Worldwide Debit Card Global Industry to 2030 - Featuring Capital One Financial, Visa and MasterCard Among Others

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Jul 30, 2021, 14:15 ET

DUBLIN, July 30, 2021 /PRNewswire/ -- The "Debit Card Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global debit card market as it emerges from the COVID-19 shut down.

The global debit card market is expected to grow from $91.37 billion in 2020 to $94.08 billion in 2021 at a compound annual growth rate (CAGR) of 3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $97.92 billion in 2025 at a CAGR of 1%.

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Where is the largest and fastest growing market for the debit card ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Debit Card market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider debit card market, and compares it with other markets.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The debit card market section of the report gives context. It compares the debit card market with other segments of the debit card market by size and growth, historic and forecast.

Major players in the debit card market are Capital One Financial Corp, American Express Company, Visa Inc, MasterCard, Citigroup Inc, PayPal Holdings Inc, Bank of America Corporation, JPMorgan Chase And Co, PayU, and State Bank of India.

The debit card market consists of sales of debit card services by entities (organizations, sole traders, and partnerships) that are engaged in storing, processing, and transmitting payment card data. Debit cards are payment cards that are linked directly to a customer's bank account and can be used to make purchases and withdraw cash. Debit cards usually have daily purchase and cash withdrawal limits and transactions made via these cards appear on the accountholder's bank statement each month. This market excludes cash withdrawals through a cash dispenser. Only goods and services traded between entities or sold to end consumers are included.

The debit card market covered in this report is segmented by card type into classic, signature, platinum, gold, by a service provider into visa, matercard, rupay, others, by application into commercial, bank, shopping, others.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The universal presence of mobile has increased the use of mobile payments and wallets which are expected to restrain the debit card market growth. Mobile wallet refers to a payment service through which payments could be received or sent using mobile. According to a Forbes article published in March 2020, mobile payments in the USA are expected to exceed $130 billion in 2020 from $69.8 billion in 2018. Most of the mobile wallets have built-in security such as fingerprint touch ID, six-digit password, and other features that reduce the risk of fraud. Mobile wallets like Apple Pay, Samsung Pay, and Google Wallet are coming with advanced features of store checkout, where the customer just needs to take his phone close to the merchant's NFC enabled point of sale. Ease of transaction and more safety features in the mobile wallet will increase its use, restricting the growth of other payment modes including debit cards thus restraining its market growth.

In March 2019, MasterCard, a USA-based financial services company acquired Ethoca Limited, a fintech company for an undisclosed amount. The acquisition is expected to help merchants and card issuers to collaborate for identifying and resolving fraud in digital commerce. Ethoca Limited will strengthen MasterCard's multi-layered cyber strategy and provide its customers with better checkout every time. MasterCard intends to combine Ethoca Limited with its current security activities, data insights, and AI solutions. Ethoca Limited is a Canada-based global network of card issuers and merchants that provides intelligence and technology solutions empowering businesses to prevent fraud and improving customer experience.

Reduction in the use of cash following various factors contributed to the growth of the debit card market. Various institutional bodies and governments are trying to minimize the use of cash as cashless transactions reduce the risk of crime and money laundering, lessen tax evasion, and reduces transaction costs for businesses. For instance, in March 2018, the government of Israel gave final approval for the Minimizing Use of Cash Bill, 5778-2018, thereby prohibiting the citizens from paying an amount beyond the specified limit in cash. Moreover, according to the 2019 Federal Reserve Payments Study, the total number of card payments (credit and debit) represented 75.3% of total core noncash payments in 2018. Prepaid and non-prepaid debit cards were used almost twice as often as credit cards in 2018. The COVID-19 pandemic too has brought a significant reduction in the use of cash. In 2020, a bulletin released by the Bank for International Settlements, advisor to central banks across the world, stated - the pandemic would help gain momentum for cash fewer payments around the world. Thus, reduced use of cash and the ongoing trend of digital payments is expected to drive the debit card market.

Cryptocurrency debit card is a new trend in the cards industry. Crypto debit cards act as an efficient bridge between the existing financial systems and the crypto world. They offer instant purchasing power from bitcoin or other cryptocurrencies. According to a cards and payments industry report published by Infosys, the cryptocurrency market is expected to reach $1.4 billion by 2024, growing at 6.2% annually. Crypto backed debit cards allow cardholders to make payments and withdrawal of fiat currency from ATM, similar to debit cards linked to bank accounts. Major card networks such as MasterCard, Amex, and Visa are focusing on corporate payments with the use of blockchain. Revolut, a UK-based start-up offers the metal card with the MasterCard logo and access to 5 cryptocurrencies and 150 fiat currencies. Moreover, in October 2020, Coinbase launched its cryptocurrency Visa debit card in the USA, which allows customers to spend cryptocurrency anywhere Visa cards are accepted. Increasing acceptance of crypto cards, no foreign exchange fees, access to fiat and crypto-assets with a single card, and cashback rewards are some factors that will support crypto debit card market growth.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Key Topics Covered:

1. Executive Summary

2. Debit Card Market Characteristics

3. Debit Card Market Trends And Strategies

4. Impact Of COVID-19 On Debit Card

5. Debit Card Market Size And Growth
5.1. Global Debit Card Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Debit Card Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Debit Card Market Segmentation

7. Debit Card Market Regional And Country Analysis
7.1. Global Debit Card Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Debit Card Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

8. Asia-Pacific Debit Card Market

9. China Debit Card Market

10. India Debit Card Market

11. Japan Debit Card Market

12. Australia Debit Card Market

13. Indonesia Debit Card Market

14. South Korea Debit Card Market

15. Western Europe Debit Card Market

16. UK Debit Card Market

17. Germany Debit Card Market

18. France Debit Card Market

19. Eastern Europe Debit Card Market

20. Russia Debit Card Market

21. North America Debit Card Market

22. USA Debit Card Market

23. South America Debit Card Market

24. Brazil Debit Card Market

25. Middle East Debit Card Market

26. Africa Debit Card Market

27. Debit Card Market Competitive Landscape And Company Profiles
27.1. Debit Card Market Competitive Landscape
27.2. Debit Card Market Company Profiles
27.2.1. Capital One Financial Corp
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. American Express Company
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Visa Inc
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. MasterCard
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Citigroup Inc
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

29. Key Mergers And Acquisitions In The Debit Card Market

29. Debit Card Market Future Outlook and Potential Analysis

30. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/7xoi86

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