The financial crisis of 2008 that led to the economic meltdown in 2009 posed both a hurdle and an opportunity for the commercial payment card market.
Online PR News – 05-December-2009 – – The commercial payment card market has undergone a transformation in recent years as the associations and issuers strive to convince companies of the various benefits. Once a fairly simple market comprising travel and entertainment cards and fuel cards, the commercial payment card universe has become more complex with increased segmentation and functionality. But the lines between products have also blurred resulting in card products that combine several cards into one. Purchasing cards have emerged as the champion of commercial payments with the expectation of eventually replacing a substantial portion of paper-based procurement. The fact that commercial cards capture a mere fraction of total commercial payments highlights the potential of the opportunity at hand.
The financial crisis of 2008 that led to the economic meltdown in 2009 posed both a hurdle and an opportunity for the commercial payment card market. On the one hand, products such as small business cards suffered massive declines in purchase volume and skyrocketing charge-off rates. On the other hand, the consolidation of several major issuers and the weeding out of weaker players, combined with a new drive toward corporate cost control and efficiency, may have set the stage for a quick recovery in 2010.
This Packaged Facts report, which has been renamed from corporate credit cards, presents data and analysis on the global and U.S. market for commercial payment cards. The report presents the size and growth of the market by examining key metrics for the 2005-2009 period and providing forecasts through 2014. Included are discussions and analysis of the various commercial payment card types, trends and factors affecting their growth, and a focused analysis of commercial card end user demographics and preferences. In addition, major card brands and issuers are profiled to provide a competitive landscape.
Packaged Facts’ study of commercial payment cards is based on extensive secondary research and interviews with industry and regional experts. Secondary sources include data-gathered from relevant trade, business, and government sources, including card industry journals, trade and general press (print and electronic), annual reports and 10(k) filings, company literature, consultancy publications, Packaged Facts reports, websites and white papers.
Packaged Facts’ analysis of consumer behavior and demographics derives from the spring 2009 Experian Simmons Market Research Bureau’s (New York, NY) adult consumer surveys, which are based on approximately 25,000 respondents age 18 or over.
What You’ll Get in this Report
Commercial Payment Cards makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Commercial Payment Cards offers.
Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
How You Will Benefit from this Report
If your company is already doing business in the commercial payment card market, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for commercial payment cards, as well as projected markets and trends through 2014.
This report will help:
* Marketing Managers identify market opportunities and develop targeted promotion plans for commercial payment cards.
* Research and development professionals stay on top of competitor initiatives and explore demand for commercial payment cards.
* Advertising agencies working with clients in the banking and retail industries understand the product buyer to develop messages and images that compel businesses to use commercial payment cards.
* Business development executives understand the dynamics of the market and identify possible partnerships.
* Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.
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