A NEW LOOK

for the
FOR 49 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE NILSON REPORT MAY 2020 / ISSUE 1175
NEXT ISSUE
Payment Industry’s Response to Covid-19—Part 3
Governments worldwide are taking steps to reopen their
economies to retail commerce, manufacturing, and services as
Top Acquirers in Europe
they address the global recession triggered by the fight against Purchase Transactions (Bil.)
the Covid-19 pandemic. 2019 VS. 2018
On pages 10 and 11 we highlight actions taken in North and SBERBANK
South America, Asia, and Europe taken by card and mobile ‘19 20.61
payment companies to address the impact of Covid-19. ’18 14.37
> see p. 10 WORLDPAY
Global Payments Gets Truist Credit Card Processing ‘19 9.67
’18 8.70
The Total System Services (Tsys) business unit of Global Payments BARCLAYS
will handle credit card account processing services for Truist, the ‘19 7.34
bank holding company formed by the 2019 merger of BB&T and ’18 7.00
> see p. 6 J.P. MORGAN
‘19 4.62
First Quarter Card Results in the U.S. ’18 3.75
Consumer, small business, and commercial credit, debit, and NETS
prepaid cards carrying Visa, Mastercard, Discover, and American ‘19 4.42
Express brands issued in the U.S. as well as payments settled ’18 3.58
> see p. 5 CREDIT AGRICOLE
‘19 3.94
Aluminum Payment Cards ’18 3.61
Anomatic has spent the last three years in research and WORLDLINE
‘19 3.87
development of its all-aluminum anodized AnoCard card.
’18 3.48
AnoCards, which are manufactured using 100% recyclable
CREDIT MUTUEL
> see p. 5
‘19 3.86
Adflex B2B Digital Payment Processing ’18 3.61

More than 3,000 companies use the Adflex multilingual,
multicurrency (150+) platform to increase accounts payable and
accounts receivable efficiencies between buyers and suppliers.
> see p. 6
Investments & Acquisitions—April 2020
Turn to page four for a list of 63 acquisitions and investments that
occurred in 20 countries in April 2020. The U.S. led with 26 deals,
followed by Europe with 18, Asia-Pacific with 11, Middle East-
Africa with 5, Canada with 2, and Latin America with 1.
Prior issues: 1173, 1171, 1169
> see p. 4
© 2020 The Nilson Report
Top 45 Merchant Acquirers in Europe
A ranking of the 45 largest acquirers of Visa (including Electron)
and Mastercard (including Maestro) credit, debit, and prepaid
card payments from merchants in Europe based on transactions
processed in 2019 is presented in the chart on pages 8 and 9.
The chart above shows Europe’s eight largest merchant
acquirers ranked by combined global brand (Visa, Mastercard,
American Express, Diners Club, UnionPay, and JCB) payments
acquired as well as four Europe-based domestic-market-only
> see p. 7

INSIDE 2 – 3 Fast Facts CHARTS 5 U.S. General Purpose Cards 1Q 2020 vs. 1Q 2019
Management Changes 7-9 Top Merchant Acquirers in Europe Ranked by: Transactions
& Purchase Volume and Mastercard/Visa Transactions
12 Top 25 Acquirers of Web Transactions in Europe

