The global debit card market size is expected to grow from $90.49 billion in 2021 to $93.23 billion in 2022 at a compound annual growth rate (CAGR) of 3%. The global debit cards market size is expected to grow to $96.84 billion in 2026 at a CAGR of 1%.
What is the Global Debit Card Market?
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.
Get a Sample of the global debit card market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=3607&type=smp
What drives the Global Debit Card Market?
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 reduce transaction costs for businesses. For instance. 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. In June 2021, according to Financial Times, there is a 35% reduction in cash payments. Thus, reduced use of cash and the ongoing trend of digital payments is expected to drive the debit card market.
Get the full global debit card industry report here
https://www.thebusinessresearchcompany.com/report/debit-card-global-market-report
Global Debit Card Market Segments
The global debit card market is segmented:
By Card Type: Classic, Signature, Platinum, Gold
By Service Provider: Visa, Mastercard, Rupay, Others
By Application: Commercial, Bank, Shopping, Others
By Geography: The regions covered in the air cargo services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Debit Card Global Market Report 2022provides market size and growth forecasts for the global debit card market, global debit card market share, debit card market segments and geographies, debit card market competitive landscape including leading competitors’ revenues, profiles and market shares. The debit card market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Debit Card Industry Playersinclude Capital One Financial Corp, American Express Company, Visa Inc, MasterCard, Citigroup Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
