Home › IoT News › Juniper Research reports payment cards issued via digital platforms to exceed 1.3bn in 2027
Hampshire, UK. 3 April 2023 – A new study from Juniper Research, a provider of payments market has found that the number of payment cards issued via digital platforms will reach 1.3 billion annually by 2027, from just 500 million in 2023.
This growth of 170% reflects strong interest in improving the way users access and replace cards from issuers. This is in the context of strong competition between issuers from digital-only banks and new fintechs offering card services.
Modern card issuing platforms, also known as digital card issuing platforms, allow card issuers to create cards using an API (Application Programming Interface)-driven approach; enabling cards to be delivered instantly to digital wallets, with the option for a physical card, boosting flexibility, transparency and speed significantly.
Top modern card issuing platform vendors ranked
As part of the study, Juniper Research released its competitor leaderboard for 2023. Underpinned by a scoring methodology, the new competitor leaderboard ranked the top 16 leading modern card issuing platforms, using criteria such as the completeness of their solutions and their future business prospects.
The top 5 vendors for 2023:
- Thales
- G+D
- FIS
- Fiserv
- Marqeta
The research found that the players scored well based on their breadth of customisation options and the large number of customers and capabilities, such as personalisation and tracking available. To stay ahead of the competition, modern card issuing platform vendors must develop solutions that are easy to adopt and deploy; ensuring that these features can integrate with existing bank IT systems and bypass them where necessary.
Report co-author Nick Maynard explains, “For issuers, staying relevant in an increasingly tech‑enabled banking market is challenging. Improving the flexibility, transparency and personalisation of the card issuing process is an important way issuers can increase the user experience. As such, issuers should look to design superior user experiences, leveraging the capabilities that digital card issuing platforms can provide.”
Find out more about the new report: Modern Card Issuing Platforms: Key Opportunities, Segment Analysis & Market Forecasts 2023-2027, or download a free sample
Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow
FEATURED IoT STORIES
Posted on: April 5, 2023
Posted on: February 17, 2023
Posted on: September 28, 2022
Posted on: September 1, 2021
Posted on: August 30, 2021
Posted on: June 21, 2021
Posted on: June 10, 2020
Posted on: June 3, 2020
Post Disclaimer
The information provided in our posts or blogs are for educational and informative purposes only. We do not guarantee the accuracy, completeness or suitability of the information. We do not provide financial or investment advice. Readers should always seek professional advice before making any financial or investment decisions based on the information provided in our content. We will not be held responsible for any losses, damages or consequences that may arise from relying on the information provided in our content.
