The Nilson Report

Issue 1140 | Oct 2018


Companies featured in this issue include:

Payment Cards Projected Worldwide

Top Card Issuers in Latin America

PayPal’s Smart Payment Buttons

Global General Purpose Cards—Midyear 2018

Top U.S. GP Credit Card Issuers at Midyear

First Data’s Dark Web Fraud Fighting

Interoperability from ModoPayments

Divido Installment Loan Platform

Investments & Acquisitions—September 2018

American Express Gold Card Update

Payment Cards in Circulation Worldwide

Investments & Acquisitions—September 2018

Global General Purpose Cards Midyear 2018 vs. Midyear 2017

Top Issuers of General Purpose Credit Cards in the U.S. Midyear 2018

Top Credit Card Issuers in Latin America 2017

Top Debit Card Issuers in Latin America 2017

Top General Purpose/Visa/Mastercard Card Issuers in Latin America 2017

Top Issuers of General Purpose Credit Cards in the U.S. Midyear 2018

General purpose credit card outstandings as of June 30, 2018 were $904.87 billion. Market share for the 12 largest issuers are listed in the chart on page 9. Listed here are the top 5.

1. 1. JPMorgan Chase
$145.26 billion outstandings, 16.1% market share
2. 2. Bank of America
$106.58 billion outstandings, 11.8% market share
3. 3. Citi
$106.29 billion outstandings, 11.7% market share
4. 4. American Express
$104.94 billion outstandings, 11.6% market share
5. 5. Capital One
$94.32 billion outstandings, 10.4% market share

Full access to the Top Issuers of General Purpose Credit Cards in the U.S. Midyear 2018 is available when you subscribe to The Nilson Report.



Interoperability from ModoPayments

ModoPayments handles distributed transaction processing on behalf of clients needing interoperability for payment and loyalty systems. The company’s cloud-based (AWS) platform, called Coin, is a utility that solves connectivity problems between different systems that need to work together. Modo offers a digital payment hub that enables connections to many processors, acquirers, and alternative payment networks with one technical integration. Modo says its overall exception item rate is 0.05% and trending lower.

Mastercard used Modo last year in an internet of things (IoT) pilot as a way to test how to link its business-to-consumer system to facilitate payments initiated by connected devices. 

Etihad Airways recently hired Modo to connect its loyalty system to its main reservation system. Modo enables loyalty points or a combination of points and new spending to be used to purchase a ticket using a virtual card. Etihad’s loyalty and reservation systems are operated by different third-party providers. They now communicate without any changes required by those providers. 

FIS Global uses Modo to support a stand-alone mobile app that lets users convert loyalty cards for in-store redemptions. And Modo is working on other projects with FIS that involve interoperability in support of loyalty programs at FIS financial institution clients. 

Klarna uses Modo to quickly connect to online merchants worldwide that want to integrate the company’s financing options.

Modo has received $16.5 million over five funding rounds, including $5.2 million in private equity from Deutsche Bank in August. The company is using its most recent funding round to expand existing system capabilities to approach a broader set of potential clients.

Competitors to Modo include companies that sell software directly to merchants such as ACI Worldwide, as well as payment service providers such as Adyen.

Bruce Parker is Chief Executive Officer at ModoPayments in Richardson, Texas, (214) 238-4799,,

© Copyright 2019 The Nilson Report

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