The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMar 2017
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Card payment companies have put increasing pressure on the cash-based systems that dominate consumer payments in many markets around the globe. For credit card issuers and networks, developing loyalty programmes and attractive features are crucial means of differentiating their value from competing payment methods, such as debit cards. This briefing explores Euromonitor’s 2016 study of credit cards in 46 markets, with an eye toward better understanding their unique personal credit landscapes.
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The Americas and Asia Pacific are crucial players in personal credit cards. These regions represent an overwhelming majority of global transaction value, and are home to the majority of co-branded offerings.
Co-branded credit cards are disproportionately skewed toward a handful of markets. Only nine of the 46 researched markets featured at least 10 different merchants with co-branded personal credit cards, while just three countries featured more than 15 merchants with card offerings.
Some markets feature uncommon account arrangements and cards tailored to unique financial environments. Examples include Sharia-compliant credit cards (to serve Muslim consumers adhering to the Islamic ban on interest), and dual card accounts (which can help overcome merchant acceptance barriers).
Interchange fee limits in some markets can put pressure on rewards programmes – a major feature in drawing consumers to credit cards.
Airlines and retailers are the most likely merchants to carry co-branded credit cards. Large retailers such as Amazon, Carrefour and Walmart are present in a number of countries. Co-branded credit cards issued by hotel chains are uncommon. Only eight markets feature any hotel co-brand cards, typically only in the headquarters market of large multinational hotel chains.
Personal credit cards frequently feature instalment billing options which allow consumers to create fixed payments. Many cards offer interest-free instalment plans at participating partner merchants as an additional selling point.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.