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    Home ICT IoT US Payment Card Market Size and Applications by 2025

    US Payment Card Market Size By Type (Contact, Contactless and Dual Interface), and Forecast 2018 to 2025

    Sep 26 2018 Total Pages: 90

    The U.S. payment card market size was estimated to be USD 934.3 million in 2017. Technological advancements, improvement in security and standardization by regulatory authority are some of the major factors due to which the U.S. payment card market is expected to grow over the forecast period.

                                             U.S. Payment Card Market Revenue, 2015-2025 (USD Million)

    U.S. Payment Card Market Revenue, 2015-2025 (USD Million)

    U.S. has the world’s largest user base of magnetic stripe cards and was the last developed country to adopt EMV cards. Increase in the number of magnetic card frauds such as theft, card cloning and ATM machine frauds were rising exponentially over the years. The robust fraud prevention system of the U.S. government was falling short to solve the situation and had an only option of implementing EMV standards. Meanwhile, EMV cards had been successful in reducing the number of frauds across Europe and Asia Pacific as it added tokenization to the security layer. Replicating this trend, the U.S. payment card market is expected to witness significant growth over the forecast period.

    One of the reasons the U.S. had not adopted EMV cards was its robust fraud prevention system. On the other hand, the lack of such a strong system was the reason for other countries to adopt microchip cards. The U.S. has always had real-time transaction logs which means the card information is immediately sent by the merchant to the issuer for verification, whereas, in other countries, the data was stored by the merchant during the day and sent for verification the next day. Consequently, fraudsters had more time to commit unauthorized transactions.

    The EMV cards which requires personal identification number PIN at the time of transactions offer more security compared to magnetic stripe cards transactions that are authenticated by visual inspection and card holder’s signature. The magnetic stripe card can be cloned and the data from the card can be easily stolen by using card readers which are easily available in the market. However, the chip in EMV cards cannot be cloned and the data stored in it is safe. The PIN adds another level of security and makes it difficult for the fraudsters to make the transaction.

    The U.S. government’s initiatives to shift from cash to cashless is one of the major factors to drive the growth of payment cards. For instance, according to the Bank for International Settlements, in 2015, North America dominated the overall market in the number of non-cash transaction by contributing around 34%. The non-cash transactions include payment cards, cheques, mobile wallets and online payments. Such a shift is expected to drive the U.S. payment card market during the forecast period.

    The advancement in technology has changed the way payments were made using microchip cards. The new and emerging technology known as near field communication (NFC) has enabled contactless payment through mobile phones and wearables such as smartwatches, rings, jewelry and other accessories. The transaction is completed conveniently by holding the devices near the payment terminal. As the technology is new and emerging, most of the devices which are to be launched in the coming years will be embedded with a chip and NFC technology. As a result of this, the growth of U.S. payment card market is expected to hinder in the coming years.

    The contact-based payment card dominated the U.S. payment card market in 2017 and is expected to maintain its position over the forecast period. Majority of the U.S. citizens use contact-based traditional and EMV smart cards to complete the transaction. As the chip card requires a PIN to authenticate the transactions, it is the most preferred type of card. Moreover, most of the business and commercial transactions are done using contact-based credit and debit cards as they require personal identification number to complete the transaction. The data stored on these EMV cards is impossible to clone thus reducing the number of frauds occurring by data theft. The segment is anticipated to witness a revenue growth at a CAGR of 6.7% over the forecast period.

    The U.S. payment card market is witnessing a strong growth as people are adopting and shifting towards the digital and cashless economy. Moreover, companies are innovating new products and services with improved security features in the financial industry which is further increasing the penetration of payment cards in the market. For instance, in August 2014, Oberthur technologies acquired Nagra ID, a player that develops and markets powered cards which offer secure access to the cloud. They developed cards with interactive keypads with digital displays on the front and back side of the card. The front displays the OTP while the back displays dynamically-generated CVV. Major players in the U.S. payment card market include 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.

    Key Segments of the U.S. Payment Card Market

    Type Overview, 2015-2025 (USD Million) (Million Units)

    • Contact
    • Contactless
    • Dual Interface

    Reasons for the study

    • The study assesses the dynamics and movement of the U.S. payment card market
    • While studying the payment card market, we observed that contactless smart cards was gaining tremendous popularity due to its easy and convenient use
    • The top three well established players occupy major market share and have their presence across the globe. The companies, as a strategic step planning to enter untapped market in the coming years

    What does the report include?

    • The study on the U.S. payment card market includes qualitative factors such as drivers, and restraints
    • Additionally, the market has been evaluated using the value chain and Porter’s Five Forces’ analysis
    • The study covers qualitative and quantitative analysis of the market segmented on the basis of product type.
    • Actual market sizes and forecasts have been provided for all the above-mentioned segments
    • The study includes the profiles of key players in the market with a significant global and/or regional presence

    Who should buy this report?

    • The report on the U.S. payment card market is suitable for all the players across the value chain including raw material suppliers, smart card manufactures and banking and financial industries
    • Venture capitalists and investors looking for more information on the future outlook of the U.S. payment card market
    • Consultants, analysts, researcher, and academicians looking for insights shaping the U.S. payment card market

    1. Executive Summary

    2. Research Methodology

    • Research approach
    • Scope, definition, and assumptions
    • Data sources

    3. Market Outlook

    • Introduction
    • Key trends
    • Market drivers
    • Market restraints
    • Porter’s Five Forces’ analysis
    • Value chain analysis

    4. Payment Card Market Overview, By Type

    • U.S. payment card market share, by type , 2017 & 2025
    • Contact
    • Market size and projections, 2015-2025 (USD Million) (Million Units)
    • Contactless
    • Market size and projections, 2015-2025 (USD Million) (Million Units)
    • Dual Interface
    • Market size and projections, 2015-2025 (USD Million) (Million Units)

    5. Company ProfilesPerfect Plastic Printing

    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • Oberthur Technologies
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • Gemalto
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • CPI Card Group
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • Giesecke & Devrient
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • Valid USA, Inc.
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • Goldpac Group Ltd
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • MCT Cards & Technology Pvt. Ltd
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • dz card
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives
    • CardLogix Corporation
    • Company overview
    • Product offerings
    • Financial performance
    • Recent initiatives

    List of Tables

    1. International standards for EMV cards

    List of Figures

    1. Global payment card frauds, 2010 – 2015 (USD Billion)
    2. U.S. fraud loss by value of payments, by type (USD Billion)
    3. Worldwide Non-cash transactions, 2015 (In %)
    4. Value chain of payment cards
    5. Porter’s Five Forces analysis
    6. U.S. payment cards market share, by type, 2017 & 2025 (USD Million)
    7. U.S. payment cards market share, by type, 2017 & 2025 (Million Units)
    8. U.S. contact-based payment cards market, 2015 to 2025 (USD Million) (Million Units)
    9. U.S. contactless payment cards market, 2015 to 2025 (USD Million) (million units)
    10. U.S. dual interface payment cards market, 2015 to 2025 (USD Million) (Million Units)


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