세계의 차지카드 시장 평가 : 유형별, 발행자별, 최종사용자별, 지역별, 기회, 예측(2017-2031년)

Global charge card market is projected to witness a CAGR of 10.63% during the forecast period 2024-2031F, growing from USD 2.31 billion in 2023 to USD 5.18 billion in 2031F. Factors such as advanced security features, premium rewards, tailored rewards based on spending, and the absence of spending limits that allow users to expand their buying power have led to the growth of the global charge card market.

A charge card does not charge interest and, at the same time, requires that all statement balances are settled at every month's end. Charge cards lower the chances of falling into debt by making it compulsory for cardholders to pay the total amount of their balances every month. It helps users to control their spending, avoiding fraudulent activities and unwanted expenditures. The stringent approval process requires a strong credit history and high wages. It removes applicants that may pose a potential threat, hence providing security. Charge cards utilize enhanced security features, such as EMV chips and tokenization, which have been implemented to make it more challenging for intruders who are unauthorized to access or view cardholder information. Issuers provide real-time transaction notification and monitoring, which alert the cardholder instantly at the first sign of suspicious activity.

In November 2022, Unit, a US-based banking-as-a-service platform, launched a business charge card issuing service to help companies build better financial services for businesses.

Collaborative and Co-Branding Activities are Driving Market Growth

Another major factor contributing to growth is collaborating and co-branding efforts by charge card issuers and businesses. Charge card issuers partner with airlines, hotels, retailers, restaurants, and other institutions to offer their clients rewards that attract more people. These rewards attract people and help in developing customer loyalty. Co-branded charge cards add value to the offering from the perspective of the consumer. Such charge cards display a partnership and make use of logos to leverage established trust and brand recognition. It opens up, for the issuers, the already-established partner customer base, leading to quicker adoption and market reach. One of the very first industries to use this model was airlines, which introduced mileage reward cards that have further developed to include all other industries, from retail to hospitality. Therefore, co-branded charge cards work as excellent marketing tools that not only bring in new customers but also drive brand loyalty, ultimately benefiting both the issuer and the partnering business.

In August 2023, HDFC Bank, India's leading private-sector bank, partnered with Marriott Bonvoy to launch its first co-branded hotel credit card in India. The credit card will run on Diners Club, part of the Discovery Global Network, and aims to be one of the most rewarding travel cards in India.

Growth in the Affluent and High-spending Consumer Segments is Leading to Market Expansion

One of the most attractive features of the charge card is the absence of a spending limit which expands the buying power of the customers, unlike a credit card. This makes it particularly attractive in the eyes of the affluent and high-spending consumer segment as it provides flexibility. High-spending individuals, including business executives highly value the premium rewards and discounts provided by charge card issuers. These benefits include airport lounge access, travel insurance, dining, travel bookings, and discounts with airlines. As the economy expands, giving rise to more affluent customers, the demand for charge cards is expected to increase

In September 2023, the US Bureau of Labour 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.

Banks to Compose the Significant Global Charge Card Market Share

Based on charge card issuer, banks had the largest market share. It can be attributed to their large customer bases and extensive distribution channels that helped them create product awareness about charge cards. With data analytics providing real-time information on consumer behavior, banks can offer tailored card products for their different customer segments to make the user experience more personalized. The strategic approach creates brand loyalty and ensures deeper market penetration.

Moreover, digital banking and e-commerce growth have boosted the need for more convenient and secure payment solutions, thus driving the charge card market. The necessity of cashless transactions has made charge cards a very important tool for online transactions as they provide customers with a safe means for making payments. The convenience provided by charge cards, through their integration into digital wallets and contactless payment systems, fits shifting consumer preferences for efficient methods to make payments. The charge card market's overall growth trajectory is likely to continue, driven by technological developments and a progressing demand for digital payment solutions. Banks are adjusting to the changing market dynamics with technical innovation and are likely to dominate the market segment in the future.

However, the NBFC market is expected to expand as they frequently implement innovative features and incentive programs on their charge cards, drawing more customers and increasing card usage. These organizations use digital technologies to manage cards efficiently and conveniently, making them appealing to tech-savvy customers.

The Corporate Segment Dominates the Market

Based on end-users, the corporate category holds dominance. Businesses increasingly perceive charge cards as a means of better expense management, streamlining financial operations, and exercising greater control over company expenditures. Furthermore, charge card issuers have begun working on several features and benefits that would particularly aid the business segment. Hence, demand in the corporate sector fuels the growth of the overall charge card market. They are driving innovation in charge card offers, requiring suppliers to provide rewards, cost control tools, and comprehensive reporting. This competitive climate encourages product creation and diversification, which boosts market growth.

