The number of credit cards issued via digital card issuance platforms worldwide will rise from 120m in 2023 to more than 320m by 2027, according to a Juniper Research forecast.
It also predicts that credit cards will account for more than US$9.7tn in global spend by 2027 and that the total monetary value of credit card loyalty rewards globally will increase to US$103bn over the same period.
The use of new advanced digital capabilities such as loyalty programmes and instant card issuance as well as rising affluence in emerging markets will be among the key drivers of credit card adoption, the forecasters say.
Number of credit cards issued via digital platforms to top 320m globally by 2027 was written by Tom Phillips and published by NFCW.