세계의 차지카드 시장 규모는 2024-2031년의 예측 기간 중 10.63%의 CAGR로 확대하며, 2023년 23억 1,000만 달러에서 2031년에는 51억 8,000만 달러로 성장할 것으로 예측됩니다. 첨단 보안 기능, 프리미엄 혜택, 지출에 따른 혜택, 사용자의 구매력 확대를 위한 한도 제한이 없는 점 등이 세계 차지카드 시장의 성장에 기여하고 있습니다.
차지카드는 이자를 받지 않으며, 동시에 매월 말에 모든 명세서 잔액을 정산해야 합니다. 충전식 카드는 카드 소지자가 매달 잔액 전액을 지불하도록 의무화하여 빚에 빠질 가능성을 낮춥니다. 사용자가 지출을 관리하고 부정 행위와 불필요한 지출을 피하는 데 도움이 됩니다. 엄격한 승인 절차는 강력한 신용 기록과 높은 급여를 요구합니다. 이를 통해 잠재적 위협이 될 수 있는 신청자를 배제하고 안전성을 제공합니다. 충전 카드는 EMV 칩 및 토큰화와 같은 강화된 보안 기능을 사용하여 무단 침입자가 카드 회원 정보에 액세스하거나 열람하는 것을 더 어렵게 만들기 위해 구현됩니다. 발행사는 실시간 거래 알림 및 모니터링을 제공하여 의심스러운 움직임의 첫 징후가 나타나면 카드 소지자에게 즉시 경고를 보냅니다.
차지카드 발급사와 기업의 협업 및 공동 브랜딩 활동도 시장 성장의 주요 요인으로 작용하고 있습니다. 카드사들은 항공사, 호텔, 소매점, 레스토랑 및 기타 기관과 제휴하여 고객에게 더 많은 사람들을 끌어들이는 혜택을 제공합니다. 이러한 혜택은 사람들을 끌어들이고 고객 충성도를 높이는 데 도움이 됩니다. 공동 브랜드 충전 카드는 소비자 관점에서 부가가치를 제공합니다. 이러한 충전 카드는 로고를 사용하여 파트너십을 보여주고 이미 구축된 신뢰와 브랜드 인지도를 활용합니다. 발행사 입장에서는 이미 구축된 파트너 고객 기반을 개방하여 빠른 도입과 시장 진입을 가능하게 합니다. 이 모델을 가장 먼저 도입한 업계 중 하나는 항공사로, 마일리지 카드를 도입했습니다. 따라서 제휴 충전 카드는 신규 고객을 확보할 뿐만 아니라 브랜드 충성도를 높이는 훌륭한 마케팅 툴로 작용하여 궁극적으로 발행사와 제휴사 모두에게 이익을 가져다줍니다.
세계의 차지카드 시장에 대해 조사했으며, 시장의 개요와 유형별, 발행자별, 최종사용자별, 지역별 동향 및 시장에 참여하는 기업의 개요 등을 제공하고 있습니다.
Global charge card market is projected to witness a CAGR of 10.63% during the forecast period 2024-2031F, growing from USD 2.31 billion in 2023 to USD 5.18 billion in 2031F. Factors such as advanced security features, premium rewards, tailored rewards based on spending, and the absence of spending limits that allow users to expand their buying power have led to the growth of the global charge card market.
A charge card does not charge interest and, at the same time, requires that all statement balances are settled at every month's end. Charge cards lower the chances of falling into debt by making it compulsory for cardholders to pay the total amount of their balances every month. It helps users to control their spending, avoiding fraudulent activities and unwanted expenditures. The stringent approval process requires a strong credit history and high wages. It removes applicants that may pose a potential threat, hence providing security. Charge cards utilize enhanced security features, such as EMV chips and tokenization, which have been implemented to make it more challenging for intruders who are unauthorized to access or view cardholder information. Issuers provide real-time transaction notification and monitoring, which alert the cardholder instantly at the first sign of suspicious activity.
In November 2022, Unit, a US-based banking-as-a-service platform, launched a business charge card issuing service to help companies build better financial services for businesses.
Collaborative and Co-Branding Activities are Driving Market Growth
Another major factor contributing to growth is collaborating and co-branding efforts by charge card issuers and businesses. Charge card issuers partner with airlines, hotels, retailers, restaurants, and other institutions to offer their clients rewards that attract more people. These rewards attract people and help in developing customer loyalty. Co-branded charge cards add value to the offering from the perspective of the consumer. Such charge cards display a partnership and make use of logos to leverage established trust and brand recognition. It opens up, for the issuers, the already-established partner customer base, leading to quicker adoption and market reach. One of the very first industries to use this model was airlines, which introduced mileage reward cards that have further developed to include all other industries, from retail to hospitality. Therefore, co-branded charge cards work as excellent marketing tools that not only bring in new customers but also drive brand loyalty, ultimately benefiting both the issuer and the partnering business.
In August 2023, HDFC Bank, India's leading private-sector bank, partnered with Marriott Bonvoy to launch its first co-branded hotel credit card in India. The credit card will run on Diners Club, part of the Discovery Global Network, and aims to be one of the most rewarding travel cards in India.
