Nilson Report

Issue 1214 | Feb 2022


Companies featured in this issue include:

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

Market Shares of Outstandings for Top U.S. Issuers in 2021

Top 20 U.S. Credit Cards Issuers—Ranked by Outstandings, Purchase Volume, Purchase Transactions and Cards 2021

U.S. Mastercard and Visa Credit Card Issuers—Purchase Transactions

Top 50 Mastercard & Visa Credit Card Issuers in the U.S.

Global Brand General Purpose Cards

Publicly Traded Companies in Payments

Top 50 Mastercard & Visa Credit Card Issuers in the U.S.

U.S.-based issuers of Visa and Mastercard credit cards generated 39.45 billion transactions for purchases of goods and services in 2021. The five largest issuers are ranked below based on purchase transactions in 2021.

1. Chase, Delaware
11.26 million purchase transactions
2. Capital One, Virginia
5.19 million purchase transactions
3. Citi, South Dakota
4.66 million purchase transactions
4. Bank of America, Delaware
4.53 million purchase transactions
5. U.S. Bank, Ohio
1.48 million purchase transactions

Full access to the Top 50 Mastercard & Visa Credit Card Issuers results in the United States 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.



White-Label Buy Now, Pay Later Platform

Skeps provides technology on a white-label basis that other companies can use to deliver buy now, pay later (BNPL) point-of-sale financing programs to merchants. The BNPL technology operates on a blockchain. 

Within their own environment, lenders make available to Skeps a byte code version of their risk models. The private blockchain is used to execute credit evaluations within the merchant’s environment, where it can incorporate a buyer’s data. At all times, a lender’s proprietary information remains unknown to Skeps and the merchant. Skeps holds a U.S. patent on its distributed underwriting technology.

U.S.-based customers of Skeps include two banks and five fintechs. Collectively, they are handling $200 million a month in BNPL purchases. First National Bank of Omaha (FNBO) is one of those customers. It uses Skeps’s platform with retailers such as Scheels that are partners in co-branded credit card programs. The technology can be deployed quickly and helps protect co-brand card issuers from losing merchant partners to third-party BNPL specialists.

A test of the Skeps technology by one of the five largest U.S. banks began this month. Smaller lenders such as credit unions can also deploy the Skeps platform. The company seeks partnerships with banks that want to offer BNPL to their customers.

Skeps does not offer credit. It executes the risk and credit policies of its lenders and follows all regulatory guidelines. Any type of BNPL product can be supported and in any market worldwide. The company’s distributed underwriting capability can be used for instant credit approval for business-to-business BNPL transactions.


Tushar Srivastava is Chief Executive Officer at Skeps in New York,,

© Copyright 2022 Nilson Report

You have 0 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.