TransUnion Completes Acquisition of Verisk Financial Services
TransUnion completed its acquisition of Verisk Financial Services. Together, our combined capabilities will help us better serve customers through enhanced insights into customer behaviour. Read More.
North America, the oldest cards market in the world, remains at the cutting edge in the evolution of the payments industry. The United States is home to many of the world's largest payments companies and, despite their international expansion, remains their most lucrative market.
The payments market has attracted much investment in recent years as volume continues to grow impressively and acquirers leverage technology to generate new revenue and create efficiencies. In a low-interest-rate environment, the steady fee income generated through payment processing has become more attractive, resulting in a spate of mergers and acquisitions.
As payment preferences have changed with e-commerce and mobile coming to the fore, acquirers have adapted to make payments more seamless than ever while managing risk as fraud also moves online. The result is a much more complex and technology-focused acquiring market than even a decade ago.
The latest regional merchant acquiring report from Argus Advisory Research combines in-depth information on North America's acquiring markets with a region-wide view of industry developments. Topics covered include industry consolidation, growth factors driving rising acquiring volumes and revenues, innovations and industry threats and risks.
This report combines insightful commentary explaining the context of market developments with up-to-date data on each country's cards, merchant acquiring and online acquiring markets.
This North American merchant acquirer report will help you to:
With expert commentary on the region's payments landscape, plus country-level insight underpinned by extensive market data, this report is essential to understanding developments and opportunities in the North American acquiring and processing markets.
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(bar Mexico and Puerto Rico)
Verisk's acquiring market share data also includes:
Merchant acquirer credit card merchant share by the number of merchant accounts.
The number of POS transactions and billed volume of POS transactions.
Merchant acquirer debit card merchant share by the number of merchant accounts.
The number of POS transactions and billed volume of POS transactions.
Acquirers and processors continue to post impressive growth in revenue, far exceeding growth in consumer spending. Although margins are thin and shrinking in the large merchant segment, the overall payments pie continues to expand as the evolution of technology encourages cash and cheque conversion across the board.
Card spending has grown at a CAGR of around eight percent in North America since 2013. Naturally, this closely matches the growth in the United States, which accounts for the majority of regional spend. Growth in Canada has been lower, at just under five percent, while Mexico, as an emerging market, has posted impressive overall growth in card spend of 16 percent per annum. Puerto Rico has also seen steady growth in card volumes despite well over a decade of recession.
Canada:
The merchant acquiring market in Canada is relatively concentrated, with the top four acquirers sharing over 80 percent of the market. The dominant quartet is Moneris Solutions, Global Payments, Chase Merchant Services and TD Merchant Services. Some Canadian credit card issuers conduct their issuing processing in-house. However, most of the largest issuers – including CIBC, TD, RBC and Canadian Tire Financial Services (CTFS) – have outsourced this operation to TSYS.
Mexico:
Traditionally, merchant acquiring has been carried out by the banks directly. However, banks have developed merchant acquiring alliances to gain economies of scale and to increase coverage. Large domestic acquirers such as Citibanamex, Santander and Scotiabank have developed partnerships with acquiring processing companies EVO, Elavon and Fiserv respectively. E-Global (Servicios Electronicos Globales) is the largest processor and is owned by BBVA and Citibanamex. It processes card transactions for BBVA, Citibanamex and transactions on private-label cards issued by merchants such as Walmart, Suburbia and Commercial Mexicana.
Puerto Rico:
Banks in Puerto Rico engage directly in merchant acquiring and have built up coverage to embrace over 23,000 affiliated merchants. Banco Popular dominates the market, followed by FirstBank. Most acquiring processing in Puerto Rico is provided by Evertec. Other processing companies present in the market include Accepta and Dynamics Payments.
United States:
The American merchant acquiring market is a highly attractive and profitable one. Although regulations have been put in place to reduce debit card interchange fees, card MSCs remain unregulated. It is common for both issuers and acquirers to outsource processing in the US market. This is especially true among smaller players who don't have the economies of scale to develop in-house systems.
