Nilson Report

Issue 1219 | May 2022


Companies featured in this issue include:

Europe’s Top Merchant Acquirers–Global vs. Domestic

Europe’s Top Acquirers of Domestic Debit and Credit Cards in 2021

Top Merchant Acquirers in Europe–Ranked by Visa/Mastercard Transactions

Europe’s Top Acquirers of Web Transactions

First Quarter Card Network Results

Largest U.S. Credit Card Issuers–1Q 2022

Visa & Mastercard Outstandings, Shares by Groups of 50

Third 50 Largest Visa/Mastercard Credit Card Issuers

Investment & Acquisitions–April 2022

Largest U.S. Credit Card Issuers–1Q 2022

The 15 largest U.S. issuers of general purpose and private label credit cards in the U.S. at the end of the first quarter of 2022 are ranked. The ranking is based on purchase volume. The five largest are listed here.

1. JPMorgan Chase
$252.80 billion
2. American Express
$233.57 billion
3. Citi
$128.20 billion
4. Capital One
$126.28 billion
5. Bank of America
$109.10 billion

Full access to the Largest U.S. Credit Card Issuers–1Q 2022 results is available when you subscribe to the Nilson Report.



U.S. Card Network Results First Quarter 2022

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

Consumer, business and commercial credit, debit and prepaid cards issued in the U.S. carrying American Express, Discover, Mastercard and Visa brands, combined with payments settled through Visa Direct and Mastercard Send, reached $2.188 trillion in the first quarter of 2022, an increase of 17.8% from the same period in 2021. 

Credit card purchase volume for all four brands combined was $1.217 trillion, up 29.0%. Credit card cash volume including balance transfers, ATM transactions, bank branch transactions and paper checks also grew 29.0% to reach $23.56 billion.

Mastercard credit card purchase volume grew 31.5%. Amex grew 31.4%. Visa grew 27.4% and Discover grew 22.7%. 

Total debit card volume increased 2.7% to $1.154 trillion. This includes purchase and cash volume on Visa and Mastercard debit and prepaid cards combined with Visa Direct and Mastercard Send volume.

Visa purchase volume on debit and prepaid cards increased 6.4% while Mastercard grew 5.6%. These modest single-digit increases were owing to first quarter 2021 debit volume of $914.00 billion, which included two federal government stimulus fund distributions on prepaid cards. When comparing first quarter 2022 debit payment volume of $970.55 billion to the $693.00 billion from two years prior—when there were no stimulus funds on prepaid cards—the increase was 40.1%.

Credit cards accounted for 39.07% of all purchase transactions in the first quarter of 2021, up from 35.20% in 2021. 

Visa cards accounted for 55.51% of all credit card transactions. However, its market share fell by 70 basis points (bps) from a year earlier. Mastercard’s market share was 24.39%, up 63 bps. American Express had a 13.50% share, up 10 bps. Discover had a 6.60% share, down 3 bps.

Visa’s share of debit card purchase transactions was 71.57%, up 49 bps. Mastercard’s share was 28.43%, down 49 bps.

Prior issues: 1197, 1175, 1157, 1132, 1112, 1088, 1065, 1041, 1017, 994, 971, 949

© Copyright 2022 Nilson Report

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