Financial Transaction Processing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 11/5/2018
SIC Codes: 6153, 7389
NAICS Codes: 52232
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Financial Transaction Processing Industry Profile

Companies in this industry provide services such as credit card processing, electronic funds transfer, and check clearing. Major companies include Alliance Data Systems, First Data, Global Payments, Heartland Payment Systems, MasterCard, Visa, and Western Union (all based in the US), as well as China UnionPay (China), Cielo (Brazil), and Moneris Solutions (Canada).

Worldwide, markets with strong growth in payment services include Europe, the Asia/Pacific region, and South America. Many large credit card processors operate and maintain processing centers globally. About half of all credit card transactions occur in the US and Canada; about 25% of transactions are in Europe and 20% in the Asia/Pacific region, according to The Nilson Report. More than 10 billion credit, debit, and prepaid cards are in circulation around the world.

The US financial transaction processing industry includes about 4,600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $65 billion.

COMPETITIVE LANDSCAPE

Technology is transforming the financial transaction processing industry and consumers' interactions with money. While cash remains a mainstream form of payment -- especially for low-value purchases -- digital and mobile payments are on the rise. Digital payment transactions are expected to reach 726 billion by 2020, according to a study by Capgemini and BNP Paribas. Checks appear to be on the way out.

In recent years, the financial transaction processing industry has come under increasing pressure from fast-growing financial technology (aka fintech) ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Financial Transaction Processing that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options