Global US Payment Card Market 2018-2025 Status & Outlook: Insights by Types, Mode of payment, Technologies, Applications, Key Players & Predictions
Oct 9, 2018
The Global US Payment Card Market is growing with tremendous speed and strong CAGR. Browse 90 pages report & get well organized study of US Payment Card industry by Adroit Market Research. Contact-based credit and debit cards are most used mode of payment.
dallas, united states - October 9, 2018 /MarketersMedia/ —
As per report published by Adroit Market Research, the Global US Payment Card Market is growing with tremendous speed and strong CAGR. Browse 90 pages report and get well organized statistical overview of US Payment Card industry. Contact-based credit and debit cards dominates the US payment card industry.
The US Payment Card Market size is expected to grow from USD 934.3 million in 2017 to USD 4,133.7 million by 2025. The major factors that are driving the market are improvement in security, customer convenience, better financial services and standardization.
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The US Payment Card Market research report covers various qualitative and quantitative aspects including drivers, restraints, opportunities, estimates and forecast for types & applications and detailed profiles of leading players.
***The major players in the US Payment Card Market includes;
Perfect Plastic Printing,
Oberthur Technologies,
Gemalto,
CPI Card Group,
Giesecke & Devrient,
Valid USA, Inc.,
Goldpac Group Ltd,
MCT Cards & Technology Pvt. Ltd,
dz card and
CardLogix Corporation.
Payment cards such as EMV which offer chip & pin as a verification tool have helped in reducing the number of counterfeit frauds in the US The collaboration between government and industry players is also driving the market further by strengthening the security for transactions and implementing standardized products.
To deal with the rising number of frauds due to the use of magnetic stripe cards, the U.S government has started implementing microchip cards and also creating awareness about EMV card. For instance, the government of US, in October 2015, had taken key initiatives such as liability shift and BuySecure to implement the use of EMV cards due to which the US Payment Card Market is expected to grow further in the coming years.
Migration to EMV is likely to put the US and other countries (that have already adopted EMV standards) on a single global fraud protection standard and this will assist in the eventual withdrawal of magnetic stripe cards, thus, reducing the number of card frauds. In line with this, the players in the payment market are expected to benefit as they have to support only one set of technical standards in the value chain. This is expected to shift their focus on revenue-generating projects by offering better products & services driving the market growth further during the forecast period.
The contact-based payment card segment dominated the market by contributing USD 735.1 million in the year 2017. This trend is anticipated to continue over the forecast period as a majority of the US citizens prefer contact debit and credit cards for transactions. However, the contactless payment card is witnessing a rapid growth in adoption over the forecast period leveraged by the ease of use and higher speed of transaction.
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The major players in the US Payment Card Market are collaborating and coming up with new innovative products to sustain in the market. Moreover, some of the players are offering bio-metric payment cards that focus on increasing the security layer by inspecting who you are (fingerprint) rather than what you know (PIN) to ensure more security during transactions. For instance, in May 2018, MasterCard rolled out biometric cards. Similarly, in April 2018, Gemalto introduced contactless biometric cards.
Additionally, the payment card service providers are offering rewarding deals, added paybacks and collaborations with retail, fashion, hospitality giants for customer convenience in the US to increase the adoption of payment cards. For instance, in 2014, MasterCard collaborated with Dynamics Inc. to drive innovation in the US payment cards market. They had developed an interactive payment card which had inbuilt features such as displays and LEDs. This interactive card with its multiple application has the capability to store multiple cards in itself with a display key and keypad which were compatible with the existing POS terminals.
The US Payment Card Market is consolidated with a limited number of established players. The companies are focusing on enhancing the products offered by collaboration with technology companies. For instance, financial technology which aims to improve the traditional ways of financial services with new innovations and technology are expected to drive the demand for payment card market over the forecast period.
***Key Segments of the US Payment Card Market:
1] Type Overview
Contact
Contactless
Dual Interface
2] Key players analysed in US Payment Card Market
Perfect Plastic Printing
Oberthur Technologies
Gemalto, CPI Card Group
Giesecke & Devrient
Valid USA, Inc.
Goldpac Group Ltd
MCT Cards & Technology Pvt. Ltd
dz card
CardLogix Corporation
****Major Points from TOC of the US payment card industry report:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Research approach
Scope, definition, and assumptions
Data sources
Chapter 3. Market Outlook
Introduction
Key trends
Market drivers
Market restraints
Porter’s Five Forces’ analysis
Value chain analysis
Chapter 4. US Payment Card Market Overview, By Type
US payment card market share, by type , 2017 & 2025
Contact
Contactless
Dual Interface
Chapter 5. Company Profiles
….Continued
Browse Full Report @ https://www.adroitmarketresearch.com/industry-reports/us-payment-card-market
****List of Figures present in the global US payment card industry report:
Global payment card frauds, 2010 – 2015 (USD Billion)
US fraud loss by value of payments, by type (USD Billion)
Worldwide Non-cash transactions, 2015 (In %)
Value chain of payment cards
Porter’s Five Forces analysis
US payment cards market share, by type, 2017 & 2025 (USD Million)
US payment cards market share, by type, 2017 & 2025 (Million Units)
US contact-based payment cards market, 2015 to 2025 (USD Million) (Million Units)
US contactless payment cards market, 2015 to 2025 (USD Million) (million units)
US dual interface payment cards market, 2015 to 2025 (USD Million) (Million Units)
….Continued
About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Info:
Name: Ryan Johnson
Email: [email protected]
Organization: Adroit Market Research
For more information, please visit https://www.adroitmarketresearch.com/industry-reports/us-payment-card-market
Source: MarketersMedia
Release ID: 419714
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