Nilson Report

Issue 1230 | Nov 2022

FEATURED COMPANIES

Companies featured in this issue include:

US Payment Cards Projected through 2026

US Payment Cards Projected—Purchase Transactions

US Payment Cards Purchase Volume—2021 vs. 2026

US Payment Cards Projected—Purchase Volume

US Payment Cards Projected—Cards

US Payment Cards Projected—Outstandings

US Payment Cards Projected—Cardholders

US Payment Cards Projected—Total Transactions

US Payment Cards Projected—Total Volume

US Outstandings in 2021

Top 50 General Purpose Card Issuers in Asia–Pacific

Top 50 Credit Card Issuers in Asia–Pacific

Top 50 Debit Card Issuers in Asia–Pacific

Publicly Traded Companies in Payments

Top 50 General Purpose Card Issuers in Asia-Pacific

The top 50 issuers of UnionPay, Visa, Mastercard, JCB, American Express, Diners Club and domestic-only credit cards in the Asia-Pacific region are ranked. The five largest Visa and Mastercard credit card issuers are listed here by purchase volume.

1. Sumitomo Mitsui Card, Japan
$153.40 billion purchase volume
2. China Construction Bank, China
$123.13 billion purchase volume
3. Mitsubishi UFJ Nicos, Japan
$101.95 billion purchase volume
4. Bank of Communications, China
$92.33 billion purchase volume
5. Westpac Banking, Australia
$91.57 billion purchase volume

Full access to the Top General Purpose Card Issuers results in Asia–Pacific is available when you subscribe to the Nilson Report.

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POSTED NOV 17, 2022 | PRINT

Payment Cards in the US Projected

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

General purpose and private label credit, debit and prepaid cards, consumer and commercial products combined, reached $9.773 trillion in purchase volume for goods and services in 2021, an increase of 22.5% from 2020. Credit card purchase volume of $4.848 trillion (up 25.0%) equaled 49.61% of the total compared with 48.64% in 2020. Purchase volume on debit and prepaid cards reached $4.924 trillion, up 20.2%. Combined credit and debit card purchase volume is projected to total $14.075 trillion in 2026, with 55.06% generated by credit cards and 44.94% generated by debit cards.

The largest market share of combined credit and debit card purchase volume last year was held by Visa debit cards with 28.71%. Visa credit cards had the second highest share at 24.59%, followed by Mastercard debit cards at 11.17%, Mastercard credit cards with 11.09% and American Express credit cards with 9.13%. All other cards combined—domestic debit; private label prepaid; store credit; Discover; oil company credit; medical credit; airline, car rental, hotel and restaurant credit; and ACH retailer debit—accounted for 15.31%. 

By 2026, Visa credit cards are projected to hold a 26.40% market share of purchase volume, followed by Visa debit cards at 26.05%, Mastercard credit cards at 13.06%, American Express credit cards at 11.02%, Mastercard debit cards at 9.58% and all other cards combined at 13.89%. 

Consumer and commercial general purpose and private label credit, debit and prepaid purchase transactions tied to all cards issued in the US reached 158.46 billion in 2021, an increase of 15.2% versus 2020. 

Purchase transactions on debit cards had a 67.63% market share in 2021, with credit cards accounting for the remaining 32.37%. By 2026, purchase transactions are projected to total 205.18 billion. Debit cards are projected to account for 64.30% and credit cards the remaining 35.70%. 

Last year, Visa debit cards held a 36.30% market share of combined credit and debit card purchase transactions. By 2026, they are projected to hold a 35.26% share.

Visa credit cards accounted for 17.28% of purchase transactions last year. By 2026, that share is projected to increase to 18.60%.

Mastercard debit cards held a 14.65% share of purchase transactions in 2021 but are projected to slip to a 13.11% share in 2026. Credit cards with the Mastercard brand held a 7.48% share in 2021. That share is projected to be 8.70% in 2026. 

