The 25 largest Visa, Mastercard and Discover brand prepaid card issuers are ranked here based on purchase volume in 2022. Cards in circulation issued by this group totaled 457.0 million on December 31, 2022, up 0.2% from the top 25 in 2021. Both reloadable products and those issued with a specific monetary value are included.

The top 25 collectively accounted for $191.93 billion in purchase volume in 2022, down 22.3% from 2021. The decline is attributable to the reduction in federal government stimulus payments. Purchase volume was generated by 4.55 billion pu...