Payment Types

Building upon the 2010 Federal Reserve Payment Study, Card Hub analyzed the consumer payment landscape along various other metrics that clearly illustrate significant patterns in consumer spending. Please find the results of both the study and Card Hub’s analysis below.

Check Payments

  • Number of checks paid: 24.4 billion
  • Value: $31.6 trillion
  • Average Transaction: $1,295
  • Annual rate of decrease in transactions from 2006 to 2009: 7.2 percent

Electronic Payments

  • The key types of electronic payments are ACH transactions, credit cards, debit cards, and prepaid cards.
  • Number of electronic payments: 84.5 billion
  • Value: $40.7 trillion
  • Average Transaction: $481.6
  • Annual growth rate of transactions from 2006 to 2009: 9.3 percent

ACH Transactions (91.4% of all electronic payments)

  • Number of ACH payments: 19.1 billion
  • Value: $37.2 trillion
  • Average Transaction: $1,947.6
  • Annual growth rate of transactions from 2006 to 2009: 9.3 percent

Credit Cards (4.7% of all electronic payments)

  • Number of credit card payments: 21.6 billion
  • Value: $1.9 trillion
  • Average Transaction: $88
  • Annual rate of decrease in transactions from 2006 to 2009: 0.2 percent

Debit Cards (3.7% of all electronic payments)

  • Number of debit card payments: 37.9 billion
  • Value: $1.5 trillion
  • Average Transaction: $39.6
  • Annual growth rate of transactions from 2006 to 2009: 14.8 percent

Prepaid Cards (0.25% of all electronic payments)

  • Number of prepaid card payments transactions: 6.0 billion
  • Value: $0.1 trillion
  • Average Transaction: $16.7
  • Annual growth rate of transactions from 2006 to 2009: 21.5 percent

ATM Withdrawals

  • Number of ATM cash withdrawals: 6.0 billion
  • Value: $0.6 trillion
  • Average Withdrawal: $100
  • Annual growth rate of transactions from 2006 to 2009: 0.8 percent
POST YOUR COMMENT

Close