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LargestPayment Card Issuersand Merchant Acquirers

a 2013 Nilson Report Publication

HSN Consultants Inc. 2013 THE NILSON REPORT, www.nilsonreport.com/largestissuers. Reproducing or allowing reproduction or dissemination of any portion of this document in any manner is a copyright

violation subject to substantial fines.

Worldwide

Fifth Edition

WORLDWIDEGlobal Overview ..................................................................................... 5Purchase Transactions at Merchants 2011 vs. 2010 ................... 5Global Cards 2011 .................................................................................. 5Global General Purpose Cards 2011 vs. 2010 .............................. 5 Total Volume, Purchase Volume, Cash Volume, Total Transactions, Purchase Transactions, CardsGlobal Debit & Prepaid Cards 2011 .................................................... 6Purchase Transactions on Global Cards 2011 .................................. 7 Change in Market Share in Basis Points 2011 vs. 2010 Credit Card Brands, Debit Card BrandsGlobal Credit Cards 2011 ...................................................................... 7Top 300 Issuers Worldwide 2011 ....................................................... 8 Ranked by General Purpose Purchase Volume All CardsTop 150 Credit Card Issuers Worldwide 2011 ................................10 Ranked by General Purpose Credit Card Purchase VolumeTop 150 Debit Card Issuers Worldwide 2011 .................................11 Ranked by General Purpose Debit Card Purchase VolumeLargest Credit Card Portfolios Worldwide by Country 2011 ...... 12Largest Maestro Issuers Worldwide 2011 .......................................13 Ranked by Purchase VolumeTop 150 Acquirers Worldwide 2011 .................................................14 Ranked by General Purpose Card Purchase Transactions

ASIA/PACIFICAsia/Pacific General Purpose Cards .................................................15Asia/Pacific Purchase Volume 2011 vs. 2007 .................................15

Table of Contents

Asia/Pacific General Purpose Cards 2011 vs. 2010 ................... 15 China UnionPay, Visa, MasterCard, JCB, American Express, Diners Club Total Volume, Purchase Volume, Cash Volume, Total Transactions, Purchase Transactions, CardsAsia/Pacific Top Card Issuers ..............................................................16Top 36 Debit Card Issuers in Asia/Pacific 2011 ..............................17Top 50 Credit Card Issuers in Asia/Pacific 2011 .............................17Top 50 General Purpose/Visa/MasterCard Card Issuers 2011 .... 18Top 147 Issuers in 22 Countries, General Purpose & V/MC ....... 19Asia/Pacific Issuers by Country, Credit vs. Debit 2011 ................. 22Asia/Pacific Top 20 Acquirers 2011 ..................................................26

CANADACanada Cards .........................................................................................27Purchase Volume Market Shares 2011 vs. 2001 ............................27Canada General Purpose Cards 2011 vs. 2010 ...........................27 Visa, Interac, MasterCard, American Express Total Volume, Purchase Volume, Cash Volume, Total Transactions, Purchase Transactions, CardsTop 22 Visa & MasterCard Issuers in Canada 2011 ....................... 28

EUROPEEurope General Purpose Cards .........................................................29Purchase Volume Market Shares 2011 ............................................29Europe General Purpose Cards 2011 vs. 2010 ...........................29 Visa, MasterCard, American Express, Diners Club Total Volume, Purchase Volume, Cash Volume, Total Transactions, Purchase Transactions, CardsTop 50 Debit Card Issuers in Europe 2011 ......................................30Top 50 Credit Card Issuers in Europe 2011 .....................................30Top 50 General Purpose/Visa/MasterCard Card Issuers 2011 .... 31Europe Largest Card Issuers ...............................................................32Top 238 Issuers in 42 Countries, General Purpose & V/MC ........ 33Europe Issuers by Country, Credit vs. Debit 2011 ......................... 38Europe Largest Merchant Acquirers 2011 ......................................45Europe Top 80 Acquirers 2011 ..........................................................45

