The major factors that are driving the market are improvement in security, customer convenience, better financial services and standardization.Request Sample Pages of US Payment Card Market @ https://www.adroitmarketresearch.com/contacts/request-sample/61The US Payment Card Market research report covers various qualitative and quantitative aspects including drivers, restraints, opportunities, estimates and forecast for types & applications and detailed profiles of leading players.The major players in the US Payment Card Market includes; Perfect Plastic Printing,Oberthur Technologies,Gemalto,CPI Card Group,Giesecke & Devrient,Valid USA, Inc.,Goldpac Group Ltd,MCT Cards & Technology Pvt.
Ltddz card andCardLogix Corporation.Payment cards such as EMV which offer chip & pin as a verification tool have helped in reducing the number of counterfeit frauds in the US The collaboration between government and industry players is also driving the market further by strengthening the security for transactions and implementing standardized products.To deal with the rising number of frauds due to the use of magnetic stripe cards, the U.S government has started implementing microchip cards and also creating awareness about EMV card.
For instance, the government of US, in October 2015, had taken key initiatives such as liability shift and BuySecure to implement the use of EMV cards due to which the US Payment Card Market is expected to grow further in the coming years.Migration to EMV is likely to put the US and other countries (that have already adopted EMV standards) on a single global fraud protection standard and this will assist in the eventual withdrawal of magnetic stripe cards, thus, reducing the number of card frauds.
In line with this, the players in the payment market are expected to benefit as they have to support only one set of technical standards in the value chain.
This is expected to shift their focus on revenue-generating projects by offering better products & services driving the market growth further during the forecast period.The contact-based payment card segment dominated the market by contributing USD 735.1 million in the year 2017.
For instance, in 2014, MasterCard collaborated with Dynamics Inc. to drive innovation in the US payment cards market.