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United States of America (USA) Cards and Payments - Opportunities and Risks to 2025

  • ID: 5458412
  • Report
  • October 2021
  • Region: United States
  • 87 Pages
  • GlobalData
1h Free Analyst Time

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FEATURED COMPANIES

  • Amazon Pay
  • Capital One
  • Elavon
  • Global Payments
  • PayPal
  • Samsung Pay
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

The publisher's 'United States of America (USA) Cards and Payments - Opportunities and Risks to 2025' 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, cards, credit transfers, direct debits, and cheques during the review-period (2017-21e).

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 (2021e-25f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together the publisher's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

The 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 cash, cards, credit transfers, direct debits, 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.

Scope

  • The US already has two instant payment solutions in place: Zelle and Real-Time Payments (RTP). However, neither has universal penetration in the market or interoperability with one another. To overcome such shortcomings, on August 5, 2019, the Federal Reserve Board announced that the country’s federal reserve banks are developing a new instant payment system called FedNow. This system will have a wider presence than the existing options and will allow banks of every size to provide instant payment services to their customers. The new payment system will operate 24 hours a day, seven days a week, 365 days a year, with a maximum transaction limit of $25,000. The service is expected to go live in 2023.
  • Mastercard is phasing out the use of magnetic stripes on its credit and debit cards over the next decade, as the industry moves towards more secure and convenient alternatives such as chips and contactless payments. The transition will start in 2024, when the stripe will no longer be required on new cards in Europe (where chip cards are already widely used). In the US the adoption of chip payments has been slower, meaning the transition will start in 2027. From 2029, no new Mastercard debit or credit cards will include a magnetic stripe, which will be completely phased out by 2033.
  • To provide a faster and seamless checkout experience, the Click to Pay interoperable one-click online checkout service was jointly developed by Mastercard, Discover, Visa, and American Express. Launched in the US in October 2019, this solution brings these major international card schemes under one banner, creating a huge network of prospective customers that can be served via a single acceptance brand. The solution is designed to provide a simple and secure online checkout experience to online shoppers. It does this by eliminating the need to manually enter payment and other personal details each time users place an order. To make a payment, users select Click to Pay at checkout, enter their registered email address, and provide the one-time password received to their mobile device to confirm the transaction.

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.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Amazon Pay
  • Capital One
  • Elavon
  • Global Payments
  • PayPal
  • Samsung Pay
  • Market Overview
  • Payment Instruments
  • Card-Based Payments
  • Merchant Acquiring
  • Ecommerce Payments
  • Buy Now Pay Later
  • Mobile Payments
  • P2P Payments
  • Bill Payments
  • Alternative Payments
  • Payment Innovations
  • Job Analysis
  • Payment Infrastructure and Regulation
  • Appendix
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Federal Reserve
  • Zelle
  • Real-Time Payments
  • Wells Fargo
  • Bank of America
  • JPMorgan Chase
  • PNC Bank
  • Truist
  • Citibank
  • Capital One
  • Visa
  • Mastercard
  • PULSE
  • Star
  • Discover
  • American Express
  • FIS
  • Fiserv
  • Global Payments
  • Elavon
  • PayPal
  • Apple Pay
  • Samsung Pay
  • Google Pay
  • Amazon Pay
  • Walmart Pay
  • Click to Pay
Note: Product cover images may vary from those shown
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