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.

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Petal Credit Cards and Prism Data Analytics

More than 100,000 Petal credit card accounts have been opened since the third quarter of 2018. The company, which markets primarily to consumers who are new to credit cards, has spent the last three years refining its credit risk management system by categorizing more than 1,000 data points within a prospect’s monthly cash flow, analyzing how income, expenses and savings are relevant to issuing credit. It now operates the fourth iteration of its risk model.

Petal created cash flow-based decision models for cardholders who had thin or no files at the top credit bureaus, or who have files but are considered to be subprime or near-prime credit risks. Newly signed cardholders agree to provide Petal with ongoing access to their deposit account activity, so the company has a continuous stream of data points related to income, expenses and savings. Petal says its analysis contributes up to a 40% increase in potential approved accounts versus predictive models that use legacy credit bureau data.

The Petal Card program’s low delinquency rate was a factor in helping the company raise over $400 million over the last two years from Silicon Valley Bank, Trinity Capital and Jeffries in debt facilities to underwrite new card loans. Petal Card will continue to pursue new accounts among consumers with thin or no credit files and will add prospects among consumers with full credit bureau files but with derogatory credit information within the last seven years. Traditional credit card lenders avoid those consumers. Petal says its cash-flow underwriting model identifies good prospects among that group.

Credit cards with the Petal brand are issued by WebBank of Salt Lake City, Utah. Once booked, WebBank usually sells the outstanding receivables to Petal, which carries them on its balance sheet. While WebBank owns the accounts for their entire lifecycle, Petal services them. Customer service, fraud management, compliance and operations are handled from Petal offices in Richmond, Virginia. Marketing and product are handled from offices in New York. Account processing is handled by i2c.

The credit underwriting models Petal has created are of interest to other companies looking to market credit and financial products. Also interested are regulators and public policymakers. They see cash flow as an important factor that credit bureaus must add to their debt and repayment history data to help lenders reach credit-constrained consumers. 

Petal has created Prism Data to sell its technology on a business-to-business basis. WebBank is the first customer.

Prism Data will operate on an arm’s-length basis from Petal, which believes it will continue to grow its credit card portfolio even as it helps other companies tap prospects in the same underserved market. The pool of potential prospects is large. Approximately 70% of people in the U.S. that are 18 to 30 years old have subprime credit scores. The number of underserved consumers also includes immigrants to the U.S. and military personnel who lack credit bureau files.

Prism Data will offer four products accessible via APIs— Categories, Income, Insights and CashScore. Uses include income verification, tenant screening, fraud fighting and credit underwriting.


Jason Gross is Chief Executive Officer at Prism Data in New York,,

Prior issues: 1174, 1123

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