Nilson Report

Issue 1196 | Apr 2021


Companies featured in this issue include:

Six Largest U.S. Debit Card Issuers—Purchase Volume in 2020

Largest U.S. Debit Card Issuers–Purchase Transactions 2010-2020

Top 50 Debit Card Issuers in the U.S.–Ranked by Purchase Volume in 2020

Top U.S. Debit Card Issuers–Ranked by Purchase Volume per Card

Market Shares of Debit Products Among Top 50 U.S. Issuers–Based on Purchase Volume in 2020

Top U.S. Debit Card Issuers–Ranked by Purchase Volume per Card

Issue 1196 features a ranking of the 50 largest issuers of Visa and Mastercard debit cards in the U.S. The five issuers shown here are the largest based on average amount of purchase volume for each of their cardholders in 2020.

FirstBank, Colorado
$13,009 per card
Golden 1 Credit Union
$11,637 per card
Regions Bank
$11,072 per card
$10,435 per card
First Horizon
$10,359 per card

Full access to the Top Debit Card Issuers–Ranked by Purchase Volume per Card results in the U.S. is available when you subscribe to the Nilson Report.

Thank you! Your free copy of this issue is now available in your email inbox.
The Nilson Report may contact me about
products and services of interest.

I have read and understand The Nilson
Report's Privacy Policy.



Paidy Buy Now, Pay Later in Japan

Japanese consumers prefer to pay for purchases with cash, including goods they buy online. Since 2014, Paidy has offered a service for consumers that make online purchases without having to be onsite to pay cash on delivery. 

After selecting Paidy as their online method of payment at more than 700,000 websites, consumers open an account using their mobile phone number to verify their identity via SMS message. The purchase is completed and consumers are billed once a month by Paidy. Invoices are received via SMS and can be paid online or at most convenience stores in Japan. 

Paidy’s service, which has been used by more than 5 million consumers, makes returning goods easier for both merchants and consumers. This has helped online apparel retailers in particular. Large businesses including Amazon and eBay-owned Qoo10 have adopted the service. Paidy is a payment option at 4 of the top 10 websites (ranked by traffic) in Japan.

Merchants that use Paidy are charged a discount rate of around 3.5%. Paidy says this is in line with the fees charged for mobile carrier billing, which is popular in Japan for more than digital content. Consumers who pay Paidy with cash at convenience stores are charged a fee of around $3.00 per transaction. If they link their bank account to Paidy online, there is no fee of any kind. 

In 2020, the company launched an installment payment option that allows for larger purchases to be paid off over three monthly payments. The installments are paid for on the same monthly Paidy bill. The company says that it is the only BNPL provider in the Japanese market that offers 0% interest loans. 

Paidy recently announced a partnership with PayPal to allow Japanese consumers to make purchases at any of the 29 million online merchants that accept PayPal worldwide. 

Consumers will use their Paidy app to link to a PayPal mobile wallet. Purchases that use the Paidy Link service will be settled in yen. They will operate with Paidy’s monthly billing model including 0% interest on installment payments. Paidy says it will launch similar mobile wallet integrations in the future. 

PayPal Ventures was an investor in Paidy’s Series C funding round in 2019. Paidy raised  $120 million from JS Capital Management, Soros Capital Management, Tybourne Capital Management and Wellington Management in its Series D round in March of this year.


Russell Cummer is Executive Chairman at Paidy in Tokyo, Japan,,

© Copyright 2021 Nilson Report

You have 1 free articles remaining. Subscribe today. View Subscription Offer
New subscribers receive over 130 articles in the 22 issues published each year,
plus the last five years of issues (that's over 1,200 articles) on a searchable flash drive.