MasterCard is the runners-up in 
the ranks, but is on a high with a rise of 48 points in market share for 2006. The company has a clear focus to innovate a n d grow its range of offerings through strong link with the customers. With these two giants on a high, the smaller players like American Express (10.73%), JCB (1.22%) and Diners Club (0.43%) should either pull up their socks fast or else be prepared to be taken over by the behemoths. A Nilson Report suggests that the plastic trend is not merely a passing phase; it extrapolates that by 2010, credit cards will capture 47% of payment system options. During the last decade, cash and cheque payments in the US dropped from 77% to 50% and card usage rose from 21% to 40%. Furthermore, there has been a steep growth in internet retailing. An AC-Nielsen report confirms that more than 627 million people have shopped online. Although, internet retailing is still growing from a relatively small base, it is clearly making life even better for the credit card majors. And with widespread proliferation of the concept of plastic money in the developing world, this industry is just beginning to spread its wings globally, whether or not the ‘green brigade’ approves!
the ranks, but is on a high with a rise of 48 points in market share for 2006. The company has a clear focus to innovate a n d grow its range of offerings through strong link with the customers. With these two giants on a high, the smaller players like American Express (10.73%), JCB (1.22%) and Diners Club (0.43%) should either pull up their socks fast or else be prepared to be taken over by the behemoths. A Nilson Report suggests that the plastic trend is not merely a passing phase; it extrapolates that by 2010, credit cards will capture 47% of payment system options. During the last decade, cash and cheque payments in the US dropped from 77% to 50% and card usage rose from 21% to 40%. Furthermore, there has been a steep growth in internet retailing. An AC-Nielsen report confirms that more than 627 million people have shopped online. Although, internet retailing is still growing from a relatively small base, it is clearly making life even better for the credit card majors. And with widespread proliferation of the concept of plastic money in the developing world, this industry is just beginning to spread its wings globally, whether or not the ‘green brigade’ approves!For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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