United States of America (USA) Cards and Payments - Opportunities and Risks to 2025
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United States of America (USA) Cards and Payments - Opportunities and Risks to 2025
Summary
GlobalDatas 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 countrys competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalDatas 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.
GlobalDatas United States of America (USA) Cards and Payments - Opportunities and Risks to 2025 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 countrys 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 countrys 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.
Summary
GlobalDatas 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 countrys competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalDatas 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.
GlobalDatas United States of America (USA) Cards and Payments - Opportunities and Risks to 2025 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 countrys 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 countrys 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.
TABLE OF CONTENTS
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
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