The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, Dec. 06, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Credit Card Issuance Services Global Market Report 2023, the global credit card issuance services market is on a trajectory of substantial growth, with projections indicating an increase from $437.25 billion in 2022 to $478.09 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 9.3%. The credit card issuance services market is anticipated to reach $660.81 billion by 2027, with a CAGR of 8.4%.

Drivers of Growth

The escalating demand for credit cards is a primary driver propelling the growth of the credit card issuance services market. As consumers increasingly seek credit products offering flexible spending, credit card issuers play a pivotal role in facilitating transactions, managing repayments, and handling chargeback requests. Notably, in the fourth quarter of 2022, credit card balances in the USA surged by $61 billion to $986 billion, surpassing pre-pandemic levels. This surge underscores the pivotal role credit cards play in consumer finance, contributing to the credit card issuance services market's upward trajectory.

Learn More In-Depth On The Credit Card Issuance Services Market

https://www.thebusinessresearchcompany.com/report/credit-card-issuance-services-global-market-report

Major Players and Technological Advancements

Key players in the credit card issuance services market, including JPMorgan Chase & Co., Bank of America Corporation, and American Express Company, are driving innovation through technological advancements. Marqeta Inc., a modern card issuing platform, introduced an API-driven credit card issuing platform, allowing for the rapid launch of next-generation credit card programs with customizable features. Similarly, Mastercard Inc.'s strategic acquisition of account-to-account-based services from Nets Group for $3.12 billion in March 2021 positions it to enhance its exposure to high-growth markets and fast-growing business segments, such as e-commerce.

Trends and Leading Regions

Technological advancements emerge as a key trend within the credit card issuance services market, with companies focusing on developing new technologies to sustain their market positions. North America led the market in 2022, with the region demonstrating the largest share. As the credit card issuance services market evolves, segments such as Consumer Credit Cards, Business Credit Cards, Issuers (Banks, Credit Unions, Non-Banking Financial Companies), and End-Users (Personal, Business) are expected to play crucial roles in shaping the industry landscape.

Get A Free Sample Of The Global Credit Card Issuance Services Market Report

https://www.thebusinessresearchcompany.com/sample_request?id=12484&type=smp

The Credit Card Issuance Services Market Report offers valuable insights for players seeking to scale their businesses in this dynamic landscape. With detailed analyses of growth potential, drivers, and regional dynamics, businesses can make informed decisions and strategize effectively. As technological advancements continue to shape the industry, players can leverage the report to stay ahead, innovate their offerings, and tap into emerging opportunities. By understanding market trends and positioning themselves strategically, businesses can thrive in the evolving credit card issuance services market.

Credit Card Issuance Services Global Market Report 2023 by The Business Research Company provides insights on the credit card issuance services market size, credit card issuance services market segments, credit card issuance services market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Check Out Similar Market Intelligence Reports By The Business Research Company:

Credit Card Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/credit-card-global-market-report

Debit Card Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/debit-card-global-market-report

Cards & Payments Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/cards-and-payments-global-market-report

Learn More About The Business Research Company

The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model – World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 8897263534

Americas: +1 315 623 0293

Email: info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.