Star, Pulse, Nyce, Accel and other debit card purchase transactions settled through the domestic-only debit networks, nearly all of which were PIN based, accounted for 11.54% of all debit and credit card purchases including Visa and Mastercard in 2021. By 2026, those networks are projected to hold a 11.16% share. Interlink, Visa’s PIN debit brand and Mastercard signature and PIN-based transactions are counted with Visa and Mastercard debit figures. 

There were 7.68 billion credit, debit and prepaid cards in circulation in the United States at year-end 2021, up 4.0% over 2020. By 2026, payment cards in circulation are projected to reach 8.84 billion.

Credit Cards Projected

Consumer and commercial general purpose and private label credit cards in circulation in the US totaled 1.10 billion at year-end 2021, up 0.6% over year-end 2020. 

Credit cards issued in the US are projected to reach 1.24 billion by year-end 2026.

US credit card purchase volume for goods and services reached $4.848 trillion in 2021, an increase of 25.0% over 2020. Purchase volume initiated by credit cards in 2026 is projected to reach $7.749 trillion. 

General merchandise stores, specialty and department stores, gasoline stations, health and wellness facilities and other select locations open to private label credit cards accounted for a combined $287.31 billion in purchase volume in 2021, up 14.1% from 2020. By 2026, private label credit card purchase volume is projected to grow to $365.60 billion.

Purchase transactions on general purpose and private label credit cards combined totaled 51.29 billion in 2021, an increase of 19.7% over 2020. In 2026, purchase transactions are projected to reach 73.24 billion. 

Outstanding credit card receivables grew 6.7% to $1.070 trillion in 2021. By 2026, outstanding receivables are projected to reach $1.405 trillion. 

Debit Cards Projected

Purchase volume on general purpose and private label debit and prepaid cards issued in the US was $4.924 trillion in 2021, up 20.2% from 2020. The debit card market share for Visa was 56.97% of all debit card purchase volume, an increase from 54.44% in 2020. Mastercard’s market share grew to 22.18% from 22.09%.

Domestic-only network cards combined had purchase volume of $681.94 billion in 2021, an increase of 7.0% over 2020. Their market share slipped to 13.85% from 15.56% in 2020. 

Private label retailer debit cards, which are settled through the ACH (automated clearing house) network, generated purchase volume of $16.10 billion in 2021. This was an increase of 16.9% versus the prior year. General merchandisers, convenience stores and gasoline retailers issued those cards, which held a 0.33% market share in 2021, down from 0.34% in 2020. 

Private label prepaid cards generated $328.73 billion in purchase volume last year, an increase of 6.0% versus 2020. The market share of private label prepaid cards at 6.68% declined from 7.57% in 2020. General purpose prepaid card figures are included with the Visa and Mastercard debit card numbers.

By 2026, general purpose (including domestic networks) and private label (including prepaid) debit purchase volume on cards issued in the US is projected to be $6.326 trillion. Visa’s debit card purchase volume is projected to reach $3.667 trillion, with Mastercard at $1.348 trillion and domestic debit networks at $854.64 billion. 

Private label prepaid card purchase volume is expected to reach $427.58 billion, while ACH retailer debit card purchase volume is expected to reach $29.01 billion. 

General purpose and private label debit and prepaid cards combined generated 107.17 billion purchase transactions in 2021, up 13.2% over 2020. In 2026, purchase transactions on those card products are projected to reach 131.94 billion. 

Visa debit card purchase transactions are projected to reach 72.34 billion in 2026, with Mastercard at 26.90 billion, domestic debit networks at 22.89 billion, private label prepaid at 9.43 billion and ACH retailer debit at 0.37 billion.

As of December 31, 2021, general purpose and private label debit cards in circulation had grown to 6.58 billion, an increase of 4.6% versus 2020. At year-end 2026, those cards are expected to total 7.59 billion, led by private label prepaid cards (6.34 billion), followed by Visa (828.0 million), domestic debit networks (359.7 million), Mastercard (350.7 million) and ACH (38.7 million). 

Prior issues: 1207, 1185, 1163, 1141, 1119, 1097, 1074, 1051, 1028, 1005, 984, 961



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