Nilson Report

Issue 1161 | Sep 2019


Companies featured in this issue include:

Top U.S. Issuers of Visa & Mastercard Credit Cards Based on Spending at Midyear

Investments & Acquisitions—August 2019

U.S. General Purpose Cards Midyear ’19 vs. Midyear ‘18

Market Share of Top 10 Acquirers vs. Remaining 140

Largest 150 Merchant Acquirers Worldwide 2018—Ranked by Transactions

Outstandings & Cards Midyear 2019—U.S. Visa/Mastercard Credit Card Issuers

Volume Midyear 2019—U.S. Visa/Mastercard Credit Card Issuers

Largest 150 Merchant Acquirers Worldwide 2018—Ranked by Transactions

The 150 largest acquirers of card transactions from merchants worldwide are ranked on page 9. The five largest are shown here. Figures include their global operations.

1. Worldpay
35.24 billion transactions
2. JPMorgan Chase
25.61 billion transactions
3. Bank of America
17.71 billion transactions
4. First Data
17.05 billion transactions
5. Sberbank, Russia
14.37 billion transactions

Full access to the Largest 150 Merchant Acquirers Worldwide 2018—Ranked by Transactions results is available when you subscribe to The Nilson Report.

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Verrency Cloud-Based Middleware

Card issuers, account processors, and others use cloud-based middleware from Verrency to launch new products and services using APIs while maintaining their existing issuing software without modification or replacement. Verrency’s real-time platform operates on Amazon Web Services (AWS) but can be modified for Microsoft Azure, Google Cloud, and other PCI-compliant cloud environments. Its standard service configuration has been tested at 3,000 transactions per second, per customer at under 100 millisecond latency with 99.999% availability. 

Middleware takes less time to deploy and is less costly than writing new code to modify legacy software or migrating to new technology. Verrency, which is PCI-DSS Level 1 certified, can complete a deployment, direct to market or to a sandbox, in four months. It has also built a partner network of over 40 companies, which, on a white-label basis, offer API-based services that issuers, processors, banks, and super-apps can use to redeem rewards, facilitate disbursements, round up payments to savings or charitable accounts, deliver installment credit to the point of sale, pay with points in real time, and access dozens of other use cases. 

One of those partners is Coinify. When connected to Verrency, Coinify lets banks give consumers the ability to use their cryptocurrencies and other virtual assets for payment at any Visa, Mastercard, or local-market-only merchant using existing card infrastructure. Coinify provides virtual currency to fiat currency conversion services anywhere in the world to businesses and individuals by way of a technology-agnostic gateway. 

Verrency, which signed its first client less than two years ago, operates on a software-as-a-service basis. Clients including FIS, Emirates NBD, eftpos, and Banco Davivienda pay a monthly minimum and a monthly per-card fee. Emirates NBD uses Verrency to operate its Liv credit card, which lets cardholders customize their own rewards program, including changing its parameters in real time. Neither Emirates NBD nor its processor, Network International, had to write special code to accommodate Liv cards. 

David Link is CEO at Verrency in Melbourne, Australia,,

Mark Højgaard is CEO at Coinify in Holte, Denmark,,

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