Commercial or corporate card Market Booming the Industries by Ravisisng keyplayers | AirPlus International, Amazon.com, Inc., American Express Company, Bank of America Corporation, Union Pay, Citigroup Inc. , FleetCor Technologies Inc., JCB Co., Ltd, JPMo

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. Commercial card offers flexibility to set employee-spending limits and restrict card usage for specific types of purchases.

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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. For instance, according to National Automated Clearing House Association’s (NACHA) analysis in 2015, issuers such as corporations, investment trusts, or foreign governments earned over US$ 7 to US$ 8 billion in interchange revenue by processing US$ 428 billion of commercial card payments, out of which around 80% of interchange revenue from foreign government is shared back with corporates using commercial cards.

Global Commercial or Corporate Card: Regional Insights

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.

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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Global Commercial or Corporate Card Market: Taxonomy

• On the basis of product type

o Purchase Cards
o Business Cards
o Travel and Entertainment Cards
o Others

• On the basis of type

o Open-Loop cards
o Closed-Loop cards

• On basis of application

o Small Business Card
o Corporate Card

• On the basis of region

o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa

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