LATIN AMERICALatin America General Purpose Cards .............................................47Purchase Volume 2011 vs. 2001 .......................................................47Latin America General Purpose Cards 2011 vs. 2010 ............... 47 Visa, MasterCard, American Express, Diners Club Total Volume, Purchase Volume, Cash Volume, Total Transactions, Purchase Transactions, CardsTop 50 Debit Card Issuers in Latin America 2011 .........................48Top 50 Credit Card Issuers in Latin America 2011 ........................48Top 50 General Purpose/Visa/MasterCard Card Issuers 2011 .... 49Latin America Top Card Issuers .........................................................50Top 148 Issuers in 27 Countries, General Purpose & V/MC ....... 50Latin America Issuers by Country, Credit vs. Debit 2011 ............ 54Latin America Top 35 Acquirers 2011 ..............................................59

MIDDLE EAST/AFRICAMiddle East/Africa General Purpose Cards ....................................60Purchase Volume 2011 vs. 2001 .......................................................60Middle East/Africa General Purpose Cards 2011 vs. 2010 ..... 60 Visa, MasterCard, American Express, Diners Club Total Volume, Purchase Volume, Cash Volume, Total Transactions, Purchase Transactions, CardsMiddle East/Africa Top Card Issuers .................................................61Top 34 Debit Card Issuers in Middle East/Africa 2011 ................. 61Top 38 Credit Card Issuers in Middle East/Africa 2011 ................ 61Top 50 General Purpose/Visa/MasterCard Card Issuers 2011 .... 62Top 75 Issuers in 24 Countries, General Purpose & V/MC ........... 63Middle East/Africa Issuers by Country, Credit vs. Debit 2011 .... 65Middle East/Africa Top 20 Acquirers 2011 .....................................68

UNITED STATESU.S. General Purpose Cards ................................................................69Purchase Volume Market Shares 2011 ............................................69U.S. General Purpose Cards 2011 vs. 2010 ..................................69 Visa Credit, American Express Credit, MasterCard Credit, Discover Credit, Visa Debit & Prepaid, MasterCard Debit & Prepaid, Total Volume, Purchase Volume, Cash Volume, Total Transactions, Purchase Transactions, Cards

Top 247 Issuers, General Purpose & V/MC ......................................70United States Credit vs. Debit 2011 .................................................75Purchase Volume at Merchants 2011 ..............................................81 Total, Credit, Signature Debit, PIN Debit, Prepaid U.S. Largest Merchant Acquirers.......................................................83Top 10 U.S. Merchant Acquirers 2011.............................................. 83 Ranked by Total Purchase Volume on General Purpose CardsUnited States Top 94 Acquirers 2011 ...............................................84

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GLOBAL CARDS 2011Transactions at merchants on cards carrying the American Express, Diners Club, JCB, MasterCard,

UnionPay, and Visa brands totaled 135.33 billion for 2011, up 14.56 billion or 12.1% over 2010. These purchase transactions include commercial and consumer credit, debit, and prepaid cards. Prepaid cards are included in debit figures. Visa figures include both Visa Inc. and Visa Europe.

While UnionPay had the highest percentage increase in purchase transactions (up 32.3%), it only added 1.56 billion transactions compared to an increase of 8.08 billion for Visa (up 10.2%) and 4.28 billion for MasterCard (up 14.1%).

Debit and prepaid cards accounted for 54.36% of purchase transactions, up from 53.87% in 2010. Visa brand purchase transactions were 64.61% debit, up from 64.31% in 2010. MasterCard purchase transactions were 40.23% debit, up from 38.45%. UnionPay purchase transactions were

Global Overview

Global General Purpose Cards 2011 vs. 2010 Dollar Volume (bil.) Transactions (bil.) Cards Brand Total Chg. Purchases Chg. Cash Chg. Total Chg. Purchases Chg. (mil.) Chg.