© 2020 HSN Consultants, Inc. THE NILSON REPORT VISIT US ONLINE AT WWW.NILSONREPORT.COM
 FAST
FACTS
FIS has launched FIS Digital Issuance, which lets financial
institutions provide newly approved applicants with
immediate mobile access to their credit and debit accounts.
Avidia Bank is the first issuer to offer the service. FIS Digital
Issuance also provides a same-day mobile replacement
option for cardholders whose cards are lost, stolen, or
compromised. Jim Johnson is Head of Payments and Wealth
at FIS, jim.johnson@fisglobal.com, www.fisglobal.com.
Todd Wood is AVP Digital Banking at Avidia Bank, t.wood@
avidiabank.com, www.avidiabank.com.
PAYA, an integrated payment provider that handles over
$30 billion annually for over 100,000 customers, will be
offered to clients of Healthfully, an enterprise healthcare
service provider. Mark Engels is Chief Revenue Officer
MAY 2020 at Paya, mark.engels@paya.com, www.paya.com.
ISSUE 1175 Paul Viskovich is CEO at Healthfully, paul@healthfully.io,
www.healthfully.io/.
No paid SECURETRUST, a division of Trustwave, has launched
advertising. SecureTrust PCI Manager, a cloud-based platform that
No sponsored provides Payment Card Industry (PCI) compliance validation
content of any kind. and enhanced risk mitigation for acquiring banks and
Ever. merchant service providers. It was designed for all self-
assessing entities (Level 2 through Level 4). Michael Petitti is
President at SecureTrust, mpetitti@securetrust.com,
www.securetrust.com.
CLEARSALE has moved the hosting of its anti-fraud
application to Microsoft Azure and to using the Azure SQL
Database hyperscale tier. The move lets ClearSale, which
has over 3,000 customers worldwide, streamline upgrades
to new and existing applications. Rafael Lourenco is EVP
and Partner at ClearSale US, rafael.lourenco@clear.sale,
www.clear.sale.
LINKED2PAY, a risk management and payment
technology provider, has launched CustomerConnect,
which aims to eliminate late B2B invoice payments.
CustomerConnect supports merchant accounts on card
processing gateways including TSYS MultiPass/TransIT,
Heartland Portico, First Data, NAB Velocity, and
Authorize.Net. It also supports the linked2pay and Paya ACH
gateways. Robert McShirley is CEO at linked2pay,
jay.mcshirley@linked2pay.com, www.linked2pay.com.
ASURINT, provider of background checks used in the hiring
process for both recruiters and candidates, has gone live
with BillingPlatform’s fully automated, cloud-based billing
services. Dennis Wall is CEO at BillingPlatform, dennis.wall@
billingplatform.com, www.billingplatform.com. Brent Sisson is
CFO at Asurint, bsisson@asurint.com, www.asurint.com.
2 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive
1 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive
VISA, MASTERCARD, AMERICAN EXPRESS, and DIS-
COVER have postponed increases in interchange and mer-
chant fees until April 2021. Adjustments had been scheduled
for July 2020. Amex, Visa, Mastercard, and Discover have
also postponed the imposition of the EMV fuel pump liability
shift from issuers to gasoline sellers.
CONFERMA PAY, provider of virtual card technology to
corporations, has integrated Visa virtual cards in the
Conferma Pay mobile app. Employees can make virtual card
payments anywhere contactless payments are accepted.
Purchases are captured in a single record, providing the
commercial card program manager with visibility into an
individual’s spending. Paper receipts or manually submitted
expenses are eliminated. Kevin Phalen is SVP, Global Head at
Visa Business Solutions, kphalen@visa.com, www.visa.com.
Simon Barker is CEO at Conferma Pay, simon.barker@
conferma.com, www.conferma.com.
COMPASS PLUS migrated Network International’s 12
issuer processor clients (banks) in Egypt from legacy
infrastructures in 2019. Network International, a top third-
party processor in the Middle East and North Africa, has
used Compass Plus software for 14 years. Alexey Osipov is
EVP & MEA Managing Director at Compass Plus, a.osipov@
compassplus.com, www.compassplus.com. Hany Fekry is
Managing Director, Egypt at Network International,
hany.fekry@network.global, www.network.ae.
TRUSTONIC has provided KB Kookmin Bank (KB Bank),
the largest bank in Korea with three million mobile custom-
ers, with Trustonic Application Protection (TAP) to enable
a simpler authentication process for the KB star banking
app. Trustonic’s mobile application protection lets the bank
provide faster and more secure digital banking services
because it isolates authentication certificates in the
hardware of smartphones. Dion Price is CEO at Trustonic,
dion.price@trustonic.com, www.trustonic.com.
DPO GROUP, a payment service provider to over 100,000
merchants in Africa, has expanded operations to include
francophone countries Senegal, Côte d’Ivoire, and the
Democratic Republic of the Congo. DPO is the largest
PSP in South Africa. Eran Feinstein is CEO,
eran.feinstein@3gdirectpay.com, www.dpogroup.com.
UNIONPAY has expanded its online merchant acceptance
in Europe with 10 partnerships, including Stripe, Santander,
and Nexi. Since the beginning of the Covid-19 pandemic,
global online transaction volume at UnionPay has increased
by 20%. Wei Zhihong is International Market Dir. & General
Manager of Europe Branch, weizhihong@unionpayintl.com,
www.unionpayintl.com.
 12TH EDITION
The World’s Top Card Issuers and Merchant Acquirers
12TH EDITION
The World’s
Now Topedition,
in its 12th Card Issuers and Merchant
this 126-page Acquirers
report lists 1,109
Now issuers
card in its 12th edition,
in 117 this 126-page
countries grouped byreport lists 1,109
region.
card issuers in 117 countries grouped by region.
Our research report is available as a PDF and, for the
Our time,
first research
datareport
tablesisare
available as a PDF
also available inand,
Excelfor the
format.
The World’s first time,
This data tables update
much-requested are alsoadds
available in Excel format.
new possibilities for
The Card
Top World’s
Issuers This much-requested
exploring our data. update adds new possibilities for
Top Merchant
and Card Issuers
Acquirers exploring our data.
and Merchant Acquirers As a Nilson Report subscriber, you will appreciate
1,109 CARD ISSUERS As a Nilson
having Report subscriber,
our regional and worldwide you will appreciate
figures in one
282 MERCHANT ACQUIRERS
1,109 CARD CANADA,
ASIA—PACIFIC, ISSUERSEUROPE, LATIN AMERICA,
UNITED STATES, MIDDLE EAST AND AFRICA
having our regional and worldwide figures
reference document. You will also get the following in one
282 MERCHANT ACQUIRERS
Visa, Mastercard, American Express, UnionPay, JCB, Discover and Diners Club
ASIA—PACIFIC, CANADA, EUROPE, LATIN AMERICA,
UNITED STATES, MIDDLE EAST AND AFRICA
reference
(not document.
published You will also get the following
in the newsletter):
Visa, YOU’LL
WHAT Mastercard,
FIND INAmerican

Worldwide
Express, UnionPay, JCB, Discover and Diners Club
THIS REPORT

By World Region
(not published in the newsletter):
• Top 300 Issuers Worldwide by Country (ranked by
WHAT YOU’LL FIND IN THIS REPORT
General Purpose Cards General Purpose Cards 2018 vs. 2017
Worldwide
Purchase Transactions on Global Cards By World
Market SharesRegion
of Purchase Volume

• purchase
Top 300 Issuers Worldwide by Country (ranked by
Purchases by CardCards
Type YOY Growth/Decline in Purchase Volume

volume)
General Purpose General Purpose Cards 2018 vs. 2017
Top 300 Issuers
Purchase Transactions on Global Cards Top General
Market Purpose
Shares Card Issuers
of Purchase Volume
Top 150 Credit
Purchases Card Type
by Card Issuers Top
YOY50 Credit Card Issuers
Growth/Decline in Purchase Volume
Top
Top150
Top
300Debit
Top100
Card Issuers
Issuers
150Maestro Issuers
Credit Card Issuers
Top
Top50 Debit Purpose
General
Largest
Card Issuers

Top 50 General
Card Issuers
Purpose
Credit Card Card Issuers
Issuers
purchase
• Top volume)
Merchant Acquirers Worldwide (ranked by
Top
Top150
Top
150Credit

Top150
Card Issuers
Debit Card

100Merchant
Portfolios

Acquirers
Maestro Issuers
Card Issuers
Top 50
Largest
DebitCredit vs. Debit
Card Issuers

LargestMerchant Acquirers
General Purpose Card Issuers
• purchase
Top Merchant Acquirers Worldwide (ranked by
volume)
Top 150 Credit Card Portfolios

Top
Photo by 150on
Kewal Merchant
UnsplashAcquirers
Card Issuers Credit vs. Debit

Largest Merchant Acquirers purchase volume)

• Hundreds of additional listings:
FOR 50 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE
Photo by Kewal on Unsplash
• Issuers
Hundreds by of additional
Region listings:(more than the top 50)
and Country
FOR 50 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE

Figures include cards in circulation and Issuersvs.

