Credit Card Issuers Face New Regulations/Visa and MasterCard Enjoy Global Growth, Business and Industry Trends Analysis

Global consumers are awash in credit cards.  Visa, for example, Visa had 1.14 billion card holders in December 2020, on a global basis, while MasterCard had 939 million.  Other major credit card issuers include American Express, JCB and Discover. Another competitor in consumer payments is the e-commerce firm PayPal, which electronically debits customer’s checking accounts for online purchases.  As of the second quarter of 2021, PayPal had an estimated 403 million active users.  PayPal has adopted an open source software strategy, which enables developers to easily incorporate PayPal into web sites. Banks and stock brokerages have upped the ante in…

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