US Cards and Payments: Contact less credit cards are gateway to future

Posted on 2019-10-18 by Mark Hub in Retail // 0 Comments

Albany, USA, 2019-Oct-18 — /EPR Network/ —

Major card markets such as US have witnessed growing tendency towards real-time payments that possess the potential to emerge as viable alternatives to cards. Innovative solutions have dominated fintech and disrupted payment value chain, generating opportunities for future. Digitization in daily life have increased the significance and usage of phones and other connected devices as payment tools, increasing digital payments volume. Non cash payments have accelerated the power dynamics in direction of digital providers. Chat bots payments and mobile in-store payments have made payment seamless, allowing relationship building and increase in variety of services. An intelligence report titled, “US Cards and Payments: Opportunities and Risks to 2023 (including banking and Payments Survey insights)” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository

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UX plays pivotal role

US cards and payments future is guided by the growing trends in payment sector. User experience is expected to shape up as the prime competitive differentiator in the payments ecosystem. Improved user-service provider interaction will aid service providers in rolling out better features. Open banking and APIs have incremented developer indulgence in achieving innovative milestones and solutions simplifying the payment value chain.

Consumer rewards satisfying customer lifestyle needs, rule the card segment. Rewards facilitate card companies with competitive edge in market. Banks and fintech are setting trends and generating opportunities. Technology aids bank’s brand recognition, playing pivotal role in card selection by the consumer. Banks have personalized technology to expand their customer base. Bilateral payment networks in reality have empowered every customer with the agility to transact with any device. Mode of transaction drives the customer base.

Co-branded credit cards trend

Co-branded credit cards offer ample opportunities for US cards and payments. Retailers such as Starbucks and Ikea reward consumer with greater shopping experience. Contactless credit cards hold the future for they are easy and quick to use.

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Cashless transaction brings data security in priority. Loss of cards, contact and identity is a growing challenge. Contactless credit cards have dual effects; increased convince and greater card theft risk. Absence of any Input makes contact less cards more susceptible to fraudulent use.

US cards and payments: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the US cards and payments. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the US cards and payments. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on US cards and payments.

An insightful and deep-dive assessment of the competitive assessment of the US cards and payments pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the US cards and payments. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

US cards and payments: Research Methodology

Primary sources and secondary sources propel intelligence report on US cards and payments that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.

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