23 April 2017
visit nextgenbanking.co.uk

China UnionPay overtakes Visa to become the world's most used debit card

10 April 2014  |  4853 views  |  0 Source: The Nilson Report

Purchases for goods and services from merchants worldwide in 2013 grew by $2.786 trillion or 22.0% to $15.422 trillion*.

The most popular payment method based on purchase volume were UnionPay debit cards, which for the first time surpassed Visa credit cards and Visa debit cards, according to the annual report, Global Cards, published in the current issue of The Nilson Report, the top trade newsletter covering the card and mobile payment industries. UnionPay, established in 2002, is the national bankcard association in China.

When comparing credit card purchase volume only, Visa's market share of 39.22% was down 262 basis points. MasterCard's share dropped 158 basis points to 26.08%. UnionPay's share grew by 534 basis points to 20.39%. American Express's share fell 109 basis points to 11.79%. JCB's share improved by 3 basis points to 2.21%, and Diners Club's share declined 8 basis points to 0.32%.

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.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit dh.com

Top topics

Most viewed Most shared
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
8780 views comments | 27 tweets | 16 linkedin
Western Union and MoneyGram unveil Facebook Messenger bots; Mastercard and Amex pile inWestern Union and MoneyGram unveil Faceboo...
8136 views comments | 16 tweets | 17 linkedin
hands typing furiouslyDoes the Buck Stop with GameStop?
7682 views 0 | 3 tweets | 7 linkedin
Alipay and WeChat near $3 trillion payments milestoneAlipay and WeChat near $3 trillion payment...
7624 views comments | 35 tweets | 36 linkedin
Bank of England accelerator to tackle Big Data and privacy in distributed ledgersBank of England accelerator to tackle Big...
6702 views comments | 19 tweets | 11 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job