Global cards and payments market to grow to $909.1bn in 2023

The global cards and payments market to grow from $721.9bn in 2019 to reach $909.1bn in 2023, according to new research.

The new report from estimates that the sector would first expand by a compound annual growth rate (CAGR) of 0.1% between 2019 and 2020 to reach $722.4bn.

It blamed the slow growth of the market this year on the ongoing uncertainties caused by Covid-19.

However, the market is expected to recover and grow at a CAGR of 9% from 2021 and reach $909.1bn in 2023.

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