Commercial or Corporate Card Market Worldwide Top Players Revenue and Forecasts To 2026: AirPlus International, Amazon.com, Inc., American Express Company, Bank of America Corporation, Union Pay are Leading

Commercial or corporate card is a credit card issued by employers for their employees to make purchases on behalf of the company. Commercial card is generally issued by a retailer and bears the name of both retailer and Credit Card Company. Commercial cards are frequently used by companies to keep track of expenses in order to analyze more closely the effects on the company budget. Commercial cards for business include both Visa and MasterCard, which offers special credit cards designed to manage the employees’ spending and streamline their purchasing process.

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Increasing Demand for Cashless Purchasing is one of the Major Drivers Propelling Growth of the Commercial or Corporate Card Market

Commercial or corporate cards help corporates to manage cash and vendors more effectively through detailed reporting on purchases through a wide range of billing and payment options for commercial card activity. The cost of commercial card usage is typically borne by corporates accepting commercial card payments.

growing popularity of these among consumers, as it allows short-term loan instantly, which is the major factor for consumers to choose corporate card over cash. Corporate card companies offer incentives to card holders, such as points and rewards that could be redeemed in the form of airline tickets or products. These factors boosts corporate card transaction in the corporate or commercial card market.

Global Commercial or Corporate Card: Regional Insights

On the basis of region, the global corporate or commercial card market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

North America was the dominant region in commercial or corporate card market in 2017 and is expected to remain as the leading region throughout the forecast period. This is owing to growing customer base for credit cards and large number of commercial businesses in the region. According to coherent Market Insights, the purchase volume of commercial cards issued by selected credit card companies in the United States in 2015 and a projection therefore for 2020. It was found that the purchase volume of the commercial cards issued by Visa amounted to 2.76 trillion U.S. dollars in 2015.

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Asia Pacific is expected to exhibit high growth over the forecast period. This is owing to growing BSFI sector in the region. For instance, according to Coherent Market Insights, banks in the emerging economies of Asia Pacific region are forecasted to maintain an asset growth of 13% CAGR during the period 2014-2019, while GDP per capita is forecasted to exhibit a CAGR of 5.1% during this period.

Global Commercial or Corporate Card: Competitive Landscape

Some of the key players operating in the global commercial or corporate card market include AirPlus International, Amazon.com, Inc., American Express Company, Bank of America Corporation, Union Pay, Citigroup Inc. , FleetCor Technologies Inc., JCB Co., Ltd, JPMorgan Chase & Co., MasterCard, PayPal Holdings, Inc., U.S. Bank, Universal Air Travel Plan Inc., Visa Inc., and WEX Inc.

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This release was published on openPR.