Visa Mastercard payment cards (credit, charge, debit, and prepaid) cards-in-force (CIF) in the U.S., for the fourth-quarter (4Q/19) posted an increase of 5.2% year-on-year (YOY), compared to a 5.8% YOY gain in payment cards for the prior quarter (3Q/19). Visa and Mastercard U.S. credit cards increased 3.7% YOY, while CIF for debit cards rose 6.2% YOY, in 4Q/19.
There were 1420 million Visa and Mastercard payment cards in circulation in the U.S. at the end of 4Q/19, compared to a revised 1404 million for 3Q/19 and a revised 1350 million for 4Q/18. Since the fourth-quarter of 2015, Visa and Mastercard have added 228 million payment CIF, according to tabulations by CardData.
U.S. Payment Cards Analysis
Based on a current compound annual growth rate (CAGR) of 4.47% since 2015, U.S. Visa and Mastercard payment CIF should top 1483 million by the end-of-year (EOY) 2020. Visa and Mastercard payment CIF grew 4.5% in 2018, compared to 3.3% EOY 2017, and 4.9% EOY 2016, according to analysis by RAM Research.
Mastercard dominates the growth in U.S. credit/charge cards with a YOY gain of 7.0%, as well as U.S. debit/prepaid cards with a 9.5% YOY increase, over the fourth-quarter of last year, notes Senior Analyst Robert McKinley for CardWeb.
Visa + Mastercard U.S. Credit & Debit Cards
The 4Q/19 U.S. credit card CIF for both networks was up 3.7% YOY, compared to 4.7% YOY in the prior quarter. Visa and Mastercard reported 585 million credit CIF for 4Q/19, compared to a revised 580 million for 3Q/19 and revised 564 million for 4Q/18. For the fourth-quarter of 2015 there were 525 million Visa and Mastercard credit CIF. Visa and Mastercard U.S. credit cards are currently growing at a 2.74% CAGR.
The 4Q/19 U.S. debit card CIF for both networks increased 6.2%, compared to 6.6% YOY in 3Q/19. Visa and Mastercard reported 835 million debit CIF, compared to a revised 824 million for 3Q/19 and a revised 786 million for 4Q/18. For the fourth-quarter of 2015 there were 667 million Visa and Mastercard debit CIF. Visa and Mastercard U.S. debit cards are currently growing at a 5.78% CAGR.
Professor Cardworthy recently noted there were 285 million Visa and Mastercards globally in 1986. This figure includes all credit cards. Debit and prepaid products were not offered at that time.
Visa U.S. Payment Cards
Visa U.S. credit cards had an estimated 1.5% YOY gain in CIF for 4Q/19, compared to 1.2% for 3Q/19. Visa had an estimated 342 million credit CIF in the fourth-quarter, compared to a reported 340 million for the prior quarter, and a revised 337 million for the year ago quarter. (Visa reports CIF on a one-quarter delay.) For the fourth-quarter of 2015 there were 335 million Visa credit CIF. Visa U.S. credit cards are currently growing at a 0.52% CAGR.
Visa U.S. debit cards had an estimated boost of 4.9% YOY gain in the fourth-quarter, compared to a 6.6% YOY gain in CIF for 3Q/19. Visa had an estimated 605 million debit CIF, compared to a reported 599 million for the prior quarter, and a revised 577 million for the year ago quarter. For the fourth-quarter of 2015 there were 484 million Visa debit CIF. Visa U.S. debit cards are currently growing at a 5.74% CAGR.
Mastercard U.S. Payment Cards
Mastercard U.S. credit cards posted a 7.0% YOY in credit CIF for the fourth-quarter, compared to 10.1% YOY gain in credit CIF for 3Q/19. Mastercard reported 243 million credit CIF million for 4Q/19, compared to a revised 240 million for the prior quarter, and a revised 227 million for the year ago quarter. For the fourth-quarter of 2015 there were 190 million Mastercard credit CIF. Mastercard U.S. credit cards are currently growing at a 6.34% CAGR.
Mastercard U.S. debit cards posted a 9.5% YOY gain for 4Q/19 debit CIF, compared a 6.6% YOY gain in CIF for 3Q/19. Mastercard reported 230 million debit CIF, compared to a revised 225 million for the prior quarter, and a revised 210 million for the year ago quarter. For the fourth-quarter of 2015 there were 183 million Mastercard debit CIF. Mastercard U.S. debit cards are currently growing at a 5.88% CAGR.
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Sources: Visa; Mastercard; CardData; RAM Research; CardTrak; CardFlash; Cardworthy; CardWeb; PYRPTS; CardBuzz; Bankcenter; PYVNTS; Ruebud Media; Red3 Media
