The US Merchant Acquiring Market 2009: Accelerating Change in a Down Economy

Table of Contents

TABLE OF FIGURES

INTRODUCTION

ACQUIRER BUSINESS MODEL TAXONOMY

2008 - THE YEAR IN REVIEW

• A NOTE ON ACQUIRING INDUSTRY DATA
• MARKET PERFORMANCE OF THE TOP 10 US ACQUIRERS
• ACQUIRING MARKET SHARE CAN VARY BASED ON DIFFERENT METRICS
• FIRST DATA' S DATA
• THE PORTFOLIO SHUFFLE - PART ONE
• CRYSTAL BALL TIME - ACQUIRER MARKET SHARE IN FOUR YEARS

SELECTED MARKET TRENDS - 2009 AND BEYOND

• THE PORTFOLIO SHUFFLE - PART TWO (BANKS AND NON-BANKS IN MERCHANT ACQUIRING)
• MERCHANT AND LEGISLATOR PRESSURE ON CARD PROCESSING COSTS AND WHAT ACQUIRERS MIGHT DO TO ALLEVIATE IT
• THE GRIM SPECTER OF PCI

CONCLUSION - "THE MORE THINGS CHANGE..."

TABLE OF FIGURES

• Figure 1: Acquiring - Typical Business Models in the US
• Figure 2: The Top 10 US Acquirers 2008
• Figure 3: Growth in US Bankcard Volume for 2008 Top 10
• Figure 4: Acquirer Share of Total US Payment Card Volume 2008
• Figure 5: Acquirer Share of Total US Transactions 2008
• Figure 6: Portfolio Size for Top 10 Acquirers
• Figure 7: Estimated Average Annual Merchant Bankcard Volume
• Figure 8: Estimated Average Bankcard Ticket
• Figure 9: Projected Acquirer Market Share 2012 - Bankcard Volume
• Figure 10: Bank-Branded Acquirers Capture Over Two-Thirds of the US Market
• Figure 11: But, Bank Owned Acquirer Processors Capture Less Than Half of US Volume