According to the Global Commercial Cards study by RBR Data Services, a division of Datos Insights, the commercial cards market continued to expand across the SMB, T&E and B2B sectors in 2022, with both banks and fintechs driving substantial growth of 17%.
American Express' share bolstered with return to business travel
As American Express-branded commercial cards are commonly used for travel-related purchases, the network saw a significant boost from the post-pandemic recovery of the T&E segment.
Fintech commercial card products give boost to
The presence of fintechs, challenger banks and neobanks in the commercial cards space is growing. Their products often come in the form of virtual cards with app-based features, both of which are increasingly in demand. They also appeal to small businesses which are not always able to pass traditional bank checks.
Clara and Jeeves, for example, issue
Fuel cards increasingly shift to international networks
International networks have also gained share because fuel cards are increasingly becoming open-loop or being launched by retailers in partnership with international networks, meaning cardholders are no longer restricted to certain fuel retailers. As a result, private label products saw their share of the B2B segment fall for the second year in a row.
Notes to editors
About RBR Data Services
RBR Data Services provides clients with independent and reliable data and insights through published research, consulting and bespoke data services. Our global research covers the cards and payments, retail technology and banking automation sectors and is used by the leading market participants, analysts and regulators as the authoritative source of industry and competitor benchmark data. For any questions about this release, please contact rbr@datos-insights.com.
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