Payment card shipments in 2022 by manufacturer were published in issue 1251.
There were 16.99 billion global general purpose cards in circulation on June 30, 2023. This was up 5.2% from June 30, 2022.
Visa and Mastercard cards issued by the 50 largest accounted for 73.7% of all Mastercard and Visa cards issued in LA&C.
Credit card purchase volume of $5.760 trillion (up 18.8%) equaled 52.52% of the total compared with 49.62% in 2021. Purchase volume on debit and prepaid cards reached $5.207 trillion, up 5.7%.
Issuers from the US held a 42.4% market share among the largest portfolios, followed by issuers from China with a 35.6% share.
Of the 50 largest debit card issuers in the US (see issue #1240), only 3—the Bancorp Bank, which ranks 6th largest, Pathward Financial, which ranks 16th largest, and Green Dot Bank, which ranks 20th largest, have less than $10 billion in assets. The three focus on prepaid cards. Of those debit card issuers ranked 51st to 100th largest (see issue #1245), 32 have fewer than $10 billion in assets.
Mastercard believes it has some first mover advantage in automobile payments for two reasons. One is because there are so many technical and regulatory hurdles that come with an in-car payment network. The other is because the lead times for new car launches are often as long as five years.
US household debt totaled $19.393 trillion at year-end 2022, up 5.8% over 2021. That figure was compiled by the Federal Reserve.
The bank plans to provide an extensive online marketplace of vetted software providers its customers can connect to easily.
There are 261 million Americans aged 18 and over, of which 100 million, more than 38%, either have no files at credit bureaus or are challenged by subprime credit scores.