Forecast: Value of Payments by Cards with a Credit Function in the US

The value of payments by cards with a credit function in the US has seen substantial growth over the past decade, rising from 2.4473 trillion USD in 2013 to 4.0422 trillion USD in 2023. While the growth has generally been robust, the COVID-19 pandemic in 2020 caused a significant dip of -14.68%. However, the value rebounded strongly with a 29.88% increase in 2021. The year-on-year variation for the last two years shows a 2.43% increase in 2023. The Compound Annual Growth Rate (CAGR) over the past five years is calculated at 2.1%.

Forecasts suggest that the value of payments will continue to rise, reaching 4.5551 trillion USD by 2028, which represents a forecasted 5-year CAGR of 1.82%.

Future trends to watch for include the increasing adoption of digital wallets and contactless payments, innovations in fintech, and shifts in consumer spending behavior influenced by economic factors and changing lifestyles.