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Industry Landscape
The fintech credit card industry is experiencing rapid innovation, driven by mobile-first and cloud-native solutions. It's moving away from traditional models towards API-driven platforms enabling faster deployment and greater customization. Increased demand for embedded finance and personalized customer experiences is fueling growth, with established financial institutions partnering with or acquiring fintechs to modernize offerings and compete effectively in a digital-first economy.
Total Assets Under Management (AUM)
Credit Card Purchase Volume in United States
~Approximately $5.2 trillion (2023, forecasted)
(10.1% (2023) CAGR)
- Driven by strong consumer spending and inflation.
- Increased adoption of digital payment methods.
- Recovery in travel and entertainment sectors.
Total Addressable Market
5.2 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Embedded Finance
The seamless integration of financial services, like credit card offerings, directly into non-financial platforms and customer journeys.
Generative AI in Personalization
Utilizing AI to create highly personalized credit card products, rewards, and customer communications based on individual user behavior and preferences.
Central Bank Digital Currencies (CBDCs)
Digital forms of a country's fiat currency, issued and backed by a central bank, which could revolutionize payment rails and credit issuance models.
Impactful Policy Frameworks
Consumer Financial Protection Bureau (CFPB) Action on Credit Card Late Fees (2024)
The CFPB finalized a rule in 2024 to cap most credit card late fees at $8, a significant reduction from the previous average of $32.
This policy will directly reduce revenue for credit card issuers from late fees, pressuring Deserve's clients to find alternative revenue streams or optimize operational efficiency.
Payment Card Industry Data Security Standard (PCI DSS) v4.0 (2022)
PCI DSS v4.0, released in 2022, is the latest version of the global standard for payment account data security, introducing new requirements for security controls and ongoing processes.
Deserve and its clients must ensure their platforms and processes are compliant with PCI DSS v4.0, requiring potential updates to security architecture and operational procedures to maintain certification and protect sensitive data.
State-level Data Privacy Laws (e.g., California Privacy Rights Act - CPRA, effective 2023)
Various US states are enacting comprehensive data privacy laws, like California's CPRA (effective 2023), granting consumers more control over their personal data and imposing stricter obligations on businesses regarding data collection, use, and sharing.
Deserve and its clients must navigate a complex patchwork of state-level data privacy regulations, impacting how customer data is collected, stored, processed, and shared for credit card programs, potentially requiring new consent mechanisms and data management practices.
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