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Global Payment Card Issuance Software Market is Witnessing Remarkable Growth (Inducing Pre & Post COVID Impact); A Report by Absolute Markets Insights

Published On 28 Jun 2022 03:58 PM


The massive boom witnessed by e-commerce companies like Amazon along with growing banking & financial sector is the primary reason why the global payment card issuance software market is growing rampantly. Paying for various things like online shopping, offline shopping, fuel or gifting someone, has become extremely convenient courtesy of payment cards like credit and debit cards. Many government bodies across the globe are striving for a cashless economy in an attempt to monitor everything and to also bring down the level of corruption. Decent credit history makes payment cards easily available, especially the credit card that too at extremely cheap interest rates.

Use of payment cards, especially credit cards went up during the times of coronavirus pandemic. Rise in unemployment along with significant pay cuts forced most of the people to apply for payment cards. Basically, the pandemic was a boon for the global payment card issuance software market.

As stated above, cashless payment model in being adopted by several countries thanks to multiple payment apps which are backed by government affiliated payment gateways has been driving the growth of the global payment card issuance software market. Right from bigger businesses to small shopkeepers, everyone has a swipe machine and this contributes to the growth of this market. Additionally, by using payment cards, users are entitled to multiple offers and discounts and that creates higher demand for payment cards.

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While these payment cards are boon in the era when everything is fast-paced, it also has a con. Data of many card users is of private nature and is likely to get compromised. This plays a huge restraining factor in the growth of the global payment card issuance software market.  Irrespective of few hiccups, the global payment card issuance software market is forecasted to see tremendous growth owing to technological advancements. For instance, use of artificial intelligence (AI) and blockchain in the software that issues payment card will directly contribute to the growth of this market.

Key Takeaways - Global Payment Card Issuance Software Market: 

  • In terms of revenue, the global payment card issuance software market is growing at an estimated CAGR of 14.5% over the forecast period (2022 – 2030).
  • The services segment of the global payment card issuance software market is forecasted to witness fastest growth over the period. The revenue generated by this segment is of recurring nature, and this will be the reason behind its success.
  • On the basis of organization size, the small and medium enterprises segment will be seeing fastest growth over the forecast period and this is because the payment card issuance software is currently available at extremely affordable rates. Even the smallest businesses are using this software.
  • The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global payment card issuance software market. The population in countries like China and India is a big advantage for this market. Annually several people apply for payment cards which directly is likely to create huge demand for the payment card issuance software market.

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Few of the key players operating in the global payment card issuance software market are listed below:

  • ACI Worldwide  
  • Bento Technologies Inc.
  • CR2
  • Entrust Corporation
  • Financial Software and Systems Private Limited
  • FIS
  • Fiserv, Inc.
  • Girmiti Software Private Limited
  • HID Global Corporation (ASSA ABLOY)
  • Hightech Payment Systems
  • Marqeta
  • NBS Technologies Inc.
  • NCR
  • Pleo Technologies Ltd
  • Software
  • TAS
  • Thales Group
  • Way4
  • CoreCord Software Inc.
  • Other Market Participants

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Global Payment Card Issuance Software Market

By Offering

  • Solutions
    • Cloud
    • On Premise
  • Services

By Organization Size

  • Small and Medium Enterprises
  • Large Enterprises

By Application

  • Credit Card
  • Debit Card
  • Prepaid/ Gift Card
  • Virtual Card
  • Retail/ Fuel Card
  • Others

By End Users

  • Businesses
  • Banking Companies

By Region

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)

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Press Release Provided By: Absolute Markets Insights