Business First - - NEWS -

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 Union Pay 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. Union Pay, 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%. Union Pay’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, Union Pay’s share in­creased 738 ba­sis points to 47.19%. This gain made Union Pay 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.

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