The cards market comprise establishments engaged in storing, processing and transmitting payment cards data. This market covers issuing and acquiring banks, card processing and issuing companies and others. Revenue generated from the cards market include all processing and service fees levied by banks and financial institutions for processing card-based payments. It excludes interest charged by banks on payment cards.
The top five companies covered are American Express Company, Visa, MasterCard, FIS and Bank of America. American Express Company was the largest competitor in the market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global cards market was valued at over $250 billion in 2017. North America was the largest region in the cards market in 2017, accounting for around 60% of the global market. The USA was the largest country in the market in 2017, accounting for nearly 55% of the market.
The global payments industry has witnessed rapid increase in the adoption of EMV technology. This growth is driven by a higher level of data security offered by EMV chip and PIN cards as compared to traditional magnetic stripe cards. EMV is a security standard for various payment cards including debit, credit, charge and prepaid cards. The chip carries data of the cardholder and the account, which is protected using both hardware and software security measures.
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