Nilson Report

Issue 1171 | Mar 2020

FEATURED COMPANIES

Companies featured in this issue include:

Top Acquirers in the U.S.

Investments & Acquisitions—February 2020

U.S. Acquirer Totals 2019—Purchase Volume/Transactions

Merchant Acquirers in the U.S. 2019—Ranked by Visa/Mastercard Volume

U.S. Card Not Present (CNP) Acquiring 2019

Merchant Acquirers in the U.S. 2019 Ranked by Visa/Mastercard Volume

The table on pages 10 and 11 presents the 65 largest merchant acquirers in the U.S. ranked by Visa and Mastercard purchase volume handled in 2019. The five largest are shown here.

1. Chase Merchant Services, New York
$1,147.67 billion purchase volume, +10.1%
2. Bank of America Merchant Services, Georgia
$719.93 billion purchase volume, +5.2%
3. FIS (includes Worldpay), Florida
$707.84 billion purchase volume, +4.9%
4. Wells Fargo Merchant Services, California
$513.26 billion purchase volume, +21.9%
5. Global Payments (includes Tsys), Georgia
$507.39 billion purchase volume, +7.4%

Full access to the Merchant Acquirers 2019 Ranked by Visa and Mastercard Purchase Volume results in the United States is available when you subscribe to The Nilson Report. 

< BACK TO NEWSLETTER ARCHIVE

POSTED MAR 16, 2020 | PRINT

Top U.S. Merchant Acquirers

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

More than 30 merger and acquisition transactions occurred in the U.S. merchant acquiring business in 2019. Those deals were identified on page 10 of Nilson Report issue 1167. The largest transactions were Worldpay, which was sold to FIS; First Data, bought by Fiserv; Tsys, which sold itself to Global Payments; and the merger of SunTrust and BB&T to create Truist.

On pages 10 and 11, we identify the owners of the 65 largest portfolios of merchant card acceptance contracts in the U.S. for acquiring payments from American Express, Discover, Diners Club, JCB, Mastercard, Visa, and UnionPay credit, debit, and prepaid global brand cards as well as domestic-only debit card payments from networks led by Interlink, Star, Nyce, Pulse, and Accel. Those acquirers are ranked by the Visa and Mastercard purchase volume they handled last year. 

Their figures include transactions settled on behalf of payment facilitators/aggregators, including Adyen, PayPal, and Square, as well as independent sales organizations (ISOs). 

For now, Fiserv wants its merchant services business to operate under the First Data name. First Data figures shown in the graphics on pages 1 and 9 include only business from merchant contracts for which it was 100% owner. Those included revenue-sharing and agent processing agreements with Citi, Santander, SunTrust (now Truist), and BBVA. 

FIS (Worldpay and FIS combined), Chase Merchant Services, First Data, Bank of America Merchant Services, and Global Payments (Global Payments and Tsys combined) were the five largest U.S. merchant acquirers based on general purpose card purchase transactions, payments made for goods and services, handled in 2019. Chase moved slightly ahead of First Data in 2019.

Purchase transactions handled by the five largest reached 103.56 billion in 2019, up 6.8% over 96.95 billion the prior year when including the acquisitions in the 2018 figures.

Five years ago, the top five were First Data, Vantiv (now with FIS), Bank of America, Chase, and Heartland (now with Global Payments). Purchase transactions they handled totaled 64.85 billion.

Ten years ago, Bank of America, First Data, Fifth Third (now with FIS), Chase, and Heartland were the five largest. Purchase transactions they handled totaled 41.91 billion.

When measuring general purpose card purchase volume in 2019, the five largest acquirers were Chase, FIS, Bank of America, First Data, and Global Payments, which overtook Wells Fargo. Collectively, this group handled $5.145 trillion, up 6.8% when including the acquisitions in the 2018 figures. 

Five years ago, the top five ranked by general purpose card purchase volume were Chase, Bank of America, First Data, Vantiv, and Elavon. Their purchase volume totaled $3.183 trillion.

Ten years ago, the five largest by purchase volume were First Data, Bank of America, Chase, Vantiv, and Elavon. Their purchase volume totaled $2.214 trillion.

For 2019, acquirers ranked 6 through 10 based on general purpose purchase transactions processed were Wells Fargo, Elavon, Paysafe, Truist, and Priority Payment Systems. Collectively, they handled 14.24 billion purchase transactions.

Five years ago, the acquirers ranked 6-10 based on general purpose purchase transactions were Elavon, Worldpay, Wells Fargo, Global Payments, and PNC. Their purchase transactions totaled 12.74 billion.

Ten years ago, those ranked 6-10 were RBS Worldpay, Elavon, Global Payments, Wells Fargo, and First National (which was included with TransFirst, Tsys, then Global Payments). Their purchase transactions totaled 8.48 billion.

For 2019, acquirers ranked 6 through 10 based on general purpose purchase volume were Wells Fargo, Elavon, PNC, Truist, and Paysafe. That group acquired $1.123 trillion in purchase volume.

Five years ago, those ranked 6-10 based on general purpose purchase volume were Wells Fargo, Global Payments, Heartland, Worldpay, and PNC. Their purchase volume totaled $705.77 billion.

Ten years ago, those ranked 6-10 were Global Payments, Wells Fargo, Heartland, Worldpay, and First National. Their purchase volume totaled $487.72 billion.

First Data figures in the table on pages 10 and 11 ranked by Visa and Mastercard purchase volume are for First Data business acquired directly, so they exclude transactions, volume, etc. for Citi, SunTrust (now Truist), Santander, and BBVA. Those portfolios are listed separately. 

Acquirers with more than $5.00 billion in American Express, Discover, Diners Club, UnionPay, and JCB credit card purchase volume combined (shown as Other Credit in the table on pages 10 and 11) in 2019 were Chase ($168.41 billion), FIS ($123.93 billion), Bank of America ($90.55 billion), Elavon ($51.13 billion), Global Payments ($48.22 billion), Wells Fargo ($43.47 billion), First Data ($43.23 billion), PNC ($12.44 billion), Intuit ($9.85 billion), Priority Payment Systems ($7.96 billion), Paysafe ($7.65 billion), and EVO Payments ($6.47 billion).

Acquirers with more than $5.00 billion in PIN debit purchase volume in 2019 were FIS, First Data, Bank of America, Chase, Global Payments, Wells Fargo, Elavon, Truist, PNC, and Paysafe. 

Joint ventures (JVs) in which First Data shared ownership of the contracts with bank partners are counted independently. Those JVs are with Bank of America, Wells Fargo, and PNC. Bank of America plans to end its joint venture with First Data in June when its contract expires, but the firms will service existing clients through at least June 2023. 

When combining all purchase transactions processed, including those from its Bank of America, Wells Fargo, and PNC joint ventures, First Data was the largest in the U.S. It handled 58.63 billion purchase transactions in 2019, up 6.9%. Purchase volume of $2.716 trillion grew 7.3%.



© Copyright 2021 Nilson Report

You have 0 free articles remaining. Subscribe today. View Subscription Offer
New subscribers receive over 130 articles in the 22 issues published each year,
plus the last five years of issues (that's over 1,200 articles) on a searchable flash drive.