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Financial Cards and Payments Market Size And Forecast
Financial Cards and Payments Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

The in the E-commerce offers provided by the online merchants have enhanced the accessibility and availability which is drawing the consumers towards it. Factors such as security and privacy are further boosting the market growth. The Global Financial Cards and Payments Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Financial Cards and Payments Market Definition
Financial cards are part of a payment system issued primarily by financial institutions, IT & Telecom offices, and Media & Entertainment houses, Government agencies to have hassle-free transactions, and ease in the payment operations. For example, a bank provides financial cards to a customer to access the funds in the customer’s designated bank accounts, or through a credit account and make payments by electronic funds transfer and access automated teller machines. Financial cards are deployed using numerous technologies such as embossing, magnetic stripe cards, smart cards, proximity cards, and re-programmable magnetic stripe cards. Traditional payment systems such as cash payments, demand drafts, and other payment certificates have become obsolete due to technological advancements in financial cards and payment systems.

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Global Financial Cards and Payments Market Overview
The trend of adoption of Electronic payment through financial cards has increased at a rapid pace in the past few years. The factors responsible for the rise in growth are convenience and higher flexibility offered. The penetration of the internet even in the smallest of regions in the world has supported the growth of the financial cards and payments market. Moreover, through financial cards and payment systems, numerous financial transactions can be executed between entities located anywhere in the world. These factors are collectively driving the overall market on a global level. In, addition, other varieties of financial cards including Scrip, gift cards, and electronic purse have gained popularity and serve to a very niche market. The new technology has led to the introduction of proximity cards that are contactless integrated circuit devices that make use of radio frequency identification (RFID) technology. Proximity cards are gaining immense popularity in private payment systems and public transit payments and are expected to bring new avenues for the market during the forecast period. Market players are collaborating with bank merchants and card association network providers to enhance their global market.

Global Financial Cards and Payments Market: Segmentation Analysis
The Global Financial Cards and Payments Market is segmented based on Product, Application and Geography.

Financial Cards and Payments Market by Product
Bank Card
• Recharge Spending Card
Based on Product, the market is bifurcated into Bank Card, Recharge Spending Card. The bank card will continue the market share during the forecast period with a huge margin. With increasing awareness about recharge spending cards in middle-aged people, the segment is likely to witness significant growth over time.

Financial Cards and Payments Market by Application
BFSI
• IT & Telecom
• Retail
• Media & Entertainment
• Government & Public Sector
• Manufacturing
• Healthcare
• Others


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Based on Application, the market is bifurcated into BFSI, IT & Telecom, Retail, Media & Entertainment, Government & Public Sector, Manufacturing, Healthcare, Others. The BFSI application segment will continue to dominate the market during the forecast period. The Media and Entertainment segment is expected to rise significantly during the period owing to the availability of attractive offers and discounts on financial cards.

Financial Cards and Payments Market by Geography
North America
• Europe
• Asia Pacific
• Rest of the world
Based on Geography, the Global Financial Cards and Payments Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific was the largest region in the cards and payments market that accounted for a major share in the global market. It was followed by Europe, North America, and then the other regions. The fastest-growing regions in the cards and payments market will be Asia Pacific and Africa due to the large population and the untapped market in some regions.

Key Players
The “Global Financial Cards and Payments Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are

Gemalto
• Giesecke & Devrient
• IDEMIA
• CPI Card
• Tianyu
• Goldpac
• Magicard
• CardLogix
• Watchdata Technologies
• Advanced Card Systems
• Kona I
• Sberbank
• Eastcompeace


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