Credit byDebit
Region and Country
Issuers by Region(more than the top 50)
by Country
Figures
spending forinclude
credit &cards
debitinincirculation
each worldand
region. Credit vs. Debit Issuers by Region by Country
spending for credit & debit in each world region. Order online, or contact our subscription manager
Order Today Order online, or contact our to
(lfulmer@nilsonreport.com) subscription
inquire aboutmanager
pricing.
Order Today
www.nilsonreport.com/research (lfulmer@nilsonreport.com) to inquire about pricing.
www.nilsonreport.com/research

PPRO, a top provider of a local payment platform-as-a-service, has added two

Japanese ecommerce payment methods, Konbini and Pay-easy, to the over Management Changes
150 methods already on its platform. Konbini consumers can shop online and
pay in cash at over 50,000 convenience stores. Pay-easy lets consumers pay Daniel Eckert has been appointed Executive Vice President & Chief
offline with cash and debit cards at ATMs and post offices or online using a Product, Strategy, and Development Officer at Green Dot, daniel.
bank transfer. Kelvin Phua is Global Head of Payment Networks at Ppro, eckert@greendotcorp.com. Roger Applewhite has been appointed
kelvin.phua@ppro.com, www.ppro.com. President and Chief Executive Officer at MagTek, roger.applewhite@
magtek.com. Shai Cohen has been appointed Senior Vice President of
ZWIPE, provider of a biometric inlay platform for fingerprint-secured payment
Global Fraud Solutions at TransUnion, shai.cohen@transunion.com.
cards, has a partnership with Hong Kong-based Asia Credit Card Production
Sean Feeney has been appointed Chief Executive Officer at
(ACC), a specialist smart card manufacturer. The Zwipe Pay ONE platform is
USA Technologies, sfeeney@usatech.com. Kurt Andersen has been
powered by a single-chip biometric secure element. ACC is currently
appointed Chief Marketing Officer at BillingPlatform, kurt.andersen@
completing the application process for full Visa, Mastercard, JCB, and billingplatform.com. Matthew Landers has been appointed Vice
UnionPay certification to issuers in the APAC region. Andre Lovestam is CEO at President of Sales at Certified Payments, matthew.landers@
Zwipe, andre@zwipe.com, www.zwipe.com. certifiedpayments.com. Larry Wine has been appointed Chief Operating
MASTERCARD brand virtual and physical debit cards will be issued by Paytm Officer at Bakkt, larry.wine@bakkt.com. Annie Kirkland has been
Payments Bank. The bank will begin with virtual debit cards. Porush Singh is appointed Vice President, Solution Design at Ubiquity Global Services,
Division President, South Asia at Mastercard, porush.singh@mastercard.com, annie.kirkland@ubiquity.com. Octavia Washington has been appointed
www.mastercard.com. Assistant Vice President and Operations Analyst at ICBA Bancard,
tavy.washington@icba.org. Pamela Tefft has been appointed Corporate
BARCLAYCARD provides UnionPay card acceptance to its 110,000 U.K. Controller and Chief Accounting Officer at Priority Technology Holdings,
merchants. Rob Cameron is CEO of Payment Acceptance at Barclaycard, pamela.tefft@prioritypaymentsystems.com.
robert.cameron@barclays.com, www.barclays.com.

© 2020 HSN Consultants, Inc. THE NILSON REPORT MAY 2020 / ISSUE 1175 / THE NILSON REPORT 3
© HSN Consultants, Inc. 2019 THE NILSON REPORT SEPTEMBER 2019 / ISSUE 1161 / THE NILSON REPORT 2
 Investments & Acquisitions April 2020
Company Buyer/Investor Amount Country Company Buyer/Investor Amount Country
(mil.) (mil.)
ALTERNATIVE CREDIT MERCHANT ACQUIRING/PROCESSING (CONTINUED)
Afterpay Tencent 1 $224.0 Australia Stripe Series G 22 $600.0 U.S.
AlphaCredit equity round 2
$100.0 Mexico MOBILE PAYMENTS
Cross River Series C 3 $100.0 U.S. Hubpay seed funding 23 * U.A.E.
Oriente Series B 4
$50.0 Hong Kong M-Pesa Safaricom/Vodacom 6
* Kenya
Paidy Series C 5 $8.0 Japan M2P Solutions/YAP Series A 24 $4.5 India
Tidewater Credit Genesis Credit 6
* U.S. Mamo Pay seed funding 7
$1.5 U.A.E.
ATMS Moka Gojek 6
$130.0 Indonesia
Dolphin Debit Euronet 6 * U.S. PhonePe corporate round 25 $28.0 India
Tremont Capital Paramount Management 6
* U.S. Phos seed funding 26
$1.4 U.K.
B2B PAYMENTS VibePay undisclosed venture round 27 $1.5 U.K.
AvidXchange Series F 7
$128.0 U.S. Voyager (PayMaya) equity round 28
$120.0 Philippines
Digits Series B 8 $22.0 U.S. PERSONAL FINANCE
Global Envoi Harbour & Hills 6 * Hong Kong Chip crowdfunding $3.2 U.K.
Investree Series C 9
$23.5 Indonesia Snoop seed funding 29
$3.6 U.K.
Previse undisclosed venture round 10 $11.0 U.K. Stash Series F 30 $112.0 U.S.
Railsbank Series A 11
* U.K. Trade Republic Series B 31
$69.0 Germany
Sila seed funding 12 $7.7 U.S. PREPAID CARDS
BLOCKCHAIN/CRYPTOCURRENCY Airwallex Series D 32 $160.0 Hong Kong
Applied Blockchain seed funding 13 $2.4 U.K. MoneyToPay Global Payments/CaixaBank 6 * Spain
Bitpanda undisclosed venture round 14
* Austria SVM Cards Blackhawk Network 6
* U.S.
Crypto Finance Series B 15 $14.9 Switzerland University Fancards Series A 33 $4.0 U.S.
Portis ShapeShift 6
* Israel SECURITY
Props token sale 16
$2.0 U.S. Beyond Identity Series A 34
$30.0 U.S.
CARD PROCESSING BioCatch Series C 35 $145.0 Israel
Galileo Financial SoFi 6 $1,200.0 U.S. IdentityMind Acuant 6 * U.S.
CREDIT BUREAU Onfido Series D 36 $100.0 U.K.
Credit Kudos Series A 17 $6.0 U.K. Privitar Series C 37 $80.0 U.K.
LOYALTY/OFFERS SOFTWARE
Aimia Kognitiv 6 * Canada Greenbits Series B 38 $23.0 U.S.
Empyr Augeo 6
* U.S. Paytronix Systems private equity round 39
$10.0 U.S.
MERCHANT ACQUIRING/PROCESSING Recko Series A 40 $6.0 India
Acceptiva Qgiv 6 * U.S. Yapily Series A 41 $13.0 U.S.
Bango NHN 18 $3.7 U.K. *Terms not disclosed. Purchased a 5% stake. Led By SoftBank's Latin
1 2

