Table of Contents
- Scope and Themes
- What you need to know
- Data sources
- Consumer research
- Primary data analysis
- Online surveys
- Phone surveys
- Greenfield Online
- Secondary data analysis
- Abbreviations and terms
- Abbreviations
- Companies listed in this report:
- Executive Summary
- Industry overview
- Debit market and segments
- 2008 litigation increases government oversight and impacts processors'
bottom line
- Debit cards--they' re not just for banks anymore
- Debit cards and the economy
- Competitive landscape
- Branding and advertising
- The future of electronic payments
- The debit card consumer
- Market Size and Forecast
- Key points
- House of cards
- A new conservatism in consumer spending--from credit to debit
- Figure 1: Debit' s share of transaction dollar volume and projections,
2002-12
- Figure 2: In-store payment methods in the U.S., 1999-2008
- Figure 3: In-store payment methods in the U.S. and forecast, 2008
- Web-based transactions
- Figure 4: Most frequently used payment methods for online bill payment
and transactions, by method, 2006 and 2009
- Consumers prepare for continued turbulent weather
- Figure 5: Debit and credit card usage in current economic situation,
overall, January 2009
- Cards in circulation
- Figure 6: Number of debit cards in circulation in the U.S., 2000-08
- Figure 7: Number of credit cards and bank debit cards in circulation in
the U.S., by card association, year-end 2008*
- Numbers of cardholders
- Figure 8: Number of debit card holders in the U.S., 2000-06
- Transaction volumes
- Figure 9: Number of debit point-of-sale transactions in the U.S., 2000-10
- Figure 10: Purchase volume from debit cards in the U.S., 2000-10
- Competitive Context
- Key points
- Decoupled debit
- Remote purchases by savvy shoppers
- Figure 11: U.S. retail regular unleaded gas prices, 2000-09
- Driver' s licenses become payment cards
- Figure 12: Processing cost per $100 transaction, by payment type,
January 2009
- Payment technology is key to future preferences
- Payments on the go
- Features of prepaid debit cards meet the needs of the unbanked
- Who will pay the price of convenience?
- Debit card rewards a delicious "hot potato"
- Figure 13: Attitudes towards debit cards with rewards, by age, January
2009
- Innovative service and convenience
- Visa Mobile now available
- 2008--The year of litigation
- Segment Performance
- Key point
- PIN debit tips the balance as preferred over signature debit
- Figure 14: Market share of PIN versus signature debit transactions,
2001-08
- Figure 15: Importance of banking products and services in choice of
bank, summary of means, January 2009
- Figure 16: Importance of banking products and services in choice of
bank, January 2009
- PIN versus signature revenue shortfall
- Marketing Channels
- Key points
- Top issuers of debit cards
- Figure 17: Debit card ownership, by issuer of primary debit card, by
race, January 2009
- Decoupled--watch and wait
- Figure 18: Prevalence of debit card use, by purchase amount, January 2009
- Figure 19: Importance of banking products and services in choice of
bank, January 2009
- New payment methods come and go...but do they return?
- A simple way to deal with complicated value propositions and rewards
- MasterCard debit card linked to PayPal
- Pay for gas with your driver' s license
- How driver' s licenses become payment cards
- Walmart agility for the unbanked
- Figure 20: Walmart' s prepaid debit card costs, 2008 and 2009
- Market Drivers
- Key points
- Home sweet short-sell
- Figure 21: National average contract mortgage rate, 1963-2008
- Figure 22: U.S. regular retail gas prices, 2000-09
- Spender bender
- Figure 23: Outstanding consumer credit, by credit type, 1980-2009
- Credit card performance
- Figure 24: Credit card performance indexes, 2007-09
- Figure 25: Highest credit card purchase transaction dollar volumes, 2008
- Figure 26: The U.S. economic forecast of key economic measures, by
seasonally adjusted annual rates of percent change, by quarter, 2008-10
- Lack of consumer confidence signals continued restrained spending
- Figure 27: The Conference Board Consumer Confidence Index™ March 2009
- Figure 28: U.S. unemployment rates, by month, 2000-09
- Consumer behavior mirrors little confidence
- Figure 29: HH debt-service payments & financial obligations ratio (FOR)
as percent of disposable personal income, 1993- 2008
- Figure 30: Estimates of U.S. population, projections and debit card
penetration and point change, by age, 2006-09
- Figure 31: U.S. population and projections, by age, 1990-2020
- Figure 32: Percent change in population, selected age groups, by region,
1990-2000
- Leading Companies
- Key points
- Debit, dominated by Visa and MasterCard
- Restructuring and reclassifying in the electronic payments industry
- Bank holding company status increases regulation in financial sector
- Lawsuits steal profits
- Visa Inc.
