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Spending topped $20 Trillion on AmEx, Diners Club/Discover, JCB, Mastercard, UnionPay, Visa in 2016
May 19, 2017
The next time you have a bad day, know this: No matter what, payments is a hot industry. Really hot. With all numbers totaled, last year ended with another record: $20 trillion processed globally through American Express, Discover, Diners Club, JCB, MasterCard, Union Pay and Visa. That’s a lot of bucks and represents more than 50 years of year-over-year growth.
• Global card purchase volume for goods and services, which excludes cash advances on credit cards and cash withdrawals on debit cards, grew by 5.8 per cent to $20.606 trillion in 2016
• UnionPay debit cards were the most popular payment product based on purchase volume, followed by Visa credit cards, Visa debit cards, UnionPay credit cards, Mastercard credit cards, Mastercard debit cards, American Express cards, JCB cards, and Diners Club/Discover cards
There are 7.3 billion people on the planet of all shapes, colors and sizes; as a planet, we generated 257.2 transactions, or 35 per person, or in the addressable market
Visa cards generated 54.06 per cent of all purchase transactions on general purpose cards worldwide. Debit cards with the Visa brand continued to account for the most purchase transactions with a share of 34.82 per cent, followed by Visa credit cards with 19.23 per cent.
• Mastercard debit cards had a 13.3 per cent share, overtaking Mastercard credit cards with a 12.87 per cent share.
• UnionPay credit cards had a 7.59 per cent share, and UnionPay debit cards had a 7.32 per cent share.
• American Express had a 2.81 per cent share, followed by JCB cards with 1.15 per cent
• Diners Club/Discover cards with 0.91 per cent.
There are so many interesting use cases for branded payments that permit access to funds anywhere in the world, from traditional markets carrying dollars, euros or pesos, to tightly controlled switches that service Sharia compliant transactions. Digital or mobile, online or face-to-face, the volumes are massive and it’s not going away.
, Director, Credit Advisory Service at Mercator Advisory Group
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