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Commercial/Corporate Card Market Increasing Demand, Growth Analysis and Future Outlook by 2031
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Hence, the significant increase in the card payments to buy goods and services is the major factor bolstering the growth of the market. According to the Reserve bank of India (RBI), debit card and credit card payments in India have grown at a considerable rate of 7.3% and 8.5% from 2017 to 2020, respectively. Further, the payments landscape across the globe is developing at a rapid pace with various innovative payment systems and instruments being introduced frequently. The growing launches of new products and benefits by key players in the market are anticipated to propel the demand for commercial/corporate cards. For instance, in April 2022, supply chain finance company KredX partnered with ICICI Bank to offer a commercial card for B2B payments. The ICICI Bank-KredX Commercial Card is a kind of cash-back card that allows businesses to collect instant financial rewards for B2B payments without any fees. Through this partnership, KredX expects to distribute as much as about $260 million in B2B vendor payments monthly.
Global Commercial/Corporate Card Market Report Segment
By Product Type
Purchase Cards
Business Cards
Travel & Entertainment Cards
Gift Cards
By Card Type
Open-loop Cards
Closed-loop Cards
By End-User
Small & Mid-sized Enterprises
Large Enterprises
A full report of Commercial/Corporate Card Market available @ https://www.omrglobal.com/industry-reports/commercial-corporate-card-market
Commercial/Corporate Card Market Report Segment by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
Company Profiles
AirPlus International Ltd.
com, Inc.
American Express CompanyCo.
Bank of America Corp.
Bank of China Ltd.
Citigroup, Inc.
Corporate Spending Innovations Enterprises, Inc.
JP Morgan Chase & Co. Inc.
NGC US, LLC
S. Bancorp, Wex Inc.
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Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research
About Orion Market Research
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