Card payments are usually a guaranteed checkout option for online payments, sometimes the only one. Because access to a traditional bank account is needed, this method is far more prevalent outside emerging markets, in regions with a larger banked population.
Understanding the various card schemes and their functions can be confusing. For instance, many cards are categorized as international and can efficiently make digital cross-border payments. However, there are also local card schemes that only serve specific regions.
Most used options
Card payment solutions
Explore the diverse types and schemes of card payment options that power secure and convenient transactions worldwide.
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Cards developed by domestic networks can be used as credit or debit cards. As of 2023, there were over 90 domestic card schemes globally. Local card schemes develop for many reasons, including regulations stopping international networks from operating, wanting to be self-sufficient, creating competition, and protecting national data.
Domestic card schemes, such as Turkey's Troy or Nigeria's Verve, work with local financial institutions, banks, and merchants to establish payment ecosystems that consider local consumer behavior and payment preferences.
Local cards can usually only function with local-to-local purchases, making cross-border payments with differing currencies and exchanges not an option. -
International card schemes are projected to hold a 63% market share by 2027. These are the brands many know and use, from cross-border purchases to buying soda from the local corner store.
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Credit cards can come from domestic or international networks. Users can purchase goods and services on credit using a credit card, similar to a short-term loan. Credit cards also allow for installment purchases, popular in regions like Latin America.
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Both local and international schemes disburse debit cards. With a debit card, access funds directly from a checking account without credit. Depending on the network, debit cards work online or in person to buy goods and services or to withdraw cash from an ATM.
Benefits of offering local card payments in emerging markets
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Coverage and familiarity
Offering local cards as a payment option allows for a broader reach in markets where domestic schemes are used more than international networks -
Success rates
Enables transactions that might not be possible with international schemes -
Trust
Accepting domestic schemes helps build trust and familiarity with your company
Nigeria
Egypt
India
Turkey
