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Country Report

Financial Cards and Payments in

Financial Cards and Payments in the US

50 pages, Oct 2017

US$2,100

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Executive Summary

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Cash loses favour to cards

With the lone exception of charge cards, unduly affected by its loss of exclusive acceptance at Costco, all types of financial cards in the US are experiencing growth, be it in card circulation, transaction, or value terms. Assisted by continued growth in local consumer expenditure, cards have flourished in the US for their ease of use, widespread acceptance, rewarding value, relative security and financial flexibility.

Cost-conscious retailer asserts influence

When the largest wholesale club retailer, Costco, terminated its exclusive acceptance of American Express operated cards in June 2016 in favour of Visa, the message was clear: costs matter. Known for cutting costs and passing savings onto consumers through lower prices, Costco deemed the high merchant fees that American Express imposed, excessive.

Rewarding payments

Reward schemes on financial cards reached new heights in 2016 and 2017. JP Morgan Chase & Co encroached on the affluent card member base of American Express with the launch of the Chase Sapphire Reserve, laden with a hefty 100,000 point sign-up bonus among other perks.

“Fintech” both complements and threatens financial cards

Financial technology (fintech) companies further complicated the outlook of financial cards in 2017, with some developments positioned to compete directly with existing financial cards, while others looked to work with the existing status quo. Whereas peer-to-peer (P2P) payment systems have spared financial cards to date, recent integration between these services and merchants has shown the potential for fintech to sidestep traditional card operators, issuers and processors entirely.

Financial cards will be preferred future payment method

Financial cards have undoubtedly played an immense role in US consumer payments over the past several decades, though only recently growing to comprise over half of US consumer payment transactions. Their prominence will only be reaffirmed by attaining a majority position of the payment landscape in value terms during the forecast period.

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Overview

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in USA with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in USA, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in USA market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in USA?
What are the major operators and issuers in USA?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in USA, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in the US - Industry Overview

EXECUTIVE SUMMARY

Cash loses favour to cards

Cost-conscious retailer asserts influence

Rewarding payments

“Fintech” both complements and threatens financial cards

Financial cards will be preferred future payment method

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2012-2017
Table 2 Number of ATMs: Units 2012-2017
Table 3 Value Lost to Fraud 2012-2017
Table 4 Card Expenditure by Location 2017
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2012-2017
Table 6 Domestic versus Foreign Spend 2017

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2012-2017
Table 8 Financial Cards by Category: Number of Accounts 2012-2017
Table 9 Financial Cards Transactions by Category: Value 2012-2017
Table 10 Financial Cards by Category: Number of Transactions 2012-2017
Table 11 Consumer Payments by Category: Value 2012-2017
Table 12 Consumer Payments by Category: Number of Transactions 2012-2017
Table 13 M-Commerce by Category: Value 2013-2017
Table 14 M-Commerce by Category: % Value Growth 2013-2017
Table 15 Financial Cards: Number of Cards by Issuer 2012-2016
Table 16 Financial Cards: Number of Cards by Operator 2012-2016
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2012-2016
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2012-2016
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2017-2022
Table 20 Forecast Financial Cards by Category: Number of Accounts 2017-2022
Table 21 Forecast Financial Cards Transactions by Category: Value 2017-2022
Table 22 Forecast Financial Cards by Category: Number of Transactions 2017-2022
Table 23 Forecast Consumer Payments by Category: Value 2017-2022
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2017-2022
Table 25 Forecast M-Commerce by Category: Value 2017-2022
Table 26 Forecast M-Commerce by Category: % Value Growth 2017-2022

SOURCES

Summary 1 Research Sources

Charge Cards in the US - Category analysis

HEADLINES

PROSPECTS

Challenging times for charge cards

Positive predictions amidst unstable environment

Charging less

COMPETITIVE LANDSCAPE

High fees cost American Express

The platinum appeal

CATEGORY DATA

Table 27 Charge Cards: Number of Cards in Circulation 2012-2017
Table 28 Charge Cards Transactions 2012-2017
Table 29 Charge Cards in Circulation: % Growth 2012-2017
Table 30 Charge Cards Transactions: % Growth 2012-2017
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2012-2017
Table 32 Commercial Charge Cards Transactions 2012-2017
Table 33 Commercial Charge Cards in Circulation: % Growth 2012-2017
Table 34 Commercial Charge Cards Transactions: % Growth 2012-2017
Table 35 Personal Charge Cards: Number of Cards in Circulation 2012-2017
Table 36 Personal Charge Cards Transactions 2012-2017
Table 37 Personal Charge Cards in Circulation: % Growth 2012-2017
Table 38 Personal Charge Cards Transactions: % Growth 2012-2017
Table 39 Charge Cards: Number of Cards by Issuer 2012-2016
Table 40 Charge Cards: Number of Cards by Operator 2012-2016
Table 41 Charge Cards Payment Transaction Value by Issuer 2012-2016
Table 42 Charge Cards Payment Transaction Value by Operator 2012-2016
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2012-2016
Table 44 Commercial Charge Cards: Number of Cards by Operator 2012-2016
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2012-2016
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2012-2016
Table 47 Personal Charge Cards: Number of Cards by Issuer 2012-2016
Table 48 Personal Charge Cards: Number of Cards by Operator 2012-2016
Table 49 Personal Charge Cards Transaction Value by Issuer 2012-2016
Table 50 Personal Charge Cards Transaction Value by Operator 2012-2016
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2017-2022
Table 52 Forecast Charge Cards Transactions 2017-2022
Table 53 Forecast Charge Cards in Circulation: % Growth 2017-2022
Table 54 Forecast Charge Cards Transactions: % Growth 2017-2022
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2017-2022
Table 56 Forecast Commercial Charge Cards Transactions 2017-2022
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2017-2022
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2017-2022
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2017-2022
Table 60 Forecast Personal Charge Cards Transactions 2017-2022
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2017-2022
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2017-2022

