CARPINTERIA, Calif.--(BUSINESS WIRE)--American Express, Diners Club/Discover, JCB, MasterCard, UnionPay, and Visa brand cards generated 195.56 billion transactions at merchants in 2014, an increase of 24.28 billion or 14.2% over 2013, according to the annual report Global Cards 2014, published in the current issue of The Nilson Report, the top trade newsletter cover the card and mobile payment industries. Purchase volume for goods and services grew by $2.832 trillion or 18.3% in 2014.
UnionPay debit cards were the most popular payment method by card type based on purchase volume, followed by Visa debit cards and Visa credit cards. UnionPay credit cards overtook MasterCard credit cards, and MasterCard debit cards overtook American Express credit cards.
Visa and MasterCard purchases accounted for $55 of every $100 in purchase volume last year, compared to $59 in 2013. Visa cards generated $37 of every $100, down from $40. UnionPay cards accounted for $38 of every $100, up from $33 in 2013.
UnionPay continued to have the highest percentage increase in purchase transactions. Last year its credit and debit purchase transactions at merchants grew by 52.3%. However, its year-over-year growth of 6.78 billion transactions compared to an increase of 10.40 billion for Visa and 6.17 billion for MasterCard. The number of purchase transactions on UnionPay debit cards exceeded the number on American Express credit cards for the first time.
Visa debit cards continued to account for the most purchase transactions with a share of 36.79%, followed by Visa credit cards with 20.95%, MasterCard credit cards with 13.76%, MasterCard debit cards with 12.58%, Union Pay credit cards with 5.45%, UnionPay debit cards with 4.65%, American Express cards with 3.40%, Diners Club/Discover cards with 1.24%, and JCB cards with 1.18%.
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