Industry Analysis & Industry Trends
The Credit Card Issuance industry has suffered over the past five years, as the debt binge of the early and mid-2000s turned into something of a debt purge with the arrival of the credit crunch and recession. Industry revenue is forecast to decline by 1.2% in 2012-13 to hit £8.32 billion, as the ongoing European debt crisis and dire economy weigh on sentiment and widespread deleveraging continues. This will be down from £10.4 billion five years ago, representing a decline of 4.3% per annum.
Since peaking in mid-2007, credit card issuance has been in steady decline as the global financial crisis and ensuing economic recession led consumers to cut back on debt and increase savings... purchase to read more
Industry Report - Industry Products Chapter
Institutions that provide the finance behind the purchases that are made by credit card holders issue credit cards. Payment solution organisations, such as Visa, MasterCard and American Express, provide the actual payment systems and infrastructure that is used to process transactions made. Essentially, the Credit Card Issuance industry offers a single product – credit cards. However, the features of credit cards vary significantly and cater for different needs of various consumer groups. For this reason, the industry's products are segmented according to the types of credit cards offered.
As an incentive for customers to use credit cards in preference to other payment methods (such as cash), credit card issuers offer rewards... purchase to read more