North America's credit cards market is booming once more with the global financial crisis largely consigned to history. Merchant acquirers are bearing the fruit of this with transaction volume growing strongly and consumers increasingly choosing to pay by card. The payments processing industry has attracted substantial investment in recent years as it offers a relatively safe and stable source of income and, with the cashless movement gaining momentum, it is an industry that promises continued growth. A small cohort of North American acquirers has emerged as global leaders in the industry, innovating and expanding their footprint around the world.
Acquirers in the region are benefiting from a thriving cards market with transaction volume continuing to grow strongly despite the already highly developed nature of the market. In this environment, acquirers have been able to achieve growth organically, but they continue to compete fiercely to win new business and increase market share.
Our research of North America's merchant acquiring industry covers Canada, Mexico, Puerto Rico and the United States. These four markets have strong variations on card spend, transactions and sources of payments revenue, for example. However, developments in the region are all influenced by the innovative and highly competitive acquiring market of the US.
Overall, the industry has benefitted from the ever-increasing volume of electronic payments, but pressure on margins and an evolving technological landscape means that there is no room for complacency.
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