The Nilson Report

Issue 1135 | Jul 2018


Companies featured in this issue include:

Europe Market Shares of Purchase Volume 2017

Investments & Acquisitions—June 2018

Prepaid Cards in the U.S. 2017

U.S. Store Credit Cards 2017 vs. 2016

Europe Market Shares of Purchase Transactions by Brand

Europe General Purpose Cards 2017 vs. 2016

Year-Over-Year Growth/Decline in Purchase Volume on Cards Issued in Europe 2000-2017

U.S. Visa & Mastercard Commercial Cards Purchase Volume 2017

Prepaid Cards in the U.S. 2017

The 50 largest Visa, Mastercard, and Discover prepaid card issuers are ranked on page 6 based on purchase volume for goods and services in 2017.

1. The Bancorp Bank
$38.44 billion purchase volume, +5.2%
2. MetaBank
$35.28 billion purchase volume, +10.3%
3. Green Dot Bank
$21.60 billion purchase volume, +32.2%
4. Comerica Bank
$18.50 billion purchase volume, +2.9%
5. JPMorgan Chase
$16.40 billion purchase volume, +3.3%

Full access to the Top 50 Prepaid Cards in the U.S. 2017 is available when you subscribe to the Nilson Report.



Sutton Bank Card Issuing Services

State-chartered Sutton Bank, which operates eight branches in four counties in Ohio, has issued 11 million Visa, Mastercard, and Discover payment card accounts. More than 80% of those accounts are prepaid. Most are the reloadable type. Over the last seven years, Sutton has focused on providing corporate banking services to fintech companies as well as all payment card-related support, including regulatory compliance and governance issues, fraud management, settlement with card networks, BIN rental, and mobile wallet (Apple, Samsung Pay) sponsorship.

Sutton Bank initially provided services to customers of card account processor Marqeta, whose clients include Square. It has expanded its partnerships to processors i2c, Galileo, inComm, and FIS (North). Sutton Bank holds all funds tied to the prepaid cards marketed by program manager clients of those account processors. By the third quarter of this year, Sutton Bank will also be connected to First Data, CoreCard, and FIS (South). The bank looks for particular niches for prepaid cards. For instance, it likes the gaming, healthcare, payroll, and one-time-payment sectors.

Sutton Bank provides consulting services to card program managers, including deciding among one-time virtual payment products, corporate expense products, or POS lending products. Loan products can be created that pay out the borrowed money in multiple installments. Users of that product include healthcare providers.

Cards issued by Sutton Bank include Visa and Mastercard corporate cards; Visa, Mastercard, and Discover reloadable prepaid cards; Visa payroll cards; and Visa incentive cards.

Last year, purchase volume on all Sutton Bank issued card products was $3.50 billion, with 85% coming from prepaid. Cards connected to Sutton Bank include the Square Virtual Prepaid Visa, Wipit Reloadable Visa, Brex Corporate Visa, Sprint Money Express Prepaid Mastercard, Trust Card Prepaid Corporate Incentive Discover, and JH Preferred Prepaid Visa.

The bank’s expansion plans include ACH origination processing, merchant acquiring, and lines of credit (float loans). The company wants to be a one-stop cash management service for its customers.

Jeff Lewis is Senior VP-Prepaid at Sutton Bank in Attica, Ohio, (414) 788-1173,,

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