BNA Smart Ackroo Canada 6 * Canada America Fund. 3 Led by Shefa Capital. 4 Led by Lee Ka Kit. 5 From Itochu.
6
Acquisition. 7 Investors not disclosed. 8 Led by GV. 9 Led by BRI Ventures.
Echo Daily VizyPay 6 * U.S. 10
Led by Mastercard. 11 Including Visa. 12 Led by Hope Cochran. 13 From QBN
EVO Payments private equity round 19
$150.0 U.S. Capital. 14 From Speedinvest. 15 Led by Lingfeng Capital. 16 Led By Union Square
FlashBanc Celero 6 * U.S. Ventures. 17 Led by AlbionVC. 18 Purchased a 4.7% stake. 19 From Madison
Dearborn Partners. 20 Led by Y Combinator Continuity. 21 From DNB and
Gateway Payments Payroc 6 * U.S. Danske Banke. 22 Led by Andreessen Horowitz. 23 Led by Signal Peak Ventures.
GoPay Worldline 6
* Czech Rep.
24
Led by Beenext. 25 From Flipkart. 26 Led by New Vision 3. 27 Including Vela
Technologies. 28 Led by IFC Asset Management. 29 Led by Havisham Group.
Korta Rapyd 6 * Iceland 30
Including Lending Tree. 31 Led by Accel and Founders Fund. 32 Led by
Paytron Australis Capital 6
* U.S. Salesforce Ventures. 33 Led by MetaBank. 34 From Koch Disruptive Technologies
and New Enterprise Associates. 35 Including American Express. 36 Led by TPG
Podium Series C 20 $125.0 U.S.
Growth. 37 Led by Warburg Pincus. 38 Led by Tiger Global Management. 39 Led
Spiir equity round 21
$5.1 Denmark by Great Hill Partners. 40 Led by Vertex Ventures. 41 Led by Lakestar.
© 2020 The Nilson Report

4 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive
Aluminum Payment Cards
from page 1...
aluminum, are scratch-resistant. They can be made What is distinctive about aluminum cards is the
in any color with bright and semibright finishes. All vibrancy of the color printing, which is also immune
edges are completely smooth. to fading or discoloring over time. AnoCards, which
AnoCards weigh 9.5 grams, are heavier than PVC cards but
are immediately lighter than other metal cards.
available for Anomatic can deliver cards premilled with pockets
identification, that accommodate chips and magnetic stripes from its
insurance, facilities in the U.S. All design, prototyping, tooling,
loyalty, and anodizing, and fabrication occur in the same plant.
private label The company operates over 90 stamping presses and
prepaid 14 anodizing lines. It can produce over 2.50 billion
use cases. units a year.
Accreditation
from Visa and Mastercard is in progress and hoped ...validated by third-party labs to
for by year-end 2020. Full-function contact-only
meet all relevant ISO standards.
AnoCards have already been validated by third-
party labs to meet all relevant ISO standards. The
cards cannot support contactless payments because Steve Rusch is VP Marketing and Business Development
aluminum blocks radio waves. at Anomatic in New Albany, Ohio, srusch@anomatic.
com, www.anomatic.com.

First Quarter Card Results in the U.S.