In February 2024, BOBCARD, a subsidiary of Bank of Baroda and National Payments Corporation of India, launched a Corporate Credit Card on RuPay Network. It aims to cater to the diverse need of corporations, providing them with an efficient and safe solution to conduct seamless transactions.

North America Dominates the Market

North America holds the highest market share, attributed to the adoption of digital payment technologies and mobile apps enhancing the user experience for charge cardholders. Features such as digital wallets, real-time spending alerts, and mobile payment options may make charge cards more attractive in North America.

Bolstered by several key factors, the United States commands a dominant position in North America and the global charge card market. Being a country with a highly developed financial infrastructure, the United States has a mature card industry. Credit card usage is deeply ingrained in consumer spending habits, and the widespread acceptance of cards for everyday purchases, spanning retail, dining, travel, and online shopping, contributes to the country's robust penetration. Moreover, the prevalent culture of rewards and incentives tied to charge card usage, such as cashback, travel perks, and loyalty programs, further fuels consumer preference for credit cards in North America, fostering the market share of the region in the global charge card market.

Future Market Scenario (2024 - 2031F)

The future of the charge card business demonstrates a continual shift toward individualized digital experiences, with suppliers prioritizing increased security and user-centric customization.

The charge card industry, with its focus on individualized digital experiences and enhanced security, is poised for significant growth. These developments are set to revolutionize the payment landscape, making the market an attractive prospect for business owners and professionals.

In September 2022, Mercury, a financial technology company based in the United States that operates in the charge card market, announced a corporate charge card called IO MasterCard, designed to assist founders in confidently scaling their businesses. It provides automatic 1.5% cashback on all purchases, with no personal credit check, a 0% annual percentage rate, and a 30-day interest-free payback period. The IO Card provides simple cashback benefits, quick and easy signup, simple employee card onboarding, spending controls, receipt gathering, and automatic payment scheduling.

Key Players Landscape and Outlook

The charge card market is highly competitive and diverse, with many international and regional players. The companies in this space are constantly developing their technology and upgrading their products to attain a competitive advantage. Fierce competition has prompted companies to indulge in various strategic activities like mergers, acquisitions, and partnerships to increase their reach and deliver better services to customers. Many new business deals and product launches have been observed in the sector as companies evolve to keep up with the changing consumer preferences. Advanced technologies such as blockchain and instant payment solutions are changing the operational dynamics of the market. As companies adapt to these changes, they are enhancing not only their product lines but also the transaction speed and transparency, which is critical in maintaining customer satisfaction and brand loyalty in a fast-changing financial ecosystem.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

• 4.1. Product and Market Intelligence
• 4.2. Mode of Brand Awareness
• 4.3. Factors Considered in Purchase Decisions
  • 4.3.1. Features and Other Value-Added Service
  • 4.3.2. Rewards and Benefits
  • 4.3.3. Payment Terms
  • 4.3.4. After-Sales Support
  • 4.3.5. Eligibility Requirements
  • 4.3.6. Technology Integration
• 4.4. Consideration of Privacy and Regulations
• 4.5. Network and Partnerships

5. Global Charge Card Market Outlook, 2017-2031F

• 5.1. Market Size Analysis & Forecast
  • 5.1.1. By Value
• 5.2. Market Share Analysis & Forecast
  • 5.2.1. By Type
    • 5.2.1.1. General Purpose Charge Card
    • 5.2.1.2. Retail Charge Card
    • 5.2.1.3. Travel Charge Card
    • 5.2.1.4. Business Charge Card
    • 5.2.1.5. Others
  • 5.2.2. By Issuer
    • 5.2.2.1. Banks
    • 5.2.2.2. NBFCs
  • 5.2.3. By End-user
    • 5.2.3.1. Individuals
    • 5.2.3.2. Corporate
    • 5.2.3.3. Government
  • 5.2.4. By Region
    • 5.2.4.1. North America
    • 5.2.4.2. Europe
    • 5.2.4.3. Asia-Pacific
    • 5.2.4.4. South America
    • 5.2.4.5. Middle East and Africa
  • 5.2.5. By Company Market Share Analysis (Top 5 Companies and Others - By Value, 2023)
• 5.3. Market Map Analysis, 2023
  • 5.3.1. By Type
  • 5.3.2. By Issuer
  • 5.3.3. By End-user
  • 5.3.4. By Region

