CREDIT, DEBIT, AND PREPAID CARDS PURCHASE VOLUME WORLDWIDE

The concept of online shopping has increased by many folds in the recent years, and it is an integral part of the global economy. Purchase volume worldwide is expected to grow significantly during next 7 years. Credit, debit, and prepaid cards issued in Europe generated $2.765 trillion in purchase volume in 2016. Visa held a 66% market share followed by Mastercard with 31%, Amex with 3%, and Diners Club with less than 1%.

Thus, purchase volume in Europe is expected to grow from $3 tril. in 2017 to $7 tril. in 2025. Many people, though, still cannot shop online due to restrictions placed on them based on their location. Virtual debit cards and virtual credit cards can solve this problems on a worldwide level.

Virtual debit and credit cards are becoming a necessity in the online marketplace. The rapid expansion of the IoT (Internet of Things) offers payments companies an opportunity to expand beyond mobile phones, cards and point-of-sale devices, to a broad ecosystem of internet-connected devices. The use of payment-enabled wearable devices is expected to rise.

Credit, Debit, and Prepaid cards Purchase Volume Worldwide 2017 vs 2025 ($Tril.)

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Preparation date of the market review – January 2018