Market Research Report
Commercial Payment Cards: U.S. Market Trends, 12th Edition
|Commercial Payment Cards: U.S. Market Trends, 12th Edition|
Published: January 3, 2022
Content info: 86 Pages
Delivery time: 1-2 business days
Within the commercial card industry, product line extensions are a key driver of adoption and revenue, as is the continuing displacement of legacy payment products.
The COVID-19 pandemic forced the reorganization of the economic life of non-essential businesses with a higher percentage of corporate staff shifting to telecommuting and home offices, and with retailers moving more of their business to online storefronts. Business travel and entertainment stopped virtually overnight in March 2020, and has sputteringly attempted to restart but to date The rise of new COVID-19 variants continues to make virtual meetings the safest way to interact with clients and prospects.
These events-in conjunction with the closing of international borders, ecommerce's ongoing trajectory in claiming share of sales, the increasing digitization of all payments, the imperative for real-time payments unslowed by national borders, and the rise of fintechs-create a complex, growing and profitable landscape for the commercial card industry.
‘Commercial Payment Cards: U.S. Market Trends’ sizes the commercial card market with breakouts and forecasts for Visa, Mastercard, and American Express, as well as quantifications for purchasing card vs. travel and entertainment (T&E) cards. In addition, this report assesses and analyze the impact of the COVID-19 pandemic on the commercial card space, including a focus on small business market opportunities for commercial cards. Overall, this report reviews the major commercial card issuers' strategies to reignite purchase activity, rebuild their card portfolios and create sufficient value for the large, midsized and smaller business accounts to keep them onboard as clients.
‘Commercial Payment Cards: U.S. Market Trends’ draws on information including company financials and press releases as primary sources. Secondary sources include the MRI-Simmons Summer 2021 National Consumer Survey of Visa, Mastercard, and American Express business card users, set in the context of the overall customer based for these three dominant networks. Additional payments surveys from other market research firms are also cited, along with commercial card industry participants. Trade publications, management consulting reports, investment analyst reports, company financial filings, and vendor-generated survey findings were also consulted, along with U.S. governmental and not-for-profit trade reports and payment system analyses.