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 1.14 billion card holders in 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 2020, PayPal had an estimated 346 million active users.  PayPal has adopted an open source software strategy, which enables developers to easily…

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