U.S. Market for Corporate Credit Cards and Purchasing Cards - 4th Edition

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Published Nov 22, 2004 | 180 Pages | Pub ID: LA972915

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Abstract:
Despite a national recession and tough economic times for most industries worldwide, the market for corporate credit cards has maintained strong growth, thanks largely to a global shift towards all-electronic payments and an increase in mandatory corporate card use among companies of all sizes. New products and behind-the-scenes technologies have also helped to grow the market, which has become more and more important to card associations and issuers in light of the increasingly saturated consumer credit market. Corporate credit cards and purchasing cards have proved to be an essential component of the global economy, and this market holds even greater promise through the end of the decade and beyond. This new Packaged Facts report, The U.S. Market for Corporate Credit Cards and Purchasing Cards, focuses on the $500 billion corporate credit card industry, covering corporate (travel and entertainment) cards, purchasing cards, and fleet cards, as well as new products such as payroll cards, prepaid corporate cards, and corporate debit cards.

What You’ll Get in this Report
The U.S. Market for Corporate Credit Cards and Purchasing Cards examines the latest trends in the industry, including significant mergers, new products and services, and key factors affecting market growth—such as a new focus on small and mid-sized businesses; widespread use of rebates and rewards for corporate card use; new incentives to use purchasing cards for large transactions; and ongoing improvements in online card management and reporting solutions. It also includes information on corporate card marketing and advertising, demographic data on commercial credit card holders, and detailed company profiles of the leading bankcard associations and card issuers, including Bank of America, Citibank, U.S. Bank, and GE Capital Financial.

Report Methodology
The information in The U.S. Market for Corporate Credit Cards and Purchasing Cards is based on both primary and secondary research. Primary research involved interviews with marketing, public relations and analysts within the financial industry and consultants to the industry. Secondary research entailed data-gathering from relevant trade, business, and government sources, including company literature, data from CardSource and corporate filings

Chapter 1: Executive Summary
Scope and Methodology
  • Scope of Report

The Products

  • Cards Used for Business Purposes
  • Benefits and Drawbacks by Card Type
  • Purchasing Cards
  • Corporate Cards
  • Business Cards
  • New Commercial Payment Options Reshape Market

The Market

  • Market to Approach $1.5 Trillion in 2009
  • Corporate Card Volume Climbs, But Market Share Dips
  • Figure 1-1: Share of U.S. Commercial Card Market by Category, 2000 vs. 2004 (percent)
  • Over 48 Million Cards in Circulation
  • Commercial Card Market Drivers Different from Those for Consumer Cards
  • More Companies Mandate Commercial Card Use
  • T&E Market Nearing Saturation

The Marketers

  • Visa Takes the Lead
  • Leaders in Commercial Bankcards
  • Competitive Overview
  • Visa and MasterCard Face New Amex Challenge
  • Competition Shifts from Fortune 500 to Small Business
  • Mergers and Alliances Continue to Reshape Competitive Landscape

The Corporate Card Consumer

  • 13 Million Business Card Users
  • Table 1-1: Usage Rates for Selected Credit Card Classifications: Have or Use, Used in Last Year, and Used in Last Month, 2004 (U.S. adults)
  • Diners Club Breaks Gender and Racial Pattern
  • Northeast Is American Express Stronghold
  • Skews by Educational Attainment and Individual Income

Looking Ahead

  • Trends and Opportunities

Chapter 2: The Products
Product Definitions

  • Cards Used for Business Purposes
  • Three Major Categories
  • Purchasing Cards
  • Corporate Cards
  • Business Cards
  • Cards Carry Distinct Benefits, Drawbacks
  • Purchasing Cards
  • Corporate Cards
  • Business Cards
  • New Commercial Payment Options Reshape Market

Commercial Cards: Behind the Scenes

  • Card Associations Wield Power
  • Issuing Banks, Acquirers, and Payment Processors
  • Data Capture and Reporting
  • Leading Payment Processors and Merchant Acquirers