Growth in the Affluent and High-spending Consumer Segments is Leading to Market Expansion
One of the most attractive features of the charge card is the absence of a spending limit which expands the buying power of the customers, unlike a credit card. This makes it particularly attractive in the eyes of the affluent and high-spending consumer segment as it provides flexibility. High-spending individuals, including business executives highly value the premium rewards and discounts provided by charge card issuers. These benefits include airport lounge access, travel insurance, dining, travel bookings, and discounts with airlines. As the economy expands, giving rise to more affluent customers, the demand for charge cards is expected to increase
In September 2023, the US Bureau of Labour Statistics noted a 12.9% rise in personal consumption expenditures in 2021 and 9.2% in 2022, fueling the demand for charge cards in response to increased spending behaviors.
Banks to Compose the Significant Global Charge Card Market Share
Based on charge card issuer, banks had the largest market share. It can be attributed to their large customer bases and extensive distribution channels that helped them create product awareness about charge cards. With data analytics providing real-time information on consumer behavior, banks can offer tailored card products for their different customer segments to make the user experience more personalized. The strategic approach creates brand loyalty and ensures deeper market penetration.
Moreover, digital banking and e-commerce growth have boosted the need for more convenient and secure payment solutions, thus driving the charge card market. The necessity of cashless transactions has made charge cards a very important tool for online transactions as they provide customers with a safe means for making payments. The convenience provided by charge cards, through their integration into digital wallets and contactless payment systems, fits shifting consumer preferences for efficient methods to make payments. The charge card market's overall growth trajectory is likely to continue, driven by technological developments and a progressing demand for digital payment solutions. Banks are adjusting to the changing market dynamics with technical innovation and are likely to dominate the market segment in the future.
However, the NBFC market is expected to expand as they frequently implement innovative features and incentive programs on their charge cards, drawing more customers and increasing card usage. These organizations use digital technologies to manage cards efficiently and conveniently, making them appealing to tech-savvy customers.
The Corporate Segment Dominates the Market
Based on end-users, the corporate category holds dominance. Businesses increasingly perceive charge cards as a means of better expense management, streamlining financial operations, and exercising greater control over company expenditures. Furthermore, charge card issuers have begun working on several features and benefits that would particularly aid the business segment. Hence, demand in the corporate sector fuels the growth of the overall charge card market. They are driving innovation in charge card offers, requiring suppliers to provide rewards, cost control tools, and comprehensive reporting. This competitive climate encourages product creation and diversification, which boosts market growth.
In February 2024, BOBCARD, a subsidiary of Bank of Baroda and National Payments Corporation of India, launched a Corporate Credit Card on RuPay Network. It aims to cater to the diverse need of corporations, providing them with an efficient and safe solution to conduct seamless transactions.
North America Dominates the Market
North America holds the highest market share, attributed to the adoption of digital payment technologies and mobile apps enhancing the user experience for charge cardholders. Features such as digital wallets, real-time spending alerts, and mobile payment options may make charge cards more attractive in North America.
Bolstered by several key factors, the United States commands a dominant position in North America and the global charge card market. Being a country with a highly developed financial infrastructure, the United States has a mature card industry. Credit card usage is deeply ingrained in consumer spending habits, and the widespread acceptance of cards for everyday purchases, spanning retail, dining, travel, and online shopping, contributes to the country's robust penetration. Moreover, the prevalent culture of rewards and incentives tied to charge card usage, such as cashback, travel perks, and loyalty programs, further fuels consumer preference for credit cards in North America, fostering the market share of the region in the global charge card market.
Future Market Scenario (2024 - 2031F)
The future of the charge card business demonstrates a continual shift toward individualized digital experiences, with suppliers prioritizing increased security and user-centric customization.
The charge card industry, with its focus on individualized digital experiences and enhanced security, is poised for significant growth. These developments are set to revolutionize the payment landscape, making the market an attractive prospect for business owners and professionals.
In September 2022, Mercury, a financial technology company based in the United States that operates in the charge card market, announced a corporate charge card called IO MasterCard, designed to assist founders in confidently scaling their businesses. It provides automatic 1.5% cashback on all purchases, with no personal credit check, a 0% annual percentage rate, and a 30-day interest-free payback period. The IO Card provides simple cashback benefits, quick and easy signup, simple employee card onboarding, spending controls, receipt gathering, and automatic payment scheduling.
Key Players Landscape and Outlook
The charge card market is highly competitive and diverse, with many international and regional players. The companies in this space are constantly developing their technology and upgrading their products to attain a competitive advantage. Fierce competition has prompted companies to indulge in various strategic activities like mergers, acquisitions, and partnerships to increase their reach and deliver better services to customers. Many new business deals and product launches have been observed in the sector as companies evolve to keep up with the changing consumer preferences. Advanced technologies such as blockchain and instant payment solutions are changing the operational dynamics of the market. As companies adapt to these changes, they are enhancing not only their product lines but also the transaction speed and transparency, which is critical in maintaining customer satisfaction and brand loyalty in a fast-changing financial ecosystem.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.