There are now a number of established markets and robust capabilities for commercial cards in the Asia-Pacific region, with room for increased spend capture in developed economies through greater middle-market adoption and program compliance.
Boston, MA (PRWEB) February 12, 2016
Commercial card growth in the Asia-Pacific region has been robust and primarily associated with travel spend. The diverse region is not necessarily an easy place to do business for financial institutions, but expectations for growth of purchasing cards and virtual cards are positive.
Mercator Advisory Group's newest research note, Asia-Pacific Commercial Credit Cards: Market Review, discusses the current state and near-term outlook for mid-to-large market commercial credit cards across the region. The economic growth in Asia Pacific during the past 10 years, along with associated business travel spend, has driven general regional spend growth to near 20% annual rates during this decade. There remains substantial opportunity for capturing more of the expected increase in travel spend in formal corporate programs using commercial T&E (corporate) cards. Additionally, the expected market for purchasing cards (P-cards) and single-use accounts (also known as virtual cards or payments) in the corporate procurement space will drive ongoing double-digit growth through 2020.
"There are now a number of established markets and robust capabilities for commercial cards in the Asia-Pacific region, with room for increased spend capture in developed economies through greater middle-market adoption and program compliance” says Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service and author of the report, “but it is a vast and diverse region, with nascent programs in many markets. Great opportunities for volume capture exist in China, India, and the ASEAN member countries.”
Highlights of the research note include:
- A review of the region’s expected growth and spend opportunities
- Predictions for commercial card growth by product type through 2020
- Estimated network share capture through 2020
The note is 10 pages long and contains 4 exhibits
Companies mentioned in this research note include Alipay, American Express, China UnionPay, JCB, Diners Club, Invapay, MasterCard, PayPal, Visa, and Yuupay.
Members of Mercator Advisory Group's Commercial and Enterprise Payments Advisory Service and Global Payments Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.