Credit Card Market Share Statistics

Last updated: December 28, 2023

Highlights. Three (3) companies process 96.8% of all credit card transactions worldwide: Visa, UnionPay, and Mastercard. 

  • Americans charged $5.83 trillion to their Visa cards in 2022, making it the largest card processor in the United States. 
  • Consumers charged $2.44 trillion to Mastercards, making it the nation’s second-most used charge card.
  • U.S. Consumers charged $1.08 trillion to their American Express brand cards. 
  • American consumers charged $211 billion to their Discover cards.
  • Credit card user penetration in the U.S. is 70%; 183.5 million Americans have a credit card account in their name.

*UnionPay does not disclose its global purchase volume.

Dual Pie Charts: Global and U.S. market shares according to Statista and Nilson Report

Credit Card Consumer Market Share

Visa is the world’s second-largest credit card processor with 4.17 billion cards active worldwide.

  • Americans used credit cards for an estimated 70.2% of total retail spending.
  • The United States credit card market is valued at $183.9 billion; projections indicate that the market will grow to $195.1 billion in 2025.
  • Over 75% of U.S. households have at least one general-use credit card.
  • American consumers have 589.6 million active credit card accounts, enough for every American adult to have 2 cards.
  • Citibank is the largest credit card issuer in terms of the number of accounts, with 95 million active accounts in 2020.
  • The largest credit card issuer in terms of payment volume is Chase Bank, which facilitated $1.143 trillion in 2022 payments.
  • Among the Top 15 credit card issuers, the Top 5 process 77.7% of their collective market payment volume.
  • Americans spent an estimated $4.5 trillion in purchases through the 15 largest U.S. networks in 2022.

Bar Graph: U.S. Credit Card Networks' 2022 Purchase Volumes in billions, including seven (7) networks ranging from Chase/JP Morgan ($1,143), Capital One ($535) and U.S. Bank ($191) according to Nilson Report

Credit Card Processor Market Share

The world’s largest credit card processors are based in the U.S. and China.

  • China’s UnionPay was the second most-used credit card worldwide in 2022 after Visa.
  • Mastercard has 2.7 billion cards active worldwide.
  • The four major U.S. processors (Visa, Mastercard, American Express, and Discover) facilitated $20.019 trillion in worldwide consumer transactions in 2022.
  • American Express has issued 76.7 million proprietary cards active worldwide; an additional 56.5 million active American Express cards were issued by third-party institutions.
  • The total number of transactions Visa processed reached 260 billion in FY 2023.

Line Graph: Credit Card Brand Share of Global Transactions, including Visa, UnionPay, Mastercard, and Other Brands according to Statista

Credit Card Processor Share of Market Value

Aggregate market value refers to the combined value of its equity stock shares. 

  • The four major credit card processors in the United States are valued at a collective $821.498 billion*. 
  • Visa Inc. has an aggregate market value of $364.9 billion or 44.4% of the total market value of the four major U.S. credit card networks.
  • Mastercard Inc. has an aggregate market value of $270.1 billion or 32.9% of the total market value of the largest U.S. credit card networks. 
  • The aggregate market value of the American Express Company is $104.0 billion or 12.7% of the total market value of the largest U.S. credit card networks.
  • Discover Financial Services has an aggregate market value of $82.5 billion or 10.0% of the total market value of the largest U.S. credit card networks.

*Note that market values include other financial markets beyond consumer credit.

Doughnut Chart: U.S. Credit Card Processors' Share: Purchase Volume * Share of U.S. processors' total global purchase volume totaling $20.019 trillion according to Statista

Credit Card Processor Revenue Share

Excluding UnionPay, credit card processor annual net revenue exceeds $66.8 billion. 

  • Visa’s global revenue for FY 2023 was $32.65 billion, up 11.4% YoY.
  • Mastercard’s revenue for fiscal year (FY) 2022 was $22.237 billion, up 17.8% YoY.
  • Discover’s revenue for FY 2022 totaled $4.392 billion, down 19.4% YoY.
  • American Express’s revenue for FY 2022 totaled $7.514 billion,  down 6.77% YoY.

Doughnut Chart: U.S. Credit Card Processors' Share: Active Cards * Share of U.S. processors' total number of cards active worldwide total 7.086 billion according to Statista

These data and insights were compiled by the Capital One Shopping team based on publicly available data.

Sources

  1. Federal Reserve (Fed) Bank of New York, Center for Microeconomic Data
  2. United States Census Bureau, Population and Housing Unit Estimates Tables
  3. Consumer Financial Protection Bureau, Consumer Credit Card Market Report
  4. U.S. Securiies and Exchange Commission, Corporate Filings
  5. Statista, Credit Cards Worldwide – Statistics and Facts
  6. Nilson Report, Newsletter Archives
  7. Fed Board of Governors, Credit Card Profitability
  8. IBISworld, Industry Statistics