2020 Annual U.S. Debit Card Market Data Review: What the Future May Hold for Debit Card Issuers and Cardholders in the U.S. - ResearchAndMarkets.com

The "2020 Annual U.S. Debit Card Market Data Review" report has been added to ResearchAndMarkets.com's offering.

Debit card activity in the United States was very brisk in 2019, posting strong growth, but the future growth of debit cards and how they will be used will change materially as the economy is altered by the impacts of the global novel coronavirus pandemic. This latest research report, 2020 Annual U.S. Debit Card Market Data Review, presents data on how the market was progressing and what the future may hold for debit card issuers and cardholders.

"Use of debit cards now and in the near term will be slowed the most by historically high unemployment, which affects typical debit card users, who make less than $75,000 annually on average, and by the closure of all but essential retailers. Offsetting this is the trend seen in the past of consumers favoring debit during recessionary periods" commented Sarah Grotta, Director, Debit and Alternative Products Advisory Service, author of the report.

Highlights of the report include:

• Review of debit card transaction and dollar volume growth trends in past years.
• Forecasts of debit growth through 2022 in light of a brisk U-shaped recovery or an extended recessionary period.
• Discussion of how the pandemic has is jolting and shaking loose old payment habits and is likely to be positive for the use of debit in remote channels and create interest in contactless payments.
• The role that ATMs have played during the pandemic.
• Suggestions for what issuers can do to help debit cardholders now, including options for instant issue, promotion of digital support apps like card controls, and altering debit rewards to be most relevant to current needs.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. The Macroeconomic Backdrop That Foretells the Future of Debit Cards

• The Consequences of COVID-19 on the Typical Debit User

4. Contactless and Touchless Debit Card Transactions at the Point of Sale

5. Debit Cards, Cash Use, and ATM Habits Are Changing

6. Conclusions: How Financial Institutions Can Help Debit Cardholders Now

7. References

Figures

Figure 1: The US economic crisis in 2020 will have far-reaching impact to debit card transaction volumes

Figure 2: The steady growth of debit transactions dollar volumes is forecasted to flatten due to pressures from the pandemic

Figure 3: Non-Prepaid debit cards achieved good growth, and Visa continues to dominate the market

Figure 4: The greatest number of debit card users are older and have a lower income than average

Figure 5: Recent news regarding the growth of contactless card use in the US

Figure 6: Most Americans are using ATMs to withdraw cash once a month or more Deposits less popular

Figure 7: The most common cardless ATM authentication options available

Figure 8: Consumer interest in using debit card controls increases to new highs

Figure 9: Debit card rewards are gaining popularity again

Companies Mentioned

• Amazon
• Mastercard
• Visa

For more information about this report visit https://www.researchandmarkets.com/r/ltmka6

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