The world continues to move in the direction of electronic payments, and this movement represents ongoing opportunity for card schemes across the globe. Companies operating in both developed and developing economies seek more efficiencies and value from business-to-business (B2B) invoiced payments, which card schemes can provide through credit facilities, potential revenue share, and “risk-minimized” virtual card accounts. The major regional commercial credit card markets outside North America continue to grow, although the pace varies depending on location and product.
In a new research report, International Commercial Card Markets Outlook: 2016-2021, Mercator Advisory Group examines the commercial card markets in the Western Europe, Asia-Pacific, and Latin America and Caribbean (LAC) regions with respect to specific market trends, key concerns, and spending volume growth through 2021.
“In these markets spending growth has historically been underpinned by corporate cards (mostly travel and entertainment, T&E), which in turn partially relates to economic growth and business budgets,” commented Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service, author of the report. “However, the B2B market now has the fastest growth rates through virtual card numbers, also known as single-use accounts. Headwinds remain in the form of regulations as well as longer-term potential threats from new payment schemes, but the general outlook for commercial cards is strong through the next four years.”
The document is 21 pages long and contains 8 exhibits.
Companies mentioned in this report include: American Express, Apptivo, Certify, China UnionPay, Concur, Conferma, Diners Club, Early Warning Services, E-Global, Fraedom, HSBC, Invapay, iPara, JCB, Mastercard, Optal, PROSA, Visa, Zazoo, and Zoho.