May 16 - Research and Markets has announced the addition of the "Commercial Payment Cards: The U.S. and Global Markets and Trends, 8th Edition" report to its offering.
While U.S. consumer credit card spending may still be pressured, commercial card purchase volume is moving full steam ahead. According to Commercial Payment Cards: The U.S. and Global Markets and Trends, 8th Edition commercial card purchase volume grew by 13% in 2013, reaching $888 billion. But commercial cards are catching on in both the U.S. and abroad: it is forecast that global commercial card purchase volume to grow by 13% in 2014 and in 2015, rising from $1.4 trillion to $1.79 trillion, with both small businesses and larger corporations fueling growth.
The global landscape is quickly shifting, due in part to the quick ascension of UnionPay, which now generates more commercial card purchase volume than JCB, BC Card and Discover/Diner's Club - and surpassed Visa in 2013 as the largest network by credit and debit purchase volume. With globalization occurring at a rapid pace, payments networks and financial institutions - keen to meet the needs of multinational corporations and to penetrate new markets - are growing alongside the world's large corporations.
And U.S. commercial banks have worked hard to close the commercial payments gap with competitors such as American Express. Long the Apple of corporate payments, American Express can offer cards, service, solutions, and a network all under one roof. But U.S. commercial banks may be taking competition up a notch.
In particular, the report:
Key Topics Covered:
Chapter 1: Executive Summary
Chapter 2: Introduction and Overview
Chapter 3: Market Size and Forecast
Chapter 4: Commercial Card Growth Drivers & Trends
Chapter 5: Commercial Card Network Operators
Chapter 6: Commercial Card Bank Issuers & Processors
Chapter 7: Commercial Card Non-Bank Issuers
Chapter 8: Commercial Cards and Government
For more information visit www.researchandmarkets.com/research/tffj66/commercial.