The report “Global Commercial and Corporate Cards Market, By Application (Payments, Clearing and settlement, Digital identity, and Documentation), By End-User (Banking Sector, Insurance Sector, Financial Institutes, Government and Public Sector, Retail and Ecommerce Sector, and Automotive Sector), and Region – Global Forecast to 2029″ Global commercial and corporate cards market is projected to grow from US$ XX billion in 2019 to US$ XX billion by 2029. Global commercial and corporate cards market is driven by increasing trend of digitalization among individuals in developed and developing countries across the globe. In addition, rise in business travel expenditure is another key factor anticipated to fuel growth of the global market over the forecast period. Rising preference for electronic payment option due to its various characteristics such as no need to carry cash, instant money transfer, highly and secure way of transaction, is propelling growth of the global commercial and corporate cards market. In addition, increasing awareness among working individuals across the globe, coupled with rising online transactions options for various type of payment process are major factors driving growth of the global market. Nevertheless, the global market is creating an opportunity to drive growth due to increasing spending level on commercial and corporate cards to increase their adoption. Government policies to reduce interchange fees will also help merchants to increase acceptance of commercial and corporate cards.
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- In July 2019, American Express Company has planned to helping U.S. small businesses by saying ‘yes’ to growth opportunities and has launched Blue Business Cash Card. It has offers 2% cash back on eligible purchases automatically credited to our statement and has no annual fees, and also expands buying power by helping business owners to manage cash flow.
- On July 2019, UnionPay International (UPI) has announced its card issuance partnership with ACLEDA, the largest card issuer in Cambodia. This partnership serves as a good example for UPI’s increasing business localization in Cambodia.
Key Market Insights from the report:
The global commercial and corporate cards market accounted for US$ XX billion in 2019 and is projected to register a moderate CAGR of XX% over the forecast period. The market report has been segmented on the basis of application, end-user, and region.
- By application, the global commercial and corporate cards market is segmented into payments, clearing and settlement, digital identity, and documentation.
- By end-user, the global commercial and corporate cards market is classified into banking sector, insurance sector, financial institutes, government and public sector, retail and ecommerce sector, and automotive sector.
- By Region, North America dominates the global market in terms of revenue, owing to high usage of various cards such as gift cards, business cards, and purchase cards in this region. Rising trend of digitalization, rising travel and entertainment expenses in countries such as US and Canada also leads to dominate global market in North America. The global market in Asia Pacific is expected to register significant growth followed by the global market in Europe over the forecast period. In addition, growing awareness among individuals and rising corporate cards and commercial cards service providers in countries such as Brazil, South Africa, and Israel in Latin America, and Middle East & Africa region are expected to result in average growth in terms of revenue during the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Commercial and corporate cards Market”, By Application (Payments, Clearing and settlement, Digital identity, and Documentation), By End-User (Banking Sector, Insurance Sector, Financial Institutes, Government and Public Sector, Retail and Ecommerce Sector, and Automotive Sector), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – forecast till 2029
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The prominent player operating in the global commercial and corporate cards market includes American Express Company, AirPlus International, Ltd., Amazon.com, Inc., Bank of America Corporation, Union Pay International Co., Ltd., Citigroup Inc., FleetCor Technologies Inc., JCB Co., Ltd, JPMorgan Chase & Co., and PayPal Holdings, Inc.