Europe Credit Cards Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Europe Credit Cards Market is Segmented by Card Type ( General Purpose Credit Cards and Specialty & Other Credit Cards), by Application (Food & Groceries, Health & Pharmacy, Restaurants & Bars, Consumer Electronics, Media & Entertainment, Travel & Tourism, and Other Applications), by Provider (Visa, Mastercard, and Other Providers), by Country ( UK, Germany, France, Italy, Spain, and Rest of Europe). The Report Offers Market Size and Forecasts for the Europe Credit Cards Market in Value (USD) for all the Above Segments.

Europe Credit Cards Market Size

Europe Credit Cards Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.47 Trillion
Market Size (2029) USD 2.84 Trillion
CAGR (2024 - 2029) 2.83 %
Market Concentration Low

Major Players

Europe Credit Cards Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Europe Credit Cards Market Analysis

The Europe Credit Cards Market size in terms of transaction value is expected to grow from USD 2.47 trillion in 2024 to USD 2.84 trillion by 2029, at a CAGR of 2.83% during the forecast period (2024-2029).

Credit cards are Europe's fastest-growing form of non-cash payment, with the number and volume of transactions. The European card market retains huge growth potential despite the current global economic crisis and demanding conditions in the financial services industry.

European card issuers must constantly adapt measures to maintain customer relationships and trust as new competition emerges. Partnerships with digital players and established brands could help issuers gain an edge in key areas, including user experience and customer engagement.

Most people see payment cards as a quick and easy way of making retail payments. They are the most widely used and fastest-growing electronic payment instrument in Europe. In Europe, the payment card is the most commonly used payment instrument in terms of volume. The utilization of payment cards has expanded, leading to a decline in the use of checks, a trend seen in countries like the Netherlands, where checks were entirely phased out upon the introduction of the Euro.

Europe Credit Cards Market Trends

Increasing Card Transactions in Europe have a Major Impact on Credit Card

Most people see payment cards as a quick and easy way of making retail payments. They are the most widely used and fastest-growing electronic payment instrument in Europe. In Europe, the payment card is the most commonly used payment instrument in terms of volume. The usage of payment cards had grown at the expense of the check, which some countries like the Netherlands suppressed altogether when the Euro was introduced. The average amount of a card payment varies from one country to the other. The discrepancies observed are due to differences in consumer habits and living standards. The total value of transactions increased year-on-year throughout this period.

Europe Credit Cards Market: Value of Card Payments in Europe, Million USD,  2017 to 2021

Iceland has highest Credit Card Penetration rate in Europe

The share of the adult population in European countries varied from eight percent in Albania to as high as 71 percent in Norway. Using a credit card allows the cardholder to pay for goods and services with the agreed promise to the card issuer that they will repay the amount borrowed either in installments or as a single payment. In Europe, there are two leading credit card providers. In recent years, Iceland's tourism sector has witnessed remarkable expansion, luring in global tourists. Credit cards have become ubiquitous in Iceland's tourism ecosystem, spanning hotels, eateries, tour operators, and other tourist-centric establishments. This trend has not only elevated credit card usage among tourists but also among the local populace. Iceland boasts a robust banking framework, with leading banks proffering an array of credit card options and services. The combination of easy credit card accessibility, attractive terms, and enticing rewards programs further incentivizes individuals to rely on credit cards for their day-to-day transactions.

Europe Credit Cards Market: Credit card penetration in Top 10 Countries in Europe, Percentage, 2022

Europe Credit Cards Industry Overview

The Europe Credit Cards Market is highly competitive and fragmented as various international and regional vendors provide new technology to various end-use industries to expand the market. The key players are emerging to improve their products and delivery through low-interest rates and enhance their products to have a competitive edge over others. Furthermore, the companies are involved in acquisitions and expansion to improve their product offerings and increase the number of transactions. Hence, this section includes the company profiles of the key players and industry analysis. The Credit Card industry across Europe is offered by groups such as Capital One, Citi Bank, Chase, Bank of America, and Advanzia Bank.

