Commercial Credit Cards: North America Market Review and Forecast 2018-2024
DUBLIN, Aug. 21, 2020 /PRNewswire/ -- The "Commercial Credit Cards: North America Market Review and Forecast, 2018-2024" report has been added to ResearchAndMarkets.com's offering.
The commercial credit card market for mid-to large corporates in North America has been in a generally strong growth mode for the past several years.
In North America, the most mature commercial credit card market, recent growth has been primarily boosted by non-travel spend as the industry continues its transition to B2B payables relevancy. As a result, the extended suspension of business travel, although a damaging blow to issuer bottom lines into 2021, will be somewhat offset by subsequent gains in business-to-business payments as companies accelerate digital adoption.
The utilization of purchasing cards (P cards) and non-travel virtual cards is more directly tied to broader economic activity, the growing use of electronic payments methods, and replacement of checks and cash in the payables process.
This research report, Commercial Credit Cards: North America Market Review and Forecast 2018-2024, provides a detailed review of the commercial credit card markets in Canada and the United States, including an analysis of how the pandemic impacts spend during 2020-21, as well as recovery expectations through 2024.
The pre-pandemic growth trajectory was quite good overall in North America, as 2019 virtual card spend exceeded corporate travel card spend for the first time, so the comeback in spend longer term is going to be more associated with utilization of card rails in payables as the recessionary curve unfolds.
Highlights of the report include:
- A review of the economic impact that COVID-19 is having in the region
- Correlation analysis between overall regional credit card spend and the economic downturn through 2021
- Commercial credit card spending forecasts for Canada and the U.S. through 2024
- Key industry trends in technology and client expectations
Key Topics Covered
Executive Summary
Introduction
North America Payments Landscape
- Overall Commercial Spend Activity
- COVID-19
- Network B2B Focus
Market Reviews
- U.S. Overview
- Market Spend Summary and Product Distribution
- Canada Overview
- Market Spend Summary and Product Distribution
Trending Forward
- Technology Advances
- Ease of Experience
- Mobile
Conclusions
References
- Related Research
- Endnotes
List of Figures
- North American commercial consumption expenditure (CCE) and mid-to-large market commercial credit card spend, 2019
- Even in the best case scenario, there will be substantial lost economic production
- U.S. network share mid-to-large market commercial credit cards, 2019
- U.S. aggregate commercial credit card growth interrupted; as correlated with GDP forecasts, 2021 suggests a smart rebound.
- U.S. mid-to-large market commercial credit card spend, 2018-2024: recapturing momentum
- Canada overall credit card spend suggests a 12% spend gap from prior trends into 2021
- Canada mid-to-large market commercial credit card spend, 2018-2024: recovery mode
Companies Mentioned
- American Express
- Citi
- Coupa
- Cvent
- Diners Club
- Interac
- International Monetary Fund (IMF)
- Mastercard
- PNC Bank
- R3
- SAP Concur
- The Conference Board
- Visa
- World Health Organization
For more information about this report visit https://www.researchandmarkets.com/r/9uqip0
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SOURCE Research and Markets
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