from page 1...
through Visa Direct and trillion in payment volume in the through March 31), up 4.9% from
Mastercard Send generated $1.626 first quarter of 2020 (January 1 the same period in 2019.
Credit card purchase
volume of $931.72 billion
U.S. General Purpose Cards 1Q 2020 vs. 1Q 2019 increased 3.1%. Cash volume
(from balance transfers,
Dollar Volume (bil.) Purchase Trans. ATMs, over the counter, and
Brand Total Chg. Purchases Chg. Cash Chg. (bil.) Chg.
paper checks) on credit cards
Visa Credit $ 507.08 3.9% $ 492.09 3.9% $ 14.99 2.1% 5.96 4.5% was $30.04 billion, up 5.6%.
Mastercard Credit $ 227.00 7.0% $ 216.89 6.6% $ 10.11 14.2% 2.46 9.5% Visa cards generated
$492.09 billion in credit card
American Express Credit $ 190.20 –2.7% $ 188.75 –2.7% $ 1.45 2.1% 1.40 0.7%
purchase volume, up 3.9%.
Discover Credit $ 37.47 3.0% $ 33.99 3.3% $ 3.49 0.0% 0.65 6.6% Mastercard purchase volume
CREDIT CARD TOTALS $ 961.75 3.1% $ 931.72 3.1% $ 30.04 5.6% 10.47 5.3% on credit cards was $216.89
Visa Debit & Prepaid $ 616.41 5.7% $ 491.78 7.6% $ 124.63 –1.1% 11.68 3.6% billion, up 6.6%. American
Express at $188.75 billion fell
Mastercard Debit & Prepaid $ 251.49 5.5% $ 202.51 7.5% $ 48.98 –2.0% 4.89 5.2%
2.7%, and Discover at $33.99
DEBIT CARD TOTALS $ 867.90 5.7% $ 694.29 7.6% $ 173.61 –1.3% 16.56 4.1% billion increased 3.3%.
CREDIT & DEBIT TOTALS $ 1,829.65 4.3% $ 1,626.01 4.9% $ 203.65 –0.3% 27.03 4.5% Cash accounted for 3.12%
of total credit card volume,
Visa Totals $ 1,123.49 4.9% $ 983.87 5.7% $ 139.62 –0.7% 17.63 3.9%
up from 3.05% in the first
Mastercard Totals $ 478.49 6.2% $ 419.40 7.0% $ 59.09 0.5% 7.35 6.6% quarter of 2019.
V&MC TOTALS $ 1,601.98 5.3% $ 1,403.27 6.1% $ 198.71 –0.4% 24.98 4.7% Combined purchase and
cash volume on Visa and
Includes all consumer, small business, and commercial credit, debit, and prepaid cards. American Express includes
Mastercard debit and prepaid
business from third-party issuers. Figures include PIN-based debit card figures for Visa (Interlink) and Mastercard to
match their reporting. © 2020 The Nilson Report cards plus Visa Direct and
> see p. 6

© 2020 HSN Consultants, Inc. THE NILSON REPORT MAY 2020 / ISSUE 1175 / THE NILSON REPORT 5
 First Quarter Card Results in the U.S.
from page 5...
Mastercard Send volume reached Of all card transactions at share decreased 39 basis points
$694.29 billion, up 7.6%. Visa merchants, credit cards accounted over the first quarter of 2019.
payment volume (including for 38.73%, up from 38.46% a year Mastercard’s market share of
Visa Direct) credit card purchase transactions
on debit and Credit card purchase volume of was 23.54%, up 91 basis points.
prepaid cards American Express held a 13.38%
$931.72 bil. increased 3.1%.
increased 7.6%. market share of all credit card
Mastercard payment transactions, down 60
debit and prepaid card payment earlier. Transactions on Visa cards basis points. Discover held a 6.16%
volume (including Mastercard accounted for 56.92% of all credit share, up 8 basis points.
Send) grew 7.5%. card transactions. Visa’s market
Prior issue: 1157

Global Payments Gets Truist Credit Card Processing

from page 1...
SunTrust. Outstanding credit card receivables at
Truist exceeded $5.64 billion at year-end 2019. The
Truist Visa/Mastercard credit card portfolio ranks
16th largest in the U.S.
Conversion of BB&T’s credit card portfolio, which
is almost entirely comprised of Visa cards, will occur
in the 4th quarter of 2021. Tsys will begin processing
the accounts in 2022. In the meantime, accounts that
operate under the BB&T name will continue to be
processed by FIS. Tsys already handles card account
processing for SunTrust’s consumer and commercial
credit card portfolios. When combined, the Truist
credit card business includes 3.8 million Visa and
Mastercard accounts.
Truist owns two merchant acquiring processing
portfolios. Currently, Fiserv (First Data) handles
merchant account processing for SunTrust as part of
a revenue-sharing alliance. Tsys Merchant Services
point-of-sale terminal processing is wholesaled
by BB&T.
Fiserv (First Data) provides debit card account
processing services for SunTrust cards. Tsys handles
that function for BB&T. When combined, Truist is the
fifth largest debit card issuer in the U.S. Its more than
8.8 million Visa and Mastercard cards generated over
$46 billion in purchase volume in 2019.
Brad Strock is Executive VP, Card and Direct to Consumer
Lending at Truist in Wilson, North Carolina, bstrock@
bbandt.com, www.truist.com.
The credit card portfolio ranks
16th largest in the U.S.
Gaylon Jowers is Senior Executive VP, Global Payments
and President, Tsys Issuer Solutions in Columbus,
Georgia, gjowers@tsys.com, www.tsys.com.
Prior issues: 1171, 1170

Adflex B2B Digital Payment Processing

from page 1
The company was a pioneer
in providing services to large
corporations with support for Visa,
Mastercard, and American Express
purchasing card products. Today,
Adflex is increasingly using virtual
cards preloaded with invoice
information to replace purchasing
card transactions.
Adflex, which processed over
$4.00 billion in payments last
year, also supports push payments
(straight-through processing)
from suppliers directly from an
ERP system using commercial
credit lines. It helps buyers by
onboarding suppliers to accept
card payments. Transactions
include Level 3 data as well as
travel hand-off data sent directly to
card issuers.
The Adflex platform, which is
PCI-DSS v3.2.1 certified, supports
partial settlements and refunds
and recurring payments. Users can
request real-time analytics as well
as tokens for card transactions.

6 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive
 Adflex offers a virtual terminal with web Global Payments, and American Express. Elavon
application. Merchants can upload files for Adflex to recently signed a Europe-wide partnership with
process. The Adflex. Mastercard has selected Adflex as a partner in
Adflex card Europe to test its Track Business Payment Service.
payment API Adflex is an Amazon Web Services partner. It
integrates into is also building the capability to offer Google Low
a merchant’s Code, which utilizes a visual approach to application
ERP system development. Developers with little experience can
or payment use a graphical user interface with drag-and-drop
platform. The company is fully integrated with SAP components and model-driven logic to create web and
and offers customers worldwide access to merchant mobile applications.
acquiring services. Pat Bermingham is CEO at Adflex in London, U.K., patb@
Customers include Barclaycard, HSBC, Visa, BNP adflex.co.uk, www.adflex.co.uk.
Paribas, Citi, Bank of America, Fiserv (First Data),