Europe Credit Cards Market Leaders

  1. Capital One

  2. Citi Bank

  3. Chase

  4. Bank of America

  5. Advanzia Bank

*Disclaimer: Major Players sorted in no particular order

Europe Credit Cards Market Concentration
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Europe Credit Cards Market News

  • February 2023: ASOS, the global online fashion destination, and Capital One UK announced a new and exclusive credit card partnership. The partnership will likely launch a new ASOS credit card for eligible shoppers, available later this year. It is projected to provide a range of features and benefits that only come with using a credit card when they shop at ASOS and elsewhere, such as Section 75 protection on purchases over EUR 100.
  • November 2022: Germany's leading international provider of ticketing services and live entertainment CTS EVENTIM presented its own branded credit card issued by Advanzia Bank. The Eventimcard offered an integrated loyalty program that gives cardholders VIP entry to venues owned or operated by CTS EVENTIM, free ticket delivery, and all the benefits included in the Mastercard Gold.

Europe Credit Cards Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Usage of Credit Card give the bonus and reward points

    3. 4.3 Market Restraints

      1. 4.3.1 Interest rates on Credit Card

    4. 4.4 Insights on Various Regulatory Trends Shaping the Market

    5. 4.5 Insights on impact of technology in the Market

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Bargaining Power of Buyers

      2. 4.6.2 Bargaining Power of Suppliers

      3. 4.6.3 Threat of New Entrants

      4. 4.6.4 Threat of Substitutes

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Impact of High Inflation on Credit Card Market

    8. 4.8 Impact of COVID-19 on the Market


    1. 5.1 By Card Type

      1. 5.1.1 General Purpose Credit Cards

      2. 5.1.2 Specialty & Other Credit Cards

    2. 5.2 By Application

      1. 5.2.1 Food & Groceries

      2. 5.2.2 Health & Pharmacy

      3. 5.2.3 Restaurants & Bars

      4. 5.2.4 Consumer Electronics

      5. 5.2.5 Media & Entertainment

      6. 5.2.6 Travel & Tourism

      7. 5.2.7 Other Applications

    3. 5.3 By Provider

      1. 5.3.1 Visa

      2. 5.3.2 MasterCard

      3. 5.3.3 Other Providers

    4. 5.4 By Country

      1. 5.4.1 UK

      2. 5.4.2 Germany

      3. 5.4.3 France

      4. 5.4.4 Italy

      5. 5.4.5 Spain

      6. 5.4.6 Rest of Europe


    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Capital One

      2. 6.2.2 Citi Bank

      3. 6.2.3 Chase

      4. 6.2.4 Bank of America

      5. 6.2.5 Advanzia Bank

      6. 6.2.6 AirPlus International

      7. 6.2.7 Card complete Group

      8. 6.2.8 Cornèr Bank

      9. 6.2.9 International Card Services BV

      10. 6.2.10 RegioBank*

    3. *List Not Exhaustive


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Europe Credit Cards Industry Segmentation

A credit card is a credit facility provided by banks that allow customers to borrow funds within a pre-approved credit limit. It enables customers to make purchase transactions on goods and services. The credit card issuer determines the credit card limit based on factors such as income and credit score, which also decides the credit limit. A complete background analysis of the europe credit cards market, which includes an assessment of the economy, market overview, market size estimation for key segments, emerging trends in the market, market dynamics, and key company profiles, is covered in the report. 

The europe credit cards market is segmented by card type, application, provider, and country. By card type, the market is sub-segmented into general purpose credit cards and specialty & other credit cards. By application, the market is sub-segmented into food & groceries, health & pharmacy, restaurants & bars, consumer electronics, media & entertainment, travel & tourism, and other applications. By provider, the market is sub-segmented into visa, mastercard, and other providers. By country, the market is sub-segmented into UK, Germany, France, Italy, Spain, and rest of Europe. The report offers market size and forecasts for the Europe credit cards market in value (USD) for all the above segments.  

By Card Type
General Purpose Credit Cards
Specialty & Other Credit Cards
By Application
Food & Groceries
Health & Pharmacy
Restaurants & Bars
Consumer Electronics
Media & Entertainment
Travel & Tourism
Other Applications
By Provider
Other Providers
By Country
Rest of Europe
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Europe Credit Cards Market Research Faqs

The Europe Credit Cards Market size is expected to reach USD 2.47 trillion in 2024 and grow at a CAGR of 2.83% to reach USD 2.84 trillion by 2029.

In 2024, the Europe Credit Cards Market size is expected to reach USD 2.47 trillion.

Capital One, Citi Bank, Chase, Bank of America and Advanzia Bank are the major companies operating in the Europe Credit Cards Market.

In 2023, the Europe Credit Cards Market size was estimated at USD 2.40 trillion. The report covers the Europe Credit Cards Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Credit Cards Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Europe Credit Cards Industry Report

Statistics for the 2024 Europe Credit Cards market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Credit Cards analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Europe Credit Cards Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)