Insights on the Global Commercial Credit Cards Market (2019 to 2024) - Impact of COVID-19 - ResearchAndMarkets.com

·2-min read

The "Commercial Credit Cards: International Markets Review and Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.

This report provides a detailed review of the commercial credit card markets in four broad regions, including Western Europe, Asia Pacific, Latin America and Caribbean, as well as Central & Eastern Europe, Middle East and Africa. Each regional breakdown includes an analysis of how the pandemic impacts spend during 2020-21, as well as recovery expectations through 2024.

The commercial credit card market for mid-to-large corporates in regions outside of North America has been in a generally strong growth mode for the past several years. In these markets, spending growth remains underpinned by corporate cards, used mostly for travel and entertainment (T&E), as well as virtual cards used to settle with travel management companies, although some additional penetration into other verticals has occurred in both Europe and Asia Pacific.

The consequent spending volume in corporate cards is closely tied to travel budgets and general corporate adoption, therefore the pandemic is causing a major spending downturn in 2020. The utilization of purchasing cards (P cards) and non-travel virtual cards are more directly tied to broader economic activity, the growing use of electronic payments methods, and replacement of checks and cash in the payables process.

Companies Mentioned

  • American Express

  • BC Card

  • Conferma Pay

  • Diners Club

  • Express Technology Services

  • Global Business Travel Association (GBTA)

  • International Monetary Fund (IMF)

  • JCB

  • LianLian DigiTech Co. Ltd

  • Mastercard

  • National Payment Card System (NSPK)

  • Union Pay

  • Visa

Highlights of the report include:

  • A review of the economic impact that COVID-19 is having globally and in each region.

  • Correlation analysis between overall regional credit card spend and the economic downturn through 2021.

  • Commercial credit card spending forecasts for each major region through 2024.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. COVID-19 Impact

  • Global GDP

  • Regional Differences

  • Reason for Optimism

4. Western Europe

  • Overview

  • Economic Conditions Affect Payments

  • Market Spend Summary

5. Asia-Pacific

  • Regional Spotlight

  • Pandemic Payments Correlation

  • Market Spend Summary

6. Latin America and Caribbean

  • Regional Summary

  • Downturn Affects Cards

  • Market Spend Summary

7. Central & Eastern Europe, Middle East and Africa

  • Regional Spectrum

  • Card Payments Correlation (MEA)

  • Market Spend Summary

8. Conclusions and Recommendations

9. References

  • Related Research

  • Endnotes

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20200804005583/en/

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900