US Cards and Payments: Opportunities and Risks to 2029

US Cards and Payments: Opportunities and Risks to 2029

Summary

GlobalData’s ‘US Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the US cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘US Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the US cards and payments industry, including -

• Current and forecast values for each market in the US cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including card, cash, direct debits, credit transfer, and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the US cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the US cards and payments industry.

• The US is home to a highly developed ecommerce market globally, second only to China. To capitalize on this trend, in November 2024, Amazon launched its new mobile-only ecommerce platform Haul, which offers products across categories including lifestyle, home, and electronics-all priced at $20 or less. Similarly, livestream ecommerce platforms are being launched. One notable example is the introduction of Chinese social media network TikTok’s ecommerce platform in the US in September 2023.
• Payment companies offer open banking tools that allow secure access to financial information. For example, in October 2024, Mastercard laid the foundation for its open banking tool, Connect Plus. This platform enables third-party service providers to securely share financial data and gives customers control over how and with whom their information is shared. Additionally, Connect Plus notifies customers when third-party service providers access their financial information. Connect Plus is currently in the pilot stage and is expected to be fully launched in the US during 2025.
• According to the Federal Reserve Payments Insight Brief, as of 2023, 33% of Americans had used digital wallets such as Apple Pay and Google Pay in the previous 12 months-up from 25% in 2022. In addition, 40% of consumers had used banking mobile apps in the last 12 months, compared to 37% in 2022. This highlights the promising outlook for digital wallets in the US, with projections indicating continued growth as technology advances and consumer preferences evolve. As per the same research, in 2023 more than half of Generation Z (aged 18-25) and millennials (aged 26-41) used digital wallets, while 80% of these respondents said it is important to be able to make payments via a mobile device.

• Card market size in terms of number of cards, value and volume of transactions in the US along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including card, cash, direct debits, credit transfer, and cheques.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

• Make strategic business decisions, using top-level historic and forecast market data, related to the US cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the US cards and payments industry.
• Assess the competitive dynamics in the US cards and payments industry.
• Gain insights into marketing strategies used for various card types in the US.
• Gain insights into key regulations governing the US cards and payments industry.