Credit Card Processing & Money Transferring in the US
The Credit Card Processing and Money Transferring industry is expected to experience strong revenue growth as processors continue to reap the benefits of large-scale implementation of electronic payment technology and growing e-commerce over the five years to 2018. The ratio of electronic payments to cash and check payments has increased over the five years to 2018, driving up transaction volume for processors in the industry. Increased consumer spending has boosted transaction volumes in recent years, effectively stimulating growth. However, the industry has also grappled with more stringent regulation put in place to bolster security for consumers and merchants so that information is stored and transmitted securely. Over the five years to 2023, consumer spending is expected to also continue rising, thus expanding the amount and volume of transactions consumers make with their debit and credit cards. Furthermore, industry operators are expected to expand their online presence as they shift merchants of all sizes to accept electronic methods of payment as they become standard among consumers.
This industry offers financial transaction processing, reserve and liquidity services and check or other financial instrument clearinghouse services. The industry excludes electronic transactions associated with the US Federal Reserve (central bank).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook