Key Market Indicators
The Japanese credit card transaction market is projected to reach approximately $664 billion by 2028, up from around $619 billion in 2023. This marks an average annual growth rate of 1.1%. Since 2017, Japan's credit card transaction demand has seen a modest annual increase of 0.5%. In 2023, Japan held the third position globally in credit card transactions. South Korea surpassed Japan with transactions also amounting to about $619 billion. The top three countries in this ranking were South Korea, Japan, and Canada, respectively. Meanwhile, the number of credit cards in Japan is expected to decline slightly over the coming years. By 2028, the number of credit cards is anticipated to reach 280 million units, down marginally from 280 million units in 2023, reflecting an average annual decrease of 0.1%. Since 2012, the supply of credit cards in Japan has decreased at an annual rate of 0.3%. In 2023, Japan also ranked third in the number of credit cards issued globally. China led the ranking with 280 million units, followed by Japan and Brazil.
