Emerging Trends to Drive Payment Card Issuance Software Market Growth at 11.3% CAGR Through 2029

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Payment Card Issuance Software Market Size Growth Forecast: What to Expect by 2025?
In recent years, there has been remarkable expansion in the market size of payment card issuance software. The market, which was valued at $1.86 billion in 2024, is expected to rise up to $2.07 billion in 2025, with a compound annual growth rate (CAGR) of 11.6%. Factors contributing to the growth within this timeframe include an increase in debit card usage in developing economies, greater demand for robust banking infrastructure, a rise in the population with bank accounts, a boost in the digitization of retail banking, and the broadening of card issuance services at the branch level.

How Will the Payment Card Issuance Software Market Size Evolve and Grow by 2029?
It is anticipated that the payment card issuance software market will witness significant growth in the coming years, escalating to a valuation of $3.18 billion in 2029 with a compound annual growth rate (CAGR) of 11.3%. This projected growth within the forecast period can be credited to factors such as the rising use of virtual cards, emergence of digital-first banking methodologies, an increasing need for real-time customer integration and the upsurge in collaborations between fintechs and banks. Furthermore, the growing demand for tailored customer experiences also enhances the market growth. The forecast period is expected to see key trends in including application of biometric authentication in issuing procedures, use of cloud-based issuance platforms, creation of environmentally-friendly card alternatives, broadening of token-based issuance strategies, and the rise of decentralised card management systems.

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What Drivers Are Propelling the Growth of Payment Card Issuance Software Market Forward?
The growth of the market is being propelled by the escalating digitization of banking services, due to an increasing demand for secure and instant digital transactions.

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What Long-Term Trends Will Define the Future of the Payment Card Issuance Software Market?
Leading players in the payment card issuance software market are putting their focus into creating innovative solutions, such as cloud-native payment card processing systems, in order to improve scalability, speed, and flexibility in the issuance and management of payment cards. Cloud-native payment processing platforms are systems that have been completely built and deployed in a cloud environment, making use of a microservice structure and containerization to allow for quick scalability, high capacity, and easy integration with digital banking services. For instance, in February 2024, Thought Machine, a UK company specializing in cloud banking technology, introduced Vault Payments, a cloud-native card and payment processing platform aimed at advancing modern payment card processing features. Vault Payments enhances Thought Machine's central banking platform by implementing a highly adaptable and programmable payment engine that enables banks to issue, process and manage payment cards in real-time across various schemes and regions. The novel platform achieves high performance and customization while meeting the needs of traditional banks, fintechs, and digital-first challengers, enabling them to develop unique card products and services. With ability to integrate various card networks, real-time payment channels, and fraud protection tools, it is ideal for international financial institutions looking for a modern, secure payment structure. Vault Payments merges a module-based architecture with operational speed and adaptability, offering a comprehensive solution to revolutionize the digital card issuance and processing sector.

What Are the Key Segments in the Payment Card Issuance Software Market?
The payment card issuance software market covered in this report is segmented

1) By Component: Software, Services
2) By Technology Adoption: Legacy Technologies, Emerging Technologies
3) By Deployment Mode: On-Premises, Cloud
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
5) By End-User: Banks, Financial Institutions, Retail, Government, Other End-Users

Subsegments:
1) By Software: Card Management Software, Card Printing Software, Card Personalization Software, Europay, MasterCard, And Visa Card Issuance Software, Instant Issuance Software, Central Issuance Software, Digital Card Issuance Platforms
2) By Services: Consulting Services, Integration And Deployment Services, Support And Maintenance Services, Managed Services, Training And Education Services

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Who Are the Key Players Shaping the Payment Card Issuance Software Market's Competitive Landscape?
Major companies operating in the payment card issuance software market are SAP SE, TietoEVRY Corporation, Stripe Inc., ACI Worldwide Inc., Galileo Financial Technologies Inc., Entrust Corporation, Marqeta Inc., Pleo Solutions ApS, Clai Payments AB, Nium Pte. Ltd., MagTek Inc., OpenWay Group, CoreCard Software LLC, TAS Group S.p.A., High Tech Payment Systems Group, Silverlake Symmetri Sdn Bhd, Bento for Business Inc., Harland Clarke Holdings Corp., HST Payment Group Ltd., BankWorld, Matica Technologies AG, and NBS Technologies Limited.

What Geographic Markets Are Powering Growth in the Payment Card Issuance Software Market?
North America was the largest region in the payment card issuance software market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in payment card issuance software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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