Nilson Report

Issue 1176 | May 2020


Companies featured in this issue include:

Top U.S. Issuers of Commercial Cards

U.S. Mastercard & Visa Commercial Card Issuers Ranked by Purchase Volume in 2019

U.S. Business Credit Cards 2019

U.S. Business Debit Cards 2019

U.S. Corporate Cards 2019

U.S. Commercial Prepaid Cards 2019

U.S. Purchasing & Fleet Cards 2019

U.S. Merchant Processing Fees—Purchase Volume and Fees Paid in 2019

U.S. Merchant Processing Fees—Purchase Volume and Fees Paid in 2019

Merchants in the United States paid $92.68 billion to accept general purpose and private label credit cards in 2019. Most of those fees went to issuers of Mastercard and Visa cards.

1. Visa/Mastercard
$67.59 billion in fees paid
2. American Express
$18.63 billion in fees paid
3. Private Label
$3.27 billion in fees paid
4. Discover
$3.19 billion in fees paid

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TabaPay Debit Card Acquiring

The over 900 merchants using TabaPay to acquire card payments are bank and alternative lenders, prepaid card program managers, bill payment providers, and various types of money services businesses. Clients include SoFi, LendingPoint, Coinstar, PayNearMe, Earnin, Stash, Dave, and Nobel. TabaPay does not provide card acceptance services for in-store or online sales of goods and services. It focuses on taking payments and distributing payouts that its clients previously managed through automated clearinghouse (ACH) transactions. The company processes primarily debit card transactions, more than 76 million last year, and sends them directly into the Visa, Mastercard, and Discover networks or one of five regional networks led by Star, Pulse, Nyce, Accel, and CU24. It routes transactions based on the lowest interchange and network fees. Its customers pay those fees plus 25 cents per transaction.

TabaPay is an ISO and/or processor for nine banks and operates its own full-stack processing system and provides services for other ISOs. The company handled $5.50 billion in payments in 2019 and expects that figure to exceed $12.00 billion this year from over 150 million transactions. Based on current processing volume, TabaPay ranks 11th largest among acquirers that settle transactions into regional EFT networks in the U.S.

Money services businesses connected to TabaPay include online banks and brokers, remittance providers, cryptocurrency exchanges, prepaid card issuers, and early wage access companies. That last group is the fastest growing segment. Those companies enable employers to provide their employees with early access to wages earned. TabaPay sends the money instantly to an employee’s debit card. Seven of the nine largest early wage access companies in the U.S. are TabaPay customers. 

A top growth area for TabaPay is handling installment payments consumers make to lenders—a market that is growing very quickly. Less than 1% of payments are made by debit card. Accepting debit cards offers lenders guaranteed payment, something not available from an ACH transaction because a consumer’s automatic payment can be pulled when their account lacks sufficient funds. 

TabaPay is a preferred partner in Visa Direct and Mastercard Send. It maintains direct connections to both networks. Companies connected to TabaPay include Cross River Bank, Sutton Bank, The Bancorp, Evolve B&T, WebBank, CBW Bank, and MetaBank. These companies handle business for more than 75% of all fintechs in the U.S.


Manoj Verma is Chief Revenue Officer at TabaPay, Inc. in Mountain View, California,,

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