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US Cards and Payments: Opportunities and Risks to 2023 (including Banking and Payments Survey Insights)

US Cards and Payments: Opportunities and Risks to 2023 (including Banking and Payments Survey Insights)

Summary

GlobalData’s 'US Cards & Payments: Opportunities and Risks to 2023' 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 cards, cash, direct debits, credit transfers, and cheques during the review-period (2015-19e).

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 (2019e-23f). 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 & Payments: Opportunities and Risks to 2023' 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 cards, cash, direct debits, credit transfers, and cheques. It also, includes an overview of the country's key alternative payment instruments.
  • E-commerce 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.
Scope
  • Rising pressure on profitability and the growing consumer preference for online banking are driving the concept of digital-only banks in the US. In June 2019, UK-based digital-only bank Monzo launched its operations in the US in partnership with Sutton Bank. A Mastercard debit card is issued when consumers open an account. From July 2019, Germany-based mobile-only bank N26 started to offer a checking account via Axos Bank. The account comes with a Visa debit card, as well as no minimum account balance or maintenance charges. To keep up with these challenger banks, the likes of JPMorgan Chase, Goldman Sachs, and Citizens Bank have launched digital-only banks.
  • Credit and charge cards account for 51.2% of total payment card value in 2019. Growth in the credit card market has been driven by factors such as rising employment and growing demand for consumer credit. In response to this growth, non-banking companies are entering the space. Apple partnered with Goldman Sachs to unveil Apple Card in March 2019. The Mastercard-branded credit card can be used for in-store, in-app, and online purchases. Card holders are offered 3% cashback on Apple purchases, 2% cashback on Apple Pay transactions, and 1% cashback on purchases with the physical card. The company started to offer the new credit card on a selective basis from August 6, 2019.
  • The US Federal Reserve decreased its benchmark interest rate in July 2019 by 0.25% to a range of 2-2.25%. Loan rates are also likely to decrease depending on the type of loan and the term. It is reasonable to expect interest rates to decrease on credit cards, mortgages, home equity loans, car loans, and other consumer loans going forward. Following the Federal Reserve rate cut, JPMorgan Chase, Citibank, and U.S. Bank lowered their prime rate by 25 basis points to 5.25% effective from August 1, 2019, which in turn makes borrowing less expensive for consumers.
Reasons to buy
  • 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.


  • Market Overview
    • Table US: key facts, 2019e
    • Table Regional benchmarking of payment cards, 2019e
  • Payment Preferences: Cash, Cards, and Mobile Wallets
  • Market Overview
  • CARD-BASED PAYMENTS
    • Payment Cards: Market Sizing and Forecasting
    • Payment Cards: Market by Product/Service Type
    • Debit Cards: Market Sizing and Forecasting
    • Debit Cards: Schemes
    • Debit Cards: Issuers
    • Credit and Charge Cards: Market Sizing and Forecasting
    • Credit and Charge Cards: Schemes
    • Credit and Charge Cards: Issuers
    • Credit Card Debt
    • Prepaid Cards: Market Sizing and Forecasting
    • Contactless Cards: Card Holding
  • MERCHANT ACQUIRING
    • Acquiring & Processing
    • Retail: Market Sizing & Forecasting
  • E-COMMERCE PAYMENTS
    • E-commerce: Market Sizing & Forecasting
    • E-commerce: Market by Product/Service Category
    • E-commerce: Market by Payment Tool
  • MOBILE PROXIMITY PAYMENTS
  • P2P PAYMENTS
  • BILL PAYMENTS
  • ALTERNATIVE PAYMENTS
    • Alternative Payments: Payment Solutions
  • PAYMENT INNOVATIONS
  • PAYMENTS INFRASTRUCTURE & REGULATION
    • POS Terminals & ATMs
    • Regulatory Environment
  • Appendix
    • Table US: payment instrument transaction volumes (billions), 2015-23f
    • Table US: payment instrument transaction values ($tn), 2015-23f
    • Table US: payment cards in circulation by type (millions), 2015-23f
    • Table US: volume of payment card transactions (billions), 2015-23f
    • Table US: value of payment card transactions ($bn), 2015-23f
    • Table US: debit cards in circulation (millions), 2015-23f
    • Table US: debit card transaction volumes, 2015-23f
    • Table US: debit card transaction values ($), 2015-23f
    • Table US: debit cards in circulation by scheme (millions), 2015-19e
    • Table US: debit card transaction values by scheme ($bn), 2015-19e
    • Table US: number of debit cards in circulation by issuer (millions), 2015-19e
    • Table US: debit card transaction values by issuer ($bn), 2015-19e
    • Table US: credit and charge cards in circulation (millions), 2015-23f
    • Table US: credit and charge card transaction volumes, 2015-23f
    • Table US: credit and charge card transaction values ($), 2015-23f
    • Table US: credit and charge cards in circulation by scheme (millions), 2015-19e
    • Table US: credit and charge card transaction values by scheme ($bn), 2015-19e
    • Table US: number of credit and charge cards in circulation by issuer (millions), 2015-19e
    • Table US: credit and charge card transaction values by issuer ($bn), 2015-19e
    • Table US: credit cards in circulation (millions), 2015-23f
    • Table US: credit card transaction volumes, 2015-23f
    • Table US: credit card transaction values ($), 2015-23f
    • Table US: credit cards in circulation by scheme (millions), 2015-19e
    • Table US: credit card transaction values by scheme ($bn), 2015-19e
    • Table US: charge cards in circulation (millions), 2013-23f
    • Table US: charge card transaction volumes, 2015-23f
    • Table US: charge card transaction values ($), 2015-23f
    • Table US: charge cards in circulation by scheme (millions), 2015-19e
    • Table US: charge card transaction values by scheme ($bn), 2015-19e
    • Table US: prepaid cards in circulation (millions), 2015-23f
    • Table US: prepaid card transaction values ($bn), 2015-23f
    • Table US: merchant acquiring transaction volumes (billions), 2015-23f
    • Table US: merchant acquiring transaction values ($tn), 2015-23f
    • Table US: acquirers' transaction volumes (billions), 2015-19e
    • Table US: acquirers' transaction values ($bn), 2015-19e
    • Table US: retail outlets and card-accepting merchants (millions), 2015-23f
    • Table US: debit card average interchange fees (%), 2015-19e
    • Table US: debit card merchant service charge and interchange fee (%), 2015-23f
    • Table US: credit and charge card average interchange fees (%), 2015-19e
    • Table US: credit and charge card merchant service charge and interchange fee (%), 2015-23f
    • Table US: retail market by product categories ($bn), 2015-23f
    • Table US: retail market by service categories ($bn), 2014-18

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