Nilson Report

Issue 1183 | Sep 2020

FEATURED COMPANIES

Companies featured in this issue include:

Top 6 Merchant Acquirers Worldwide—Ranked by Transactions in 2019

Market Shares of Top 10 Acquirers vs the Remaining 140

Largest 150 Merchant Acquirers Worldwide–Ranked by Total Purchase Transactions

Top 10 Issuers of Visa and Mastercard Credit Cards in the U.S. at Midyear

100 Largest U.S. Mastercard/Visa Credit Card Issuers Midyear 2020—Ranked by Purchase Volume

100 Largest U.S. Mastercard/Visa Credit Card Issuers Midyear 2020—Ranked by Outstandings

Buy Now, Pay Later Deals in 2020–through September 30

POS Terminal Manufacturers–Other POS Devices Shipped in 2019

Top Issuers of General Purpose Credit Cards in the U.S.—Midyear 2020

Top Issuers of General Purpose Credit Cards in the U.S.—Midyear 2020

The 12 largest U.S. issuers of Visa, American Express, Mastercard, and Discover credit cards at midyear 2020 are ranked by Purchase Volume and Outstandings. Purchase volume reflects spending from January 1, 2020 through June 30, 2020.

1. JPMorgan Chase,
$347.71 billion purchase volume
2. American Express,
$322.34 billion purchase volume
3. Citi,
$185.25 billion purchase volume
4. Bank of America,
$161.50 billion purchase volume
5. Capital One,
$160.09 billion purchase volume

Full access to the Top Issuers of General Purpose Credit Cards in the U.S.–Midyear 2020 is available when you subscribe to the Nilson Report.

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POSTED SEPT 30, 2020 | PRINT

U.S. General Purpose Credit Card Issuers at Midyear

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

The 12 largest U.S. issuers of Visa, Mastercard, American Express, and Discover general purpose credit cards based on outstanding receivables collectively owned $735.68 billion in outstandings at June 30, 2020, down 10.7% or a decline of $87.96 billion from $823.64 billion at June 30, 2019.

Purchase volume—spending for goods and services—on cards issued by the 12 largest generated $1.462 trillion from January 1 through June 30, 2020, down 12.6% or a decline of $210.85 billion versus the same period in 2019.

Purchase volume and outstandings included consumer, small business, and commercial card products combined. American Express and Discover figures shown here include only their direct-issuing business. Purchase volume and outstandings tied to Amex and Discover cards issued by third parties are counted with those issuers.

The industry total for U.S. general purpose credit card outstandings was $854.66 billion at June 30, 2020, down 10.2% from $951.92 billion at June 30, 2019.

Market share increases in credit card outstandings were led by Discover, which gained 61 basis points (bps), Capital One was up 36 bps, Navy FCU was up 35 bps, U.S. Bank was up 19 bps, Citi was up 8 bps, Synchrony was up 5 bps, and Chase was up 2 bps. 

Navy Federal Credit Union was the only issuer that had an increase in outstandings (up 6.3%). It moved ahead of USAA and Synchrony into 10th place. Owing to the acquisition of the Walmart portfolio, Capital One moved to 4th place, ahead of American Express, which had the largest decrease (down 21.3%). U.S. Bank moved ahead of Wells Fargo into 7th place. 

The U.S. industry total for general purpose credit card purchase volume for the first six months of 2020 was $1.699 trillion, down 10.7% or a decline of $204.59 billion from $1.904 trillion for the first six months of 2019.

Every issuer among the 12 largest experienced a decline in purchase volume. Collectively, this group accounted for 86.07% of the industry for midyear 2020, down from 87.89% for midyear 2019. Capital One had the highest increase in market share, up 18 basis points, followed by Discover, up 15 basis points, Comdata, which was up 10 basis points, edged PNC Bank ($18.53 billion) out of the top 12. 

Historically over the last decade, the top five issuers at midyear accounted for the greatest share of the industry total for purchase volume at midyear 2009 with 72.76%. At midyear 2015, their share had declined to 69.18%. At midyear 2020, that share was 69.26%. The same issuers were among the top five for each of those years: Chase, American Express, Citi, Bank of America, and Capital One.

Prior issues: 1162, 1140, 1116, 1093



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