DUBLIN–(BUSINESS WIRE)–The “US Cards & Payments: Opportunities and Risks to 2023” report has been added to ResearchAndMarkets.com’s offering.
US Cards & Payments: Opportunities and Risks to 2023 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 US payments market is highly mature – arguably even over-served by its financial institutions. There were more debit cards in circulation than individuals in the US in 2019 by a considerable margin. Ready access to formal financial services has resulted in a population that is highly comfortable with credit and debit cards both in-store and online. A wide range of card-issuing and alternative payment brands (including P2P, e-commerce, and mobile proximity payments) are available.
With growth in the market, companies from diverse sectors have launched solutions to gain market share. Mobile phone manufacturers such as Apple and Samsung, technology provider Google, banks including JPMorgan Chase, Wells Fargo, and Capital One, and retailers such as Amazon and Walmart have all launched their own payment solutions. In this highly competitive market, these companies are also expanding the scope of their solutions beyond payments to retain existing customers and attract new ones.
Point of sale (POS) financing is an emerging trend in the US consumer financing space. JPMorgan Chase announced plans to launch My Chase Plan – a new service allowing card holders to purchase products that cost $500+ over a longer duration with a monthly fee, rather than interest-based repayments. The service is likely to be launched later in 2019.
The US merchant acquiring and payment processing space was previously fragmented, with companies competing mostly on national and regional levels. However, interest from strategic and financial investors has led to a wave of consolidation. In May 2019, Global Payments announced a merger with US-based card processor TSYS for a consideration of $21.5bn. In July 2019, Fiserv completed the acquisition of First Data for $22bn in an all-stock deal. But the blockbuster deal remains FIS’s acquisition of Worldpay for $43bn.
The US e-commerce market registered a review-period (2015-19e) compound annual growth rate (CAGR) of 12.1%. Credit cards account for the largest share of any single payment tool, owing their success to their comfort and convenience. Yet alternative payment methods including Apple Pay, Chase Pay, Samsung Pay, and Google Pay are also being used for e-commerce.
Scope
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/n9u4d7
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
As pet ownership soars, Beyond Memories offers a unique and heartfelt way to immortalize furry…
Encourages All Stockholders to Vote on the BLUE Proxy Card Ahead of the Company's Annual…
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VANCOUVER,…
VANCOUVER, BC / ACCESS Newswire / June 27, 2025 / BioNxt Solutions Inc. ("BioNxt" or…
VANCOUVER, BC / ACCESS Newswire / June 27, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (the…
Generate, customize, and schedule stunning Pinterest pins in bulk-boosting brand engagement in seconds. WHEELING, WV…