2CheckOut
A Toda Hora
ABM
Accepta
Active Network
Advent International
Adyen
Aeroméxico
AfterPay
Ahorro
Alipay
Alliance Data
Amazon
American Express
Ameublements Tanguay
AMIPCI
Android
Apple
ATH
Authorize.Net
Bain Capital
Bambora
BAMS
Banamex
Banco Popular
Banco Santander
Banco Santander Puerto Rico
BanCoppel
Banjercito
Bank of America
Bank of America Merchant Services
Bank of Delaware
Bank of Montreal
Banorte
Banwire
Barclays
BBVA
BBVA Bancomer
BBVA Compass
Best Buy
Blackhawk Network
Blue Label Mexico
Blue Label Telecoms
Bluefin
BluePay
BMO
Bodega Aurrera
BofA
BofA Merchant Services
Braintree
Brault & Martineau
Broxel
C&A
Cabify
Canadian Bankers Association
Canadian Federation of Independent Business
Canadian Imperial Bank of Commerce
Canadian Tire Financial Services
Capital One
CardConnect
Carnet
Cayan
CFPB
Chargex
Chase Merchant Services
Chase Paymentech
Chedraui
CIBC
Citibanamex
Citibank
Claro
CNBV
Coca-Cola
Comercial Mexicana
Commercial Mexicana.
ComproPago
Condusef
Conekta
Consumer Financial Protection Bureau
Costco
CTFS
Cybersource
Delta
Desjardins Group
Diners Club
Discover
Dynamics Payments
EconoMax
Edenred
Efectivale
E-Global
El Palacio de Hierro
Elavon
Elektra
Evertec
EVO
EVO Payments
EVO
E-xact Transactions
Fed
Federal Reserve
FedNow
FFMC
Fidelity National Information Services
Fifth Third Bank
Financial Inclusion Council
First Data
First Financial Management Corp
First Ontario Credit Union
FirstBank
FIS
Fiserv
FleetCor
Flexiti
Future Shop
G2
GBPP
Getnet
Global Brand Protection Program
Global Payments
Google
Grubhub
Grupo Bimbo
Harris Bank
Heartland Payment Systems
Home Depot
HSBC
Iberia
Interac
Invex
JCB
JPMorgan Chase
Klarna
Liverpool
Lowe's
MABA
Mastercard
Mastercharge
Mercado Pago
Merchant Monitoring Program
Meridian Credit Union
Metrobus
Mexican Banking Association
Mid-America Bankcard Association
MMP
Mobeewave
Moneris Solutions
National Bank
National Bank of Canada
National Banking and Securities Commission
National Data Corporation
National-BankAmericard
NBC
Netspend
Nova Information Systems
One Card
OpenPay
Orbital
Oriental Bank
Oxxo
Patrick Morin
Payments Canada
PayPal
PayPros
PaySimple
PayU
PNC
Promocion y Operacion
Prosa
PSP Beanstream
RBC
RBS
Realex Payments
Red Qiubo
Reno Depot
Restaurants Canada
Retail Council of Canada
Rona
Royal Bank of Canada
Sam's Club
Samsung
Sanborns
Santander
Santander
Scotiabank
Sears
Servicios Electrónicos Globales
Seven Eleven
Sezzle
Si Vale
SICOM
Sistema de Pagos Electrónicos Interbancarios
Sodexo'
Soriana
SPEI
Square
Square Cash
Staples
Stockpile
Stripe
Suburbia
SunTrust Bank
Synchrony Financial
TCH
TD Bank
TD Financing Services
TD Merchant Services
TDFS
Telefonica
Televisa Radio
The Bay
The Clearing House
The Source
ToditoPay
Transfirst
TSYS
U.S. Bancorp
U.S. Payments Forum
Uber
UnionPay
Vantiv
Visa
Walmart
Wells Fargo
Wells Fargo Merchant Services
Worldpay
Reports deliver comparative market and competitor intelligence on merchant acquiring and processing, retail banking, consumer credit, payments cards and e-commerce markets. Country Reports provide invaluable market and competitor intelligence on card payments markets in countries worldwide.
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