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Financial Transaction Processing

  • ID: 1052344
  • Report
  • Region: United States
  • 10 pages
  • First Research
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Brief Excerpt from Industry Overview Chapter:

Companies in this industry provide services such as credit card processing, electronic funds transfer, and check clearing. Major companies include Alliance Data Systems, First Data, Global Payments, Heartland Payment Systems, MasterCard, Visa, and Western Union (all based in the US), as well as China UnionPay (China), Cielo (Brazil), and Moneris Solutions (Canada).

Competitive Landscape

Technology is transforming the financial transaction processing industry and consumers' interactions with money. The use of cash as a payment method is plummeting, although it remains the predominant form of payment for small purchases: Approximately 60% of in-person payments under $10 were made in cash, compared to 20% of in-person transactions for $25 or more, according to the Federal Reserve. Noncash payments increased at annual rates of 5.3% in volume and 3.4% in value between 2012 and 2015, according to a 2016 Federal Reserve Payments Study. Debit, credit, and eCheck/ACH (automated clearinghouse) payments all grew during the period; traditional paper check payments fell. Digital payment transactions are expected to reach 726 billion by 2020, according to a study by Capgemini and BNP Paribas.

Products, Operations & Technology

Processors provide transaction services to banks that issue credit cards and to merchants that accept credit card payments. Merchant products include authorizing, capturing, and settling merchants’ credit and debit card transactions, and handling chargebacks. Chargebacks occur when a consumer disputes a charge and charges it back to the merchant. Processors also sell or lease point-of-sale (POS) terminals. Card...
Note: Product cover images may vary from those shown
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  • Industry Overview
  • Quarterly Industry Update
  • Business Challenges
  • Business Trends
  • Industry Opportunities
  • Call Preparation Questions
  • Financial Information
  • Industry Forecast
  • Web Links and Acronyms
Note: Product cover images may vary from those shown
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