PUBLISHER: The Business Research Company | PRODUCT CODE: 1426185
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426185
Charge Card Global Market Report 2024
A charge card stands as an electronic payment method devoid of interest charges, necessitating the full payment of the statement balance each month.
Primarily, charge cards encompass distinct categories like gold cards, platinum cards, plum cards, business gold cards, business platinum cards, and other variants. American Express's gold charge card, classified as an introductory tier, mirrors the benefits typically associated with credit cards. Engaging institutions range from both banking entities to non-banking establishments, serving diverse end-users such as retail consumers, corporations, and government or public sector entities.
The charge card market report is one of a series of new reports from The Business Research Company that provides change card statistics, including change card industry global market size, regional shares, competitors with change card share, detailed change card segments, market trends and opportunities, and any further data you may need to thrive in the change card industry. This change card research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The charge card market size has grown marginally in recent years. It will grow from $1.99 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 1.4%. The expansion witnessed in the historical period owes its momentum to several factors, notably the rise of electronic payments, enhanced convenience, reinforced security measures, the prominence of travel and entertainment sectors, and the prevalence of rewards programs.
The charge card market size is expected to see marginally grown in the next few years. It will grow to $2.27 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. Anticipated growth in the forecast period can be ascribed to the ascendancy of digital payments, the adoption of contactless payment methods, the surge in online shopping, and the continued emphasis on security measures and fraud prevention.
The charge card market's growth stems from its flexibility and absence of preset spending limits, expanding buying power. These cards offer premium rewards, tailor rewards based on spending, and provide diverse travel and purchase protections. For example, American Express grants airport lounge access, travel insurance, and more. Responsible usage can bolster credit scores. Moreover, these cards facilitate event organization, dining, travel bookings, and offer discounts with airlines, fostering increased demand.
Anticipated growth in consumer spending habits is poised to drive the charge card market. These habits shape payment method preferences, with many favoring charge cards due to their convenience and rewards. In September 2023, US Bureau of Labor Statistics noted a 12.9% rise in personal consumption expenditures in 2021 and 9.2% in 2022, fueling the demand for charge cards in response to increased spending behaviors.
A prominent trend in the charge card market involves custom-designed cards, tailored to individual preferences. This type of card allows customers to create or select personalized designs. Notably, Unit, a US banking-as-a-service platform, introduced custom-designed charge cards for Small Businesses in November 2022. Unit manages card production, compliance, and transaction tracking, catering to diverse customer needs.
Market leaders are innovating to boost profitability, exemplified by initiatives like Visa Direct. This service facilitates real-time cross-border fund transfers for individuals, businesses, and financial institutions. Visa's expansion of Visa Direct Payouts in March 2021 streamlines payments to eligible cards domestically and globally through a unified interface. This solution offers swift fund transfers, especially valuable for urgent transactions.
Major companies operating in the charge card market include American Express, Diners Club International, Coutts and Co., Chase Bank, Citibank NA, Capital One Financial Corporation, Bank of America Corporation, Discover Financial Services, U.S. Bancorp, Wells Fargo, Barclays PLC, Navy Federal Credit Union, Pentagon Federal Credit Union, United Services Automobile Association, Visa Inc., Mastercard Inc., JCB Co. Ltd., Equifax Inc., TransUnion LLC, Experian PLC, Credit Karma, Credit Sesame, NerdWallet, Evolution Finance Inc., CreditCards.com, Bankrate LLC, PayPal Holdings Inc., Stripe Inc., Braintree, Authorize.net, Worldpay Group PLC, First Data Corporation, Total System Services Inc., Global Payments Inc., Elavon Inc., Heartland Payment Systems Inc.
