Global Demand for Payment Cards is Expected to Surge, Backed by Rising Use of Electronic Payment Methods, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Payment Cards Industry. Incremental technology improvements in secure electronic payment systems and the ensuing boost to consumer confidence is expected to drive the use of credit and debit cards for payments in the upcoming years.

Payment Cards: A Global Outlook

Follow GIA on LinkedIn – With the point-of-sale and the online markets rapidly gaining importance, the electronic payment system is poised to reach more number of retail and wholesale outlets worldwide. Smart cards and transponders are some of the microchip based payment devices, which are being effectively used in business transactions. The introduction of the new Chip Card system adds further security and safety as most of the chip cards are difficult to copy and therefore add to the anti-fraud safety in the transaction. The huge untapped potential can be put into perspective by the fact that the point-of-sales technology, especially in developing countries is still used in making just basic payments.

Credit cards are fast becoming the world’s most popular form of borrowing. Credit card usage is catching up in several countries worldwide. In addition to banks, retail finance service providers are also involved in issuing credit cards thereby increasing competition in this part of the market. All the credit and debit card services are expected to register a good increase in assets, transactions and operating income in the forthcoming years. The rise of online trading and purchasing will also spiral the use of credit and debit cards in the upcoming years.

Globally in the payment cards market, debit-card transactions are rising drastically driven by continued consumer preference away from credit cards. This is mainly due to the fact that unlike credit cards, debit card transactions do not lead to accumulation of debts thus making debit cards very attractive to consumers. The market is growing for both PIN debit and signature debit transactions. Signature-capable debit-card penetration is higher than PIN-based cards. Overall, the market for business debit cards is booming and many financial institutions are issuing these cards to consumers. To boost up debit-card use, many issuers are also introducing reward point programs for card transactions.

The research report titled “Payment Cards: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted include the United States, Canada, Japan, Germany, Italy, UK, Australia, China and India among others. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Payment_Cards_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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