Top 45 Merchant Acquirers in Europe

from page 1...
general purpose debit and credit
Top Acquirers in Europe card transactions they handled
in 2019. In both charts, purchase
Ranked by Transactions (Bil.) Ranked by Purchase Volume (Bil.) transactions counted include in-
1. Sberbank 1 20.61 1. Worldpay $404.26 store, online, and mobile (web
and in-app).
2. Worldpay 9.67 2. Barclays $373.42
The chart on this page ranks
3. Barclays 7.34 3. Nets 2
$217.10 Europe’s 20 largest merchant
4. J.P. Morgan 4.62 4. Worldline 3
$200.43 acquirers by purchase volume
5. Nets 2 4.42 5. Sberbank 1 $186.82 (spending for goods and services)
and purchase transactions. The
6. Credit Agricole 3.94 6. Credit Mutuel $182.97
chart on page 12 ranks the 25
7. Worldline 3 3.87 7. Credit Agricole $176.52 largest acquirers based on online
8. Credit Mutuel 3.86 8. Global Payments 10 $127.55 and mobile purchase transactions.
9. Swedbank 3.25 9. Elavon $125.12 Global brand and domestic-only
cards are combined on both charts.
10. Adyen 4 3.01 10. Payone 5 $123.32
Of the eight domestic-only
11. Elavon 2.82 11. J.P. Morgan $122.28 general purpose debit and credit
12. Payone 5
2.49 12. Adyen 4
$116.12 card brands in Europe identified
13. Evo Payments Int’l 5
2.49 13. Nexi Payments 8
$112.44 by the acquirers listed here, the
four largest based on purchase
14. BPCE 2.26 14. BPCE $103.21
transactions were Mir, girocard,
15. VTB Bank 6
2.24 15. BNP Paribas $102.76 Bancontact, and Pagobancomat.
16. BNP Paribas 2.14 16. Societe Generale 7
$89.37 In the table on pages 8 and
17. Societe Generale 7
1.75 17. Lloyds Bank Cardnet $89.09 9, only Visa and Mastercard
transactions are counted. That
19. Nexi Payments 8
1.74 18. Intesa Sanpaolo 8 $88.50
chart does not include American
18. Comercia Global 9
1.70 19. Swedbank $87.00 Express, Diners Club, JCB,
20. Intesa Sanpaolo 8
1.68 20. Comercia Global 9
$63.99 UnionPay, or domestic-only cards.
Includes all card brands: Mastercard, Visa, American Express, Diners Club, JCB, UnionPay, and domestic general Those 45 acquirers processed
purpose credit and debit cards. 1 Includes PRO100 and Mir figures. 2 Includes Dankort and girocard figures. 3 Includes 94.50 billion (up 19.5%)
Bancontact and girocard figures. 4 Estimate. Includes unidentified brand of domestic debit and credit figures. 5 Includes Mastercard and Visa card
girocard figures. 6 Includes Mir figures. 7 Includes Cartes Bancaires figures. 8 Includes Pagobancomat figures. 9 Includes
Multibanco figures. 10 Estimate. Does not include the UCS Russia business, the Comercia Global Payments joint venture transactions in 2019 from 11.7
in Spain, or the joint venture in Central and Eastern Europe involving Global Payments, Caixa Bank, and Erste Group. million active merchant outlets.
© 2020 The Nilson Report
> see p. 8

© 2020 HSN Consultants, Inc. THE NILSON REPORT MAY 2020 / ISSUE 1175 / THE NILSON REPORT 7
 Top 45 Merchant Acquirers in Europe
from page 7
Mastercard and Visa purchase volume combined was
$3.415 trillion.
Of the 45 largest merchant acquirers in Europe, 27
handled more than 1 billion Mastercard and Visa card
payments last year. That group handled a combined
89% of the purchase transactions and 88% of the
purchase volume.
Mastercard and Visa purchase volume and
transactions included in the web-based column
in the chart below are the online and mobile
business of those acquirers. Web-based is a subset
of the Mastercard/Visa column to the left side of
those figures.
in Central and Eastern Europe involving Global The 45 largest acquirers handled 315.3 million (up
Sberbank remained Europe’s largest Mastercard/ Payments, CaixaBank, and Erste Group moved to 11.1%) transactions from American Express, Diners
Visa merchant acquirer, a position it has held since 43rd from 45th. Club, Discover, JCB, and UnionPay credit cards last
2016. Sberbank dominates acquiring in Russia, where Tinkoff Bank made the Top 45 ranking for the year. Those payments were valued at $24.79 billion.
it is over 8 times larger than its nearest competitor. first time and took the J.P. Morgan Merchant
J.P. Morgan Merchant Services pulled ahead of 44th place. 27 acquirers processed 1+ bil. Services acquired 34.7%
Credit Agricole and Credit Mutuel to become Europe’s The 45 largest acquirers of that business.
4th largest Mastercard/Visa acquirer in 2019. handled 18.11 billion (up
Mastercard/Visa transactions. Russia-based Mir led
VTB Bank moved up to 15th largest in 2019, up 44.4%) web-based (online Europe’s domestic-only
from 17th in 2018. UniCredit moved to 25th largest, and mobile) transactions in 2019 valued at $975.24 debit and credit brands with 4.86 billion transactions
up from 26th. Gazprombank moved up to 30th billion. J.P. Morgan Merchant Services held a 24.9% handled by acquirers listed here. In 2019, Sberbank
from 33rd. Payone, owned by Ingenico since the first market share of all web-based transactions among the acquired 4.37 billion Mir transactions. Another 494.4
quarter of 2019, moved to 32nd from 38th. top 45 acquirers in Europe. Adyen’s share was 14.9%, million Mir transactions were acquired collectively
Santander Espana Merchant Services moved up to Worldpay’s share was 14.4%, Barclay’s share was
38th from 39th. Global Payments, the joint venture 6.3%, and Sberbank held a 6.0% share. > see p. 12

