Credit Card Processing & Money Transferring in the US - Industry Market Research Report

Credit Card Processing & Money Transferring in the US - Industry Market Research Report

Credit Card Processing & Money Transferring in the US

The Credit Card Processing and Money Transferring industry offers financial transaction processing, reserve and clearinghouse services. The industry generates its revenue through processing and transaction fees via credit and debit card purchases. The value of credit card transactions determines the fees processors collect from merchants. Rising consumer spending over most of the past five years has largely supported growth. More notably, processors have reaped the benefits of the large-scale application of electronic payment technology and growing e-commerce during the five-year period. The adoption of electronic payments was accelerated by the coronavirus, which shifted consumers toward online shopping platforms following lockdown measures. At the same time, merchants adopted contactless payment alternatives to encourage low-touch payments. Industry revenue has increased at a CAGR of 5.2% to $127.7 billion over the past five years, including an increase of 3.1% in 2023 alone.

This industry offers financial transaction processing, reserve and liquidity services and check or other financial instrument clearinghouse services. The industry excludes electronic transactions associated with the US Federal Reserve.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.