Nilson Report

THE CURRENT ISSUE: Issue 1192 | Feb 2021


Companies featured in this issue include:

Top Issuers of General Purpose Credit Cards in the U.S.–Purchase Volume

Market Shares of Outstandings for Top U.S. Issuers in 2020

Top U.S. Credit Card Issuers in the U.S.

Top 50 Visa and Mastercard Credit Card Issuers in the U.S.

Top 50 Visa and Mastercard Credit Card Issuers in the U.S.

The 50 largest issuers of Visa and Mastercard credit cards in the U.S. are ranked by outstanding receivables as of December 31, 2020. The total for that group was $634.19 billion, down 14.3%. The 5 largest are listed here.

1. JPMorgan Chase, Delaware
$144.22 billion outstandings, -14.6%
2. Citi, South Dakota
$100.82 billion outstandings, -12.9%
3. Capital One, Virginia
$87.93 billion outstandings, -17.9%
4. Bank of America, Delaware
$87.24 billion outstandings, -18.9%
5. U.S. Bank, Ohio
$37.20 billion outstandings, -10.2%

Full access to the Top 50 Visa & Mastercard Credit Card Issuers results in the U.S. is available when you subscribe to the Nilson Report.



Postal Savings Bank in China is testing approximately 200 dual-application biometric fingerprint cards able to initiate contactless payments offline for the medical expenses of older consumers. That demographic is viewed as less willing to initiate payments with mobile phones, the form factor most commonly preferred by younger consumers. 

The payments are made using central bank digital currency (CBDC). For consumer payments, the formal name for China’s CBDC is Digital Currency/Electronic Payment. On cards, the terms e-yuan or eCNY will be printed to identify digital currency.

The Postal Savings Bank cards use sensor and inlay technology from Norway-based Idex Biometrics. The company’s technology integrates with a chip card’s existing secure element (SE). This is part of the Idex concept of minimizing components tied exclusively to the biometric application. The goal is to reduce the cost.

Idex offers a complete, purpose-built system for biometric payment cards. This is an alternative to competitors that offer card manufacturers individual components from multiple vendors. The company provides card manufacturers everything they need other than the SE. Biometric cards store the fingerprint template in the SE. For Postal Savings Bank, the digital currency is also stored in the SE, which is manufactured by Tongxin Microelectronics. 

The card manufacturer for the Postal Savings Bank cards has not been announced. Goldpac, a China-based card manufacturer, is one of two vendors in the country to receive certification from China UnionPay for fingerprint-based biometric cards. Three other top banks in China are expected to test dual-application biometric cards this year.

More than 1,500 years ago, China became the first country in the world to use banknotes. Today, the People’s Bank of China has an aggressive initiative to be the first large central bank in the world to issue digital currency as legal tender. 

Idex has global partnerships with Mastercard as well as Idemia, the world’s second largest payment card manufacturer. Together, the partners offer a turnkey biometric card product. Customers include MatchMove in Singapore and Malaysia.

Interviewed for this article

Vince Graziani is Chief Executive Officer at Idex Biometrics in Wilmington, Massachusetts,,

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