. It will grow to $114.55 billion in 2029 at a compound annual growth rate (CAGR) of 1.8%. The growth in the forecast period can be attributed to contactless payment adoption, security and fraud protection features, integration with mobile wallets, innovative card designs and personalization, emergence of buy now, pay later (BNPL). Major trends in the forecast period include personalized rewards programs, focus on sustainability, and integration of artificial intelligence, flexible payment options, regulatory compliance and data security.

The credit card market is anticipated to experience growth in the forecast period due to the increasing demand for credit cards. The surge in consumer credit demand and the attractive benefits associated with credit cards are motivating individuals to utilize them. According to the Equifax Quarterly Consumer Credit Demand Index of June 2022, the demand for credit cards in Australia rose by 6% compared to June 2021, contributing to an overall consumer credit demand growth of 10.2% from June 2021. Consequently, the heightened demand for credit cards is a driving force behind the expansion of the credit card market.

The Credit Card market is expected to be driven further by the increasing prevalence of cashless transactions. Cashless transactions, which involve completing monetary transactions without physical cash exchange, promote the use of credit cards by offering convenient, secure, and versatile payment options. In March 2022, the Reserve Bank of India reported a surge in digital payments in India, particularly through the widespread use of UPI for routine transactions. The Digital Payment Index (DPI) increased to 349.3 in March 2022 from 304.06 in September 2021. Notably, more than 46 billion transactions totaling over Rs 84.17 trillion were processed using UPI in FY22. Hence, the growth of cashless transactions is a significant driver for the credit card market.

Leading companies in the credit card market are increasingly adopting strategic partnerships to enhance technology integration and broaden their market reach. Strategic partnerships allow organizations to leverage each other’s strengths and expertise for mutual benefit. For instance, in June 2023, Federal Bank Limited, a private-sector bank based in India, partnered with Scapia Technology Private Limited, an Indian fintech company, to launch the Federal Scapia Co-branded Credit Card. This card offers lifetime free membership, waiving any initial or annual fees, and features contactless payment options with the "Tap and Pay" feature for seamless transactions. Usable in over 150 countries and accepted by over one million Visa merchants, the card allows holders to earn Scapia Coins with a 4% reward rate on travel bookings made through the Scapia app, enhancing value for frequent travelers and online shoppers alike.

Innovation is also evident in the credit card market through the development of subscription-based credit cards by major companies. Subscription-based credit cards, offering ongoing benefits or rewards for a regular subscription fee, are introduced to cater to larger customer bases, boost sales, and increase revenue. TD Bank N.A., a US-based bank, launched two new credit cards, TD Clear and TD FlexPay, in May 2023. TD Clear operates as a subscription-based credit card with a simple monthly fee and no interest. On the other hand, TD FlexPay enhances flexibility by allowing cardholders to schedule an annual Skip a Payment. This move represents TD Bank's significant investment in the credit card sector, introducing new card options and improving existing products to enhance the overall customer experience.

In February 2023, Marqeta Inc., a U.S.-based technology company specializing in card and payment solutions for businesses, acquired Power Finance Corporation Inc. for $223 million. This acquisition is aimed at enhancing and accelerating Marqeta's credit product offerings. By integrating Power's advanced technology and data science capabilities, Marqeta intends to provide customers with an expanded portfolio of innovative credit products and services, ultimately strengthening its competitive position in the credit card and payments market. Power Finance Corporation Inc. operates as a U.S.-based credit card program management platform, specializing in creating and managing credit card solutions.

A payment card, known as a credit card, is issued by a bank or financial services company, enabling cardholders to make purchases with the flexibility of repaying the amount at a later time.

Credit cards come in various types, such as reward cards, credit builder cards, travel credit cards, balance transfer cards, and others. A reward card, for instance, grants specific rewards to the cardholder based on accumulated reward points, along with special offers that can be redeemed using these points. The card categories include base, signature, and platinum. Different service providers, including Visa, Mastercard, Rupay, and others, are involved in offering these cards.

The credit card research report is one of a series of new reports that provides credit card statistics, including credit card industry global market size, regional shares, competitors with credit card share, detailed credit card segments, market trends and opportunities, and any further data you may need to thrive in the credit card industry. This credit card research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Major companies operating in the credit card market include SBI Card and Payment Services Limited, JPMorgan Chase & Co., Bank of America Corporation, Citigroup Inc., Wells Fargo & Company, American Express Company, Capital One Financial Corporation, TD Bank N.A., Barclays plc, U.S. Bancorp, Truist Financial Corporation, The PNC Financial Services Group Inc., HDFC Bank Ltd., ICICI Bank Limited, Synchrony Financial, Discover Financial Services, SunTrust Banks Inc., Axis Bank Limited, Navy Federal Credit Union, BBVA Compass Bancshares Inc., Bank of Baroda, Pentagon Federal Credit Union, First National Bank of Omaha, Credit One Bank, Merrick Bank Corporation, Comenity Capital Bank, First Premier Bank, Applied Bank.

Asia-Pacific was the largest region in the global credit card market share in 2024. Western Europe was the second largest region in the credit card market. The regions covered in the credit card market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the credit card market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The credit card market consists of revenues earned by entities that are engaged in storing, processing and transmitting credit card data. Credit cards are payment cards issued by banks and financial institutions that can be used to borrow funds. Credit cards are mostly used for short-term financing of consumer goods and services. The credit limit is preset depending on the borrower’s credit rating and credit cardholders are charged interest each month by the credit card provider. Revenue generated from the cards market include all processing and service fees levied by banks and financial institutions for processing card-based payments. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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