Forecast: Number of Cards with a Payment Function in the US

The number of cards with a payment function in the US saw a steady growth from 2013 to 2016, reaching 1.33 billion units before entering a slow decline. By 2023, the volume stood at 1.27 billion units. Year-on-year variation from 2021 to 2023 shows a consistent decrease of around 0.5%. Over the past five years, the compound annual growth rate (CAGR) is approximately -0.5%, indicating a gradual overall reduction.

Looking forward from 2024 to 2028, forecasts suggest a continued decline at a CAGR of -0.41%, with the volume expected to reduce by 2.01% over this period, affecting the volume which stood at 1.27 billion units in 2023.

Future trends to watch for:

• Impact of digital payment methods on physical card usage
• Emergence of new payment technologies
• Shift in consumer preferences towards contactless and mobile payments