14.87% CAGR for credit payment market till 2020
The Novonous report titled ‘Global Credit Debit Payment Card Market 2016-2020’ expects the global credit & debit payment card market to grow at 14.87% CAGR till 2020, representing huge opportunities in this sector. This growth will be propelled mainly due to the unprecedented boom of the global ecommerce market and surging acceptance of the mobile payments market. In terms of transaction value in USD, 87% of global credit/debit card market is captured by North America, Europe and APAC region. Visa Inc. has displayed a clear domination, accounting for about 60% market share in 2014. Visa debit cards alone hold a share of over 37% of the entire industry. In terms of geography, the APAC region has displayed the highest growth percentage in 2014.