The Nilson Report

Issue 1151 | Apr 2019


Companies featured in this issue include:

Top 10 Debit Card Issuers in the U.S. 2018

Investments & Acquisitions—March 2019

Debit Products Market Shares for Top 50 U.S. Issuers

Top 50 Debit Card Issuers—Ranked by Purchase Volume per Card

Top 50 Debit Card Issuers in the U.S.—Ranked by Purchase Volume 2018

Top 50 Debit Card Issuers—Ranked by Purchase Volume per Card

Issue #1151 features the 50 largest debit card issuers in the U.S. The chart on page 9 identifies those issuers ranked by annual spending per card in 2018. The top 5 are shown here.

1. Regions Bank
$10,078 purchase volume per card
2. Golden 1 Credit Union
$9,914 purchase volume per card
3. Arvest Bank
$9,618 purchase volume per card
4. Citizens Bank (Rhode Island)
$9,037 purchase volume per card
5. BB&T
$8,905 purchase volume per card

Full access to the Top 50 Debit Card Issuers—Ranked by Purchase Volume per Card results in the U.S. is available when you subscribe to The Nilson Report.



Limonetik Payment Gateway

France-based Limonetik provides a full-service payment gateway on a white-label basis that acquirers use to give merchants access to 125 payment methods covering 60 countries. By year-end 2019, 185 payment methods will be connected. Newly added countries will be concentrated in Asia and Africa. Acquirers need only a single API to reach all payment methods. 

Limonetik’s software-as-a-service model provides processing, acquiring, support for marketplaces, pay-out services, and more. The company has invested heavily in its reconciliation engine, which handles the complex back-office operations associated with alternative payment options and local-only credit and debit cards, including different formats, data, API, and settlement rules. The company’s platform can handle reconciliation for owners of marketplaces, which need to collect funds from buyers and independently make settlement with all sellers net of marketplace fees. Other services include collecting and reconciling funds when individual payments are split between prepaid cards and global credit and debit cards. The company began 11 years ago as a prepaid card processor. 

Limonetik, which is PCI DSS level 1 certified and holds a European Payment Institution license, handles payments that originate in 60 countries and manages 100 currencies. It is used by acquirers and others that have in-house capabilities to handle global card processing but need to offer their online merchants alternative payment options as well as collection of those payments. Limonetik can also process QR code payments initiated in a store. Last year the company processed $926 million (€822 million). This year it expects to handle $1.69 billion (€1.50 billion). 

Approximately 60% of all transactions Limonetik handles are for acquirers and other gateway providers, including ACI, Ingenico, Worldline, Verifone, Societe Generale, Credit Mutuel, Computop, and BNP Paribas. 

The remaining transactions are initiated at ecommerce merchants and marketplaces signed directly by Limonetik, including Rakuten, Conrad, Conforma, and Engie. 

Most of Limonetik’s equity is owned by venture capital firms. The company will open offices in the U.S. and Asia this year. 

Christophe Bourbier is Chief Executive Officer at Limonetik in Paris, France,

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