Earthquake in the global brand credit card network worldwide

[Abhishek012]

Earthquake in the global brand credit card network worldwide:

Who do you think is the number 1 ? China UnionPay overtook the US’ Visa for the first time last year to claim its place as the world’s most popular debit card provider, according to the latest research by Nilson Report.

UnionPay seized 40.03 percent of the world’s debit card market in 2022, an increase of 1.39 percentage point, while Visa held 38.78 percent of the market. In terms of both credit and debit cards, Visa topped the world’s market with a 38.7 percent share, UnionPay came in second with 34 percent and Mastercard was third at 24 percent.

From 2011 to 2021, the market share of Visa's debit card transaction has dropped from nearly 80% to 39.53%; while UnionPay's share within the payment system jumped from nearly zero to 38.68%. UnionPay International has entered into partnerships with more than 2,500 institutions worldwide and has enabled card acceptance in 181 countries and regions with issuance in 79 countries and regions, according to the company.

Unionpay Card has the monopol for transactions in Yuan and many countries (especially in Africa) are switching to settle their transactions in Yuan as their main business partner has become China.. Unionpay can also down the road help countries to escape US Sanctions..

US and China are on a collision mode ? Expect some collision too in the payment universe and European Banks will have to make a choice soon..

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Bottomline -

Why i am posting this ?

Simple answer - Some people support Visa/MasterCard by saying that RuPay card has a monopoly. This report is just to open the eyes of those people that there is no sign of RuPay card anywhere in the global market share. NPCI also said many times, "RuPay card is a new born baby". Its long way to go.

 

[Deathsnatcher]

Nice to know..way to go!

 

[Card_Crafter]

Good. Too much reliance on one or two companies are not good. There should be competition and alternatives. We have to learn from the Russia incident. Indian banks should promote Rupay more.

 

[Zulu]

Wait for few years Rupay will be public sector to private sector.

 

[maheshspanicker]

What is the Rupay share? Do we make it to 1 percent at least?
China's strength is their population. India is better placed in that regard. Hope NPCI can utilize the same, without forcefully stifling competition. UPI has demonstrated they can be as good as anyone else. Hope Rupay can come out with compelling products, and offer something more to banks and customers so that more would join the Rupay bandwagon without being forced by RBI or the government. Will be a win-win for all.

 

[It_is_Naruto]

Earthquake in the global brand credit card network worldwide:

Who do you think is the number 1 ? China UnionPay overtook the US’ Visa for the first time last year to claim its place as the world’s most popular debit card provider, according to the latest research by Nilson Report.

UnionPay seized 40.03 percent of the world’s debit card market in 2022, an increase of 1.39 percentage point, while Visa held 38.78 percent of the market. In terms of both credit and debit cards, Visa topped the world’s market with a 38.7 percent share, UnionPay came in second with 34 percent and Mastercard was third at 24 percent.

From 2011 to 2021, the market share of Visa's debit card transaction has dropped from nearly 80% to 39.53%; while UnionPay's share within the payment system jumped from nearly zero to 38.68%. UnionPay International has entered into partnerships with more than 2,500 institutions worldwide and has enabled card acceptance in 181 countries and regions with issuance in 79 countries and regions, according to the company.

Unionpay Card has the monopol for transactions in Yuan and many countries (especially in Africa) are switching to settle their transactions in Yuan as their main business partner has become China.. Unionpay can also down the road help countries to escape US Sanctions..

US and China are on a collision mode ? Expect some collision too in the payment universe and European Banks will have to make a choice soon..

View attachment 19030

---

Bottomline -

Why i am posting this ?

Simple answer - Some people support Visa/MasterCard by saying that RuPay card has a monopoly. This report is just to open the eyes of those people that there is no sign of RuPay card anywhere in the global market share. NPCI also said many times, "RuPay card is a new born baby". Its long way to go.

Great information.
China or I should say Chinese firms works in a very different way than other firms. The scale and pace is unmatched. Now I really want Rupay to ramp up and come with at least single digit % in such surveys...
Apart from this....do we have Unionpay cards being issued in India?

 

[Abhishek012]

Good. Too much reliance on one or two companies are not good. There should be competition and alternatives. We have to learn from the Russia incident. Indian banks should promote Rupay more.

I want more Indian credit card companies. Ek RuPay card se kya hoga.

Americans have a choice of which card network they want to use but the interesting fact is that all are US companies (Visa/Mastercard/Amex/Discover/Diners club/Pulse). Few other local credit card companies are also available in US.

But what do we have ? only RuPay ?

Also i want UPI like one more Instant payment system.

NPCI should grant the license for UPI APIs to another Indian company to promote innovation and competition, similar to the case of Intel vs AMD.

What is the Rupay share? Do we make it to 1 percent at least?
China's strength is their population. India is better placed in that regard. Hope NPCI can utilize the same, without forcefully stifling competition. UPI has demonstrated they can be as good as anyone else. Hope Rupay can come out with compelling products, and offer something more to banks and customers so that more would join the Rupay bandwagon without being forced by RBI or the government. Will be a win-win for all.

Under 1% share in global card market.

Visa/MasterCard and China UnionPay have made great success because they are backed by the US govt and the Chinese govt.
Indians have to change this mindset, If US and Chinese Govt support their companies then everything is ok but Indians expect honesty from Indian companies. LOL 🤣🤣

USA will never give 100% access to our India's RuPay card but USA will happily welcome, if RuPay enter into American market partnership with Discover card network. China's UnionPay card and Japan's JCB card already work in a similar way in the US market.

