DUBLIN, June 14, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "U.S. Cards and Payments Market - Size, Share, Development, Growth and Forecast to 2020" report to their offering.

In terms of number of cards in circulation, the US payment cards market grew at a CAGR of 4.5% during the period 2012-2014 and it is expected to further grow at a CAGR of 1.3% over the period 2015-2020.

The GDP per capita of US increased from USD 51,384 in 2012 to USD 54,369.8 in 2014. The GDP per capita is likely to increase further and reach USD 67,064.3 in 2020. This increase is expected to result in increased cards usage over the forecast period. Also the US population grew from 314.4 million in 2012 to 319 million in 2014, and is expected to reach 332.4 million by 2020. This increase in population is expected to encourage card spending over the forecast period.

In US, the debit card segment dominates the payment cards market in terms of number of cards in circulation. Debit cards accounted for 53.2% of the total number of payment cards in circulation in 2014. The credit cards are primarily used by consumers at POS terminals for retail purchases, rather than for cash withdrawals at ATMs. The frequency of credit card use increased at a CAGR of 3.9% during 2012-2014. The frequency of transaction is expected to reach up to 54.6 times by 2020. Visa was the leading scheme in the credit card market in 2014. In US, the private-label credit cards are issued by Synchrony Bank, Comenity Bank, Citibank, Barclaycard, Citibank, U.S. Bank and TD Bank. Synchrony Bank is the market leader in private-label credit cards.

The volume of charge card transactions at POS terminals accounted for 99.3% of the total charge card transactions in 2014. The frequency of charge card use grew at a CAGR of 3.7% during 2012-2014. The frequency of transaction is expected to reach up to 68.9 times by 2020. The average charge card transaction value decreased from USD 108.7 in 2012 to USD 106 in 2014, at a CAGR of -1.2%. The average transaction value is anticipated to grow at a CAGR of 0.4% during the period 2015-2020.

Key players in the U.S. debit card market:

• Bank of America
• Wells Fargo
• JP Morgan Chase

Key players in the U.S. credit card market:

• American Express
• JPMorgan Chase
• Citibank
• Capital one
• Bank of America

Key Topics Covered:

1. Definitions

2. Research Methodology

3. Executive Summary

4. Key Industry Drivers

5. Payment Channels

6. Terminal Statistics

7. Payment Card Market Analysis

8. Debit Card Market Analysis

9. Credit Card Market Analysis

10. Charge Card Market Analysis

11. Card Fraud

12. Prepaid Card Market Analysis

13. Card Market by Customer Segments

14. Competitive Landscape

- American Express

- Bank of America

- Citibank

- JP Morgan Chase

- Wells Fargo

For more information visit http://www.researchandmarkets.com/research/7g6fxk/u_s_cards_and

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SOURCE Research and Markets