Credit Card Issuance Services Market Report 2025

The credit card issuance services market size has grown strongly in recent years. It will grow from $520.01 billion in 2024 to $567.83 billion in 2025 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, and regulatory changes.

The credit card issuance services market size is expected to see strong growth in the next few years. It will grow to $787.39 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to contactless payment adoption, data security concerns, the emergence of cryptocurrencies, the 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, and AI and predictive analytics.

The anticipated growth in the credit card issuance services market is expected to be driven by an increasing demand for credit cards. Credit cards, offered by banks as credit products, enable users to access loans up to a pre-approved credit limit. Credit card issuers play a crucial role in processing card transactions, managing repayments for approved purchases, and handling chargeback requests. For example, in February 2023, the Federal Reserve Bank of New York reported that credit card balances in the USA rose by $61 billion to reach $986 billion in the fourth quarter of 2022, surpassing the pre-pandemic peak of $927 billion. Consequently, the upsurge in credit card demand is a key factor propelling the growth of the credit card issuance services market.

The expansion of e-commerce is poised to contribute to the growth of the credit card issuance services market in the foreseeable future. E-commerce, denoting electronic commerce, involves the online exchange of products and services. Credit cards enhance the convenience, security, and flexibility of e-commerce transactions, aligning with the increasing trend and popularity of online shopping. As of November 2023, according to the United States Census Bureau, e-commerce sales are projected to increase by 7.6 percent (1.2%) compared to the same period in 2022, with total retail sales increasing by 2.3 percent (0.4%). E-commerce sales are expected to constitute 15.6 percent of overall revenues in the third quarter of 2023. Hence, the surge in e-commerce growth remains a driving force behind the credit card issuance services market.

Technological advancements are a significant trend gaining traction in the credit card issuance service market. Major companies in this sector are developing new technologies to maintain their competitive edge. For example, in April 2024, AU Small Finance Bank, an India-based banking institution, launched two new credit cards: the Secured Credit Card - NOMO (No Missing Out) and the AU SPONT Rupay Credit Card. The NOMO Credit Card is aimed at individuals who may not qualify for traditional unsecured credit cards due to reasons such as a lack of credit score, limited credit history, or insufficient proof of income. It offers distinctive benefits, including reward points, fuel surcharge waivers, and airport lounge access. Meanwhile, the Rupay Credit Card is notable for allowing users to link it to their preferred UPI-enabled app, facilitating seamless payments through the UPI Scan and Pay feature. Additionally, it provides 1% cashback on most transactions and COINS rewards for UPI transactions made via the AU 0101 application, making it accessible to customers across all income levels.

Major companies in the credit card issuance services market are adopting a strategic partnership approach to enhance credit access for newcomers. Strategic partnerships involve leveraging the strengths and resources of different companies for mutual benefits. In September 2023, HSBC UK Bank Plc, a UK-based banking and financial services organization, announced a partnership with Nova Credit, a US-based cross-border credit bureau. This partnership enables immigrants to include their overseas credit history when applying for a credit card with HSBC UK. The collaboration with Nova Credit, the world's first cross-border credit agency, allows newcomers in the UK to utilize their overseas credit history efficiently and at no cost when applying for an HSBC UK credit card. Customers applying for an HSBC UK credit card online can share their credit history from a growing list of 12 countries, including the United States, Brazil, Canada, Australia, the Dominican Republic, Kenya, India, Mexico, Nigeria, the Philippines, Switzerland, and Spain.

In March 2023, Clal Insurance, an Israel-based insurance company, acquired Max Credit Card for $687 million. This acquisition allows Clal Insurance to establish a presence in the Israeli credit market, strengthening its position in the consumer credit sector. Max will be integrated into Clal's operations, becoming a part of its insurance and finance business, thereby enhancing competition in the market. Max is a provider of credit card insurance based in Israel.

Major companies operating in the credit card issuance services market include JPMorgan Chase & Co., Bank of America Corporation, Citigroup Inc., American Express Company, HSBC Holdings plc., Toronto-Dominion Bank Group, Goldman Sachs Group Inc., Capital One Financial Corporation, Barclays Bank PLC, U.S. Bancorp, Standard Chartered PLC, PNC Financial Corp., Fiserv Inc., Synchrony Financial, Fidelity National Information Services Inc., Stripe Inc., Wells Fargo & Co., Fifth Third Bank NA, Navy Federal Credit Union, Huntington Bancshares Incorporated, Santander Bank N.A., Giesecke+Devrient GmbH, Synovus Financial Corp., Penfed Federal Credit Union, Marqeta Inc., Entrust Corporation, Comenity Bank, Nium Pte. Ltd.

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

Credit card issuance services involve providing individuals or entities with credit cards, enabling them to make purchases on credit and repay the borrowed funds over a period, often accompanied by additional interest and fees.

The primary categories of credit card issuance services include consumer credit cards and business credit cards. Consumer credit cards are designed for short or medium-term loans, facilitating payments for personal use, acquiring goods or services, or settling debts related to such purposes. These services are offered by various issuers, including banks, credit unions, and NBFCs, catering to a diverse range of end-users, encompassing both personal and business needs.

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

The credit card issuance services market includes revenues earned by entities by providing services such as application processing, credit assessment, card production, card activation and delivery, and customer support. 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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