6. North America Charge Card Market Outlook, 2017-2031F*

• 6.1. Market Size Analysis & Forecast
  • 6.1.1. By Value
• 6.2. Market Share Analysis & Forecast
  • 6.2.1. By Type
    • 6.2.1.1. General Purpose Charge Card
    • 6.2.1.2. Retail Charge Card
    • 6.2.1.3. Travel Charge Card
    • 6.2.1.4. Business Charge Card
    • 6.2.1.5. Others
  • 6.2.2. By Issuer
    • 6.2.2.1. Banks
    • 6.2.2.2. NBFCs
  • 6.2.3. By End-user
    • 6.2.3.1. Individuals
    • 6.2.3.2. Corporate
    • 6.2.3.3. Government
  • 6.2.4. By Country Share
    • 6.2.4.1. United States
    • 6.2.4.2. Canada
    • 6.2.4.3. Mexico
• 6.3. Country Market Assessment
  • 6.3.1. United States Charge Card Market Outlook, 2017-2031F*
    • 6.3.1.1. Market Size Analysis & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share Analysis & Forecast
      • 6.3.1.2.1. By Type
        • 6.3.1.2.1.1. General Purpose Charge Card
        • 6.3.1.2.1.2. Retail Charge Card
        • 6.3.1.2.1.3. Travel Charge Card
        • 6.3.1.2.1.4. Business Charge Card
        • 6.3.1.2.1.5. Others
      • 6.3.1.2.2. By Issuer
        • 6.3.1.2.2.1. Banks
        • 6.3.1.2.2.2. NBFCs
      • 6.3.1.2.3. By End-user
        • 6.3.1.2.3.1. Individuals
        • 6.3.1.2.3.2. Corporate
        • 6.3.1.2.3.3. Government
  • 6.3.2. Canada
  • 6.3.3. Mexico

All segments will be provided for all regions and countries covered

7. Europe Charge Card Market Outlook, 2017-2031F

• 7.1.1. Germany
• 7.1.2. France
• 7.1.3. Italy
• 7.1.4. United Kingdom
• 7.1.5. Russia
• 7.1.6. Netherlands
• 7.1.7. Spain
• 7.1.8. Turkey
• 7.1.9. Poland

8. Asia-Pacific Charge Card Market Outlook, 2017-2031F

• 8.1.1. India
• 8.1.2. China
• 8.1.3. Japan
• 8.1.4. Australia
• 8.1.5. Vietnam
• 8.1.6. South Korea
• 8.1.7. Indonesia
• 8.1.8. Philippines

9. South America Charge Card Market Outlook, 2017-2031F

• 9.1.1. Brazil
• 9.1.2. Argentina

10. Middle East and Africa Charge Card Market Outlook, 2017-2031F

• 10.1.1. Saudi Arabia
• 10.1.2. UAE
• 10.1.3. South Africa

11. Demand Supply Analysis

12. Value Chain Analysis

13. Porter's Five Forces Analysis

14. PESTLE Analysis

15. Reward Structure Analysis

16. Market Dynamics

• 16.1. Market Drivers
• 16.2. Market Challenges

17. Market Trends and Developments

18. Case Studies

19. Competitive Landscape

• 19.1. Competition Matrix of Top 5 Market Leaders
• 19.2. SWOT Analysis for Top 5 Players
• 19.3. Key Players Landscape for Top 10 Market Players
  • 19.3.1. American Express Company
    • 19.3.1.1. Company Details
    • 19.3.1.2. Key Management Personnel
    • 19.3.1.3. Products and Services
    • 19.3.1.4. Financials (As Reported)
    • 19.3.1.5. Key Market Focus and Geographical Presence
    • 19.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 19.3.2. Bank of America Corporation
  • 19.3.3. Barclays Bank UK PLC.
  • 19.3.4. Citigroup Inc.
  • 19.3.5. Diners Club International Ltd.
  • 19.3.6. jCB Co., Ltd.
  • 19.3.7. MasterCard Inc.
  • 19.3.8. The HongKong and Shanghai Banking Corporation Limited
  • 19.3.9. Wells Fargo Bank
  • 19.3.10. JP Morgan Chase Bank, N.A.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

20. Strategic Recommendations

21. About Us and Disclaimer