Nilson Report

Issue 1177 | Jun 2020


Companies featured in this issue include:

Europe’s Global General Purpose Cards—Market Shares in 2019

Europe General Purpose Cards 2019 vs. 2018

Market Shares of Purchase Transactions in Europe 2001-2019

Purchase Volume on U.S. General Purpose Cards

Purchase Volume at Merchants 2019—General Purpose Credit, Debit, and Prepaid Cards Issued in the U.S.

Consumer ACH Transactions in the U.S.—2019

Investments & Acquisitions—May 2020

Purchase Volume at Merchants in the U.S.—2019

The 100 largest payment card issuers in the U.S. are ranked on pages 8 and 9 by combined credit, debit, and prepaid card purchase volume generated in 2019. The 5 largest are listed here.

1. JPMorgan Chase
$1,155.93 billion, +8.6%
2. American Express
$801.88 billion, +6.2%
3. Bank of America
$726.63 billion, +4.3%
4. Wells Fargo
$504.16 billion, +4.7%
5. Citibank
$470.80 billion, +8.0%

Full access to the Purchase Volume at Merchants 2019 results for general purpose, credit, debit, and prepaid cards issued in the United States is available when you subscribe to the Nilson Report.



ACH Payments in the U.S.

Please note: Only subscribers can access the charts included with this article.

FedACH, a service of the Federal Reserve, and the Electronic Payments Network (EPN), a business unit of the Clearing House Payments Company, operate automated clearing house networks in the U.S. facilitating commercial, consumer, and government payments. The value of FedACH and EPN combined reached $55.800 trillion in 2019, up 8.9% over 2018. This was the biggest year-over-year growth in over a decade. The value of ACH payments has increased by more than $1.000 trillion for seven years in a row.

Combined FedACH and EPN consumer-related ACH transactions last year grew 7.0% to 20.63 billion. Those transactions were valued at $17.653 trillion, up 8.9%. 

When a financial institution owns the deposit account of the payor as well as the recipient of an ACH item, transactions are considered to be “on-us.”  That business is not included in figures shown here. Those transactions would add at least 15% to the figures in the chart on this page. 

ACH network and on-us payments are credits and debits of funds between consumers and businesses, businesses and businesses, governments and consumers, consumers and consumers, and governments and businesses. 

Credit transactions are pushed from a payor’s account to a recipient’s account. They include consumer-initiated bill payments, government benefits, person-to-person (P2P) payments, business-to-business payments, and direct deposits of payroll. 

Debit transactions are funds requested by an originator, authorized by a payor, and collected from the payor’s account. They include recurring payments, payments made over the telephone or over the internet, paper check conversions at the point of sale, paper check conversions at a back office, re-presented checks, paper check conversions at a lockbox, and payments made by debit cards issued by merchants. 

Internet-based transactions had the highest growth among consumer-related payments using the ACH in 2019, up 13.1%. The value of those payments was $3.641 trillion, up 12.9%. 

Internet transactions include bill payments from online banking sites and bill-payment service providers as well as web-based transactions from one-time and recurring bill payments made at biller sites. P2P payments through Zelle, Venmo, and Square Cash handled by FedACH and EPN reached 153 million last year, up 18.9%. Payments made over the telephone grew 9.5% last year to 655.3 million. Those payments were valued at $272.72 billion.

Merchants that issue private label debit cards saw transactions reach 257.5 million, an increase of 2.3%. However, the value of those transactions at $17.16 billion was a decline from $17.31 billion the year before. 

Prior issues: 1154, 1131, 1112, 1090, 1064

© Copyright 2020 Nilson Report

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