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Consumer Purchases Using Cards Increased by 7.3 Percent, Totaling $3.5 Trillion
Thursday, November 21, 2013 6:55 AM

There were 51.58 billion purchase transactions initiated by general-purpose credit and debit (including prepaid) cards in the U.S. from Jan.1 through Sept. 30, 2013, an increase of 7.8 percent or 3.75 billion transactions.

Credit card purchase transactions increased by 8.3 percent or 2.52 billion. Debit cards generated 63.75 percent of all purchase transactions, up from 63.49 percent.

Through the first nine months of 2013, Visa credit cards issued in the U.S. accounted for 50.01 percent of credit card purchase transactions, up 158 basis points from 48.43 percent for the first nine months.

Purchase volume for the first nine months equaled $3.50 trillion, with credit cards leading the usage at $1.83 trillion, and debit cards used for $1.68 trillion in purchases. Visa leads all cards issued, with $2.0 trillion moving through the company.

Based on purchase volumes, the top five transaction acquirers were Bank of America (acquiring over 13.5 billion transactions), Vantiv at 11.2 billion, First Data processing 9.7 billion, Chase handling over 9.0 billion transactions, and Citi acquiring 6.2 billion.

 

(Source: The Nilson Report, Nov. 19, 2013)