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North America Commercial Credit Cards: Market Review and Forecast, 2018-2024.
Mercator Advisory Group releases new research about commercial credit card trends in North America.
Published on: August 12, 2020 Author: Steve Murphy Alternate Point of Contact: Amy Dunckelmann
The commercial credit card market for mid-to large corporates in North America has been in a generally strong growth mode for the past several years. In North America, the most mature commercial credit card market, recent growth has been primarily boosted by non-travel spend as the industry continues its transition to B2B payables relevancy. As a result, the extended suspension of business travel, although a damaging blow to issuer bottom lines into 2021, will be somewhat offset by subsequent gains in business-to-business payments as companies accelerate digital adoption. The utilization of purchasing cards (P cards) and non-travel virtual cards is more directly tied to broader economic activity, the growing use of electronic payments methods, and replacement of checks and cash in the payables process.
Mercator Advisory Group’s latest research report, Commercial Credit Cards: North America Market Review and Forecast, 2018-2024, provides a detailed review of the commercial credit card markets in Canada and the United States, including an analysis of how the pandemic impacts spend during 2020-21, as well as recovery expectations through 2024.
“The pre-pandemic growth trajectory was quite good overall in North America, as 2019 virtual card spend exceeded corporate travel card spend for the first time,” commented Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service, author of the report, “so the comeback in spend longer term is going to be more associated with utilization of card rails in payables as the recessionary curve unfolds.”
This report is 17 pages long and has 7 exhibits.
Companies and other organizations mentioned in this report include: American Express, Citi, Coupa, Cvent, Diners Club, Interac, International Monetary Fund (IMF), Mastercard, PNC Bank, R3, SAP Concur, The Conference Board, Visa, World Health Organization.
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Highlights of the report include:
Commercial & Enterprise Payments
Debit & Alternative Products
North American PaymentsInsights
Small Business PaymentsInsights
Fraud Experience PaymentsInsights
News & Events
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