Payments Landscape in the US: Opportunities and Risks to 2021
- October 2017
- Financial Services
- 53 pages
GlobalDatas "Payments Landscape in the US: Opportunities and Risks to 2021", 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 credit transfers, direct debit, cash, payment cards, and cheques during the review-period (2013-17e).
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 (2017-21f). It also offers information on the country's 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.
This 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 credit transfers, direct debit, cheques, cash, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- 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.
- Competition in the US alternative payments market increased following the launch of Apple Pay, Samsung Pay, and Android Pay. Most recently, Alibaba collaborated with payment processor First Data to introduce its mobile payment service Alipay in May 2017. The service is accepted by over 4 million merchants in the US. Banks, card issuers, and retailers are also launching proprietary solutions to compete in the market. For instance, JPMorgan Chase offers Chase Pay, Walmart launched Walmart Pay in July 2016, Capital One and Wells Fargo launched the digital Capital One wallet in 2014, while Wells Fargo launched its own wallet in May 2016.
- To develop a fast payment system in the US, in May 2015 the Federal Reserve established a Faster Payments Task Force that has been assigned the responsibility to categorize the goals and characteristics of effective faster payment solutions, assess approaches to accomplish these goals, and ensure implementation and acceptance of faster payment services by 2020. The first stride towards achieving these goals was the publication of Faster Payments Effectiveness Criteria in February 2016. The criteria act as a guideline to evaluate faster payment solution and support improvement in payments. In July 2017, the taskforce published its final report with recommendations for the provision of efficient and fast payment solutions in the US. The report also commands the payments industry to collaborate and transform this faster payments vision into a reality.
- To facilitate cross-border commerce, in June 2017 First Data launched Local Payments Solution. The solution supports consumers choice of payment for purchases made, irrespective of their geographical location and currency, as it combines various online payment methods into a single interface, thus helping merchants manage and expedite cross-border payments. The payment methods aided by Local Payment Solution include real-time online banking, direct debit, cash/voucher payments, and digital wallets. Through the solution online businesses can access 195 local payment options.
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.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Financial Services
Financial ServicesChina Mobile Ad Spending Market Research Report 2017
Financial ServicesEurope Mobile Ad Spending Market Report 2017
Financial ServicesGlobal Mobile Ad Spending Sales Market Report 2017
Financial ServicesGlobal Luxury Travel Market Research Report 2017
Financial ServicesConsumers And The Economic Outlook - US - January 2020