Credit Card Market Report 2026

The credit card market size has grown marginally in recent years. It will grow from $106.67 billion in 2025 to $106.67 billion in 2026 at a compound annual growth rate (CAGR) of 0%. The growth in the historic period can be attributed to growth in consumer spending, expansion of banking services, rising acceptance of card-based payments, increasing financial inclusion efforts, development of global card networks.

The credit card market size is expected to see steady growth in the next few years. It will grow to $117.77 billion in 2030 at a compound annual growth rate (CAGR) of 2.5%. The growth in the forecast period can be attributed to increasing adoption of virtual credit cards, rising focus on ai-driven credit scoring, expansion of contactless and mobile card usage, growing demand for premium card benefits, increasing integration with digital wallets. Major trends in the forecast period include expansion of rewards and cashback programs, rising adoption of co-branded credit cards, growing use of digital credit card issuance, increased focus on credit builder products, enhanced personalization of card offerings.

The rising adoption of cashless transactions is expected to drive the growth of the credit card market in the coming years. Cashless transactions include any financial exchanges completed without the use of physical currency. The increase in cashless payments is largely driven by digital payment systems that provide quicker and more convenient purchasing options, minimizing the need to carry cash and simplifying day-to-day financial activities. Cashless payment methods support and encourage credit card usage by offering secure, flexible, and user-friendly payment solutions. For example, in April 2025, Finextra, a UK-based funded company, reported that in 2024, 94.6% of all eligible in-store card transactions were conducted using contactless methods, up from 93.4% in 2023, reflecting wider consumer adoption. As a result, the growing prevalence of cashless transactions is contributing to the expansion of the credit card market.

Major companies operating in the credit card market are introducing cards with digital wallet-enabled virtual cards to improve their market offerings and customer service experience. A digital wallet-enabled virtual card is a type of payment card that exists digitally within a mobile wallet or a digital payment app. For example, in November 2023, National Australia Bank, an Australia-based financial services provider, launched a new plastic-free virtual corporate credit card. This innovative solution streamlines and modernizes business expenses by enabling organizations to create virtual cards for employees and contractors instantly. These virtual corporate credit cards can be used for payments in apps, online platforms, or physical stores, regardless of the user's location. The card includes advanced security measures that ensure spending is pre-controlled, with all transactions pre-approved and unauthorized activities blocked.

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.

Major companies operating in the credit card market are 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 2025. Western Europe was the second largest region in the credit card market. The regions covered in the credit card market report are Asia-Pacific, South East Asia, 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, Taiwan, 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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