World Market for Consumer Finance

November 2022

The world market for consumer finance has continued to see card and electronic payment value grow for consumers around the world, following the decline in spending brought on by COVID-19. Card payment value growth over the forecast period is expected to be split between credit and debit card functions, with the Asia Pacific region generating the majority of card payment value. High inflation and the risk of a global recession are causing uncertainty for consumer payments going forward.

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This report comes in PPT.

Key Findings

Credit growth continues to outpace debit

An additional USD18.5 trillion is expected to be processed on financial cards by 2027, with credit and debit card functions splitting the value equally. Credit, starting from a lower base than debit in 2022, will see faster growth.

Asia Pacific drives global card payment value growth

58% of all consumer card payments came from the Asia Pacific region in 2022. This is predicted to rise to 63% by 2027, as the region’s position strengthens as a hub for financial card development and innovation.

M-commerce to top USD10 trillion by 2027

M-commerce continues to grow rapidly, benefiting from the continued migration of retail online and the increased capabilities of mobile devices. The nearly universal adoption of smart devices enables consumers all over the world to make purchases from anywhere quickly, easily and securely.

B2B the next paper payment conversion opportunity for payment players

The major financial card and electronic direct players looking to grow volume by converting paper payments have the best opportunity in B2B payment value. Only 2% of all B2B payment value globally took place on financial cards in 2022.

BNPL becoming more common place across markets

The number of merchants, fintechs and financial institutions offering BNPL solutions has increased significantly over the last two years. BNPL is becoming a go-to lending solution for an increasing range of products and services, and is expected to gain additional traction going forward.

Scope
Examining five trends shaping the consumer finance industry
Card payment value to maintain strong growth
Transition away from paper payments
Card payment value by market
Largest regions by card payment value
Developing regions
B2B payment value breakdown
Cash declines in regions with highest payment value
Cash conversion opportunity in emerging market regions
China and US lead by payment value
Beyond the US and China
Network landscape
Leading global card networks (1)
Leading global card networks (2)
Issuing landscape (1)
Issuing landscape (2)
Issuing landscape (3)
Examining five trends shaping the consumer finance industry
Continued rebound in credit payment value
Asia Pacific payments leader, but growth moderating
M-commerce benefits from shifting retail formats
B2B payment value opportunity
BNPL gaining share of consumer lending
Global snapshot of card growth
Global snapshot of credit
Global snapshot of debit
Global snapshot of charge
Global snapshot of open-loop pre-paid
Regional snapshot: Asia Pacific
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Eastern Europe
Regional snapshot: Australasia
Regional snapshot: Australasia
Definitions

Consumer Finance

This is the aggregation of ATM, charge, credit, debit, e-purse and retail cards. Note that smart cards are not included in financial cards.

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