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Global Co-branded and Affinity Cards Market is set to Grow at a CAGRof 2.9% Over the Forecast Period (2019 - 2027), Because of Increasing Awareness and Adoption of Rewards Based Cards From the Youth: Says Absolute Markets Insights
  • India - English

The major providers in the co-branded and affinity cards market include Bank of America Corporation, Barclays, Capital One, Citigroup Inc

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News provided by

Absolute Markets Insights

Feb 26, 2020, 05:00 ET

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PUNE, India, Feb. 26, 2020 /PRNewswire/ -- The co-branded and affinity cards market is observed to be growing at a steady pace on a global level. The collaboration of banks and financial institutions with market participants from various industry verticals for the creation of co-branded cards along with the significant marketing initiatives for co-branded cards are the major factors affecting the adoption of co-branded cards on a global level.

The growth in the adoption of cashless transactions on a global scale has led to the rise in allied payment modes including card payments, online bank transfers (internet banking), and peer-to-peer online transfers amongst others. Card payments have been a tried and tested methodology for completing payments on a global scale owing to the standardization in the payment technology coupled with a positive response from the stakeholders in various financial transactions including consumers, sellers, and others.

Request a [email protected] https://www.absolutemarketsinsights.com/request_sample.php?id=435

Banks and financial institutions have been investing actively in order to grow their customer base on a global scale/level. These organizations are creating enticing services and products and are targeting them to specific sections of the overall population in order to create an ever-increasing customer base. The target customers for any services related to credit and debit cards are observed to be the youth and the working population. The youth customers consist of traditional banking service consumers along with newer users who would experience such cards in collaboration with various companies. These companies are willing to market certain products along with their traditional offerings to create financial a comprehensive product lineup.

In terms of the products provided in the market, users are showing a better adoption rate for cards that are offering rewards and benefits for every transaction that they complete through their co-branded cards. Rewards are offered in terms of specific products and services that the company is manufacturing/developing/distributing. These rewards are expected to keep the client from adopting various products along with the ongoing projects from the issuer/organization. Furthermore, these rewards are providing companies as a consumer retention tool across various regions. The adoption of products and services under the rewards section shows a direct correlation with the adoption levels of the co-branded cards. The concept of providing special discounts on various products only because the user is using the co-branded card is gaining traction across the world and is expected to grow gradually over the forecast period.

Enquiry Before [email protected] https://www.absolutemarketsinsights.com/enquiry_before_buying.php?id=435 

In terms of revenue, the global co-branded and affinity cards market stood at US$ 1784.62 Bn in 2018 and is anticipated to reach US$ 2328.46 Bn by 2027, expanding at a CAGR of 2.9% during the forecast period.   

"The adoption of co-branded and affinity cards is expected to grow owing to the influx of numerous users into the banking industry. Banks and financial institutions are aiming to secure new banking users through dedicated co-branded cards. Also, the working population who require transportation services are being targeted by companies through their transportation-focused co-branded cards."

The detailed research study provides qualitative and quantitative analysis of the global co-branded and affinity cards market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers regional product/service analysis. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

Request for [email protected] https://www.absolutemarketsinsights.com/request_for_customization.php?id=435

Key Findings-

  • In co-branded and affinity cards market, banks are the largest revenue generating entity for the issuers in the market. This is primarily due to significant presence in the consumer finance sector coupled with the conducive initiatives undertaken for corporate partnerships in order to form co-branded cards.
  • Rewards based cards are observed to the most utilized co-branded cards in the current scenario. The major factors for the adoption include positive responses from consumers towards rewards as opposed to price discounts on various items and increasing acceptance of rewards as a method to improve client retention from organizations.
  • The adoption of Co-branded and Affinity Cards is observed to be the highest in the region of North America. The provision of cards from numerous banking institutions along with active participation from organizations from various industry verticals for card collaborations is aiding the demand for the market offerings across the region.
  • The major providers in the co-branded and affinity cards market include Bank of America Corporation, Barclays, Capital One, Citigroup Inc., Commerce Bancshares, Inc., First National Bank of Omaha, JPMorgan Chase Co., Openbank, Synchrony, and U.S. Bank National Association amongst others.

Co-branded and Affinity Cards Market:

By Card Type

  • Debit or Pre-paid Cards
  • Credit Cards

By Issuer

  • Banks
  • Financial Institutions

By Card Category

  • Reward Points Based Cards
  • Discount Based Cards
  • Charity Based Cards

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark  
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Get Full Information of this premium [email protected] https://www.absolutemarketsinsights.com/reports/Co-branded-and-Affinity-Cards-Market-2019-2027-435

About Us:

Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.

Contact Us:
Company: Absolute Markets Insights
Email id: [email protected] 
Phone: +91-740-024-2424
Contact Name: Shreyas Tanna
The Work Lab,
Model Colony, Shivajinagar, Pune, MH, 411016
Website: https://www.absolutemarketsinsights.com/ 

SOURCE Absolute Markets Insights

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