electronic payments research report 2007

What is the dollar volume for different types of electronic payments including debit cards, ACH, and credit cards? Useful research paper for companies examining their payment processing systems and how they might want to grow, expand, or change their current payment options to customers. This report details the methodology and findings of the 2007 Electronic Payments Study (2007 EP study) and includes the number and value of electronic payment transactions originating in the United States for the year 2006.

The 2007 EP study is part of an ongoing effort by the Federal Reserve System to measure and analyze trends in noncash payments in the United States. In 2001, the Federal Reserve System undertook the Retail Payments Research Project to estimate the annual number and value of retail payments in the United States.

Three studies were performed that year: the Electronic Payment Instruments Study (2001 EP study), the Depository Financial Institution Check Study (2001 DI study), and the Check Sample Study (2001 CS study). In 2004, the EP and DI studies were repeated in order to track shifts in payments numbers and values. The 2007 Federal Reserve Payments Study repeats the efforts of the 2001 and 2004 studies. As in 2001, the 2007 Federal Reserve Payments Study consists of three studies: the Electronic Payments Study (2007 EP study), the Depository Institutions Payments Study (2007 DI study), and the Check Sample Study (2007 CS study).
The 2007 EP study looked at “core” electronic payment instruments and at prepaid cards. The core study produced estimates of the transaction number and dollar value of the established payment types: debit cards, credit cards, Automated Clearing House (ACH), and electronic benefits transfers (EBTs). Like previous EP studies, it also looked at emerging payments.
The prepaid card study looked at prepaid cards. In the previous EP studies, prepaid cards were discussed as part of the emerging payments section. In the 2007 EP study, data on prepaid cards were formally collected, and estimates of the transaction number and dollar value were included in recognition of their growing importance. Responses, however, were relatively low.

2007 Electronic Payments Study (PDF download)