The global credit card payment market size was US$ 148,371.0 million in 2021. The global credit card payment market is forecast to grow to US$ 284,961.2 million by 2030 by growing at a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.

COVID-19 Impact Analysis
The global credit card payment market has experienced huge growth potential after the wake of the COVID-19 pandemic. The pandemic upsurged the demand for contact-less deliveries, which surged the demand for online payments. As a result, the demand for credit cards increased. Furthermore, lockdown by governments increased payment delays. Thus, credit card payment emerged as a significant choice to combat these challenges. Moreover, vendors also implemented new strategies as online e-commerce platforms stopped allowing cash-on-delivery. Thus, all of these factors have contributed to the growth of the credit card payment market during the COVID-19 pandemic. Additionally, the pandemic is expected to have a long impact on the credit card payment market as online payment is becoming a basic necessity.

Factors Influencing the Market
Growing demand for safe methods and cash alternatives is primarily driving the growth of the credit card payment market. In addition, the convenience of credit cards as users do not need to keep heavy wallets and bags is forecast to boost the growth of the credit card payment market.
The growing range of technological advancements will also contribute to the growth of the credit card payment market. In addition, the risk of theft associated with cash is expected to surge the adoption of credit cards during the study period.
The rising demand for contactless delivery to avoid infection risks will also benefit the credit card payment market during the study period. Furthermore, digital-first credit cards are gaining wide traction, which will escalate the credit card payment market growth during the forecast period.
On the contrary, growing cases of credit card fraud may limit the growth of the market during the forecast period.

Regional Analysis
Europe is forecast to emerge as the largest market for credit card payment due to the growing preference for cashless methods. In addition, growing technological advancements in the financial sector will escalate the growth of the global credit card payment market during the study period. The credit card payment market may also witness substantial growth due to changing consumer expectations in terms of flexibility, personalization, etc.

Competitors in the Market
American Express
Barclays PLC
Capital One
JPMorgan Chase & Co
Citigroup Inc.
Bank of America Corporation
MasterCard
Synchrony
The PNC Financial Services Group, Inc.,
USAA.
Other Prominent Players

Market Segmentation
The global credit card payment market segmentation focuses on Card, Application, and Region.
By Card Type Outlook
General Purpose Credit cards
Specialty & Other Credit Cards
By Application Outlook
Food & Groceries
Health & Pharmacy
Restaurants & Bars
Consumer Electronics
Media & Entertainment
Travel & Tourism
Others
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America