Bank Payment Cards market is expected to reach USD 1,635.79 billion by 2030 : Cognitive Market Research

Market Overview:
• What is a Bank Payment Cards?
Bank payment cards are cards that are issued by a bank or financial institution and are linked to the account of the cardholder. These cards are used to make payments for goods and services and can be used at various merchants and service providers that accept the card's payment network. Bank payment cards offer a convenient and secure way to make payments, and many also offer rewards and benefits such as cashback, discounts, or travel points. It is important to use these cards responsibly and manage the associated fees and interest charges.

Summary:
- The Bank Payment Cards market is expected to grow from USD 833.27 billion in 2022 to USD 1,635.79 billion by 2030, at a CAGR of 8.4%.

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Market Dynamics:
• Rising adoption of electronic payments method boosts the demand for bank payment cards
As consumers and businesses increasingly adopt electronic payment methods, the demand for bank payment cards is growing. Payment cards offer convenience and security, making them a popular payment option. As banking and financial services expand globally, the demand for bank payment cards is growing. Many consumers are unbanked or underbanked, and bank payment cards offer a way to access financial services and make payments.
• Regulatory compliances and security concerns act as a restraint of the bank payment cards market
The security of bank payment cards is a major concern for consumers, and any breach of security can damage consumer trust in the payment system. As a result, payment card companies have invested heavily in security measures to protect cardholder data. The bank payment card market is heavily regulated, with various laws and regulations governing payment card processing and usage. Compliance with these regulations can be costly and time-consuming for payment card companies, which can impact their bottom line.
• The rising adoption of E-commerce will drive the bank payment cards market growth
The growth of the e-commerce industry is driving demand for bank payment cards. As more consumers shop online, they need a safe and convenient way to make payments, and bank payment cards are a popular option. Advancements in technology are driving innovation in the bank payment card market. For example, contactless payment technology and mobile payments are making it easier for consumers to make payments with their bank payment cards.

Bank Payment Cards Market Segmentation:
Type
• Credit Cards
• Debit Cards
• Others

Application
• Personal use
• Business use

The Major Players in Bank Payment Cards Market are:
Gemalto, IDEMIA, Giesecke and Devrient, Perfect Plastic Printing, ABCorp, CPI Card, Tianyu, Goldpac, Hengbao, Watchdata Technologies, Valid, Kona I, Eastcompeace

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News
- In November 2022
In a significant boost to credit penetration into the digital payments platform, government-backed RuPay credit cards can now be linked to Unified Payments Interface (UPI). This announcement by the Reserve Bank of India (RBI) is expected to bring the next wave of disruption in the digital payments ecosystem. According to a recent Boston Consulting Group (BCG) report, India's digital payments market is expected to reach $10 trillion from the current $3 trillion by 2026.

Regional Analysis:
- North America dominates the Bank Payment Cards Market
Geographically, the global bank payment cards market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. In North America, the United States is the largest market for bank payment cards, driven by a high level of adoption and usage of electronic payment methods. The market is dominated by major payment cards companies such as Visa, Mastercard, and American Express.

Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Bank Payment Cards Market
• 3.1 Global Bank Payment Cards Market Size 2018 - 2030, (USD Million)
• 3.2 Global Bank Payment Cards Value, Absolute & Opportunity Analysis
• 3.3 Global Bank Payment Cards Market Y-o-Y Growth Rate Projection by Region (2023 - 2030)
• 3.4 Global Bank Payment Cards Market Statistics 2022: Snapshot
Chapter 4 Global Bank Payment Cards Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
• 6.1 Overall Company's Disclosure Score
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Bank Payment Cards Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Bank Payment Cards Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Bank Payment Cards Market Regional Analysis
Chapter 12 North America Bank Payment Cards Market Outlook (2018 - 2030)
Chapter 13 Europe Bank Payment Cards Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Bank Payment Cards Market Outlook (2018 - 2030)
Chapter 15 Latin America Bank Payment Cards Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Bank Payment Cards Market Outlook (2018 - 2030)
Chapter 17 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)

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