Lawsuits and the Regulatory Environment

  • Effects of Visa/MasterCard Antitrust Suits
  • Interchange Battles and Corporate Cards
  • Card Associations and Currency Conversion Deception
  • Effects of the Sarbanes-Oxley Act
  • Electronic Fraud and Security
  • Fighting Phishing

Chapter 3: The Market
Market Size and Growth

  • Transaction Volume Hits $495 Billion in 2004
  • Table 3-1: U.S. Market for Commercial Credit Cards by Category, 2000-2004 (in billions of dollars)
  • Figure 3-1: U.S. Market for Commercial Credit Cards, 2000-2004 (in billions of dollars)
  • Corporate Cards Overtaken by Purchasing Cards
  • Corporate Card Volume Climbs, But Market Share Dips
  • Figure 3-2: Share of U.S. Commercial Card Market by Category, 2000 vs. 2004 (percent)
  • Over 48 Million Cards in Circulation
  • Table 3-2: Estimated Number of Commercial Cards in Circulation by Type, 2004 (in millions)
  • Purchasing Card Benchmark Survey

Factors to Market Growth

  • Commercial Card Market Drivers Different from Those for Consumer Cards
  • More Companies Mandate Commercial Card Use
  • T&E Market Nearing Saturation
  • Meeting Management on the Rise
  • Push for Small Businesses Pays Off
  • Electronic Payments Become the Norm
  • Weaning B2B Away from Checks and Cash
  • Comfort with P-Card Spurs More and Larger Transactions
  • Technology Drives New Growth
  • Sarbanes-Oxley Drives New Commercial Card Use
  • Merchant Acceptance and Data Reporting Much Improved
  • SmartPay Maintains Growth on All Fronts

Projected Market Growth

  • Market to Approach $1.5 Trillion in 2009
  • Table 3-3: Projected U.S. Market for Commercial Credit Cards by Category, 2004-2009 (in billions of dollars)
  • Figure 3-3: Projected U.S. Market for Commercial Credit Cards, 2004-2009 (in billions of dollars)

Chapter 4: The Marketers
Marketer and Brand Shares

  • Visa Takes the Lead
  • Table 4-1a: Leading Commercial Card Issuers: Estimated Number of Cards, Charge Volume, and Market Share, 2001 (number and dollars)
  • Table 4-1b: Leading Commercial Card Issuers: Estimated Number of Cards, Charge Volume, and Market Share, 2004 (number and dollars)
  • Leaders in Commercial Bankcards
  • Table 4-2a: Leading Commercial Bankcard Issuers, 2001 (number and percent)
  • Table 4-2b: Leading Commercial Bankcard Issuers, 2004 (number and percent)
  • Bankcard Issuers Not the Only Players
  • Five Leading Private-Label Fleet Card Issuers
  • Citi Commerce Conquers Oil Cards

Competitive Situation

  • Competitive Overview
  • Change in Competitive Terms for SmartPay
  • Visa and MasterCard Face New Amex Challenge
  • Competition Shifts from Fortune 500 to Small Business
  • Mergers and Alliances Continue to Reshape Competitive Landscape
  • Cobranded Cards Draw Multiple Issuers
  • Lawsuits Lead to Interchange Shifts
  • Specialized Tools Tailored to Different Business Types
  • Globalization
  • Rewards a Major Factor
  • Issuers Compete to Negotiate Best Savings
  • Competitive Focus: Fleet Cards

Marketing and New Product Trends

  • Cross-Pollination Between Markets
  • New and Enhanced Cards for Every Purpose
  • Prepaid Options
  • Payroll Cards
  • One-Cards
  • Smart Cards
  • New Tools Driving Program Adoption, Growth
  • New Features for Small Business
  • Improving Rewards and Rebates
  • Fleet Cards Turn a Corner

Advertising Expenditures and Trends

  • Top Card Brands Spend $900 Million in 2003
  • Bankcard Issuers Ride Coattails
  • Same Taglines, New Tactics

Chapter 5: Competitor Profiles
Competitor Profile: Advanta Corp.

