Global Commercial Payment Cards Market By Card Type (Purchase Card, Business Card, And Other Cards), By Application (Small Business Card And Large Business Card), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2028

Market.us announces publication of its most recently generated research report titled, “Global Commercial Payment Cards Market by Card Type (Purchase Card, Business Card, Travel and Entertainment Card and Other Cards), By Application (Small Business Card and Large Business Card), and by Region – Global Forecast to 2028.”, which offers a holistic view of the global Commercial Payment Cards market through systematic segmentation that covers every aspect of the target market.

The global Commercial Payment Cards market is projected to be US$ 3,742.1 Mn in 2019 and is projected to reach US$ 7,353.4 Mn by 2028 at a CAGR of 7.7%.

A commercial card is a credit card allotted by companies for their employees to purchase on behalf of their organization. These cards are issued as co-branded cards with retailers; commercial cards assist businesses to manage their expenses by collecting all charges made by employees into a single place. Commercial cards are issued through a financial institution. This kind of partnership allows companies to earn rewards and discounts for purchases they were already going to make at the co-branded company. Commercial cards come in different variations; one is corporate credit card and small-business credit cards.

Commercial Payment Cards and solutions help large corporations, midsize companies, small businesses, and government entities. Card provider companies’ solution streamlines procurement and payment processes, manage information and expenses (such as travel and entertainment) and reduce administrative costs. There are different types of card offerings, including travel, small business debt, and credit card, purchasing, and other cards.

Global Commercial Payment Cards Market Revenue (US$ Mn), 2018–2028

Snowballing number of corporate card service providers in Europe is one of the major factors driving the growth of the commercial payment cards market in this region.

However, increased card frauds along with security breaches and identity theft are some significant risks which might hamper the target market in the future. Nonetheless, the increasing popularity of other payments solutions and digital commerce in the picture is expected to boost the market growth for many years.

Global Commercial Payment Cards market is segmented based on Card type, application, and region. Based on Card type, the market is segmented into Purchase Card, Business Card, Travel and Entertainment Cards and Other Cards. The Business Card segment accounts for the majority share and is expected to register the highest growth over the forecast period. Based on application, the market is segmented into Small Business Card and Large Business Card. The Large Business Card segment accounts for a majority share in the global Commercial Payment Cards market.

Global Commercial Payment Cards Market by Card Type, 2018

Based on the region, the market is segmented into North America, Europe, APAC, South Americ, and Middle East Africa. The APAC accounts for the majority share in the global Commercial Payment Cards market and is expected to register the highest growth rate over the forecast period.

The research report on the global Commercial Payment Cards market includes profiles of some of the major companies such as JPMorgan Chase & Co, Bank of America Corporation, Citigroup Inc., Wells Fargo & Company and Barclays PLC.

Key Market Segments:

Type

• Purchase Card
• Business Card
• Travel and Entertainment Cards and Other Cards

Application

• Small business card
• Corporate card

Key Market Players included in the report:

• JPMorgan Chase & Co
• Bank of America Corporation
• Citigroup Inc.
• Wells Fargo & Company and Barclays PLC

For the Commercial Payment Cards Market research study, the following years have been considered to estimate the market size: