Payment Card Issuance Statistics


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Payment Card Issuance Statistics 2023: Facts about Payment Card Issuance outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Payment Card Issuance, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Payment Card Issuance Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Payment Card Issuance Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 28 Payment Card Issuance Statistics on this page 🙂

Payment Card Issuance “Latest” Statistics

  • According to European Central Bank, 73% of this value comes from CNP payments, 19% from transactions at point-of-sale (POS) terminals, and 8% from transactions at automated teller machines (ATMs).[1]
  • Approximately 67% of small firms have a business credit card, yet just 24% claim to use it as their principal means of payment.[1]
  • Global payments fraud quadrupled between 2011 and 2020, going from $9.84 billion to $32.39 billion, according to Merchant Savvy.[1]
  • As of 2018, the US is the country with the most recorded losses from credit card fraud, at 38.6%.[1]
  • By the conclusion of Q1 2017, card payments accounted for 78.4% of all retail purchases in the UK.[1]
  • According to UK Finance, counterfeit card fraud cost £16.3 million in 2018, a decrease of 33% from 2017 and 90% below its peak in 2008.[1]
  • Fraud involving lost and stolen property is very prevalent in Denmark. High credit limits may have contributed to 52.7% of total losses.[1]
  • Ecommerce fraud continues to account for 50% of all UK card fraud losses, which reach $310.2 million.[1]
  • According to Experian, 73% of Americans are extremely or somewhat worried that someone may hack into their bank accounts, emails, or social media profiles.[1]
  • In 2018, total fraud losses on UK-issued cards amounted to £671.4 million, up 19% from 2017.[1]
  • Even though just 56% of all payments in Q2 2018 were contactless, contactless card fraud accounted for 65% of all fraudulent card payments.[1]
  • Only 29% of small company owners in America really utilize credit card incentives to cover a business expenditure.[1]
  • Cross border payments conducted via SEPA account for 43% of all fraud, followed by domestic payments at 35% and payments made outside of SEPA at 22%.[1]
  • In 2018, remote purchase fraud increased to £506.4 million, up 25% from 2017, with an estimated £265.1 million of those transactions occurring online against UK merchants, up 29%.[1]
  • Lost and stolen fraud accounts for 16.3% of all compromises, whereas CNP fraud, which is based on the theft of card information, accounts for 72.3%.[1]
  • The losses primarily came from misuse of card information on the internet (70.7%) and card data stolen in Norway and used on counterfeit cards in/outside Norway (12.3%).[1]
  • The seven largest issuers generated $4.149 trillion in purchase volume in 2022, up to 19.1%.[2]
  • According to Nilson Report, consumer and commercial credit, debit and prepaid cards issued in the US carrying the American Express, Discover, Mastercard and Visa brands generated $9.563 trillion in purchase volume in 2022, an increase of 13.0% over 2021.[2]
  • Credit, debit and prepaid general purpose and private label payment cards in circulation worldwide are projected to reach 28.44 billion by December 31, 2027.[2]
  • UnionPay, Visa, Mastercard, American Express, JCB and Discover/Diners Club are projected to generate 891.20 billion transactions in 2027, an increase of 42.3% over 2022.[2]
  • In 2022, consumer credit increased 7.8%, with revolving and nonrevolving credit increasing 14.8% and 5.6%, respectively.[3]
  • According to the quarterly data, there were 19.16 million credit cards in use worldwide as of the end of Q1 2022.[4]
  • The total number of credit card transactions was 220.15 million for Q1/2022, representing a 5.4% decrease from the previous quarter and a 0.04% decrease from the same period in 2021.[4]
  • When compared to the same period in 2021, the total number increased by 10.7% and the total value dropped by 3.9% in Q1 2022.[4]
  • Of the taxpayers who participated in the 2021 Comprehensive Taxpayer Attitude Survey (CTAS), 88% said it is not at all acceptable to cheat on their income taxes, and nearly all (93%) believe it is a civic duty to pay their fair share of taxes.[5]
  • Just 2.25% of Americans’ total outstanding credit card balances are currently at least 30 days delinquent.[6]
  • According to the most recent delinquency data from the Fed, the 30-day delinquency rate (or the percentage of total outstanding credit card balances that are currently at least 30 days overdue) rose from 2.09% to 2.25% in the fourth quarter of 2022.[6]
  • According to Lending Tree, 60% of active accounts carried a balance in the first quarter of 2019 before falling throughout 2020 to as low as 51% in the second quarter of 2021.[6]

Also Read

How Useful is Payment Card Issuance

One of the primary reasons payment card issuance is so useful is due to the convenience it offers. Carrying around cash can be cumbersome and risky, especially in today’s digital age where many transactions are done electronically. With a payment card, individuals no longer have to worry about having the exact amount of cash on hand or struggling to find an ATM. Payment cards can be used virtually anywhere, making them a versatile and universally accepted form of payment.

Furthermore, payment card issuance provides a layer of security that cash simply cannot match. Payment cards often come with features such as chip technology, encryption, and fraud monitoring that help protect against unauthorized use and identity theft. In the event that a payment card is lost or stolen, most banks and financial institutions offer zero-liability protection, providing peace of mind to cardholders.

In addition to convenience and security, payment card issuance also offers advantages in terms of budgeting and tracking expenses. With a payment card, individuals can easily monitor their spending habits and track their purchases online or through mobile banking apps. This can be especially helpful for those looking to stick to a budget or categorize their expenses for tax or personal accounting purposes.

Another useful aspect of payment card issuance is the ability to accumulate rewards and benefits through various loyalty programs. Many payment cards offer points or cash back incentives for every dollar spent, allowing cardholders to earn rewards on everyday purchases. From travel perks to discounts on goods and services, these rewards programs can provide added value to cardholders and incentivize the use of payment cards over other forms of payment.

Lastly, payment card issuance plays a crucial role in the global economy by facilitating seamless cross-border transactions and promoting financial inclusion. Payment cards allow individuals to make purchases in foreign currencies, participate in e-commerce transactions with international merchants, and access financial services that may not be available in their local markets. This level of accessibility and connectivity is essential for promoting economic growth and fostering financial empowerment among individuals worldwide.

In conclusion, payment card issuance offers a wide range of benefits and utility that make it an essential tool in today’s modern economy. From convenience and security to budgeting and rewards, payment cards have fundamentally changed the way we think about transactions and financial management. As technology continues to advance, it is likely that payment cards will only become more useful and innovative in the years to come, further solidifying their place as a valuable asset in our daily lives.

Reference

  1. spendesk – https://blog.spendesk.com/en/credit-card-statistics
  2. nilsonreport – https://nilsonreport.com/publication_chart_and_graphs_archive.php
  3. federalreserve – https://www.federalreserve.gov/releases/g19/current/
  4. hkma – https://www.hkma.gov.hk/eng/news-and-media/press-releases/2022/06/20220617-5/
  5. irs – https://www.irs.gov/statistics/soi-tax-stats-irs-data-book
  6. lendingtree – https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/

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