Nilson Report

Issue 1233 | Jan 2023


Companies featured in this issue include:

Global Network Payment Card Transactions Projected Worldwide

Market Shares of Purchase Transactions in 2022 by Region

Purchase Transactions Worldwide Global Brands–Projected through 2027

Ten-Year Growth in Global Brand Purchase Transactions–from 2012–2022

Ten Largest M&A Transactions in 2022

M&A Activity in Merchant Processing and Acquiring–Second Half of 2022

US General Purpose Card Brands through 3Q 2022 

Investments & Acquisitions–November 2022

US General Purpose Card Brands through 3Q 2022

Amex, Discover, Mastercard and Visa cards issued in the US generated $7.055 trillion in purchase volume in the first 9 months of 2022. Credit cards accounted for 56.8% of the total. The credit card purchase volumes are shown below.

$2,093.33 billion purchase volume
$967.44 billion purchase volume
American Express
$793.02 billion purchase volume
$154.98 billion purchase volume

Full access to the US General Purpose Card Brands through 3Q 2022 results is avail-able when you subscribe to the Nilson Report.

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FTC Challenges Mastercard

On December 23, 2022, the US Federal Trade Commission (FTC) issued an order requiring Mastercard to fully comply with the 2010 Durbin Amendment to the Dodd-Frank Act, which requires that debit card issuers enable a minimum of two unaffiliated networks on every debit card. The FTC says that the current practice of tokenizing online debit Mastercard transactions effectively locks those payments to the Mastercard network. This denies ecommerce merchants the opportunity to route payments to an alternative, less expensive network such as Star, Nyce, Pulse or Accel.

Tokens are integral to increasing the level of protection in the payment card industry. They are a unique sequence of numbers used to replace the card’s primary account number (PAN). If stolen, a token has no monetary value to the thief.

Online Visa debit card transactions are also tokenized. However, since 2018, Visa has offered a detokenization service, which lets ecommerce merchants route payments to an alternative network. 

The FTC ordered that Mastercard “... shall make available a PAN for the purposes of routing to any Payment Card Network that is enabled by the Issuer on the Debit Card corresponding to that PAN. For e-commerce, card-not-present Electronic Debit Transactions, Respondent shall do so in the ordinary course, including consistent with the timeliness that Respondent provides PANs in response to requests in card-present transactions using Mastercard Tokens, and without requiring consideration for making the PAN available.”

Mastercard confirms it has entered into an agreement with the FTC regarding the routing of tokenized debit card transactions at online merchants.

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