04 November 2020 08:33
New York, Nov. 03, 2020 (GLOBE NEWSWIRE)--Reportlinker.com announces the release of the report "United States of America (USA) Cards and Payments - Opportunities and Risks to 2024" - It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, direct debits, cheques, and credit transfers during the review-period (2016-20e). The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes. The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
This report provides top-level market analysis, information and insights into the US cards and payments industry, including - - Current and forecast values for each market in the US cards and payments industry, including debit, credit and charge. - Detailed insights into payment instruments including cards, cash, direct debits, cheques, and credit transfers. It also, includes an overview of the country's key alternative payment instruments. - Analysis of various market drivers and regulations governing the US cards and payments industry. - Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- To promote electronic payments in the country, on August 5, 2019 the Federal Reserve Board announced that the country's federal reserve banks will develop a new instant payment system called FedNow. The new payment system will have a wider presence than others and will allow banks of every size in the country to provide instant payment services to their customers. The service will be available to both individuals and businesses and will allow a range of payments, including person-to-person, business-to-business, business-to-customer, customer-to-business, and government-to-person. The new payment system will operate 24 hours a day, seven days a week, 365 days a year, and the maximum limit will be $25,000 per transaction. - The proliferation of challenger banks will drive competition in the banking space, thus helping to boost debit card holding. In August 2019, new challenger bank Zenus Bank commenced its operations after receiving approval from the US regulatory authorities. Customers receive a digital version of a Visa or Mastercard debit card within 15 minutes of account opening. Germany-based digital bank N26 had 250,000 customers as of January 2020, after commencing its operations in the US from August 2019. - While US consumers have traditionally been credit card-reliant, the pandemic is changing consumer spending behavior as recession looms and unemployment grows. According to Visa, its credit card volumes declined by 21% in May 2020 year on year. The shift in consumer spending could drive away $100bn annually from credit cards to debit cards over time as per Visa. In May 2020, JPMorgan Chase revealed credit card spending fell by 40% during March and early April compared to 2019. - Make strategic business decisions, using top-level historic and forecast market data, related to the US cards and payments industry and each market within it. - Understand the key market trends and growth opportunities in the US cards and payments industry. - Assess the competitive dynamics in the US cards and payments industry. - Gain insights into marketing strategies used for various card types in the US. - Gain insights into key regulations governing the US cards and payments industry. Read the full report: ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. Four more years of Trump will deepen Africa's climate crisis, and give succour to autocrats. What would a Biden presidency change? US President Donald Trump's unpredictable and cavalier political style delights his supporters. Ethiopia and the US are close now, with Addis Ababa having gone as far as to allow the "embedding senior US government officials at key Ethiopian economic ministries and operations for a sustained period of time" in 2019, according to US Ambassador to Ethiopia Michael Raynor. READ OUR DOSSIER US-AFRICA RELATIONS From diplomacy, to democratic engagement, through support for the international architecture, debt relief and the warming climate, there are clear demarcations between the two candidates to be America's next president. Trump's government will pull out of the Paris Agreement on fighting climate change on 4 November, a day after the elections. For much of Africa this is not a future concern, the climate crisis is happening today. The Horn is struggling with huge locust invasions, flooding regularly strikes Nigeria and other countries in West Africa, while the South of the continent is getting drier and drier. READ MORE Kenya's economy weakened by the scourge of locusts, climate change The exit of the US from the Paris Agreement will remove $3bn of funding from programmes to fight the effects of a heating planet: but the real damage is to limit the incentives for other global players to follow through with reform. With large fossil fuel companies the major donors to the Republican party, and given Trump's packing of the US court system with climate sceptic judges, another four years would likely entrench this position. A city that wanted to sue oil companies for sea-level rises could find its claim arrive at the Supreme Court, where newly-arrived justice Amy Coney Barret – who believes climate change to be 'controversial' – ensures a conservative majority. A Joe Biden administration would be jeopardy of another kind: for the continent's oil producers. Large public spending on renewable energy – as promised under the Green New Deal, a centrepiece of Democrat policy proposals – would accelerate the downward trend in solar prices. Under Trump, the institutions of the 'globalists' – a loosely-defined grouping of people who see benefit in political organisation beyond national boundaries on issues like trade, health, security and climate – have been under attack. But there is also a pattern of opposition to African leaders of international institutions. The leaders of the African Development Bank (AfDB), the World Health Organisation (WHO), the International Criminal Court (ICC), and future leader of the World Trade Organisation (WTO) have all found themselves the target of US pushback. It is not a foregone conclusion that a Biden administration would reverse this hostility. Biden may also be able to push a different agenda at the World Bank, currently run by David Malpass, former chief economist at Bear Stearns, the failed US bank. The World Bank has been accused of dragging its feet on distributing much needed COVID-19 related aid, reports the US Centre For Global Development. "The next administration, regardless of who wins, needs to urgently address the debt crisis," says Judd Devermont, director of the Africa Program at the Center for Strategic and International Studies in Washington D.C. "The United States has been quick to blame Beijing for the region's woes, but Washington could be more insistent on longer debt moratoriums and generous bailouts, as well as flexible on Special Drawing Rights at the IMF." The same has happened across Africa. Trump has backed Egypt's President El-Sisi, calling him 'my favourite dictator' at a G7 meeting. For Matthew Page, a former US intelligence officer focused on Nigeria now at the Carnegie Endowment for International Peace, a Biden administration would create clear disincentives to repression. Page believes the tepid response by the US on the Lekki shooting is deliberate: "I am sure the Embassy or the Africa Bureau drafted a statement—even if it was quite anodyne—that was not released. "That is not to say that a Biden administration would see Nigeria as a pariah state, but that it would see soldiers killing peaceful protesters as utterly unacceptable and likely would take tangible diplomatic and policy actions to make that clear", says Page. For some former US officials, Trump's Africa policy is not as bad as it looks. Former Nigerian Ambassador John Campbell for example, writing for the Council on Foreign Relations, says: "His administration has carried on many of the constructive policies of its predecessors. READ MORE US-Africa: Team Trump steps on the gas as China looms The bipartisan Better Utilization of Investments Leading to Development (BUILD) Act wants to help US companies do business in Africa. The restart of the US Eximbank, and the launch of a new Development Finance Corporation with twice the budget of the institution it replaced can also be seen as net positive. Some are concerned that the clearly stated anti-China agenda of both institutions will run into difficulties if they provoke a new cold war on the continent. READ MORE US EXIM: 'We have a new mandate to take China on around the world' Given the bipartisan mood in Washington around China, a Biden presidency would mean smooth US-China relations.