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Credit Card Payment Market Foreseen to Grow Exponentially by 2030 – SMU Daily Mustang

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Credit Card Payment Market Foreseen to Grow Exponentially by 2030 – SMU Daily Mustang


According to the Market Statsville Group (MSG), the global credit card payment market size is expected to grow from USD 148,380.0 million in 2021 to USD 284,979.2 million by 2030, at a CAGR of 8.5% from 2022 to 2030A credit card provides high-security features for transferring payments from one account to another, which increases the demand for credit cards among its users. Furthermore, credit cards deliver numerous benefits to customers, including providing instant loans, increasing the transaction’s safety, and offering different credit scores and cashback based on user’s transactions.

The rise in demand for cash alternatives and the availability of affordable credit cards across the globe boost the growth of the global credit card market. Additionally, the rise in demand for credit card among the youths of developing nations positively impacts the market’s growth. However, factors such as an increase in the credit card frauds across the world is expected to hamper the market growth. On the contrary, technological advancements in product offerings like using blockchain for increased security is anticipated to offer remunerative opportunities for the expansion of the market during the forecast period.

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Global Credit Card Payment Market Definition

credit card is a payment card issued to cardholders to enable the cardholder to pay a…

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