2014

Commercial Payment Cards: The U.S. and Global Markets and Trends, 8th Edition

DUBLIN, June 12, 2014 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/th4nvh/commercial) has announced the addition of the "Commercial Payment Cards: The U.S. and Global Markets and Trends, 8th Edition" report to their offering.

http://photos.prnewswire.com/prnh/20130307/600769

While U.S. consumer credit card spending may still be pressured, commercial card purchase volume is moving full steam ahead. According to Commercial Payment Cards: The U.S. and Global Markets and Trends, 8th Edition commercial card purchase volume grew by 13% in 2013, reaching $888 billion. But commercial cards are catching on in both the U.S. and abroad: it is forecast that global commercial card purchase volume to grow by 13% in 2014 and in 2015, rising from $1.4 trillion to $1.79 trillion, with both small businesses and larger corporations fueling growth.

The global landscape is quickly shifting, due in part to the quick ascension of UnionPay, which now generates more commercial card purchase volume than JCB, BC Card and Discover/Diner's Club - and surpassed Visa in 2013 as the largest network by credit and debit purchase volume. With globalization occurring at a rapid pace, payments networks and financial institutions - keen to meet the needs of multinational corporations and to penetrate new markets - are growing alongside the world's large corporations.

And U.S. commercial banks have worked hard to close the commercial payments gap with competitors such as American Express. Long the Apple of corporate payments, American Express can offer cards, service, solutions, and a network all under one roof. But U.S. commercial banks may be taking competition up a notch.

Unlike Apple's competitors, which rely on outside operating software to run their machines, leading U.S. commercial banks can pick and choose, developing in-house proprietary solutions as well as drawing from Visa and/or MasterCard solutions - and tapping their unsurpassed global location reach. But American Express has come into 2014 swinging, keen to leveraging third-party merchant acquiring relationships via its OptBlue U.S. small merchant acquisition.

The basic impetus behind migrating to commercial cards remains cost savings. However, the industry is approaching that impetus with increasingly sophisticated solutions: With names like IntelliLink (Visa), SmartData (MasterCard), PAYVE (American Express) and Paymode-X (Bank of America), the industry has introduced some very enticing value propositions to their corporate clients, allowing them to leverage information, create process synergies, and control costs better than ever before. Gaining traction in the marketplace, these kinds of platforms are the real growth drivers behind the cards, and some no longer rely on physical cards at all.

Key Topics Covered:

Chapter 1: Executive Summary

Chapter 2: Introduction and Overview

Chapter 3: Market Size and Forecast

Chapter 4: Commercial Card Growth Drivers & Trends

Chapter 5: Commercial Card Network Operators

Chapter 6: Commercial Card Bank Issuers & Processors

Chapter 7: Commercial Card Non-Bank Issuers

Chapter 8: Commercial Cards and Government

Companies Mentioned:

  • AirPlus International
  • Comdata Inc.
  • FleetCor Technologies, Inc.
  • MasterCard
  • U.S. Bank Voyager Fleet Systems Inc.
  • Universal Air Travel Plan, Inc.
  • WEX Inc.

For more information visit http://www.researchandmarkets.com/research/th4nvh/commercial

Media Contact: Laura Wood, +353-1-481-1716, press@researchandmarkets.net

SOURCE Research and Markets



RELATED LINKS
http://www.researchandmarkets.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.