Commercial or Corporate Card Market Is Estimated To Witness High Growth
The Global Commercial or Corporate Card Market is estimated to be valued at US$ 26.3 Billion In 2017 and is expected to exhibit a CAGR of 7.3% over the forecast period 2018-2026, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Commercial or corporate cards are payment cards issued by organizations to their employees for business-related expenses. These cards provide convenience and flexibility in managing corporate expenses, streamline the payment process, and offer benefits such as rewards, rebates, and discounts. Commercial cards are widely used in various industries such as travel and entertainment, healthcare, retail, and others. The market is witnessing significant growth due to the increasing trend of corporate travel and the growing adoption of cashless transactions.
Market Dynamics:
The global commercial or corporate card market is primarily driven by two key factors. Firstly, the increasing number of corporate business trips is boosting the demand for commercial cards, as they offer a secure and convenient mode of payment during travel. Additionally, the growing trend of digital payments and the need for efficient expense management are further driving the market growth. Moreover, the integration of advanced technologies such as mobile payments, contactless payments, and virtual cards is expected to propel the market in the coming years.
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Romaian