As of 2023, the US had roughly 1.02 billion cards with a cash function. Forecasted data suggests a steady growth to 1.0546 billion by 2028. Observing the year-on-year variation, the growth in the number of cards reveals small increments annually, averaging a CAGR of approximately 0.53% from 2024 to 2028.
Future trends to watch for include:
- The digital transformation of transactions, which may impact the demand for physical cash function cards.
- Increasing adoption of mobile and digital wallets as alternatives to traditional cash function cards.
- Technological advances in payment security, influencing consumer preferences.