Largest Merchant Acquirers in Europe 2019 Ranked by Mastercard/Visa Transactions

Mastercard/Visa 1 Web-Based 2 Active Mastercard/Visa 1 Web-Based 2 Active
Rank Transactions Volume Transactions Volume Merchant POS Rank Transactions Volume Transactions Volume Merchant POS
‘19 ‘18 Company, Headquarters (mil.) Chg. (mil.) Chg (mil.) (mil.) Outlets Terminals ‘19 ‘18 Company, Headquarters (mil.) Chg. (mil.) Chg (mil.) (mil.) Outlets Terminals
1 1 Sberbank, Russia 3 16,238.4 35% $ 151,930.4 24% 1,090.9 $ 12,148.9 1,339,960 2,101,761 23 23 First Data Polska, Poland 1,131.1 16% $ 15,641.1 14% 16.1 $ 331.6 129,062 165,060
2 2 Worldpay, United Kingdom 9,652.7 11% $ 402,887.8 4% 2,603.5 $ 156,383.6 414,759 1,974,682 24 21 Lloyds Bank Cardnet MS, U.K. 17 1,109.8 3% $ 89,010.3 5% 170.0 $ 32,882.7 98,732 67,078
3 3 Barclays, United Kingdom 7,343.3 5% $ 373,414.2 9% 1,144.4 $ 171,678.5 114,056 172,020 25 26 UniCredit, Italy 18 1,082.5 20% $ 45,686.4 12% 35.9 $ 2,146.9 352,495 440,619
4 6 J.P. Morgan Merchant Services, Ireland 4,450.5 24% $ 113,684.9 17% 4,499.3 $ 111,324.4 — — 26 24 Yapi Kredi Bank, Turkey 19 1,071.9 11% $ 31,501.2 15% 114.9 $ 5,413.8 358,746 708,989
5 4 Credit Agricole, France 3,936.9 9% $ 175,553.9 7% 344.0 $ 19,503.4 348,397 458,020 27 27 AIB Merchant Services, Ireland 20 1,032.7 24% $ 55,760.9 15% 554.3 $ 31,991.6 84,994 41,229
6 5 Credit Mutuel, France 3,862.5 7% $ 182,673.4 6% 254.9 $ 28,644.4 294,293 360,857 28 25 T. Isbank, Turkey 21 993.2 5% $ 28,344.7 15% 145.2 $ 9,609.9 351,893 489,324
7 7 Swedbank, Sweden 4 3,246.2 4% $ 87,004.3 6% 124.4 $ 5,587.2 104,250 200,324 29 28 Banco de Sabadell, Spain 796.6 9% $ 39,360.4 19% 63.9 $ 4,621.3 309,438 330,551
8 8 Nets, Denmark 5
2,899.9 28% $ 143,892.7 75% 426.2 $ 29,749.5 381,100 808,080 30 33 Gazprombank, Russia 22
782.1 49% $ 10,357.6 33% 146.1 $ 3,633.0 39,357 101,134
9 9 Elavon, Ireland 2,816.6 27% $ 123,899.7 12% 589.8 $ 47,946.1 665,475 389,848 31 30 BBVA, Spain 719.6 9% $ 40,413.2 21% 86.4 $ 6,616.0 296,038 302,622
10 — Adyen, Netherlands 6 2,749.7 — $ 104,499.8 — 2,688.7 $ 102,169.7 — — 32 38 Payone, Germany 23 705.4 44% $ 41,736.2 29% 52.8 $ 3,730.4 346,251 435,960
11 10 Evo Payments International, Germany 7
2,476.2 19% $ 61,230.8 15% 36.0 $ 4,478.0 291,257 346,744 33 31 Akbank, Turkey 24 699.5 6% $ 21,181.0 17% 52.9 $ 2,298.2 412,231 551,075
12 11 Worldline, France 8
2,433.4 20% $ 133,985.9 14% 211.3 $ 17,044.7 486,837 666,230 34 29 Market Pay, France 25
690.6 -3% $ 32,950.3 -6% 10.0 $ 1,155.6 2,404 42,465
13 12 BPCE, France 2,260.0 12% $ 103,144.7 10% 123.0 $ 13,730.2 344,000 423,100 35 32 Handelsbanken, Sweden 26 615.1 8% $ 22,953.3 -1% 37.3 $ 2,465.0 31,319 49,245
14 13 BNP Paribas, France 2,136.0 16% $ 102,758.3 13% 406.0 $ 25,534.2 136,683 188,716 36 35 Bambora, Sweden 27 594.6 16% $ 24,957.9 15% 191.2 $ 11,341.7 70,503 67,080
15 17 VTB Bank, Russia 9
1,986.4 60% $ 22,649.3 -10% 306.1 $ 9,693.9 108,803 220,226 37 34 La Banque Postale, France 28 588.6 14% $ 24,275.9 15% 110.6 $ 8,422.4 59,020 145,012
16 14 Societe Generale, France 10 1,746.5 6% $ 89,345.0 6% 99.6 $ 11,422.3 151,002 261,603 38 39 Santander España MS, Spain 560.3 17% $ 24,767.0 12% 43.4 $ 3,201.4 176,533 259,802
17 15 Comercia Global Payments, Spain 11 1,642.2 13% $ 61,427.5 9% 101.1 $ 8,167.2 427,272 478,374 39 36 Unicre, Portugal 546.2 9% $ 22,392.3 6% 3.3 $ 257.4 84,765 110,925
18 16 Global Payments, United Kingdom 12 1,579.1 11% $ 126,875.1 10% 139.2 $ 23,864.8 192,519 517,487 40 40 Bankia, Spain 527.0 18% $ 22,768.0 10% 16.9 $ 1,652.4 164,560 170,327
19 18 Nexi Payments, Italy 13
1,393.0 15% $ 89,536.4 6% 48.0 $ 3,917.1 888,175 894,175 41 41 CSOB, Czech Republic 493.2 22% $ 11,601.7 10% 35.6 $ 1,271.2 67,794 108,819
20 19 Garanti Bank, Turkey 14 1,252.8 5% $ 32,877.6 15% 105.6 $ 5,745.8 551,475 665,355 42 42 BofA Merrill Lynch MS, U.K. 365.9 -3% $ 12,077.1 0% 359.9 $ 11,940.0 — —
21 20 Intesa Sanpaolo, Italy 15 1,161.7 3% $ 58,377.0 -6% 65.2 $ 4,309.5 324,998 555,793 43 45 Global Payments, Czech Republic 29 358.8 11% $ 12,224.6 16% 14.7 $ 729.2 88,359 45,497
22 22 Raiffeisen Bank (Group), Austria 16
1,141.8 13% $ 26,133.6 8% 76.0 $ 2,409.0 105,022 190,025 44 50 Tinkoff Bank, Russia 30 321.8 51% $ 11,934.9 61% 275.6 $ 11,622.1 45,164 48,427
Figures are net (gross minus chargebacks). 1 Mastercard and Visa credit, debit, and prepaid cards including Maestro and Electron. Change in volume is based 45 43 Russian Standard Bank, Russia 31
312.5 -15% $ 5,754.7 9% 85.2 $ 2,455.1 416,118 667,320
on local currency. 2 Web-based figures include all card brands (Mastercard, Visa, American Express, Diners Club, JCB, UnionPay, and domestic general purpose Banks Division. Pagobancomat figures (462.4 mil., $25.78 bil.) are not included. 16 Includes Austria, Germany, Russia, Ukraine, Belarus, Romania, Bulgaria,
credit and debit cards). 3 PRO100 and Mir figures (4.37 bil., $34.75 bil.) are not included. 4 Includes Norway, Denmark, Estonia, Finland, Latvia, and Lithuania. Slovakia, Czech Republic, Poland, Croatia, Bosnia, Serbia, Kosovo, and Albania. 17 Joint venture between Lloyds Bank and First Data. 18 Includes Germany, Austria,
5
Acquired Concardis. Dankort and girocard figures (1.51 bil., $72.15 bil.) are not included. 6 Estimate. 7 Includes its pan-European operation in Germany including Poland, Russia, Croatia, Bulgaria, Romania, Ukraine, Hungary, Czech Republic, Slovakia, Slovenia, Bosnia, Serbia, and Ajerbaijan. Pagobancomat figures (194.8
branches in the U.K. and Ireland, eService in Poland and the Czech Republic, and Universalpay Entidad De Pago, S.L. in Spain. Girocard figures (10.8 mil., $897.5 mil., $11.12 bil.) are not included. 19 Troy figures (16.5 mil., $196.1 mil.) are not included. 20 Joint venture between Allied Irish Bank and First Data. 21 Troy figures
mil.) are not included. 8 Bancontact and Girocard figures (1.44 bil., $64.32 bil.) are not included. 9 Mir figures (256.1 mil., $4.18 bil.) are not included. 10 Cartes (15.0 mil., $1.16 bil.) are not included. 22 Mir figures (147.9 mil., $1.56 bil.) are not included. 23 Payone, owned by Ingenico since the first quarter of 2019. Girocard
Bancaires figures (0.7 mil., $27.3 mil.) are not included. 11 Joint venture between CaixaBank and Global Payments. Also includes its acquiring business in Portugal. figures (1.79 bil., $81.33 bil.) are not included.24 Troy figures (5.6 mil., $59.1 mil.) are not included. 25 Cartes Bancaires figures (0.3 mil., $10.0 mil.) are not included.
Multibanco figures (55.9 mil., $2.31 bil.) are not included. 12 Estimate. Does not include the UCS Russia business, the Comercia Global Payments joint venture 26
Includes acquiring in Norway, Finland, and Denmark. 27 Owned by the Ingenico Group. 28 Cartes Bancaires figures (2.7 mil., $126.0 mil.) are not included.
in Spain, or the joint venture in Central and Eastern Europe involving Global Payments, CaixaBank, and Erste Group. 13 Pagobancomat figures (345.4 mil., $22.90 29
Estimate. Joint venture in Central and Eastern Europe involving Global Payments, CaixaBank and Erste Group. 30 Mir figures (49.5 mil., $606.4 mil.) are not
bil.) are not included. 14 Troy figures (30.3 mil., $572.3 mil.) are not included. 15 Includes 33 countries in Europe and the Intesa Sanpaolo International Subsidiary included. 31 Mir figures (41.0 mil., $411.2 mil.) are not included. © 2020 The Nilson Report

