Citi Regains Full Control Over AA Co-branded Cards
A new 10-year agreement between Citi, the third largest credit card issuer in the US, and American Airlines, the country’s largest carrier, will commence in 2026.
Area of Interest: Payment Card Issuing
Global Brand Cards Worldwide — Midyear 2024
Visa, UnionPay, Mastercard, American Express, JCB and Discover/Diners Club brand credit, debit and prepaid cards combined generated 363.93 billion purchase transactions for goods and services worldwide from January 1 through June 30, 2024. This was a 13.1% increase from the same period in 2023.
US Commercial Cards — Visa, Mastercard, American Express — 2023
Credit, debit and prepaid consumer and commercial cards carrying Visa, Mastercard, American Express and Discover brands issued in the US combined reached $10.169 trillion in purchase volume in 2023, up 6.4% over 2022.
Mastercard to Settle UK Litigation
The litigation concerned the financial impact of higher prices for goods and services paid by cardholders owing to interchange fees that merchants paid to Mastercard card issuers.
Top 150 Credit Card Issuers by Purchase Volume — 2023
Purchase volume generated by the 150 largest credit card issuers in the world reached $13.512 trillion in 2023. This group represented issuers from 52 countries. The 10 largest issuers accounted for 45.1% of purchase volume among the 150 largest. Those 10 issuers included 5 from the US that collectively accounted for $4.032 trillion and 5 […]
Amex Motions Denied in Potential Class Action Lawsuit
U.S. District Judge Mary S. McElroy has ruled against two motions made by American Express regarding a federal antitrust lawsuit brought on behalf of more than 5,000 merchants by 5-Star General Store, a convenience store in Pawtucket, Rhode Island.
Texas Court Denies Motions from CFPB Regarding Lawsuit over Penalty Fees
The final rule was due to go into effect on May 14, 2024, but two days after the CFPB’s ruling was issued, a group of trade associations filed litigation in the United States District Court of the Northern District of Texas, Fort Worth Division (Case No. 4:24-cv-00213-P).
Card Fraud Losses Worldwide in 2023
Purchase volume combined with cash advances and cash withdrawals tied to global brand, domestic-market-only and private label credit, debit and prepaid cards was $51.435 trillion worldwide in 2023. This was an increase of 4.7% from $49.149 trillion in total volume in 2022.
Top 150 Debit Card Issuers Worldwide
Purchase volume generated by debit cards from the 150 largest issuers combined reached $11.375 trillion in 2023.
Consumer Payment Systems and PCE in the US
Personal consumption expenditures (PCE), a statistic calculated by the United States Department of Commerce’s Bureau of Economic Analysis (BEA), were $18.823 trillion in the US in 2023. Purchases made for goods and services totaled $14.655 trillion, which was 77.86% of PCE. The BEA includes transactions for which no payment was made, even though a monetary […]
