The US card payments channel registered marginal growth during the period 2008-2012. The nation’s positive economic outlook, need for more sophisticated prepaid and charge card products, popularity of online and mobile shopping, and an increase in per capita income supported the growth.
During this period, the channel’s market size increased at a CAGR of 1.79% in volume terms to reach 1.5 billion cards in circulation in 2012 In value terms, the channel valued US$4.9 trillion in 2012. The US card payments channel grew both in volume and value terms during the review period. In terms of transaction volume, the channel grew at a review-period CAGR of 1.79% from 1.4 billion transactions in 2008 to 1.5 billion in 2012. [Read more…]