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For 54 years, the leading publication covering payment systems worldwide

Newsletter

1286

May 2025 | Current Issue

The Nilson Report, in its 54th year of publication, is the most respected source of news and analysis of the global card and mobile payment industry. Published bi-monthly.

16th Annual Research Publication

The World’s Top Card Issuers
and Merchant Acquirers

The World’s Top Card Issuers and Merchant Acquirers research publication is now in its 16th edition, and includes over 1,390 financial institutions in more than 120 countries.

Special Offer

Claim Your Free Trial of the Nilson Report.

Featured Chart

Card Spending at Merchants—2024

The 100 largest issuers of general purpose credit, debit and prepaid cards generated $8.792 trillion in purchase volume in 2024, up 3.9%. The issuers below accounted for $7.235 trillion.

Ramp Adds Stablecoins for Visa Corporate Cards

Last year, Ramp software facilitated over $60 billion in payments, with less than 50% tied to Visa Signature cards. Ramp’s latest service leverages an existing partnership with Stripe and will offer corporations US dollar-backed stablecoins to address their cross-border payment needs.

Expertise

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Select a topic and use the filter by region below to find articles that match a specific area of interest.

Subscriber Companies

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STATS

Payment Card Fraud

$ 0

billion was lost to fraud
worldwide in 2023

0 %

of those losses
occurred in the U.S.

$ 0

billion in worldwide losses are
projected over the next ten years

Industry Events

Keep current with industry events, and take advantage of special promotions.

Featured Event

Africa Payments & RegTech Forum

September 4, 2025

In Africa, Payments and Regtech stand as catalysts for economic transformation. Innovations in digital transactions coupled with robust regulatory technology are reshaping the financial landscape.

Subscriber Testimonials

Melody Cuff, on behalf of President

, EVP, Chief Acquisitions Officer

, Oliphant Financial

The production quality of NR is simply unmatched. If you want to know what's happening at the cutting edge, NR will not only make sure you see it, but provide you with specific contact information you can act on today! NR is an efficient publication. It's quick to get to the point while not being overcrowded, making it the most enjoyable layout I see each month. As a fan of more than 20 years, I look forward to NR more than any other subscription.

Thomas DeLuca

, Global POS Lending Tribe Lead

, ING

Throughout my 25+ years in the ever-evolving merchant payments industry, the Nilson Report has been a constant companion — an essential source of information, and a means for connecting to the “who’s who” in the space. If there is one “must read’ to stay informed about payments, it is the Nilson Report!

William Maurer

, Professor, Institute for Money, Technology & Financial Inclusion

, University of California, Irvine

As a researcher in the payments space, I have come to depend upon the Nilson Report's independent and comprehensive reporting and data. It's really one of a kind.

Hans Morris

, Managing Partner

, NYCA Partners

I have been reading the Nilson Report for several decades now, and consider it indispensable for anyone in the payments industry. I also admire its utterly unique approach to journalism: clear, concise, accurate information and insights that are free of advertising and tendentious sourcing. We could use more of this!

Carolo Specogna

, VP of Product Strategy for Card Services

, FISERV

The Nilson Report is an indispensable guide to the movers and shakers in the cards and payments industry. Providing a comprehensive overview of payment trends and useful data both in the US and globally, Nilson enables Fiserv to keep our finger firmly on the pulse of the challenges and opportunities facing issuers, acquirers, financial institutions, fintechs, analysts, academia and others.

Donald Kossman

, General Manager, Fraud Protection

, MICROSOFT

The payment industry is going through a digital transformation and innovating in many ways. In these times, it is critical to have great data and insights. That is why we at Microsoft are so thankful to have the Nilson Report and cannot wait for the next edition.

Latest Industry News

Industry News

May 13, 2025

Visa and Mastercard have prevailed in Antitrust Claims Over Swipe Fees

Visa and Mastercard have prevailed in litigation against plaintiffs who brought an antitrust suit against the card networks claiming that they conspired to fix interchange fees. The case originated in California state court in 2022 but was consolidated into multi district federal litigation in the Eastern District of New York. Judge Margo Brodie ruled May 12, 2025 that the plaintiffs, who were residents of California, had not identified any facts that she had overlooked in her December 2024 ruling that denied their claims. At that time, she ruled that they didn’t have antitrust standing nor that they were directly harmed by any alleged interchange fee conspiracy.

Latest Nilson News

Nilson in the news

May 22, 2025

Payments Dive

Cash use declines as cards rise: Atlanta Fed

"...analysis released in January from the research firm Nilson Report projects that card payment losses will surpass $400 billion globally over the next decade."