Change in payment preferences of consumers who moved away from checks, cash and credit cards

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DUBLIN, August 9, 2021 / PRNewswire / – The report “Annual Review of US Debit Card Market Data 2021: Unprecedented Double-Digit Growth” has been added to ResearchAndMarkets.com offer.

The dollar volume spent on debit cards in the United States rose 14% due to generous government benefits and a shift in payment preferences of consumers who turned away from checks, cash and debit cards. credit. This and other aspects of the current debit card market are examined in this report.

“The last year has seen a unique environment in the market where consumers have strongly shifted their payments towards using debit cards and because part of this shift has come at the expense of credit cards, this has been positive for debit issuers and, at the same time, positive for merchants, as credit card transactions are almost always more expensive to process than debit cards.,“comments Sarah grotta, Director, Debit Advisory Service and Alternative Products and author of the report.

Highlights of the report include:

  • Historical overview of debit card purchase volumes and transaction totals for 2015-2020
  • Comparison of debit growth with recent decline in credit card use
  • Continued growth in card accounts driven in part by new and challenger banks
  • Growth in card not present activity
  • Commentary on the use of contactless
  • A three-year forecast of the projected growth in flow and short-term influences that affect the forecast
  • Where issuers are focusing their current investments on debit.

Main topics covered:

  • Summary
  • introduction
  • 2020, the year that was
  • 2021 and beyond
  • Where debit issuers spend their resources
  • Conclusion

Companies mentioned

  • MasterCard
  • Impulse
  • Star
  • Visa

For more information on this report, visit https://www.researchandmarkets.com/r/w6pg9s

Media contact:

Research and markets
Laura Wood, senior
[email protected]

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SOURCE Research and Markets

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