U.S. 2013 Credit and Debit Card Purchases Increased 8% Over 2012
Break $4 Trillion Barrier for First Time
CARPINTERIA, Calif.--(BUSINESS WIRE)--American Express, Discover, MasterCard, and Visa consumer and commercial credit, debit, and prepaid cards issued in the U.S. combined to generate $4.077 trillion in spending at merchants in 2013, up 7.9% from 2012, according to the annual report on U.S. General Purpose Credit Cards, published in the most recent issue of The Nilson Report, the top trade newsletter covering the card and mobile payment systems industries.
“Visa debit cards remain the most popular payment method of American consumers, followed by Visa credit cards”
Debit cards carrying the Visa brands generated $1.187 trillion in purchase volume last year. This was up 7.3% from 2012, and comprised more spending at merchants than any other debit or credit product available from other brands.
“Visa debit cards remain the most popular payment method of American consumers, followed by Visa credit cards,” said David Robertson, Publisher of The Nilson Report. Visa credit cards generated $1.079 trillion in spending at merchants last year, up 9.9% over 2012.
American Express’s $633.29 billion in credit card purchase volume was up 7.8% last year. Figures include the results from cards issued by network partners. Amex remained the second largest credit card brand in the U.S., a position it achieved for the first time in 2011.
MasterCard debit card purchase volume totaled $491.07 billion, up 9.5%, while MasterCard credit card purchase volume rose 4.9% to $560.12 billion.
Discover Card purchase volume rose 3.9% to $127.11 billion.
As of December 31, 2013, there were 1.14 billion general purpose credit, debit, and prepaid cards in circulation in the United States.
About The Nilson Report
The Nilson Report is a highly respected source of global news and analysis of the card and mobile payment industries. The subscription newsletter provides in-depth rankings and statistics on the current status of the industry, as well as company, personnel, and product updates. David Robertson, Publisher of The Nilson Report, and a recognized expert in the field, is a frequent speaker at industry conferences, and is regularly quoted in publications worldwide. Over 18,000 readers in 90 countries value The Nilson Report to track industry trends and market information.