CALIFORNIA | According to the latest issue of The Nilson Report, the most popular payment method based on purchase volume were UnionPay debit cards, surpassing Visa credit and debit cards. UnionPay, established in 2002, is the national bankcard association in China.
Visa and MasterCard Market Share Dropped
When comparing credit card purchase volume only, Visa's market share of 39.22% was down 262 basis points where MasterCard's share dropped 158 basis points to 26.08%. UnionPay's share grew by 5.34% to 20.39%. American Express's share fell with more than 1% to 11.79%. JCB, the Japanese card scheme, improved its share by 3 basis points to 2.21%, and Diners Club's (including Discover Card) share declined 8 basis points to 0.32%.
Debit Card Scheme Comparison
When comparing debit card purchase volume only, UnionPay's share increased 738 basis points to 47.19%. This gain made UnionPay the largest general purpose debit card issuer based on purchase volume. Visa's share fell 605 basis points to 40.62%, and MasterCard's share declined by 133 basis points to 12.20%. Credit, debit, and prepaid cards in circulation totaled 8.33 billion at the end of 2013, up 13.3% or 975.0 million cards over year-end 2012. Visa brand credit, debit and prepaid cards initiated more than 101 billion payments at merchants last year, more than twice as many transactions as MasterCard, its nearest competitor.
About The Nilson Report
The Nilson Report is a highly respected source of global news and analysis of the card and mobile payment industries. The subscription newsletter provides in-depth rankings and statistics on the current status of the industry, as well as company, personnel, and product updates. David Robertson, Publisher of The Nilson Report, and a recognized expert in the field, is a frequent speaker at industry conferences, and is regularly quoted in publications worldwide. Over 18,000 readers in 90 countries value The Nilson Report to track industry trends and market information. Go to The Nilson Report website.
Sourced from PR Newswire, April 7th, 2014