Visa Credit $2,987.41 11.1% $2,652.32 11.0% $335.09 11.4% 32.20 9.2% 30.97 9.2% 869.0 0.4%

MasterCard Credit $2,063.70 13.2% $1,804.00 13.9% $259.70 8.7% 21.68 10.6% 20.68 10.8% 705.4 4.1%

American Express Credit $822.20 13.2% $808.34 13.3% $13.86 5.9% 5.33 11.3% 5.24 11.5% 97.4 7.0%

UnionPay Credit $660.04 57.1% $636.78 57.5% $23.26 47.2% 3.43 31.1% 3.31 31.2% 285.0 24.1%

JCB Credit $165.76 12.7% $160.12 12.9% $5.64 6.4% 1.42 6.0% 1.39 6.1% 76.6 4.6%

Diners Club Credit $29.27 7.9% $27.80 8.5% $1.48 2.4% 0.18 6.1% 0.17 6.6% 5.9 3.1%

CREDIT CARD TOTALS $6,728.38 15.3% $6,089.36 15.8% $639.02 11.1% 64.24 10.8% 61.76 10.9% 2,039.3 4.9%

Visa Debit & Prepaid $5,408.79 12.3% $2,723.79 12.1% $2,685.00 12.5% 74.34 9.8% 56.55 10.7% 1,479.7 6.1%

UnionPay Debit $2,082.91 40.1% $1,721.66 41.9% $361.25 32.1% 5.27 29.3% 3.10 33.4% 2,664.0 21.9%

MasterCard Debit & Prepaid $1,184.90 21.5% $626.00 20.4% $558.90 22.7% 18.08 19.3% 13.92 19.4% 354.0 19.9%

DEBIT CARD TOTALS $8,676.60 19.2% $5,071.44 21.8% $3,605.16 15.7% 97.68 12.4% 73.57 13.1% 4,497.7 16.1%

Visa Total $8,396.20 11.9% $5,376.11 11.6% $3,020.09 12.4% 106.54 9.6% 87.52 10.2% 2,348.7 3.9%

MasterCard Total $3,248.60 16.1% $2,430.00 15.5% $818.60 17.9% 39.76 14.4% 34.60 14.1% 1,059.4 8.9%

VISA & MC TOTALS $11,644.80 13.0% $7,806.11 12.8% $3,838.69 13.5% 146.30 10.9% 122.12 11.3% 3,408.1 5.4%

UnionPay Total $2,742.95 43.9% $2,358.43 45.8% $384.51 32.9% 8.69 30.0% 6.41 32.3% 2,949.0 22.1%

CREDIT & DEBIT TOTALS $15,404.98 17.5% $11,160.80 18.5% $4,244.18 15.0% 161.93 11.7% 135.33 12.1% 6,537.0 12.4%

Includes all consumer and commercial credit, debit, and prepaid cards. Some prior year figures have been restated. Currency figures are in U.S. dollars. Change figures for dollar volume reflect a year-over-year comparison in local currency. Visa includes the sum of Visa Europe and Visa Inc. and includes Visa, Visa Electron, and Interlink brands. The Visa card figure excludes Plus-only cards (with no Visa logo). MasterCard excludes Maestro and Cirrus figures. American Express includes figures for third-party issuers. JCB figures include third-party issuers and other payment related products. Some figures are estimates. Diners Club figures are for the 12 months ended Nov. 30, 2011. 2013 The Nilson Report

2013 The Nilson Report

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VisaDebit

CUPCredit

VisaCredit

MCCredit

MCDebit

CUPDebit

JCBCredit

DinersCredit

AmexCredit

Purchase Transactions atMerchants Worldwide (Billions)

5 LARGEST PAYMENT CARD ISSUERS WORLDWIDETHE NILSON REPORT

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48.40% debit, up from 48.00%.

The number of credit, debit, and prepaid cards in circulation reached 6.54 billion at the end of 2011, up 12.4% or 718.7 million. UnionPay added the most cards (534.0 million) for a 22.1% increase. Visa followed with an increase of 88.5 million cards, up 3.9%. MasterCard added 86.4 million cards, up 8.9%, JCB added 3.3 million cards, up 4.6%, American Express added 6.4 million cards, up 7.0%, and Diners Club added 0.2 million cards, up 3.1%.

