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USA Cards And Payments Market Research Report - Segmentation By Cards (Debit Cards, Credit Cards, Prepaid Cards), Payment Terminals (POS And ATM's), Payment Instruments (Credit Transfers, Direct Debit, Cheques, Payment Cards) - Transaction Value, Volumes, Historical Trends, Analysis And Forecasts (2022 to 2027)

Published: January, 2022
ID: 6458
Pages: 85

USA Cards And Payments Market Overview (2022 - 2027)

The report USA Cards And Payments Market provides insight into various payment cards market trends and growth opportunities in the USA along with the complete information about different types of cards in the market. It also offers an epitomized assessment of the competitors in the market, influential marketing strategies, customer purchase patterns, adopted payment methods in the e-commerce industry and significant government regulations associated with the USA cards and payments market. It provides reliable information about the different types of cash transactions, volumes of cardholders, market share, current accounts, growth in the number of cards, credit cards outstanding balances, transactional values, details of the issuers along with available banking schemes and futuristic analysis of overall cards and payment market in the United States.

The USA Cards and Payments Market is the second-largest market for payment cards after China. The penetration of pay now and pay later cards is very high with the available convenient payment options. However, the recent times have witnessed a decrease in the use of payment cards with the advent of alternative payment options like PayPal, mobile wallets like Android Pay, Apple Pay, and Samsung Pay, and other choices.

USA Cards Circulation Statistics:

The report by Market Data Forecast predicts that the number of cards in circulation in the country will rise from 1,422.1 million to 1,557.5 million by 2021 with a CAGR close to 5%. The transaction volumes will increase from current USD 120.6 billion to 148.5 billion. However, the average transaction value may dip from USD 57.5 to USD 56.5 as customers are preferring cards for smaller value payments these days.

US Debit Cards Market:

The debit cards in the US accounted for more than half of the total cards in circulation and are increasingly being used at POS. The debit card transactions at POS in 2018 were 68.3% of the total transactional volume. During the review period, the transactional value and frequency of use at POS were increasing, but the average transactional value declines at POS compared to the ATM transactions. Visa and MasterCard hold the majority of the market share in terms of the debit card.

US Credit Cards Market:

The credit cards, although less in number compared to the pay now cards, accounts for the far high average transactional value. During the review period, the number of credit card transactions at POS recorded a CAGR of 7.88% and estimated to be growing at 4.11% during the forecast period, whereas the frequency of the use at POS terminals is estimated to grow at a CAGR of 2.63% till 2021. American Express holds the lion’s share of credit cards market with different options for different sections of people.

The smartphone operated payment solutions are slowly grabbing the dominant share of payment cards in the online purchases. The e-commerce value of the United States was close to USD 450 billion in 2018 and expected to grow substantially in the years ahead. Although credit cards and debit cards along with PayPal account for the dominant share of e-trade as of now, it is evident from market reports that the mobile wallet transactions are going to replace them sooner.

EMVs with contactless cards revolutionizes the USA Cards And Payments Market

The USA Cards And Payments Market is slowly moving towards EMVs, replacing the magnetic stripes with the chip-enabled cards. In 2018, close to 60% of card transactions include chip-based cards and more than 75% of ATMs are supporting these cards. POS terminals accounted for a large volume of transactions compared to ATMs.

The transactions for online shopping using eWallet, bank transfers and cash on delivery have predominantly increased close to 57%, 60%, and 55% respectively in 2018, compared to 2016. The recent trends reveal that enhanced payment experience and customer convenience from the alternate payment options can greatly influence the card payments for e-commerce purchases.

The improvements in technology and smartphone use clearly depict the switch from POS terminals to mPOS terminals very soon in the US markets. There is also an increase in the NFC-based POS terminals along with the mobile payment options of Apple Pay, Samsung Pay, Android Pay, and others. Equinox Payments, Ingenico, PAX technology and Verifone are some of the significant manufacturers of POS terminals. Many leading banking institutes like Wells Fargo, Chase, Bank of America, US Bank and others are updating their regular ATMs with contactless ATMs.

Some of the dominating players in USA Cards And Payments Industry are:

  1. JPMorgan Chase
  2. Wells Fargo
  3. Capital One
  4. Vantiv
  5. First Data
  6. Worldpay
  7. American Express Company
  8.  Citigroup Inc
  9. Bank of America Corporation
  10. Capital One Financial Corporation

On the whole, the cards and payment industry of the United States of America will face some serious competition from these alternate payment options and the augmented use of the contactless cards. For instance, the decreased growth rate of credit cards, debit cards and prepaid cards in internet purchases compared to other modes of payment options unfold the future trends for the payment cards market.

Alternate payment options available in the US:

  1. Paypal
  2. ApplePay
  3. Samsung Pay
  4. Google Pay
  5. Chase Pay
  6. Walmart Pay
  7. Starbucks Mobile Wallet
  8. Wells Fargo Wallet
  9. CitiPay
  10. Visa Checkout
  11. Masterpass

1. Definitions

2. Research Methodology

2.1 Research Process

2.1.1 Market Sizing

2.1.2 Competitor Analysis

2.1.3 Market Forecasting

2.1.4 Quality Control Process

3. Executive Summary

4. Industry Benchmarking

5. Market Attractiveness

6. Industry Enablers

6.1 Emerging Payment Technologies

6.2 Growing E-commerce Market

6.2.1 E-commerce Mix by Payment Method

6.3 EMV Migration

6.4 Contactless Cards

7. Regulatory Framework

8. Key Industry Events

9. Merchant Acquiring Business Overview

9.1 Business Overview & Key Operators

9.2 Regulatory Framework

9.3 Technological Changes

10. Market Segmentation

10.1 Cards for Students

10.2 Cards for Travelers

10.3 Cards for High-income Customers

10.4 Cards for Frequent Shoppers

11. Market Sizing

11.1 Debit Cards Market Overview

11.1.1 Scheme Providers

11.1.2 Key Issuers

11.2 Pay Later Cards Market Overview

11.2.1 Scheme Providers

11.2.2 Key Issuers

11.3 Payment Terminals Market

11.4 Payment Instruments Market

12. Key Operators in the Market

12.1 American Express Company

12.1.1 Company Snapshot

12.1.2 SWOT Analysis

12.1.3 Cards Portfolio

12.2 JPMorgan Chase & Co.

12.2.1 Company Snapshot

12.2.2 SWOT Analysis

12.2.3 Cards Portfolio

12.3 Bank of America Corporation

12.3.1 Company Snapshot

12.3.2 SWOT Analysis

12.3.3 Cards Portfolio

12.4 Citigroup Inc.

12.4.1 Company Snapshot

12.4.2 SWOT Analysis

12.4.3 Cards Portfolio

12.5 Capital One Financial Corporation

12.5.1 Company Snapshot

12.5.2 SWOT Analysis

12.5.3 Cards Portfolio

13. Appendix

13.1 Total Cards Market Stats

13.2 Debit Cards Market Stats

13.2.1 Debit Cards Use at Payment Terminals

13.2.2 Debit Cards Market – Scheme Providers Data

13.3 Pay Later Cards Market Stats

13.3.1 Pay Later Cards Use at Payment Terminals

13.3.2 Pay Later Cards Market – Scheme Providers Data

13.4 Payment Terminals Data

13.5 Payment Instruments Data

USA Cards And Payments Market

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