Credit Cards in the US - Category analysis

HEADLINES

PROSPECTS

Small purchases now welcome

Metal is the new plastic

Personally, it just is not in the cards

COMPETITIVE LANDSCAPE

JP Morgan upsets card payments landscape

Competitors rally to head off latest super-premium launch

Costco cuts costs, contracting Citigroup

CATEGORY DATA

Table 63 Credit Cards: Number of Cards in Circulation 2012-2017
Table 64 Credit Cards Transactions 2012-2017
Table 65 Credit Cards in Circulation: % Growth 2012-2017
Table 66 Credit Cards Transactions: % Growth 2012-2017
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2012-2017
Table 68 Commercial Credit Cards Transactions 2012-2017
Table 69 Commercial Credit Cards in Circulation: % Growth 2012-2017
Table 70 Commercial Credit Cards Transactions: % Growth 2012-2017
Table 71 Personal Credit Cards: Number of Cards in Circulation 2012-2017
Table 72 Personal Credit Cards Transactions 2012-2017
Table 73 Personal Credit Cards in Circulation: % Growth 2012-2017
Table 74 Personal Credit Cards Transactions: % Growth 2012-2017
Table 75 Credit Cards: Number of Cards by Issuer 2012-2016
Table 76 Credit Cards: Number of Cards by Operator 2012-2016
Table 77 Credit Cards Payment Transaction Value by Issuer 2012-2016
Table 78 Credit Cards Payment Transaction Value by Operator 2012-2016
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2012-2016
Table 80 Commercial Credit Cards: Number of Cards by Operator 2012-2016
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2012-2016
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2012-2016
Table 83 Personal Credit Cards: Number of Cards by Issuer 2012-2016
Table 84 Personal Credit Cards: Number of Cards by Operator 2012-2016
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2012-2016
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2012-2016
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2017-2022
Table 88 Forecast Credit Cards Transactions 2017-2022
Table 89 Forecast Credit Cards in Circulation: % Growth 2017-2022
Table 90 Forecast Credit Cards Transactions: % Growth 2017-2022
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2017-2022
Table 92 Forecast Commercial Credit Cards Transactions 2017-2022
Table 93 Forecast Commercial Credit Cards Transactions: % Growth 2017-2022
Table 94 Forecast Personal Credit Cards: Number of Cards in Circulation 2017-2022
Table 95 Forecast Personal Credit Cards Transactions 2017-2022
Table 96 Forecast Personal Credit Cards in Circulation: % Growth 2017-2022
Table 97 Forecast Personal Credit Cards Transactions: % Growth 2017-2022

Debit Cards in the US - Category analysis

HEADLINES

PROSPECTS

Debit’s peace of mind appreciated by consumers

Support for small retailers

Bonuses for current account users

COMPETITIVE LANDSCAPE

Despite negative press, Wells Fargo retains lead

Peer-to-peer: A positive or negative factor in payments?

CATEGORY DATA

Table 98 Debit Cards: Number of Cards in Circulation 2012-2017
Table 99 Debit Cards Transactions 2012-2017
Table 100 Debit Cards in Circulation: % Growth 2012-2017
Table 101 Debit Cards Transactions: % Growth 2012-2017
Table 102 Debit Cards: Number of Cards by Issuer 2012-2016
Table 103 Debit Cards: Number of Cards by Operator 2012-2016
Table 104 Debit Cards Payment Transaction Value by Issuer 2012-2016
Table 105 Debit Cards Payment Transaction Value by Operator 2012-2016
Table 106 Forecast Debit Cards: Number of Cards in Circulation 2017-2022
Table 107 Forecast Debit Cards Transactions 2017-2022
Table 108 Forecast Debit Cards in Circulation: % Growth 2017-2022
Table 109 Forecast Debit Cards Transactions: % Growth 2017-2022

