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The card economy in FinTech
FinTech companies today are introducing something new — yet familiar. They are inspiring product teams to reinvent a core financial product that has served as the backbone of payments, banking, and financial transactions: the credit card.
The Growth of the Global Credit Card Market
Credit cards are becoming more popular today. Companies are finding ways to get more cards in the hands of consumers. They are designing new experiences that are both seamless and end-to-end, along with supporting software, to assist businesses & consumers.
Why this is important and how they are being designed the way they are today are critical to understand. The underlying payments infrastructure of our global economy is being redesigned and transformed.
Let’s start with understanding why the credit card market is important. First, it’s a large and growing market:
“The global credit card payments market revenue was valued at $138.43 billion in 2020, and is projected to reach $263.47 billion by 2028, growing at a CAGR of 8.5% from…
