Debit Card Market Introduction and Overview
According to SPER Market Research, the Global Debit Card Market is estimated to reach USD 107.42 billion by 2033 with a CAGR of 1.39%.
The report includes an in-depth analysis of the Global Debit Card Market, including market size and trends, product mix, Applications, and supplier analysis. The debit card market is made up of companies, partnerships, and sole proprietorships that sell debit card services and are involved in the processing, storing, and sending of credit card information. Debit cards are payment cards that can be used for both cash withdrawals and purchases that are directly connected to a customer's bank account. Debit card transactions show up on the accountholder's monthly bank statement, and they typically have daily purchase and cash withdrawal limits. Cash dispenser withdrawals are not allowed in this market.
- 2020: MasterCard, a financial services company based in the United States, paid an undisclosed sum for Ethoca Limited, a fintech company. The acquisition is expected to facilitate collaboration between merchants and card issuers in detecting and resolving fraud in digital commerce.
- 2019: According to a bulletin issued by the Bank for International Settlements, an advisor to central banks around the world, the pandemic would help gain momentum for cashless payments around the world.
Market Opportunities and Challenges
Decreased use of cash as a result of various factors contributed to the growth of the debit card market. Cashless transactions reduce the risk of crime and money laundering, reduce tax evasion, and lower transaction costs for businesses, according to various institutional bodies and governments. Connectivity are driving the 6G market growth. People all over the world are depending more and more on smartphones and the Internet for a wide range of purposes. Online sales, gaming, and social media platform usage have all increased as a result of the growing smartphone population. Furthermore, ongoing technological advancements in payment systems, such as the addition of mobile banking apps, biometric authentication, and enhanced security features, have increased consumer trust in the use of debit cards. Contactless payment technology, which provides users with a quick and secure payment option, has accelerated this trend.
However, the widespread availability of mobile devices has increased the use of mobile payments and wallets, which is expected to limit the growth of the debit card market. A mobile wallet is a payment service that allows payments to be received or sent via mobile device. Additionally, concerns regarding data privacy and the gathering of private data have also surfaced. Customers are growing more concerned about the handling of their financial data as they become more conscious of their digital footprint. Maintaining consumer confidence and guaranteeing debit cards' continuous acceptance as a safe and dependable payment option depend on addressing these privacy concerns.
Market Competitive Landscape
Financial institutions, fine tech companies, and technology companies frequently collaborate and form partnerships, which foster innovation and enhance the capabilities of debit cards. Some of the key players are – American Express Company, Bank of America Corporation, Citigroup Inc., HDFC Bank ltd., JP Morgan Chase and Co., MasterCard, PayPal Holdings Inc., PayU, State Bank Of India, US Bank.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Card Type, By Service Provider, By Application
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | American Express Company, Bank of America Corporation, Citigroup Inc., HDFC Bank ltd., JP Morgan Chase and Co., MasterCard, PayPal Holdings Inc., PayU, State Bank Of India, US Bank.
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COVID-19 Impact on Global Debit Card Market
As people looked for safer alternatives to traditional cash handling, one notable effect has been the widespread adoption of digital payments and contactless transactions. Due to their convenience and perceived lower risk of virus transmission, debit cards, particularly those equipped with contactless technology, have grown in popularity. The e-commerce sector experienced a significant surge, with debit cards playing a critical role in facilitating the surge in online transactions during physical retail lockdowns and restrictions.
Key Target Audience:
- Consumers in Emerging Markets
- Government Programs and Social Benefits Recipients
- Frequent Travelers
- Online Shoppers
- Small and Medium-sized Enterprises (SMEs)
- Unbanked and Underbanked Individuals
- Tech-Savvy Consumers
- Young Adults and Students
- Others
Our in-depth analysis of the Debit Card Market includes the following segments:
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By Card Type: |
Classic
Signature
Platinum
Gold
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By Service Provider: |
MasterCard
Rupay
Visa
Other Service Providers
|
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By Application: |
Bank
Commercial
Shopping
Other Application
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Key Topics Covered in the Report:
- Global Debit Card Market Size (FY’2023-FY’2033)
- Overview of Global Debit Card Market
- Segmentation of Global Debit Card Market By Card Type (Classic, Gold, Platinum, Signature)
- Segmentation of Global Debit Card Market By Service Provider (MasterCard, Rupay, Visa, Other Service Provider.)
- Segmentation of Global Debit Card Market By Application (Bank, Commercial, Shopping, Other Application.)
- Statistical Snap of Global Debit Card Market
- Expansion Analysis of Global Debit Card Market
- Problems and Obstacles in Global Debit Card Market
- Competitive Landscape in the Global Debit Card Market
- Impact of COVID-19 and Demonetization on Global Debit Card Market
- Details on Current Investment in Global Debit Card Market
- Competitive Analysis of Global Debit Card Market
- Prominent Players in the Global Debit Card Market
- SWOT Analysis of Global Debit Card Market
- Global Debit Card Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Debit Card Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Debit Card Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Debit Card Market
7. Global Debit Card Market, By Card Type (USD Million)
7.1. Global Debit Card Market Value Share and Forecast, By Card Type, 2023-2033
7.2. Classic
7.3. Signature
7.4. Platinum
7.5. Gold
8. Global Debit Card Market, By Service Provider (USD Million)
8.1. Global Debit Card Market Value Share and Forecast, By Service Provider, 2023-2033
8.2. MasterCard
8.3. Rupay
8.4. Visa
8.5. Other Service Providers
9. Global Debit Card Market, By Application (USD Million)
9.1. Global Debit Card Market Value Share and Forecast, By Application, 2023-2033
9.2. Bank
9.3. Commercial
9.4. Shopping
9.5. Other Application
10. Global Debit Card Market Forecast, 2019-2033 (USD Million)
10.1.Global Debit Card Market Size and Market Share
11. Global Debit Card Market, By Card Type, 2019-2033 (USD Million)
11.1. Global Debit Card Market Size and Market Share By Card Type (2019-2026)
11.2. Global Debit Card Market Size and Market Share By Card Type (2027-2033)
12. Global Debit Card Market, By Service Provider, 2019-2033 (USD Million)
12.1. Global Debit Card Market Size and Market Share By Service Provider (2019-2026)
12.2. Global Debit Card Market Size and Market Share By Service Provider(2027-2033)
13. Global Debit Card Market, By Application, 2019-2033 (USD Million)
13.1. Global Debit Card Market Size and Market Share By Application (2019-2026)
13.2. Global Debit Card Market Size and Market Share By Application (2027-2033)
14. Global Debit Card Market, By Region, 2019-2033 (USD Million)
14.1. Global Debit Card Market Size and Market Share By Region (2019-2026)
14.2. Global Debit Card Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. American Express Company
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Bank Of America Corporation
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Citigroup Inc.
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. HDFC Bank Ltd.
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. JPMorgan Chase And Co.
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. MasterCard
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. PayPal Holdings Inc.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. PayU
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. State Bank Of India
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. US Bank
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
