Top Companies in Credit Card Payment Market | Major Players In-depth Overview by VMR
Credit Card Payment Market to Reach Valuation of USD 732.8 Billion by 2028 - Increasing Adoption of Online Shopping across Various End-Use Industries to Bloom Market
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Upcoming Trends in Credit Card Payment Market
The Global Credit Card Payment Market is valued at USD 477.5 Billion in 2021 and is projected to reach a value of USD 732.8 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 7.4% over the forecast period. Credit card processing companies will continue to be a key driver in the payments ecosystem with Credit Card Payments set to remain the largest in-store payment type by volume forecasted to reach USD 1.82 trillion in annual volume by 2024. The rise in demand for cash alternatives and the availability of affordable credit cards across the globe boost the growth of the global Credit Card Payments market size.
In addition, the rise in demand for credit cards among developing nations positively impacts the growth of the market. However, factors such as an increase in credit card frauds across the globe are expected to hamper the Credit Card Payments market growth. On the contrary, technological advancements in product offerings like using blockchain for increased security are expected to offer remunerative opportunities for the expansion of the market during the forecast period.
Some of the key players operating in the credit card payment market are listed below:
|
Company Name |
Revenue in USD |
|
$43 Billion |
|
$93 Billion |
|
$29 Billion |
|
$32 Billion |
|
$75 Billion |
|
$130 Billion |
|
$18 Billion |
|
$9 Billion |
|
$20 Billion |
|
$36 Billion |
The American Express Company is an American multinational corporation specializing in payment card services headquartered at 200 Vesey Street in the Battery Park City neighborhood of Lower Manhattan in New York City. The company was founded in 1850 and is one of the 30 components of the Dow Jones Industrial Average. The company is listed as AXP (NYSE) on New York Stock Exchange.
The Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco and took its present form when NationsBank of Charlotte acquired it in 1998. The company is listed as BAC (NYSE) on New York Stock Exchange.
Barclays is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. The company generates revenue of USD 287.5 billion in 2021 and has 83,000 employees working. The company is listed as BARC (LON) on the London stock exchange.
Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States. The company is listed as COF (NYSE) on the New York stock exchange. In 2020, the company generated revenue of 260.3 billion and has around 53,000 employees working across the globe.
Citigroup Inc. or Citi is a US-American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. The company is listed as C (NYSE) and generates USD 718.8 billion in 2021. The company has 2, 10,000 employees working across the globe.
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. The company is listed as JPM (NYSE) on the New York stock exchange. The company generated revenue of USD 121.65 billion on 2021
Mastercard Inc. is an American multinational financial services corporation headquartered in the Mastercard International Global Headquarters in Purchase, New York. The Global Operations Headquarters is located in O'Fallon, Missouri, a municipality of St. Charles County, Missouri. In 2021, the company had 24,000 employees working across its major locations worldwide. The company has various subsidiaries such as Access Prepaid Australia Pty Ltd., Cirrus, Transfast, and various others.
Synchrony Financial is a consumer financial services company headquartered in Stamford, Connecticut, United States. The company is listed as SYF (NYSE).
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. The company is listed as PNC (NYSE).
The United Services Automobile Association is a San Antonio-based Fortune 500 diversified financial services group of companies including a Texas Department of Insurance-regulated reciprocal inter-insurance.
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