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Global e-payment cards generate $3trn purchase transactionsON MAY 11, 2016 12:28 AM / IN BUSINESS, NEWS / COMMENTS
By Babajide Komolafe
Consumers around the world used the six global electronic payment cards to
make 227 billion purchases valued at $3.11 trillion in 2015.
The six cards are Visa, UnionPay, MasterCard, JCB, Diners Club/Discover and
American Express.
This was revealed in the Global Card report 2015 published by The Nilson
Report, the top trade newsletter covering the card and mobile payment
industries.
12 0 0 0
File: Banking hall
The report indicated
while the volume of
purchase
transactions, which
includes all
commercial and
consumer credit,
debit, and prepaid
cards via the six
cards rose by 16.1
percent, the value of
transactions rose by
18 percent.
Cash advances on credit cards
The report stated, “Purchase volume for goods and services, which excludes
cash advances on credit cards and cash withdrawals on debit cards, grew by
18.0 percent or $3.110 trillion in 2015.
“Visa cards, which include both Visa Inc. and Visa Europe, accounted for 55.52
percent of all purchase transactions worldwide. Debit cards with the Visa brand
continued to account for the most purchase transactions with a share of 35.50
percent, followed by Visa credit cards with 20.02 percent, MasterCard credit
cards with 13.14 percent, MasterCard debit cards with 13.13 percent, UnionPay
credit cards with 6.79 percent, UnionPay debit cards with 6.00 percent, and
American Express cards with 3.21 percent.
JCB cards with 1.23 percent overtook Diners Club/Discover cards with 0.98
percent. Commenting on the results, David Robertson, Publisher of The Nilson
Report said, “When consumers worldwide reach into their wallets for a
payment card, more than half of the time, they use a Visa card.”
“UnionPay continued to have the highest percentage increase in purchase
transactions. Last year UnionPay credit and debit card purchase transactions at
merchants grew by 47.0 percent. Its year-over-year growth of 9.28 billion
transactions topped the 8.09 billion increase for MasterCard but trailed an
increase of 13.16 billion for Visa.
“Debit and prepaid cards accounted for 54.63 percent of purchase transactions,
up from 54.05 percent in 2014. Visa purchase transactions were 63.95 percent
debit, up from 63.71 percent. MasterCard purchase transactions were 49.98
percent debit, up from 47.86 percent. UnionPay purchase transactions were
46.90 percent debit, up from 46.00 percent.
“UnionPay debit cards were the most popular payment product based on
purchase volume, followed by Visa credit cards, which overtook Visa debit
cards. The fourth largest was UnionPay credit cards, followed by MasterCard
credit cards, MasterCard debit cards, and American Express credit cards.
“Credit, debit, and prepaid cards in circulation totaled 10.25 billion at the end of
2015, up 8.2 percent over year-end 2014. UnionPay accounted for 53.07 percent
of global brand cards in circulation, up from 52.09 percent, followed by Visa
with 28.95 percent, down from 30.23 percent, MasterCard with 15.35 percent,
up from 14.96 percent, American Express with 1.15 percent, down from 1.18
percent, JCB with 0.91 percent, down from 0.93 percent, and Diners
Club/Discover with 0.56 percent, down from 0.60 percent.
Of the total cards in circulation, 75.94 percent were debit, up from 74.61 percent.
Debit cards in circulation grew by 716.3 million compared to a 61.4 million
increase for credit cards.”
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