Nilson Report

Issue 1198 | May 2021

FEATURED COMPANIES

Companies featured in this issue include:

Top Issuers of Commercial Cards in the U.S.

Purchase Volume on U.S. Commercial Cards by Type with Market Share and Change in Purchase Volume

U.S. Visa & Mastercard Commercial Card Issuers Ranked by Purchase Volume in 2020

U.S. Corporate Cards

Purchase Volume on Corporate, Purchasing and Fleet Cards in the U.S.—2016 through 2020

U.S. Purchasing and Fleet Cards

Commercial Prepaid Cards in the U.S.

U.S. Business Credit Cards

U.S. Business Debit Cards

Publicly Traded Companies in Payments

Purchase Volume on U.S. Commercial Cards by Type with Market Share

Purchase volume on commercial cards issued in the United States totaled $942.2 billion in 2020 with purchasing/fleet and corporate cards accounting for a combined 34%, followed by business credit with 31%.

Purchasing/Fleet/Corporate
$321.6 billion
Small Business Credit
$286.2 billion
Small Business Debit
$173.0 billion
Prepaid
$161.3 billion

Full access to the Purchase Volume on U.S. Commercial Cards by Type results including market share and change in purchase volume is available when you subscribe to the Nilson Report.

< BACK TO NEWSLETTER ARCHIVE

POSTED MAY 31, 2021 | PRINT

U.S. Issuers of Commercial Credit & Debit Cards

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

Ranked by purchase volume generated in 2020, the largest issuers of Visa and Mastercard commercial credit, debit and prepaid card products are listed on pages 6, 7, 8 and 9. The rankings cover corporate travel and entertainment (T&E), fleet and purchasing, business credit, business debit and prepaid (government benefits, etc.). 

Among the 16 issuers with purchase volume greater than $10 billion for all commercial card products combined (credit, debit and prepaid) was Bank of America. It overtook JPMorgan Chase as the largest commercial card issuer in 2020, propelled by a 397.8% increase in prepaid purchase volume tied to government benefits products. That increase was largely due to enhanced unemployment compensation tied to Covid-19 relief. 

U.S. Bank moved into 3rd place. Its growth was also due to a large increase in commercial prepaid card purchase volume (up 363.8%). Comerica moved up to 8th from 11th. At Comerica, commercial prepaid purchase volume increased 47.4%. MetaBank moved up to 11th from 13th. KeyBank jumped to 14th from 22nd due to its 821.1% increase in commercial prepaid purchase volume.

Based solely on commercial credit cards (omitting business debit and commercial prepaid), there were 10 issuers with more than $10 billion in purchase volume. JPMorgan Chase remained the largest when measuring combined purchase volume for corporate T&E, purchasing/fleet and business credit cards. However, the bank’s commercial credit card purchase volume of $125.57 billion was down 8.2% from 2019. 

The second largest commercial credit card issuer was Bank of America based on purchase volume of $87.40 billion, a decline of 14.1%. The third largest issuer was Capital One. It had commercial credit card purchase volume of $66.22 billion, down 4.9%. U.S. Bank was fourth largest at $60.68 billion, down 17.0%. Citibank was fifth largest at $53.22 billion. Its commercial credit card purchase volume fell 25.1%. 

Wells Fargo was 6th largest with commercial credit card purchase volume of $39.80 billion, down 19.5%. Comdata (7th largest) had purchase volume of $39.25 billion. With a decline of only 2.3%, it had the best performance among the top 10 issuers. PNC Bank (8th largest) had purchase volume of $20.29 billion, down 13.4% It was followed by Wex in 9th place with $18.59 billion, a drop of 46.5%. Truist was 10th largest with purchase volume of $12.03 billion, down 14.0%.

Top issuers based only on business debit and commercial prepaid cards combined were led by Bank of America. It has been the largest issuer since 2011. Last year, its purchase volume of $80.39 billion grew 84.3% over 2019. Its prepaid card purchase volume was up 397.8% and its debit card volume increased 8.9%. 

Second largest among combined business debit and commercial prepaid purchase volume was Wells Fargo with $39.94 billion, an increase of 1.0%. 

The next largest issuers in this measurement were The Bancorp Bank with purchase volume of $32.12 billion, down 5.3%, Comerica Bank with $31.01 billion, an increase of 45.6%, which included prepaid cards up 47.4% and its small portfolio of debit cards down 6.0%. MetaBank purchase volume of $22.18 billion, which was tied exclusively to prepaid cards, increased 8.4%.

The highest average transaction amount among the products and issuers shown in the tables for 2020 was $503, generated by purchasing and fleet cards (which include Visa One Card and Mastercard Multi Card products). 

The second highest average transaction amount was generated by business credit cards at $188, followed by corporate (T&E) cards with an average transaction amount of $176, business debit cards at $106 and commercial prepaid cards at $46.



© Copyright 2021 Nilson Report

You have 2 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.