Pre-Paid Cards in the US - Category analysis

HEADLINES

PROSPECTS

Banking on open opportunities

Closing in on loyalty

Drafted regulations for overdraft protections

COMPETITIVE LANDSCAPE

Lucrative government contracts

Pre-paid consolidation

CATEGORY DATA

Table 110 Pre-paid Cards: Number of Cards in Circulation 2012-2017
Table 111 Pre-paid Cards Transactions 2012-2017
Table 112 Pre-paid Cards in Circulation: % Growth 2012-2017
Table 113 Pre-paid Cards Transactions: % Growth 2012-2017
Table 114 Closed Loop Pre-paid Cards Transactions 2012-2017
Table 115 Closed Loop Pre-paid Cards Transactions: % Growth 2012-2017
Table 116 Open Loop Pre-paid Cards Transactions 2012-2017
Table 117 Open Loop Pre-paid Cards Transactions: % Growth 2012-2017
Table 118 Pre-paid Cards: Number of Cards by Operator 2012-2016
Table 119 Pre-paid Cards Transaction Value by Operator 2012-2016
Table 120 Open Loop Pre-paid Cards: Number of Cards by Operator 2012-2016
Table 121 Open Loop Pre-paid Cards Transaction Value by Operator 2012-2016
Table 122 Forecast Pre-paid Cards: Number of Cards in Circulation 2017-2022
Table 123 Forecast Pre-paid Cards Transactions 2017-2022
Table 124 Forecast Pre-paid Cards in Circulation: % Growth 2017-2022
Table 125 Forecast Pre-paid Cards Transactions: % Growth 2017-2022
Table 126 Forecast Closed Loop Pre-paid Cards Transactions 2017-2022
Table 127 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2017-2022
Table 128 Forecast Open Loop Pre-paid Cards Transactions 2017-2022
Table 129 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2017-2022

Store Cards in the US - Category analysis

HEADLINES

PROSPECTS

Equifax breach could hamper store card account growth

Loyalty and rewards also important strategies for store cards

Co-branding becoming increasingly common tactic

COMPETITIVE LANDSCAPE

Synchrony continues to lead card issuers

Technology helps give card issuers an edge

CATEGORY DATA

Table 130 Store Cards: Number of Cards in Circulation 2012-2017
Table 131 Store Cards Transactions 2012-2017
Table 132 Store Cards in Circulation: % Growth 2012-2017
Table 133 Store Cards Transactions: % Growth 2012-2017
Table 134 Store Cards: Number of Cards by Issuer 2012-2016
Table 135 Store Cards: Payment Transaction Value by Issuer 2012-2016
Table 136 Forecast Store Cards: Number of Cards in Circulation 2017-2022
Table 137 Forecast Store Cards Transactions 2017-2022
Table 138 Forecast Store Cards in Circulation: % Growth 2017-2022
Table 139 Forecast Store Cards Transactions: % Growth 2017-2022

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Megatrends

Country Report

Financial Cards and Payments in the US

New Report Guarantee

Executive Summary

New Report Guarantee

Cash loses favour to cards

Cost-conscious retailer asserts influence

Rewarding payments

“Fintech” both complements and threatens financial cards

Financial cards will be preferred future payment method

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in the US - Industry Overview

EXECUTIVE SUMMARY

Cash loses favour to cards

Cost-conscious retailer asserts influence

Rewarding payments

“Fintech” both complements and threatens financial cards

Financial cards will be preferred future payment method

MARKET INDICATORS

MARKET DATA

SOURCES

Charge Cards in the US - Category analysis

HEADLINES

PROSPECTS

Challenging times for charge cards

Positive predictions amidst unstable environment

Charging less

COMPETITIVE LANDSCAPE

High fees cost American Express

The platinum appeal

CATEGORY DATA

Credit Cards in the US - Category analysis

HEADLINES

PROSPECTS

Small purchases now welcome

Metal is the new plastic

Personally, it just is not in the cards

COMPETITIVE LANDSCAPE

JP Morgan upsets card payments landscape

Competitors rally to head off latest super-premium launch

Costco cuts costs, contracting Citigroup

CATEGORY DATA

Debit Cards in the US - Category analysis

HEADLINES

PROSPECTS

Debit’s peace of mind appreciated by consumers

Support for small retailers

Bonuses for current account users

COMPETITIVE LANDSCAPE

Despite negative press, Wells Fargo retains lead

Peer-to-peer: A positive or negative factor in payments?

CATEGORY DATA

Pre-Paid Cards in the US - Category analysis

HEADLINES

PROSPECTS

Banking on open opportunities

Closing in on loyalty

Drafted regulations for overdraft protections

COMPETITIVE LANDSCAPE

Lucrative government contracts

Pre-paid consolidation

CATEGORY DATA

Store Cards in the US - Category analysis

HEADLINES

PROSPECTS

Equifax breach could hamper store card account growth

Loyalty and rewards also important strategies for store cards

Co-branding becoming increasingly common tactic

COMPETITIVE LANDSCAPE

Synchrony continues to lead card issuers

Technology helps give card issuers an edge

CATEGORY DATA

Why buy this report?

Want to find out more about this report?

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