Largest US General Purpose Credit Card Issuers — 2022
Outstanding receivables tied to consumer, small business and commercial cards from the top 20 issuers in the US grew by 18.4% to $1.006 trillion as of December 31, 2022.
Area of Interest: Payment Card Issuing
The 50 Largest US Visa and Mastercard Credit Card Issuers—2022
The 50 largest issuers combined reported purchase volume of $3.699 trillion in 2022, up 18.5% from 2021. The US industry average for Visa and Mastercard was up 19.3%.
Global Network Card Brands US — 2022
Consumer and commercial credit, debit and prepaid cards issued in the US carrying the American Express, Discover, Mastercard and Visa brands generated $9.563 trillion in purchase volume in 2022, an increase of 13.0% over 2021.
Visa and Mastercard Cards in the US — 2022
Visa and Mastercard consumer and commercial credit, debit and prepaid cards issued in the US generated $8.272 trillion in purchase volume in 2022, up 12.0% from 2021.
New SE Asia Ecommerce Fraud Ring
Ecommerce sites in the US and Asia-Pacific lost an estimated $700 million in fraudulent sales to criminals in Southeast Asia during the fourth quarter of 2022. Operating mainly from Malaysia, Vietnam and Indonesia, the fraudsters targeted sellers of smartphones, computers and semiconductor chips.
CFPB Proposes Change to US Credit Card Late Fees
On February 1, the US Consumer Financial Protection Bureau (CFPB) proposed a rule to curb credit card late fees, saying that they represent more than 10% of all credit card finance charges and fees paid annually.
P97 Adds Visa Tokenization
Building the last mile connectivity that links consumers using mobile wallets, connected vehicles and voice-service devices to fuel pumps and electric vehicle (EV) chargers is the business of P97, a payment orchestration company. P97 maintains a network of more than 66,000 connections to point-of-sale systems at fuel retailers and EV charging stations, mainly in the US, but also in Canada, Europe, Saudi Arabia, Australia and New Zealand.
Fiserv Expands in Canada
Desjardins, Canada’s largest federation of credit unions, will convert its card accounts to the Optis processing platform operated by Fiserv. The cooperative owns a portfolio of 4.5 million Visa and Mastercard credit card accounts and is Canada’s fourth largest credit card issuer when measuring outstanding receivables. It had been handling account processing in-house.
Investments & Acquisitions in 2022
There were 700 transactions in card payments and related fields in 2022. There were 382 transactions in the first half of the year and 318 in the second half. Those deals occurred in 68 countries.
Worldwide for First Nine Months of 2022
Mastercard and Visa credit, debit and prepaid cards in circulation worldwide generated $13.486 trillion in purchase volume for the first nine months of 2022, an increase of 14.9% versus the first nine months of 2021. Of the Mastercard and Visa worldwide total, purchase volume tied to cards issued outside the US accounted for 54.71%, up from 54.02% in 2021.