Global Co-Branded and Affinity Cards Market is Expected to Grow at CAGR of 3.45% by 2031, With Growth In Digital Banking Across The Globe

HOUSTON, TEXAS, UNITED STATES, July 14, 2023/EINPresswire.com/ -- Co-branded and affinity cards are a type of cards that are issued by a bank in collaboration with another organization, such as a charity or airline. These cards offer consumers the convenience of using these cards while also providing financial support to the partnering organization. The co-branded and affinity cards market has grown significantly over the past few years, driven by increasing consumer demand for convenience and loyalty programs offered by these cards, rising consumer spending and increased acceptance of digital payments. In addition, banks are increasingly offering co-branded and affinity cards as an additional source of revenue due to their high interchange fees.

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Global Co-Branded and Affinity Cards Market: Card Type Data
Credit cards typically offer more rewards than debit/pre-paid cards, such as cash back, points, or miles. Credit card companies often partner with retailers to offer exclusive discounts or other benefits when using their card at certain stores.
Debit/pre-paid cards are a great option for those who want to keep track of their spending without having to worry about interest rates or fees associated with credit cards. They also provide an easy way for users to transfer funds from one account to another without having to use cash or checks. These types of cards usually come with fewer fees than credit cards. However, they do not offer the same level of rewards as credit cards do.

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Global Co-Branded and Affinity Cards Market: Regional Data
The Asia Pacific region is expected to be the largest region for co-branded and affinity cards market during the forecast period due to the increasing demand for credit cards and debit cards, as well as the growing number of partnerships between banks and merchants. The region has seen a surge in the number of co-branding agreements between banks and merchants, which has resulted in an increased availability of co-branded cards. Additionally, the increasing penetration of digital payments in countries such as China, India, Japan, South Korea, and Singapore is expected to drive the growth of this market. Furthermore, with the rise in disposable income and changing consumer preferences towards cashless transactions, more people are opting for credit cards over cash payments. This has led to a rise in demand for co-branded cards that offer rewards and discounts on purchases made through them. Additionally, banks are offering attractive reward programs to attract customers to use their co-branded cards. This is further expected to drive the growth of this market during the forecast period.

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Global Co-Branded and Affinity Cards Market Competitive Insights
o American Express Company
o Bank of America Corporation
o Barclays
o Capital One
o Citigroup Inc.
o Commerce Bancshares, Inc.
o First National Bank of Omaha.
o HSBC Holdings PLC.,
o JPMorgan & Chase Co.
o Openbank
o Synchrony
o U.S. Bank (U.S. Bank National Association)
o Other Market Participants

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Global Co-Branded and Affinity Cards Market

By Card Type
o Debit or Pre-paid Cards
o Credit Cards
By Issuer
o Banks
o Financial Institutions
By Card Category
o Reward Points Based Cards
o Discount Based Cards
o Charity Based Cards

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By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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