Report Code: A14957 | Pages: NA | Mar 2023 | 1481 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Travel Credit Card Market
Request Now !A travel card is a type of credit card that has been designed with the needs of travelers in mind. A traditional credit card offers cash back or points that can be redeemed for gift cards, merchandise, or discounts. A travel credit card provides benefits that are specific to travel. Furthermore, travel credit cards come with perks such as complimentary lounge access, air mile earning, co-branded benefits with airlines and travel partners, as well as accelerated rewards on travel. These cards are ideal for frequent travelers, whether for business or vacation. Therefore, the increased demand for the growth of travel credit card market is expected to boost the growth of the market in the upcoming years.
"The Global travel credit card market is segmented on the basis of Type, Provider, Application, Industry Vertical and region. Based on type, the market is divided into Co-Branded and Non Co-Branded. In terms of Provider, the market is categorized into Visa, Mastercard. On the basis of Application, the market is divided into Transaction, Communication and Security & Access control. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the globaltravel credit card industry include Bank of America Corporation, Capital One, Citigroup Inc., J.P.Morgan Chase & Co, Mastercard. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the globaltravel credit card market."Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Market Scope and Structure Analysis
Report Metric | Details |
 Market Size Available for Years |  2020–2030 |
 Base Year Considered |  2020 |
 Forecast Period |  2021–2030 |
 Forecast Unit |  Value (USD) |
 Segments Covered | Type, Provider, Application, Industry Vertical, and Region |
 Companies Covered | Major companies analyzed include American Express Company, Bank of America Corporation, Capital One, Citigroup Inc., J.P.Morgan Chase & Co, Mastercard, U.S. Bank, Hyatt Corporation, Synchrony and Induslnd Bank |
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COVID-19 Impact Analysis
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increased adoption of technology and the growing demand for travel credit cards among the developing economies are expected to drive the growth of the market. In addition, the rise in demand for the alternatives of cash propels the market growth. However, a rise in credit card fraud might hamper the growth of the market. On the contrary, the integration of technological advancements to minimize fraud & increase security can be perceived as an opportunity for the travel credit card market analysis in the forecast period.Â
The travel credit card market trends are as follows:
Increased Adoption of Technology:
Due to the emergence of disruptive technologies, travel credit cards have undergone a significant transformation over the years. Travel credit cardholders are victims of fraud all over the world, and so, the majority of companies are attempting to develop advanced analytical solutions to provide safe and simple transactions to their customers, to help prevent fraud. Furthermore, a few firms of online payment applications have announced the launch of travel credit cards to make it easier for new users to enter the travel credit market. Users of the new travel credit card will have access to a unique feature that will allow them to manage their transactions and have complete control over their card usage. As a result, the rise in the number of such developments around the world is providing lucrative opportunities for market expansion.Â
Growing Demand of Travel Credit Cards Among the Developing Economies:
The growth of the travel credit card market forecast payment is fueled by the growing adoption of digital payment systems among the working population in developing countries. Furthermore, to reduce the spread of the COVID-19 virus, which is driving the market's growth, various countries are focusing on increasing the adoption of digital payments for their end-users. The majority of the population in developing economies has increased their use of digital payment systems, such as contactless credit cards, online payments, and others, which is fueling the market's growth. Furthermore, many businesses are rewarding their customers with valuable points, rewards, and cash back's in order to expand their market share in developing countries, which will further promote the growth of the travel credit card market share payment market during the forecasted period.
Key Benefits of the Report:
Questions Answered in the Travel Credit Card Market Research Report
Travel Credit Card Market Report Highlights
Aspects | Details |
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By Type |
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By Provider |
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By Application |
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By Industry Vertical |
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By Region |
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Key Market Players | American Express Company, Bank of America Corporation, Capital One, Citigroup Inc., J.P.Morgan Chase & Co, Mastercard, U.S. Bank, Hyatt Corporation, Synchrony, Induslnd Bank |
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