UnionPay accounted for 45.11% of cards in circulation, up from 41.51%, followed by Visa with 35.93%, down from 38.85%, MasterCard with 16.21%, down from 16.72%, American Express with 1.49%, down from 1.56%, JCB with 1.17%, down from 1.26%, and Diners Club with 0.09%, down from 0.10%.

Of the payment cards in circulation carrying these global brands, 68.80% were debit, up from 66.60%. UnionPays share of debit cards was 59.23%, Visas was 32.90%,

and MasterCards was 7.87%. Debit cards increased by 622.6 million compared to a 96.1 million increase for credit cards. The largest contributor to the increase in debit cards was UnionPay (up 478.6 million), followed by Visa (up 85.4 million), and MasterCard (up 58.7 million).

Debit cards accounted for 63.00% of Visas card base, up from 61.69%. For MasterCard, 33.41% were debit, up from 30.35%. For UnionPay, 90.34% were debit, down from 90.49%.

Total volume of consumer and commercial purchases and cash on these global card brands, credit and debit cards combined, increased by $2.295 trillion in 2011. Visa and MasterCard generated 75.59% of total volume, down from 78.59% in 2010.

In 2011 purchase volume for goods and services, which excludes cash advances on credit cards and cash withdrawals on debit cards, increased by $1.740 trillion or 18.5%. Visa and MasterCard

purchases accounted for $70 of every $100 in purchase volume, compared to $73 the prior year. Visa cards generated $48 of every $100, down from $51.

Of Visas purchase volume, 50.66% came from debit cards, an increase from 50.41% in 2010. For MasterCard, debit cards accounted for 25.76%, up from 24.72%. For UnionPay, debit cards accounted for 73.00%, down from 75.00%.

When comparing purchase volume on credit cards only, Visas share dropped 188 basis points, from 45.44% to 43.56%. MasterCards share fell 50 basis points, from 30.12% to 29.63%. American Expresss share dropped 29 basis points, from 13.56% to 13.27%. UnionPays share increased by 277 basis points, from 7.69% to 10.46%. JCBs share declined by 7 basis points, from 2.70% to 2.63%, and Diners Clubs share fell 3 basis points, from 0.49% to 0.46%.

When comparing purchase volume on debit cards only, Visas market share was down 465 basis points, from 58.36% to 53.71%, UnionPays share increased by 481 basis points, from 29.14% to 33.95%, and MasterCards share fell 15 basis points, from 12.50% to 12.34%.

Worldwide purchase volume on UnionPay debit cards was up 41.9% to $1.722 trillion and its credit card purchase volume was up 57.5% to $636.78 billion.

Cash volume on all credit, debit, and prepaid cards with global brands the combined advances against lines of credit and withdrawals from funds on deposit increased by $554.12 billion. For Visa, cash accounted for 35.97% of total volume, up from 35.80%. For MasterCard, cash accounted for 25.20%, up from 24.81%. For UnionPay, cash accounted for 14.02%, down

Visa MasterCard UnionPay Category 2011 Chg. 2011 Chg. 2011 Chg.

Transactions per Card 50.2 3.5% 51.1 0.5% 2.0 6.1%

Purchase Trans. 38.2 4.3% 39.3 0.4% 1.2 9.4%

as Percent of Total 76.1% 0.6 pt. 77.0% 0.1 pt. 58.9% 1.8 pts.

Cash Transactions 12.0 0.9% 11.7 0.7% 0.8 1.7%


Avg. Amt. per Trans. $73 2.3% $66 1.8% $395 8.3%

Average Purch. Amt. $48 1.3% $45 0.8% $555 6.4%

Average Cash Amt. $151 5.1% $134 3.2% $167 6.5%

Total Volume per Card $3,655 5.9% $3,347 1.3% $782 14.9%

Purchase Volume $1,841 5.7% $1,768 0.4% $646 16.4%


Cash Volume $1,815 6.0% $1,579 2.4% $136 8.3%

as Percent of Total 49.6% 0.1 pt. 47.2% 0.5 pt. 17.3% 1.1 pts. 2013 The Nilson Report

Global Debit & Prepaid Cards


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from 15.18%. For JCB, cash accounted for 3.40%, down from

3.60%. For Diners Club, cash accounted for 5.05%, down from 5.58%. For American Express, cash accounted for 1.69%, down from 1.80%.