- Figure 33: Number of credit cards and bank debit cards in circulation in
the U.S., 2008-09
- Visa' s areas of focus
- MasterCard Worldwide
- Electronic payment company profits
- Figure 34: Debit and credit card issuers, total net revenue and net
income, by company, 2008*
- Figure 35: Share of U.S. debit card dollar volume, by leading companies,
2007
- The changing face of the financial sector
- Figure 36: The changing face of banking, 2007 and 2008
- Innovation and Innovators
- Key points
- Payment technology is key to future preferences
- Contactless debit--the need for speed and lack of space
- Emerging technologies
- Mobile payments technology
- Visa Mobile now available
- Deferred debit is not just for signatures anymore
- Advertising and Promotion
- Key points
- Overview
- Figure 37: Credit/debit card industry advertising and marketing
expenditures, 2008
- A single global campaign helps Visa create operational efficiencies
- MasterCard
- Television advertising
- Figure 38: Bank of America television ad, 2008
- Figure 39: Citibank Citi Card television ad, 2008
- Figure 40: Visa Check Card television ad, 2008
- Figure 41: MasterCard Debit (ATM Card) television ad, 2008
- Figure 42: Citibank Citi Card television ad, 2008
- Figure 43: Zions Bank Check Card television ad, 2007
- Figure 44: Visa Check Card television ad, 2007
- Direct mail advertising
- Innovative Incentive and Feature: Citibank/AAdvantage debit card from
Citibank
- Figure 45: Citibank direct mail ad, 2009
- Innovative Incentive: MasterCard "Overjoy of Giving" instant win game from
KeyBank
- Figure 46: MasterCard direct mail ad, 2009
- Innovative Creative: debit card from Contra Costa Federal Credit Union
- Figure 47: Contra Costa FCU direct mail ad, 2008
- Innovative Incentive, Innovative Product: Youth Savings Account from USAA
Federal Savings Bank
- Figure 48: USAA direct mail ad, 2007
- Innovative Incentive: Statement mailing from Charter One Bank
- Figure 49: Charter One Bank direct mail ad, 2008
- Email advertisements
- Innovative Incentive: Thanks-a-Million sweepstakes from Citibank, N.A.
- Figure 50: Citibank email ad, 2008
- Innovative Creative: Free Bill Pay from Bank of America, N.A.
