CARPINTERIA, Calif., Feb. 27, 2019 (GLOBE NEWSWIRE) -- Spending for goods and services generated by Mastercard and Visa credit, debit, and prepaid cards issued in the United States was $6.021 trillion in 2018, an increase of 9.5% over 2017.
Purchase volume on Mastercard cards grew 10.9%. Purchase volume on Visa cards increased 10.5%. Visa purchase volume market share, at 70.56% for 2018, was down from 70.65% in 2017. This was the first time Mastercard had increased its market share versus Visa since 2012, according to The Nilson Report, for 48 years the leading card and mobile payment industry trade publication.
“Last year, credit, debit and prepaid card payments to purchase goods and services initiated by Visa, Mastercard, American Express and Discover cards issued in the United States surpassed 100 billion for the first time,” said David Robertson, Publisher of The Nilson Report.
Visa credit card purchase volume grew 10.1% last year to $1.956 trillion. Mastercard credit card purchase volume reached $810.90 billion, up 9.1%. In 2018, the credit card average purchase amount was $84 for cards issued in the U.S., up 0.9% versus 2017. Visa’s average credit card purchase amount was $82. Mastercard’s average credit card purchase amount was $89.
Outstanding debt on Mastercard and Visa credit cards combined grew 4.8% to $780.65 billion as of December 31, 2018. Mastercard issuers experienced growth of 6.1% to $309.51 billion. Visa issuers experienced growth of 3.9% to $471.13 billion.
There were 1.32 billion Visa and Mastercard credit, debit, and prepaid cards in circulation at year-end 2018, a gain of 59.2 million cards over 2017.
About The Nilson Report
The Nilson Report is the most respected provider of news and information about the global card and mobile payment industry. Available worldwide by subscription only, The Nilson Report directly surveys over 2,000 financial institutions to produce statistics about issuers, acquirers, and technology providers not available from any other source. The twice-monthly newsletter also includes informative articles, concise updates about new products and services, listings showing investments and acquisitions among companies in the payment system, and information about executive appointments. The Nilson Report does not accept advertising of any kind. No company can pay to be featured in The Nilson Report.
Contact:
Lori Fulmer
805-684-8800
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/46a9371f-6309-41ca-8f28-482d8fcf7d98