  • Small Business Specialist Sixth Largest in Commercial Bankcards
  • Simple Card Lineup for Businesses
  • Advanta Hires Trump’s First “Apprentice”

Competitor Profile: American Express

  • Losing Share to Visa
  • New Strategies for a Commercial Card Giant
  • Closed-Loop System Gives Greater Control
  • New Business Card Introductions
  • New Corporate Card Products and Features
  • Purchasing Card Program
  • Electronic Reporting Options
  • Amex Lends a Hand to Delta

Competitor Profile: Bank of America

  • Fifth-Place Commercial Bankcard Issuer
  • A Comprehensive Family of Cards
  • Line of Small Business Cards Expanded
  • Extensive Lineup of Electronic Tools

Competitor Profile: Citibank

  • The Second-Largest Commercial Bankcard Issuer
  • Citibank Extends Its Global Reach
  • Citibank Commercial Card Products
  • Citibank Small Business Cards

Competitor Profile: Diners Club

  • The “First and Preferred” Charge Card
  • A Dramatic Change in Acceptance
  • Diners Club Targets Frequent Business Travelers and Affluent Individuals
  • Plush Enhancement Options
  • Strong Software and Back-End Tools

Competitor Profile: GE Capital Financial, Inc.

  • The Seventh-Largest Commercial Bankcard Issuer
  • The Core Family of Corporate Cards
  • A Unique Rewards Program
  • Custom Electronic Tools

Competitor Profile: MasterCard

  • The Second-Largest Card Association
  • Card Lineup Offers Extensive Slate of Perks
  • New Focus on Small Businesses
  • MasterCard Business Savings, Bonuses
  • Innovative Electronic Solutions

Competitor Profile: U.S. Bank

  • U.S. Bank Leads in Commercial Card Market
  • Acquisitions an Ongoing Strategy
  • U.S. Bank Lands Homeland Security Account
  • A Standard Array of Cards
  • PowerTrack Service Forges Ahead
  • U.S. Bank’s Software and Electronic Services

Competitor Profile: Visa

  • The Largest Bankcard Association
  • Competition Heats Up…Potentially
  • Visa Cards Offer Standard Features
  • Visa Also Offers Electronic Purchasing
  • E-Commerce the Big Arena
  • Visa Commerce Gets New Marketing Push

Competitor Profile: Wright Express

  • Unchallenged Leader in Fleet Cards
  • Marketer of Diverse Fleet Products
  • Unmatched Acceptance for WEX Cards
  • FleetPro Leads Charge into Distributor Market

Chapter 6: The Corporate Card Consumer
Introduction

  • Simmons Market Research Bureau Data
  • Card and Cardholder Classifications
  • 13 Million Business Card Users
  • Table 6-1: Usage Rates for Selected Credit Card Classifications: Have or Use, Used in Last Year, and Used in Last Month, 2004 (U.S. adults)
  • Table 6-2: Total Number of Users for Selected Credit Card Classifications: Have or Use, Used in Last Year, and Used in Last Month, 2004 (in millions of U.S. adults)

