Published Date : May 02, 2016
ALBANY, New York, May 02, 2016 - MarketResearchReports.biz has announced the addition of the “Global Private Label Card Market: Trends & Opportunities (2016-2020)” report to its database. The detailed report contains data about the current state of the global private label card market. It studies the opportunities and the potential challenges faced by the private label card market. The report helps readers discover trends in the global private label card market and identify the strategic consolidations shaping it.
The report carries out a thorough reports of the global private label cards market by value, installed base, and segments. An overview of the types of payment cards, types of credit cards, and private label credit cards has been presented in a comprehensive manner. Advantages and disadvantages of private label cards that influence consumers have been discussed in the report.
Private label cards are credit cards or store cards that are branded for a specific retailer or a manufacturer. Similar to credit cards and debit cards that enable electronic funds transfer, private label credit cards or store cards are issued by third party processors who collect payments from card holders. Terms and conditions for private label cards are decided by a contract between the third party processor and the retailer. The growing trend of retailers providing customers with their own cards for shopping at their outlets is boosting the global private label card market. Private label cards attract customers and give them yet another reason to shop at a particular store, thus increasing brand loyalty.
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The global private label card market is benefitted by the rising urbanization across the world. The rising urban and semi-urban population is also one of the drivers of the market. Increasing rewards and incentive programs are driving a large number of people to adopt private label cards. The growing trend of mobile payments and an overall increase in the sales of retail shops has led to the expansion of the private label card market.
Private label cards have a lower credit limit than regular payment cards. This is one of the major challenges faced by the global private label card market. Moreover, global private label cards have a high interest rate, which may act as a restraint for the adoption of these cards, thus challenging the market. Since private cards have high interest and a low credit limit, customers have the fear of harming their credit score, and thus hesitate from using private label cards. These are some of the challenges that the global private label card market faces.
The report includes the study of key players in the global private label card market. The business overview, financial overview, and business strategies of each of the companies have been included. Some of the companies profiled in the report are: JP Morgan Chase & CO., Alliance Data Systems, Wells Fargo & Co., and Capital One Financial Corp.
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