Asia-Pacific was the largest region in the charge card market in 2023. Western Europe was the second largest region in the charge card market. The regions covered in the charge card market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the charge card market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The charge card market consists of revenue by entities that are engaged in storing, processing, and transmitting charge card data. Charge cards are like credit cards, but do not have a pre-set credit limit. Cardholders are not charged any interest and are required to pay the outstanding balance in full upon receiving a statement. Revenue generated from the cards market include all processing and service fees levied by banks and financial institutions for processing card-based payments. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Charge Card Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on charge card market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for charge card? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The charge card market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Gold Card; Platinum Card; Plum Card; Business Gold Card; Business Platinum Card; Other Types
- 2) By Institution Type: Banking Institutions; Non-Banking Institutions
- 3) By End User: Retail; Corporate; Government/Public Sector
- Companies Mentioned: American Express; Diners Club International; Coutts and Co.; Chase Bank; Citibank NA
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Table of Contents
1. Executive Summary
2. Charge Card Market Characteristics
3. Charge Card Market Trends And Strategies
4. Charge Card Market - Macro Economic Scenario
- 4.1. Impact Of High Inflation On the Market
- 4.2. Ukraine-Russia War Impact On the Market
- 4.3. COVID-19 Impact On the Market
5. Global Charge Card Market Size and Growth
- 5.1. Global Charge Card Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
- 5.2. Global Charge Card Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
- 5.3. Global Charge Card Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Charge Card Market Segmentation
- 6.1. Global Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Gold Card
- Platinum Card
- Plum Card
- Business Gold Card
- Business Platinum Card
- Other Types
- 6.2. Global Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Banking Institutions
- Non-Banking Institutions
- 6.3. Global Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Retail
- Corporate
- Government Or Public Sector
7. Charge Card Market Regional And Country Analysis
- 7.1. Global Charge Card Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 7.2. Global Charge Card Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Charge Card Market
- 8.1. Asia-Pacific Charge Card Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 8.3. Asia-Pacific Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 8.4. Asia-Pacific Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Charge Card Market
- 9.1. China Charge Card Market Overview
- 9.2. China Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
- 9.3. China Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
- 9.4. China Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Charge Card Market
- 10.1. India Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 10.2. India Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 10.3. India Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Charge Card Market
- 11.1. Japan Charge Card Market Overview
- 11.2. Japan Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 11.3. Japan Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 11.4. Japan Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Charge Card Market
- 12.1. Australia Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 12.2. Australia Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 12.3. Australia Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Charge Card Market
- 13.1. Indonesia Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 13.2. Indonesia Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 13.3. Indonesia Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Charge Card Market
- 14.1. South Korea Charge Card Market Overview
- 14.2. South Korea Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 14.3. South Korea Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 14.4. South Korea Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Charge Card Market
- 15.1. Western Europe Charge Card Market Overview
- 15.2. Western Europe Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 15.3. Western Europe Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 15.4. Western Europe Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Charge Card Market
- 16.1. UK Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 16.2. UK Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 16.3. UK Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Charge Card Market
- 17.1. Germany Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 17.2. Germany Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 17.3. Germany Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Charge Card Market
- 18.1. France Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 18.2. France Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 18.3. France Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Charge Card Market
- 19.1. Italy Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 19.2. Italy Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 19.3. Italy Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Charge Card Market
- 20.1. Spain Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 20.2. Spain Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 20.3. Spain Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Charge Card Market
- 21.1. Eastern Europe Charge Card Market Overview
- 21.2. Eastern Europe Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 21.3. Eastern Europe Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 21.4. Eastern Europe Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Charge Card Market
- 22.1. Russia Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 22.2. Russia Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 22.3. Russia Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Charge Card Market
- 23.1. North America Charge Card Market Overview
- 23.2. North America Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 23.3. North America Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 23.4. North America Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Charge Card Market
- 24.1. USA Charge Card Market Overview
- 24.2. USA Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 24.3. USA Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 24.4. USA Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Charge Card Market
- 25.1. Canada Charge Card Market Overview
- 25.2. Canada Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 25.3. Canada Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 25.4. Canada Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Charge Card Market
- 26.1. South America Charge Card Market Overview
- 26.2. South America Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 26.3. South America Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 26.4. South America Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Charge Card Market
- 27.1. Brazil Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 27.2. Brazil Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 27.3. Brazil Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Charge Card Market
- 28.1. Middle East Charge Card Market Overview
- 28.2. Middle East Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 28.3. Middle East Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 28.4. Middle East Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Charge Card Market
- 29.1. Africa Charge Card Market Overview
- 29.2. Africa Charge Card Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 29.3. Africa Charge Card Market, Segmentation By Institution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- 29.4. Africa Charge Card Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Charge Card Market Competitive Landscape And Company Profiles
- 30.1. Charge Card Market Competitive Landscape
- 30.2. Charge Card Market Company Profiles
- 30.2.1. American Express
- 30.2.1.1. Overview
- 30.2.1.2. Products and Services
- 30.2.1.3. Strategy
- 30.2.1.4. Financial Performance
- 30.2.2. Diners Club International
- 30.2.2.1. Overview
- 30.2.2.2. Products and Services
- 30.2.2.3. Strategy
- 30.2.2.4. Financial Performance
- 30.2.3. Coutts and Co.
- 30.2.3.1. Overview
- 30.2.3.2. Products and Services
- 30.2.3.3. Strategy
- 30.2.3.4. Financial Performance
- 30.2.4. Chase Bank
- 30.2.4.1. Overview
- 30.2.4.2. Products and Services
- 30.2.4.3. Strategy
- 30.2.4.4. Financial Performance
- 30.2.5. Citibank NA
- 30.2.5.1. Overview
- 30.2.5.2. Products and Services
- 30.2.5.3. Strategy
- 30.2.5.4. Financial Performance
- 30.2.1. American Express
31. Global Charge Card Market Competitive Benchmarking
32. Global Charge Card Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Charge Card Market
34. Charge Card Market Future Outlook and Potential Analysis
- 34.1 Charge Card Market In 2028 - Countries Offering Most New Opportunities
- 34.2 Charge Card Market In 2028 - Segments Offering Most New Opportunities
- 34.3 Charge Card Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies
35. Appendix
- 35.1. Abbreviations
- 35.2. Currencies
- 35.3. Historic And Forecast Inflation Rates
- 35.4. Research Inquiries
- 35.5. The Business Research Company
- 35.6. Copyright And Disclaimer
