Visa holds the distinction as the most widely used credit card network globally, accounting for a significant share of all credit cards in circulation.
Global Credit Card Market Share
The dominance of Visa in the global credit card landscape is evident from its substantial market share. Following closely is Mastercard, while other networks like American Express and Discover hold smaller portions of the market. This widespread acceptance and availability make Visa a ubiquitous payment method across numerous countries and merchants.
Here's a breakdown of the market share among major credit card networks:
| Credit Card Network | Share of Credit Cards in Circulation | Global Cards in Circulation (Approx.) |
|---|---|---|
| Visa | 37% | - |
| Mastercard | 32% | - |
| American Express | - | 141 million |
| Discover | - | 71.5 million |
While Visa and Mastercard primarily operate as payment networks, enabling transactions between cardholders, merchants, and banks, companies like American Express and Discover often function as both the network and the card issuer. This distinction affects how their market presence is measured; Visa and Mastercard's shares reflect the vast number of cards operating on their networks, regardless of the issuing bank, whereas American Express and Discover's figures represent cards directly issued by them.
The widespread adoption of Visa cards by numerous banks and financial institutions worldwide contributes significantly to its leading position, making it a globally recognized and accepted form of payment for everyday purchases, online transactions, and international travel.
