The report provides market analysis, information and insights into the US cards and payments market, including:
Current and forecast values for each segment of the US cards and payment market including debit cards, credit cards, prepaid cards and charge cards
Comprehensive analysis of the industry’s market attractiveness and future growth areas
Analysis of various market drivers and regulations governing the US cards and payment market
Detailed analysis of the marketing strategies adopted for selling prepaid cards used by various bankers and other institutions in the market
Comprehensive analysis of consumer attitudes and their buying preferences for cards
Competitive landscape of the US cards and payments market
The US cards and payments market registered marginal growth during the review period (2007–2011). Combined card volume recorded a growth rate of 4.62% in 2011 over figures from 2010. The positive economic outlook, the need for more sophisticated products in terms of prepaid and charge cards, the growth of online and mobile shopping and increasing levels of per capita income supported the overall growth of the US cards and payments market. During the review period, the market size of the cards and payments industry in terms of volume increased at a CAGR of 1.35% to reach 1.5 billion cards in 2011. In value terms, the US cards and payments market valued US$4.8 trillion in 2011.
This report provides a comprehensive analysis of the US cards and payments market
It provides current values for the US cards and payments market for 2011 and forecast figures for 2016
It details the different macroeconomic, infrastructural, consumer and business drivers affecting the US cards and payments industry
It outlines the current regulatory framework in the industry
It details the marketing strategies used by various bankers and other institutions
It profiles the major banks in the US cards and payments market
Reasons To Buy
Make strategic business decisions using historic and forecast market data related to the US cards and payments market and each market within it
Understand the key market trends and growth opportunities within the US cards and payments market
Assess the competitive dynamics in the US cards and payments market
Gain insights into the marketing strategies used for selling various types of cards in the US market
Gain insights into key regulations governing the US cards and payment market
The US market for cards and payments grew both in volume and value terms during the review period. In terms of transaction volume, the card payment market grew at a CAGR of 8.87% during the review period from 51.6 billion transactions in 2007 to 72.4 billion in 2011.
In terms of card volume, debit cards remained the largest card market with a market share of 39.1% followed by credit cards with a market share of 33.6%.
The US mobile commerce sector has seen tremendous growth in the last few years, especially in 2011, when the sector recorded annual growth of over 90%, reaching US$6.7 billion compared to US$3.5 billion in 2010.
The US cards and payments industry experienced an increase in online fraud, with fraudsters using various techniques to gain unauthorized access to card accounts.
In July 2012, the Federal Reserve announced amendments in the provisions of Regulation II (Debit Card Interchange Fees and Routing), that allows a debit card issuer, subject to interchange fee standards, to receive a fraud-prevention adjustment.
2 Market Attractiveness and Future Prospects for the Cards and Payments Market
The US cards and payments market is expected to register a healthy CAGR of X.XX% over the forecast period to reach US$X.X trillion by the end of 2016. As a result, the market offers huge growth opportunities for banks and non-banking card issuers.
In the US, categories such as mobile commerce (m-commerce), corporate procurement, gift cards, travel, and government welfare schemes display positive growth potential for prepaid cards. While the US government has been moving towards prepaid cards to distribute social benefits, prepaid travel cards are another key growth area as travel frequency among US residents grows. For debit cards, retail sales, utility bill payments and entertainment are key categories which present strong growth potential.
Credit and charge cards have significant potential in retail, travel, and entertainment. At the corporate level, charge cards may be used for purchasing purposes, as these cards have a fixed payment timeline which can allow companies to pay on time and maintain credibility.