Credit cards issued to U.S. cardholders with the Visa, MasterCard, and American

Express brands generated 36.78% of their total credit card purchase volume worldwide, down from 37.65% in 2010.

For American Express, the percent change in credit card purchase volume was slightly greater on cards issued inside the U.S. (13.4%) than on those issued outside the U.S. (13.2%). However, the number of American Express cards in circulation outside the U.S. increased by 4.7 million, while the number circulating in the U.S. increased by 1.7 million. The purchase volume per card issued outside the U.S. was $5,731, up 1.8%, while the purchase volume per U.S. card was $10,675, up 9.6%.

For MasterCard, the percent change in credit card purchase volume was significantly greater on cards issued outside

the U.S. (up 17.3%) than those issued inside the U.S. (up 6.1%). The number of MasterCard credit cards in circulation increased by 22.7 million outside the U.S. compared to a 5.0 million card increase inside the U.S. The purchase volume

per credit card issued outside the U.S. was $2,447 in 2011, up 12.2%, while the purchase volume per U.S. credit card issued was $2,891, up 3.1%.

For Visa, the percent change in credit card purchase volume was also greater on cards issued outside the U.S. (up 11.7%) than those issued inside the U.S. (up 9.7%). The number of Visa credit cards in circulation increased by 9.0 million outside the U.S. compared to a 5.9 million card decline inside the U.S. However, the purchase volume per credit card issued outside the U.S. was $2,779 in 2011, up 10.1%, while the purchase volume per U.S. credit card issued was $3,793 in 2011, up 12.5%.

Trans. per Card 37.1 8.9% 30.7 6.2% 54.7 4.0% 12.0 5.6% 18.6 1.4% 29.6 3.0%

Purchase Trans. 35.6 8.8% 29.3 6.5% 53.8 4.1% 11.6 5.7% 18.2 1.5% 28.2 3.4%

as % of Total 96.2% 0.0 pt. 95.4% 0.2 pt. 98.4% 0.2 pt. 96.5% 0.1 pt. 97.7% 0.1 pt. 95.2% 0.5 pt.

Cash Trans. 1.4 9.4% 1.4 1.7% 0.9 5.2% 0.4 3.3% 0.4 3.2% 1.4 5.9%


Avg. Amt. per Trans. $93 1.7% $95 2.4% $154 1.7% $193 19.8% $117 6.3% $166 1.7%

Avg. Purch. Amt. $86 1.6% $87 2.8% $154 1.7% $192 20.0% $115 6.4% $166 1.8%

Avg. Cash Amt. $272 1.5% $259 2.8% $160 4.4% $195 14.8% $174 5.1% $175 0.6%

Total Vol. per Card $3,438 10.7% $2,926 8.8% $8,441 5.8% $2,316 26.5% $2,165 7.8% $4,924 4.7%

Purch. Volume $3,052 10.6% $2,557 9.4% $8,299 5.9% $2,234 26.9% $2,091 8.0% $4,676 5.3%


Cash Volume $386 11.0% $368 4.5% $142 1.0% $82 18.6% $74 1.8% $249 5.3%


Visa MasterCard Amer. Express UnionPay JCB Diners Club Category 2011 Chg. 2011 Chg. 2011 Chg. 2011 Chg. 2011 Chg. 2011 Chg.


Global Credit Cards

Chg. in Brand Share Basis Pts.

Purchase Transactions on Global Cards 2011


Credit Cards

Chg. in Brand Share Basis Pts.

Debit Cards

Visa 50.1% 75

MasterCard 33.5% 1

Amex 8.5% 5

UnionPay 5.4% 83

JCB 2.3% 10

Diners 0.3% 1

61.76 bil.

Visa 76.9% 165

MasterCard 18.9% 101

UnionPay 4.2% 64

73.57 bil.


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