Consumer Focus: Personal Demographics

  • 35-44 Is Top Age Bracket
  • Diners Club Breaks Gender and Racial Pattern
  • Northeast Is American Express Stronghold
  • Skews by Educational Attainment and Individual Income
  • Table 6-3a: Indices for Use of Selected Credit Card Classifications in Last Year: By Adult Age Bracket, 2004 (U.S. adults)
  • Table 6-3b: Indices for Use of Selected Credit Card Classifications in Last Year: By Adult Age Bracket, 2004 (U.S. adults)
  • Table 6-4: Total Number of Users in Last Year for Use of Selected Credit Card Classifications: By Gender, 2004 (in thousands of U.S. adults)
  • Table 6-5: Indices for Use of Selected Credit Card Classifications in Last Year: By Gender, 2004 (U.S. adults)
  • Table 6-6: Total Number of Users in Last Year for Selected Credit Card Classifications: Non-Hispanic Whites vs. Minorities, 2004 (in thousands of U.S. adults)
  • Table 6-7: Indices for Use of Selected Credit Card Classifications in Last Year: By Race/Ethnicity, 2004 (U.S. adults)
  • Table 6-8a: Indices for Use of Selected Credit Card Classifications in Last Year: By Region, 2004 (U.S. adults)
  • Table 6-8b: Indices for Use of Selected Credit Card Classifications in Last Year: By Region, 2004 (U.S. adults)
  • Table 6-9: Indices for Use of Selected Credit Card Classifications in Last Year: By Highest Level of Educational Attainment, 2004 (U.S. adults)
  • Table 6-10a: Indices for Use of Selected Credit Card Classifications in Last Year: By Individual Income Bracket (in Thousands), 2004 (U.S. adults)
  • Table 6-10b: Indices for Use of Selected Credit Card Classifications in Last Year: By Individual Income Bracket (in Thousands), 2004 (U.S. adults)

Consumer Focus: Professional Demographics

  • Visa, MasterCard Cater to Self-Employed
  • American Express Business Leads Within Private Companies
  • Business Card Use and Length of Service
  • Self-Employed Over Twice as Likely to Use Business Cards
  • Smaller-Company Skew for MasterCard
  • 1.5 Million Wholesale/Retail Employees Are Active Card Users
  • Business Cards and Business Purchasing Involvement
  • Travel Is Top Purchase Among Business Cardholders
  • Table 6-11: Indices for Use of Selected Credit Card Classifications in Last Year: By Type of Job, 2004 (U.S. adults)
  • Table 6-12: Indices for Use of Selected Credit Card Classifications in Last Year: By Executive/Managerial Job Title, 2004 (U.S. adults)
  • Table 6-13: Total Number of Users in Last Year for Selected Credit Card Classifications: By Type of Employer, 2004 (in thousands of U.S. adults)
  • Table 6-14: Indices for Use of Selected Credit Card Classifications in Last Year: By Type of Employer, 2004 (U.S. adults)
  • Table 6-15: Indices for Use of Selected Credit Card Classifications in Last Year: By Length of Service with Company/Employer, 2004 (U.S. adults)
  • Table 6-16: Total Number of Users in Last Year for Selected Credit Card Classifications: By Nature of Self-Employment, 2004 (in thousands of U.S. adults)
  • Table 6-17: Indices for Use of Selected Credit Card Classifications in Last Year: By Nature of Self-Employment, 2004 (U.S. adults)
  • Table 6-18: Total Number of Users in Last Year for Selected Credit Card Classifications: By Company Size, 2004 (in thousands of U.S. adults)
  • Table 6-19: Indices for Use of Selected Credit Card Classifications in Last Year: By Company Size, 2004 (U.S. adults)
  • Table 6-20: Total Number of Business Card Users in Last Year: By Industry in Which Employed, 2004 (in thousands of U.S. adults)
  • Table 6-21: Indices for Use Business Cards in Last Year: By Industry in Which Employed, 2004 (U.S. adults)
  • Table 6-22: Indices for Use of Selected Credit Card Classifications in Last Year: By Nature of Business Purchase Involvement, 2004 (U.S. adults)
  • Table 6-23: Total Number of Business Card Users in Last Year: By Nature of Product or Service Business Purchase, 2004 (in thousands of U.S. adults)
  • Table 6-24: Indices for Use of Business Cards in Last Year: By Nature of Product or Service Business Purchase, 2004 (U.S. adults)

Chapter 7: Looking Ahead
Trends and Opportunities

  • Pushing for Mandatory Use
  • New Challenges, Opportunities in Corporate Cards
  • Small Business Is Booming
  • Challenges for Small Issuers Ahead
  • Rewards Programs Transform

Appendix: Addresses of Bankcard Associations and
Selected Commercial Card Issuers

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