Credit Cards Continue Dominance Over Debit Cards and Cash, The Nilson Report Releases Annual Summary of U.S. Payment Systems

Share Article

Payments for goods and services are broken down by credit and debit card, cash, and electronic payments.

Share of transactions on each of the payment methods

Number of transactions per payment method.

“Our model measures the payment instruments consumers use to make Personal Consumption Expenditures calculated by the U.S. Bureau of Economic Analysis,” said David Robertson, publisher of The Nilson Report.

Credit cards continued to gain share against all other forms of payment in the U.S. in 2015. The Nilson Report, the leading card and mobile payment trade publication, measured 11 methods of consumer payments in the U.S.

“Our model measures the payment instruments consumers use to make Personal Consumption Expenditures calculated by the U.S. Bureau of Economic Analysis,” said David Robertson, publisher of The Nilson Report.

Purchases of goods and services totaled $9.550 trillion in 2015, up 3.4% over 2014. The four card-based methods of payment of credit, debit, prepaid, and electronic benefits transfer generated $5.665 trillion in purchases or 59.32% of all consumer payment systems volume.

Credit cards accounted for $2.932 billion, 30.70% of volume. Debit cards accounted for $2.420, 25.34% of volume. Card-based volume is expected to increase every year through 2020, when these methods collectively are projected to account for 69.69%.

The paper-based methods of cash, checks, money orders, travelers cheques, and official checks generated $2.496 trillion or 26.14% of all consumer payment systems volume. Paper-based market volume share fell from 28.20% in 2014, and is projected to be 16.85% by 2020.

The two electronic-based systems are remote and preauthorized payments. In 2015, these generated $1.389 trillion or 14.54% of all consumer payment systems volume.

About The Nilson Report
The Nilson Report, in its 46th year of publication, is the most respected source of news and analysis of the global card and mobile payment industries. We do not accept paid advertising of any kind. There are no advertisements, no articles written by vendors, and no sponsored content. The by-subscription-only newsletter provides credit, debit, and prepaid card issuer, acquirer, and vendor statistics not found in any other trade journal, as well as concise technology, personnel, and product news and updates.

The full report, U.S. Consumer Payment Systems, is available by downloading the current issue of The Nilson Report.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Lori Fulmer
Visit website