Co-branded Credit Card Market by Vendor Type (Card Issuer, Card Network, Retailer), Credit Card Type (Physical Credit Cards, Virtual Credit Cards), End-User - Global Forecast 2024-2030

Co-branded Credit Card Market by Vendor Type (Card Issuer, Card Network, Retailer), Credit Card Type (Physical Credit Cards, Virtual Credit Cards), End-User - Global Forecast 2024-2030

The Co-branded Credit Card Market size was estimated at USD 13.41 billion in 2023 and expected to reach USD 14.63 billion in 2024, at a CAGR 9.74% to reach USD 25.72 billion by 2030.

Co-branded credit cards include a store card and a rewards card, which is backed by a major network or a card issuer. Consumers use these credit cards where they are accepted while accessing significant merchandise perks, discounts, points, or other rewards. Airlines, hotels, eCommerce, and fuel companies are collaborating with banks to introduce co-branded cards to their customers for ease of payment. The rising adoption of credit cards by the young and millennial generation and the customers’ interest in attaining significant discounts and potential cash-back present the main driving factor for the market. However, limitations associated with the operations and working of co-branded credit cards and high annual fees restrain the market growth. The industry is currently focused on launching improved co-branded credit cards and is entering partnerships with retail and airline companies to expand the development of the co-branded credit card market.

Regional Insights

In the Americas, particularly in the United States, the production and use of co-branded credit cards are highly developed, driven by a culture of credit reliance and robust rewards programs. Financial institutions and brands are collaborating to leverage extensive consumer data analytics to tailor offerings, making these cards popular across various sectors, including airlines, retail, and hospitality. The Asia-Pacific region exhibits varied adoption rates, with markets such as Australia and Japan witnessing significant uptake due to high consumer spending habits and an inclination for loyalty programs. Emerging markets within APAC are gradually embracing co-branded cards, facilitated by growing middle-class populations and digital banking advancements. In Europe, stringent regulatory frameworks for data protection and financial transactions, including the General Data Protection Regulation (GDPR), influence the structure and marketing of co-branded cards. Adoption in the Middle East is on the rise, driven by luxury travel and retail sectors, while Africa's focus remains on financial inclusion, with co-branded credit cards playing a minor role.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Co-branded Credit Card Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increasing adoption of co-branded credit cards by companies to provide innovative solutions to customers
    • Rapid expansion in the retailer and airline partnerships with financial institutions
    • Market Restraints
      • Issues associated with the strategic conflict between the financial institutions
      • Market Opportunities
        • Ongoing product launch and development of new co-branded credits cards
        • Emerging trend of digital co-branded credit cards
        • Market Challenges
          • Limitations associated with the use of co-branded credit cards
          • Market Segmentation Analysis
            • Vendor Type: Rising emphasis of the card issuer to offer tailored co-branded credit cards
            • Credit Card Type: Emerging preference for virtual co-branded credit cards among users
            • End-User: Extensive adoption of co-branded credit cards by travel and petroleum industries
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Co-branded Credit Card Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Co-branded Credit Card Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • SBI Cards and Payment Services Ltd Witnesses Share Uplift Following Launch of Titan Co-Branded Card
              
              SBI Cards and Payment Services Ltd announced its strategic partnership with Titan Company to launch the Titan SBI Card, a new co-branded card designed to enhance customer experiences by amalgamating the financial expertise of SBI Cards with the consumer-centric ethos of Titan Company. This alliance is poised to leverage the strengths of both entities, offering innovative financial solutions to their customer base and potentially stimulating further growth in their respective markets.
              
              RAKBANK and Air Arabia Enhance Partnership Through Co-Branded Credit Initiative for Strategic Renewal
              
              RAKBANK and Air Arabia have reaffirmed their collaboration by renewing their co-branded credit agreement, a ceremony held at Air Arabia’s headquarters. The deal aims to deliver a mutual commitment to providing enhanced travel experiences and tangible value to cardholders, illustrating the strong synergy between RAKBANK and Air Arabia in elevating customer service and reward mechanisms.
              
              Capital One Set to Acquire Discover in Landmark USD 35.3 Billion All-Stock Deal
              
              Capital One Financial Corporation and Discover Financial Services entered a definitive agreement, in which Capital One is expected to acquire Discover for an all-stock value of USD 35.3 billion. Upon the transaction's closure, Capital One and Discover shareholders are poised to hold approximately 60% and 40% stakes in the new entity, respectively. This strategic merger promises to enhance value for shareholders and customers alike by leveraging the combined strengths of both companies.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Co-branded Credit Card Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Co-branded Credit Card Market, highlighting leading vendors and their innovative profiles. These include American Express Company, AU Small Finance Bank Limited, Axis Bank Limited, Bank of America Corporation, Barclays PLC, BNP Paribas Group, Capital One Financial Corporation, Cardless, Inc., CIMB Group Holdings Berhad, Citigroup Inc., Commercial International Bank (Egypt) S.A.E., Concerto Card Company, CTBC Bank (Philippines) Corp., Despegar.com, Corp., First Abu Dhabi Bank, FPL Technologies Pvt. Ltd., HDFC Bank Limited, ICICI Bank Limited, IDBI Bank Ltd., JPMorgan Chase & Co., Marqeta, Inc., Mastercard International Incorporated, National Payments Corporation of India, Saigon Thuong Tin Commercial Joint Stock Bank, Scotiabank, Shinhan Bank Co., Ltd., Standard Chartered PLC, Synchrony Bank, The Bank of Baroda Ltd., The Goldman Sachs Group, Inc., U.S. Bancorp, Uniorbit Technologies Private Limited, Visa Inc., and Wells Fargo & Company.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Co-branded Credit Card Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Vendor Type
              • Card Issuer
              • Card Network
              • Retailer
              • Credit Card Type
                • Physical Credit Cards
                • Virtual Credit Cards
                • End-User
                  • Education
                  • Gaming
                  • Hospitality
                  • Petroleum
                  • Retail
                  • Travel
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • California
                        • Florida
                        • Georgia
                        • Illinois
                        • Kentucky
                        • Michigan
                        • Mississippi
                        • New Jersey
                        • New York
                        • Ohio
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year