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Global Travel Card Market Size, Share, Trends, Forecast: By Type: Prepaid Card, Credit Card; By Currency Type: One Currency Card, Multiple Currency Card; By Application: Transaction, Communication, Security And Access Control, Others; By Industry Vertical: Corporate/Organisation, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Travel Card Market Outlook
The global travel card market size is assessed to grow at a CAGR of 6.50% between 2023 and 2028. The market is being supported by the growing trend of international travel and the increasing awareness regarding the benefits of travel cards.
Key Trends in the Market
Travel card refers to a type of card that is specifically designed for travellers. It offers several travel-related benefits and perks like air mile earnings and complimentary access to lounges, hotels, and restaurants. It is universally accepted and provides a secure and convenient alternative to carrying foreign currency.
- Some of the key travel card market trends include growing cross-border travel and rising customer spending on travel. Tourists prefer travel cards that can offer travel-related benefits, provide enhanced safety and convenience, and eliminate transaction fees, among others.
- With rapid digital transformation in the tourism sector, virtual travel cards are increasingly used to centralise travel payments, optimise travel programmes, and gain travel data. Such cards are also simple to integrate, offer enhanced security, facilitate customers to customise payment dates, and provide enhanced control and payment.
- The travel card market growth can be attributed to the rising use of the product by corporates. Businesses increasingly use travel cards to simplify their expense management, prevent the risk of expense fraud or misuse, and offer attractive rewards to employees.
Market Analysis
Based on type, the market is segmented into prepaid card and credit card. On the basis of currency type, the market can be divided into one currency card and multiple currency card. The travel card market segmentation, based on application, includes transaction, communication, and security and access control, among others.
By industry vertical, the market is categorised into corporate/organisation, retail, and government, among others. The major regional markets for travel card include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global travel card market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- American Express Company
- Bank Of America Corporation
- Citigroup Inc.
- JPMorgan Chase & Co.
- Capital One Group
- HSBC Holdings plc
- Caxton Payments Limited
- Revolut Ltd.
- Monese Credit Limited
- Wise Payments Limited
- Others
Market Share by Type
As per the travel card market analysis, travel credit cards are witnessing substantial popularity as they provide various benefits such as lounge access and welcome packages to meet the requirements of frequent travellers. They also offer loyalty points and provide complimentary travel insurance. With the increasing international travel, the demand for travel credit cards in the coming years is likely to surge as they do not require transaction fees and eliminate the hassle of carrying cash.
Market Share by Region
North America accounts for a significant travel card market share due to the presence of leading providers like Citigroup and Bank of America Corporation in the region. There is a growing awareness regarding the benefits and additional perks provided by travel cards, especially among the young population. Providers in countries like Canada and the United States also extensively partner with various airlines, hotels, and restaurants to provide various travel benefits and premium rewards to cardholders.
Meanwhile, the Asia Pacific is anticipated to experience significant growth in the coming years amid rising disposable incomes and the growing tourism sector.
Competitive Landscape
American Express Company, established in 1850, is a prominent travel and financial service provider. It is headquartered in New York, the United States, and its products are used by small businesses, large corporations, and mid-sized corporations.
Citigroup Inc. is a leading banking partner and one of the largest wealth management companies, headquartered in the United States. With a presence in more than 160 countries, the company’s products are used by investors, individuals, corporations, and governments, among others.
Capital One Group is a major strategic marketing communication consultation agency that offers high-quality, customisable, and affordable communication services. Some other services offered by the company include social media marketing, creative design, public relations, and integrated marketing communication, among others.
Other travel card market players include Bank Of America Corporation, JPMorgan Chase & Co., HSBC Holdings plc, Caxton Payments Limited, Revolut Ltd., Monese Credit Limited, and Wise Payments Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Currency Type |
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| Breakup by Application |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Travel Card Market Analysis
8.1 Key Industry Highlights
8.2 Global Travel Card Historical Market (2018-2022)
8.3 Global Travel Card Market Forecast (2023-2028)
8.4 Global Travel Card Market by Type
8.4.1 Prepaid Card
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Credit Card
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Travel Card Market by Currency Type
8.5.1 One Currency Card
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Multiple Currency Card
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Travel Card Market by Application
8.6.1 Transaction
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Communication
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Security And Access Control
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Travel Card Market by Industry Vertical
8.7.1 Corporate/Organisation
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Retail
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Government
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Others
8.8 Global Travel Card Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Travel Card Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Travel Card Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Netherlands
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Switzerland
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Others
11 Asia Pacific Travel Card Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 New Zealand
11.6.1 Historical Trend (2018-2022)
11.6.2 Forecast Trend (2023-2028)
11.7 Others
12 Latin America Travel Card Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Travel Card Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 South Africa
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 Qatar
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Bahrain
13.5.1 Historical Trend (2018-2022)
13.5.2 Forecast Trend (2023-2028)
13.6 Oman
13.6.1 Historical Trend (2018-2022)
13.6.2 Forecast Trend (2023-2028)
13.7 Turkey
13.7.1 Historical Trend (2018-2022)
13.7.2 Forecast Trend (2023-2028)
13.8 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 American Express Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Bank Of America Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Citigroup Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 JPMorgan Chase & Co.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Capital One Group
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 HSBC Holdings plc
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Caxton Payments Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Revolut Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Monese Credit Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Wise Payments Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Travel Card Market: Key Industry Highlights, 2018 and 2028
2. Global Travel Card Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Travel Card Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Travel Card Historical Market: Breakup by Currency Type (USD Million), 2018-2022
5. Global Travel Card Market Forecast: Breakup by Currency Type (USD Million), 2023-2028
6. Global Travel Card Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Travel Card Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Travel Card Historical Market: Breakup by Industry Vertical (USD Million), 2018-2022
9. Global Travel Card Market Forecast: Breakup by Industry Vertical (USD Million), 2023-2028
10. Global Travel Card Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Travel Card Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Travel Card Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Travel Card Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Travel Card Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Travel Card Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Travel Card Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Travel Card Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Travel Card Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Travel Card Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Travel Card Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Travel Card Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Travel Card Market Structure
Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 6.50% between 2023 and 2028.
The market is being driven by the increasing international travel and the rising awareness regarding the benefits of travel cards.
The key trends aiding the market growth are the increasing partnerships between travel card providers and airlines, the rising usage of virtual travel cards, and the increasing adoption of travel cards by corporates.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of travel card in the market are prepaid card and credit card.
The significant applications of the product are transaction, communication, and security and access control, among others.
The various industry verticals considered in the market report are government, corporate/organisation, and retail, among others.
The major players in the market are American Express Company, Bank Of America Corporation, Citigroup Inc., JPMorgan Chase & Co., Capital One Group, HSBC Holdings plc, Caxton Payments Limited, Revolut Ltd., Monese Credit Limited, and Wise Payments Limited, among others.
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