Americans are on track to charge more than $2.0 trillion on their bank credit and debit cards this year. If store and gas credit cards are included the figure could top $2.3 trillion. At mid-year, VISA credit and debit card users racked up more than half a billion dollars in charges. VISA will easily capture $1 trillion of charge volume in the USA this year. MasterCard credit and debit card users have charged nearly $304 billion in charges this year. American Express produced $123.5 billion in year-to-date 2003 payment card charges, while Discover users spent $50 billion on their cards.
2003 Payment Card Volume
VISA: $515.6 billion
MasterCard: $303.7 billion
American Express: $123.5 billion
Discover: $50.1 billion
TOTAL: $993.0 billion
Source: CardData (www.carddata.com).
