Emerging Trends to Reshape the Cards Market: Eco-Friendly Debit Cards Pioneering Sustainability In The Card Markets as a Key Influencer

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Cards Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The industry of cards has shown significant growth in the past few years. Its size is projected to increase from $328.69 billion in 2024 to $352.07 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The historical growth rate has been driven by factors such as the introduction of magnetic stripe cards, modernization of the banking system, expansion of ATM networks, the advent of EMV chip cards, and loyalty and reward schemes.

Cards Market Size Forecast: What's the Projected Valuation by 2029?
The market size of cards is projected to witness robust expansion in the upcoming years. It is anticipated to reach $473.36 billion by 2029, marking a compound annual growth rate (CAGR) of 7.7%. The surge during the projection period could be due to factors such as initiatives for environmental sustainability, assimilation with IoT devices, disruptions caused by fintech, development of loyalty programs, and improved security actions. The forecast period is likely to see major trends such as the adoption of biometric authentication, swift growth of contactless payments, expansion of the mobile wallet, emergence of digital-only cards, and bespoke loyalty programs.

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What Are the Drivers Transforming the Cards Market?
The increasing need for credit cards is predicted to boost the expansion of the card market in the projected timeframe. The surging appetite for consumer credit products becomes very noticeable during an economic crisis, such as during the COVID-19 outbreak, when payment hold-ups and job losses are potential situations. The rising credit card balance signifies people resorting to borrowing to manage their regular expenditures. For example, data from the Federal Reserve Bank of New York has shown in November 2022 that credit cards are the primary mode of debt in the U.S, with more than 500 million active accounts and 191 million U.S residents possessing at least one card. By the age of 25, roughly 73% of Americans own a credit card, hinting at intricate choices regarding spending, saving, and borrowing. Therefore, the escalating need for credit cards propels the card market's growth.

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What Are the Key Trends Driving Cards Market Growth?
Significant firms in the card market are introducing innovative, eco-friendly products like debit cards fabricated from ROBP, in response to escalating demand for sustainable methods. Debit cards produced with ROBP are environmentally friendly financial cards made from Recovered Ocean-Bound Plastic. For example, in February 2024, Federal Bank, a private banking institution based in India, presented new RuPay-Endorsed NCMC Wallet Debit Cards. The RuPay Contactless Debit Card permits customers to hasten their payments at NCMC-compliant terminals, like metro stations and buses, merely by waving the card on a reader. It upholds stored value transactions of up to Rs. 2000 (as per RBI guidelines), consolidating travel by digitizing payments over a variety of transportation modes. To turn on the NCMC functionality for offline dealings, cardholders have to activate the "contactless attribute" using mobile banking, online banking, or IVR. Post-activation, customers can load funds at metro customer support desks through cash or their savings accounts. Once charged, they can wave the card at entrance and exit points, obviating the requirement for independent ticket acquisitions, with the available balance shown on the terminal display.

Which Segments in the Cards Market Offer the Most Profit Potential?
The cardsmarket covered in this report is segmented -

1) By Type: General Purpose, Private Label
2) By Usage: General-purpose Re-loadable Card, Government Benefit/Disbursement Card, Payroll Card, Other Usage
3) By End User: Retail Establishments, Corporate Institutions, Government, Financial Institutions, Other End-Users

Subsegments:
1) By General Purpose: Credit Cards, Debit Cards, Prepaid Cards, Travel And Entertainment Cards
2) By Private Label: Store-Branded Credit Cards, Retailer-Specific Debit Cards, Loyalty Program Cards

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Which Firms Dominate the Cards Market by Market Share and Revenue in 2025?
Major companies operating in the cards market include JP Morgan Chase & Co., The Bank of America Corporation, Bank of Baroda Ltd., Citibank NA, Wells Fargo & Company, American Express Company, United Services Automobile Association, Capital One Financial Corporation, Barclays US, Visa Inc., BBVA Compass Bancshares Inc., PayPal Holdings Inc., The PNC Financial Services Group Inc., Mastercard Incorporated, HDFC Bank Ltd., ICICI Bank Limited, Discover Financial Services, SBI Cards and Payment Services Limited, Axis Bank Limited, Ebay Inc., The Western Union Company, Total System Services Inc., Mango Financial Inc., Navy Federal Credit Union, Green Dot Corporation, NetSpend Holdings Inc., UniRush LLC, Pentagon Federal Credit Union, Kaiku Finance LLC

Which Regions Offer the Highest Growth Potential in the Cards Market?
Asia-Pacific was the largest region in the cards market in 2024. Western Europe was the second largest region in the global card market share. The regions covered in the cards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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