Global Number of Cards with a Payment Function by Country

The data reveals significant regional disparities in the global number of cards with a payment function. China leads with 8.7873 billion units, showing a strong 2.95% year-on-year growth for 2023. India, the second-largest market, exhibited a robust 3.89% year-on-year increase, reaching 2.4922 billion units. Japan saw modest growth at 0.93%, totaling 1.5348 billion units. Russia and Indonesia followed with 0.53594 billion and 0.4063 billion units, respectively, experiencing 3.13% and 3.28% growth rates. South Korea's market remained nearly stagnant at a 0.15% increase, standing at 0.29821 billion units. Mexico, the UK, and Germany displayed minimal growth, while Argentina and Italy reported higher year-on-year increases of 2.31% and 1.21%, respectively. Notably, France and Sweden witnessed declines in their markets.

Future trends to watch include continued rapid expansion in emerging markets like India and Indonesia due to increasing financial inclusion efforts. The Chinese market, already substantial, is expected to maintain strong growth driven by technological advancements in mobile payments. Conversely, mature markets like South Korea and the UK may experience slower growth rates. Emerging factors such as cryptocurrency adoption and the increased use of mobile wallets could further influence the dynamics of payment card usage globally.