Credit, debit and prepaid card transactions for six major card networks shot up a combined 13.3% from 2015 to 2016, and purchase volume rose 5.8% to $20.606 trillion, according to new global data from card and payment industry publisher The Nilson Report.
Nilson found that Visa, Mastercard, Diners Club/Discover, American Express, China's UnionPay and Japan's JCB cards together rang up 257.17 billion purchase transactions in 2016 — a whopping 30.21 billion more than in 2015, according to the data.
UnionPay had the largest percentage increase in purchase transactions, growing by 32.0% in 2016, but Visa is still the king of plastic, according to the data. More than half of all card purchase transactions worldwide (54.06%) in 2016 used Visa cards — 34.82% were on Visa debit cards and 19.23% were on Visa credit cards.
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