The Nilson Report

Issue 1128 | Mar 2018


Companies featured in this issue include:

Canada Market Shares of Purchase Volume 2017

Canada General Purpose Cards 2017 vs. 2016

Purchase Volume in Canadian Dollars 2013-2017

General Purpose Credit Card Issuers in Canada 2017-Ranked by Outstandings

Canada Market Shares of Visa & Mastercard Outstandings

Second 50 Largest Mastercard & Visa Credit Card Issuers in the U.S. 2017-Ranked by Outstandings

Second 50 Largest Mastercard & Visa Credit Card Issuers in the U.S. 2017-Ranked by Outstandings

The credit card issuers ranked 51st to 100th largest in the U.S. based on outstanding receivables are featured on the table on pages 10 and 11. (The first 50 largest were ranked in issue 1126.)

51. Virginia Credit Union, Virginia
$342.3 million outstandings, +0.3%
52. Santander Bank, Massachusetts
$342.2 million outstandings, +10.8%
53. Comdata, Tennessee
$340.2 million outstandings, +34.0%
54. First Hawaiian, Hawaii
$328.9 million outstandings, -4.6%
55. First Tech FCU, Oregon, California
$307.0 million outstandings. +30.4%

Full access to the Second 50 Largest Mastercard & Visa Credit Card Issuers in the U.S. 2017-Ranked by Outstandings results is available when you subscribe to The Nilson Report.



E-ZPass Mobile Payments for Retail

Toll-collection authorities in 17 states promote electronic payment for road, bridge, and tunnel charges through an interagency co-marketing deal called E-ZPass. The 30-year-old E-ZPass system currently involves 35 million vehicles that use on-board radio frequency transponders to trigger debits from prepaid accounts to make payments. Users drive through dedicated lanes with transponder readers rather than stopping to pay at tollbooths. Prepaid accounts are linked to a consumer’s bank or credit/debit card account and are topped up to $40 after every transaction.

A start-up called Verdeva/PayByCar has received a contract from the E-ZPass Group to offer consumers PayByCar—Driven by E-ZPass, a mobile payment option at participating convenience store/gasoline retailers that will leverage their existing transponders. A pilot test is scheduled in Massachusetts for the second quarter of this year. Consumers will link a credit, debit, or prepaid Visa, Mastercard, American Express, or Discover card to their PayByCar account for purchases at the pump and any items inside the site’s convenience store.

Verdeva says all PayByCar accounts will involve tokenized transactions. Proprietary Verdeva reader devices at the pump will connect to a vehicle’s transponder to initiate transactions. Security includes two-factor authentication to a user’s mobile phone through a text message, which can also be used to deliver a marketing message from the station’s owner. Authorization, clearing, and settlement of PayByCar transactions will be handled by the station’s existing acquirer.

Consumers do not have to download an app to participate in PayByCar, which Verdeva expects will result in better acceptance over any merchant’s mobile loyalty program that does require a download. PayByCar integrates with any existing loyalty program. Because it uses two-factor authentication, Verdeva expects it can reduce the number of screen prompts gasoline buyers currently face when paying with a credit or debit card.

Anand Raman is President at Verdeva/PayByCar, Inc. in Boston, Massachusetts, (617) 997-2667,,

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