The Nilson Report

THE CURRENT ISSUE: Issue 1156 | Jun 2019

FEATURED COMPANIES

Companies featured in this issue include:

Europe Market Shares of Purchase Volume

Europe Market Shares of Purchase Transactions by Brand

Europe General Purpose Cards 2018 vs. 2017

Year-Over-Year Growth/Decline in Purchase Volume on Cards Issued in Europe 2000-2018

U.S. Visa/Mastercard Credit Card Issuers—Third 50 2018

Purchase Volume on U.S. General Purpose Cards

Purchase Volume at Merchants 2018—General Purpose Credit, Debit, and Prepaid Cards Issued in the U.S.

Purchase Volume at Merchants 2018—General Purpose Credit, Debit, and Prepaid Cards Issued in the U.S.

The 100 largest issuers of payment cards in the U.S. are ranked by purchase volume of combined credit, debit, and prepaid products for calendar year 2018.

1. JPMorgan Chase
$1,064.03 billion purchase volume, +10.9%
2. American Express
$754.92 billion purchase volume, +9.9%
3. Bank of America
$695.13 billion purchase volume, +7.7%
4. Wells Fargo
$481.80 billion purchase volume, +7.7%
5. Citibank
$436.55 billion purchase volume, +6.5%

Full access to the Purchase Volume at Merchants 2018—General Purpose Credit, Debit, and Prepaid Cards Issued in the U.S. results is available when you subscribe to The Nilson Report.

POSTED JUN 28, 2019 | PRINT

U.S. CARD SPENDING AT MERCHANTS

General purpose consumer and commercial credit, debit, and prepaid cards issued in the United States with Visa, Mastercard, Discover, and American Express brands combined with general purpose debit cards (Star, Pulse, Nyce, Interlink, Accel, and others) from EFT networks generated $6.699 trillion in purchase volume at merchants in 2018, up 10.1% from 2017.

Credit cards accounted for $3.678 trillion, up 9.7% over 2017.

Debit and prepaid cards accounted for $3.021 trillion, up 10.5%.

Cards that are co-branded with Visa, Mastercard, American Express, or Discover brands are included here. Private label credit cards such as store cards, gasoline cards, medical cards, etc. are not. Private label debit cards settled through the automated clearing house (ACH) and private label (closed loop) prepaid cards also are excluded. 

Credit card purchase volume market share was 54.90%, down from 55.07% in 2017. Debit and prepaid card market share was 45.10%, up from 44.93% the prior year. Debit cards gained market share for the first time since 2011. 

The top 10 issuers based on combined purchase volume remained in the same positions in 2018 compared to 2017. Combined purchase volume for that group totaled $4.379 trillion, an increase of 9.6%. Their market share declined 30 basis points to 65.36%, down from 65.66%.

JPMorgan Chase consumer and commercial credit, debit (including EFT network), and prepaid card purchase volume was a combined $1.064 trillion in 2018. It continued as the largest U.S. issuer, and was the first issuer to exceed $1.000 trillion. The bank has held the top spot for a decade. Its market share grew by 12 basis points to 15.88%. 

Capital One, the 6th largest issuer, had a share increase of 26 basis points to 5.51%. PNC Bank, the 9th largest, increased 1 basis point to 1.70%, and USAA, the 10th largest, increased 4 basis points to 1.60%.

The other 6 issuers in the top 10 had market share declines. American Express fell 2 basis points, even as it remained the 2nd largest issuer overall with a 11.27% share of the market. Bank of America, the 3rd largest, fell 22 basis points to 10.38%. Wells Fargo, the 4th largest, fell 16 basis points to 7.19%. Citibank, the 5th largest issuer, had a share decline of 22 basis points to 6.52%. U.S. Bank, the 7th largest, fell 8 basis points to 3.24%. Discover, the 8th largest, was down 4 basis points to 2.08%. 

As a group, issuers ranked 11th through 20th generated $579.84 billion in purchase volume, up 10.0%. Their market share remained unchanged at 8.66%. Navy Federal Credit Union, the 12th largest, had the biggest percentage increase in this group, up 19.1%, overtaking TD Bank, now the 13th largest, which was up 13.3%.

In the group ranked 21st through 30th, Green Dot Bank had the largest percentage increase in purchase volume, up 20.1%, moving it up to 26th largest from 28th. Comdata increased 19.2%, which moved it up to 22nd from 23rd. Huntington National was up 18.4%.

For those ranked 31st through 100th, 34 had double-digit increases in card purchase volume, led by Silicon Valley Bank (up 35.2%), MB Financial Bank (up 24.0%), OnPoint Community Credit Union (up 21.7%), Mountain America Credit Union (up 18.0%), Schools First Federal Credit Union (up 17.0%), BBVA Compass (up 16.0%), Arvest Bank (up 15.6%), Randolph Brooks Federal Credit Union (up 15.4%), BancFirst and Delta Community Credit Union (each up 15.2%), and Members 1st Federal Credit Union (up 15.0%).

The top five issuers by card type were: credit cards—American Express, JPMorgan Chase, Citibank, Bank of America, and Capital One; signature debit—Wells Fargo, Bank of America, JPMorgan Chase, PNC Bank, and U.S. Bank; PIN debit—Wells Fargo, Bank of America, JPMorgan Chase, ICBA Bancard, and PNC Bank; and prepaid—The Bancorp Bank, MetaBank, Green Dot, Comerica Bank, and JPMorgan Chase.

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