Consumer Payments in the U.S.: Trends Driving the Credit, Debit, and Prepaid Card Industries

Specific trends addressed both in macro and generational cohort specific terms include responses to debit card fees and debit card loyalty programs cancelled by issuers in the wake of debit interchange caps. Consumers have rejected new debit fees and as they have been deluged with credit card offers, they have quickly switched their product preference from debit to rejuvenated credit cards.

With household incomes declining even as healthcare costs and student loan debt are rising, the overall payments pie is shrinking, prompting payment providers to base profit growth strategies on taking market share from their competitors.

The overall economy will remain stalled until 2013 or 2014, and Millennials as the newest adult generational cohort have brought with them novel payment and channel preferences. This report guides issuers, retailers and marketers in optimizing the potency of each product differentiating feature, mastering new payment and communication channels, and building loyalty programs based on cost sharing with merchants to maintain or grow market share.

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US Prepaid Card Industries

Elizabeth Rowe is the managing director of Banking Research Associates, the independent research and consultancy firm focused on underbanked consumers and the consumer payments industry. Formerly, Elizabeth was Group Director of Banking Advisory Services at Mercator Advisory Group, a banking and payments consultancy. Prior to joining Mercator, she was the senior banking consultant at Guideline, Inc., a consultancy/business advisory firm. For the past 18 years, she has worked with the nation's largest banks, credit unions, retailers and solutions providers as they assess emerging consumer, technological, regulatory and competitive challenges, trends and opportunities. She has taught at the ABA School of Bank Card Management and frequently speaks at industry, federal regulator and client conferences. She has been widely quoted in the financial press including The Economist, The Wall Street Journal, American Banker, Forbes, Independent Banker and CNN.

Major points covered in Table of Contents of this report include:

EXECUTIVE SUMMARY

The Switch From Credit Cards to Debit Cards 
Consumers Now Switching From Debit to Credit 

Demographics of Cardholders by Generational Cohort 

The Marketing of Payment Products

Inter-Relationship of Payment-Related Behaviors

Relationship Among Payment Behaviors

Market Overview The American Consumer

The Switch from Credit Cards to Debit Cards

Explore Comprehensive list of more than Tables & Figures available in the report @ http://www.reportsnreports.com/reports/146883-consumer-payments-in-the-us-trends-driving-the-credit-debit-and-prepaid-card-industries.html

Report Details :
Published:  February 2012

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