I want visa/mastercard should work with RuPay, same like JCB and Discover global card work in India. RBI should cancel Visa/mastercard India license (This is nothing new, China already done it and that time USA said we respect China's sovereignty).

You guys can ask, what will happen to the competition ? if every card companies work with RuPay card network ? then competition will over, right ? No, never. This is not the end, this is the beginning. Since, only 1 Indian company RuPay card will exist. RBI and banks will decide to create more Indian credit card network companies.

Just imagine if we had 3 or 4 Indian credit card companies and also co-branded with Visa/Mastercard, for example -

1) RuPay card or RuPay-JCB Global card

2) Another Indian company 'Hindustan card' or Hindustan card co-branded with Mastercard for global acceptance.

3) Another Indian company 'Bharat card' or Bharat card co-branded with visa card for global acceptance.

4) RuPay-Hindustan card (how it will work ? since RuPay will also expand in global market. Hindustan card network work only in India and RuPay network work outside India).

This would be true globalization and true competition and i didn't say anything imaginary because this is how it works in America.

Lets some example about US credit card companies in US market -

1) Diners Club co-branded with Mastercard (Some Diners club card in USA work on Mastercard network outside the USA)

2) Discover card or Discover card cobranded with UnionPay/JCB card (Discover network in USA and outside USA, card work on China Unionpay card network or JCB card network)

3) Pulse-Visa cobranded card or Pulse-Mastercard cobranded card (Pulse card network owned by Discover card and this card work on Pulse network in USA and outside the USA work on Visa/mastercard network).

4) Well, standalone cards are also available. Visa card - work on Visa network everywhere in USA and outside USA. Mastercard - work on Mastercard network everywhere in USA.

As you see, there is competition among credit card companies in the USA but all are US based credit card companies. China UnionPay or JCB card is not directly allowed in US market but they work with Discover card network.

 

[Abhishek012]

Great information.
China or I should say Chinese firms works in a very different way than other firms. The scale and pace is unmatched. Now I really want Rupay to ramp up and come with at least single digit % in such surveys...
Apart from this....do we have Unionpay cards being issued in India?

No, there was a plan by the previous govt to use Chinese UnionPay card technology in our RuPay card but in 2014 the present government came to power and destroyed the whole plan.

Warna aaj humlog 'Atma nirbhar China hote' 🤣🤣

Wait for few years Rupay will be public sector to private sector.

NPCI is already private company.

 

[plastikman]

I want more Indian credit card companies. Ek RuPay card se kya hoga.

Americans have a choice of which card network they want to use but the interesting fact is that all are US companies (Visa/Mastercard/Amex/Discover/Diners club/Pulse). Few other local credit card companies are also available in US.

But what do we have ? only RuPay ?

Also i want UPI like one more Instant payment system.

NPCI should grant the license for UPI APIs to another Indian company to promote innovation and competition, similar to the case of Intel vs AMD.



Under 1% share in global card market.

Visa/MasterCard and China UnionPay have made great success because they are backed by the US govt and the Chinese govt.
Indians have to change this mindset, If US and Chinese Govt support their companies then everything is ok but Indians expect honesty from Indian companies. LOL 🤣🤣

USA will never give 100% access to our India's RuPay card but USA will happily welcome, if RuPay enter into American market partnership with Discover card network. China's UnionPay card and Japan's JCB card already work in a similar way in the US market.

I want visa/mastercard should work with RuPay, same like JCB and Discover global card work in India. RBI should cancel Visa/mastercard India license (This is nothing new, China already done it and that time USA said we respect China's sovereignty).

You guys can ask, what will happen to the competition ? if every card companies work with RuPay card network ? then competition will over, right ? No, never. This is not the end, this is the beginning. Since, only 1 Indian company RuPay card will exist. RBI and banks will decide to create more Indian credit card network companies.

Just imagine if we had 3 or 4 Indian credit card companies and also co-branded with Visa/Mastercard, for example -

1) RuPay card or RuPay-JCB Global card

2) Another Indian company 'Hindustan card' or Hindustan card co-branded with Mastercard for global acceptance.

3) Another Indian company 'Bharat card' or Bharat card co-branded with visa card for global acceptance.

4) RuPay-Hindustan card (how it will work ? since RuPay will also expand in global market. Hindustan card network work only in India and RuPay network work outside India).

This would be true globalization and true competition and i didn't say anything imaginary because this is how it works in America.

Lets some example about US credit card companies in US market -

1) Diners Club co-branded with Mastercard (Some Diners club card in USA work on Mastercard network outside the USA)

2) Discover card or Discover card cobranded with UnionPay/JCB card (Discover network in USA and outside USA, card work on China Unionpay card network or JCB card network)

3) Pulse-Visa cobranded card or Pulse-Mastercard cobranded card (Pulse card network owned by Discover card and this card work on Pulse network in USA and outside the USA work on Visa/mastercard network).

4) Well, standalone cards are also available. Visa card - work on Visa network everywhere in USA and outside USA. Mastercard - work on Mastercard network everywhere in USA.

As you see, there is competition among credit card companies in the USA but all are US based credit card companies. China UnionPay or JCB card is not directly allowed in US market but they work with Discover card network.

Also, Rupay select benefits are much better than Visa Signature (Times Prime 😀) !