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, reports that it processes more than 65,000 transaction messages per second (as of March 2018).  Visa had 3.3 billion card holders in 2018, while MasterCard had 903 million worldwide.  Other major credit card issuers include American Express (114 million card holders), JCB (103 million) and Discover (44 million). Another competitor in consumer payments is the e-commerce firm PayPal, which electronically debits customer’s checking accounts for online purchases.  As of the third quarter of 2019, PayPal had 295 million active users.  PayPal has adopted an open source software strategy, which enables…

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