- Figure 51: Bank of America email ad, 2008
- The Consumer--Summary
- Key points
- Debit cards growing in an unsure economy
- Marketing opportunities exist among oldest segments
- Reality sets in among mature adults
- Debit card use--a matter of value and values
- Card Usage and Ownership
- A sense of security
- Figure 52: Debit card ownership, by key demographic group, 2006 and 2009
- Many smaller households signal marketing opportunities
- Figure 53: Debit card ownership, by children in HH and size of
household, January 2009
- Usage rates for debit card users
- Figure 54: Debit card frequency of use, by age and size of household,
January 2009
- Figure 55: Debit card frequency of use, by race/Hispanic origin, January
2009
- Debit card use by category
- Figure 56: Debit card use, by category, January 2009
- Frequency of payment method by category and purchase amount
- Figure 57: Most frequently used payment methods for key spending
categories and change from 2006, January 2009
- Figure 58: Most frequently used payment methods for key spending
categories and change from 2006, by age, January 2009
- Figure 59: Most frequently used payment methods for key spending
categories, by household income, January 2009
- Figure 60: Most frequently used payment methods for key spending
categories, by race/Hispanic origin, January 2009
- Figure 61: Most frequently used payment methods for key spending
categories, by presence of children and size of household, January 2009
- Frequency of debit card use by purchase amount
- Figure 62: Prevalence of debit card use, by purchase amount, January 2009
- Debit Card Ownership by Issuers
- Figure 63: Debit card ownership, by issuer of primary debit card, by
race, January 2009
- Attitudes towards Debit and Credit Card use
- "Needs" versus "Wants"
- Wisdom of the ages--change in card usage in the current economic situation
- Figure 64: Debit and credit card use in current economic situation, by
age, January 2009
- Figure 65: Debit and credit card use in current economic situation, by
household income, January 2009
- Figure 66: Debit and credit card use in current economic situation, by
race/Hispanic origin, January 2009
- Attitudes toward debit cards with rewards
- Figure 67: Attitudes towards debit cards with rewards, by age, 2006 and
2009
- Figure 68: Attitudes towards debit cards with rewards, by age, January
2009
- Figure 69: Attitudes towards debit cards with rewards, by race/Hispanic
origin, January 2009
- Figure 70: Attitudes towards debit cards with rewards, by presence of
children, January 2009
- Figure 71: Attitudes towards debit cards with rewards, by size of
household, January 2009
- Attitudes toward other debit card incentives
- Figure 72: Attitudes towards debit card incentives, by gender and age,
January 2009
- Figure 73: Attitudes toward debit card incentives, by presence of
children and household size, January 2009
- The Importance of Banking Products and Services when Choosing a Bank
- Figure 74: Importance of banking products and services in choice of
bank, mean scores, January 2009
- Figure 75: Importance of banking products and services in choice of
bank, agree summary, January 2009
- Figure 76: Importance of banking products and services in choice of
bank, by age, January 2009
- Figure 77: Importance of banking products and services in choice of
bank, by household income, January 2009
- Figure 78: Importance of banking products and services in choice of
bank, by race/Hispanic origin, January 2009
- Figure 79: Importance of banking products and services in choice of
bank, by presence of children and size of household, January 2009
- Appendix: Additional Consumer Groups
- Key points
- Equal opportunity marketing
- Figure 94: Debit card ownership, by gender and age, January 2009
- Cultural differences and a values-driven approach to spending
- Figure 95: Debit card ownership, by race/Hispanic origin and household
income, January 2009
- Figure 96: Frequency of debit card use, by race/Hispanic origin and age,
January 2009
- Figure 97: Frequency of debit card use, by race/Hispanic origin and
income, January 2009
- Figure 98: Debit card use, by purchase category, by gender and age,
January 2009
- Figure 99: Debit card use, by purchase category, by race/Hispanic origin
and income, January 2009
- Figure 100: Debit card usage, by purchase amount, by race/Hispanic
origin and age, January 2009
- Figure 101: Debit card purchase amount, by gender and household income,
January 2009
- Importance of banking products and services when choosing a bank
- Figure 102: Importance of banking products and services in choice of
bank, by gender and age, January 2009
- Figure 103: Importance of banking products and services in choice of
bank, by race/Hispanic origin and age, January 2009
- Figure 104: Importance of banking products and services in choice of
bank, by ethnicity and income, January 2009
- Figure 105: Importance of debit incentives in choice of bank, by gender
and age, January 2009
- Figure 106: Importance of debit incentives in choice of bank, by
race/Hispanic origin and income, January 2009
- Figure 107: Importance of different debit rewards programs, by gender
and age, January 2009
- Figure 108: Importance of different debit rewards programs, by
race/Hispanic origin and age, January 2009
- Figure 109: Issuer of primary debit card, by race/Hispanic origin and
age, January 2009
- Figure 110: Issuer of primary debit card, by race/Hispanic origin and
income, January 2009
- Appendix: Trade Associations
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