8 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive © 2020 HSN Consultants, Inc. THE NILSON REPORT MAY 2020 / ISSUE 1175 / THE NILSON REPORT 9

Payment Industry’s Response to Covid-19—Part 3
from page 1
Payment Cards
A New York Federal Reserve
Bank study revealed household
debt in the United States increased based B2B payment specialist
1.1% to $14.300 trillion in the
first quarter of 2020 despite a
larger than expected $34-billion
seasonal decline in credit card
debt. The JPMorgan Chase
Institute found that household
spending on Chase credit cards
fell 40% year over year by the
end of March despite a frenzy
of early spending on household
essentials when the implications
of stay-at-home orders became
apparent. Chase is the largest U.S. nationwide were up over 51%,
credit card issuer ranked by credit while CNP counted for nearly 60%
card outstandings.
Brazilian payment processor
StoneCo laid off 1,300 employees,
roughly 20% of its workforce.
Digital wallet provider PicPay
surpassed 20 million customers
seven months ahead of
precoronavirus projections. Trade
association UK Finance reported
that issuers in the U.K. offered
payment holidays to 700,000
credit cardholders in the month
of April. The association said
27 million card accounts were
offered three months of interest-
free borrowing on the first $610
(£500) of overdrafts. Issuer
Virgin Money UK suspended,
then reinstated, new purchases on
U.S. household debt increased
1.1% to $14.300 trillion.
more than 30,000 credit cards in
the first week of May, seemingly
against prior guidance by the U.K.’s resolving rent disputes and
Financial Conduct Authority.
Visa, Mastercard, American
Express, and Discover announced
delays in implementing changes to
interchange and other merchant
fees until April 2021.
10 VISIT US ONLINE AT WWW.NILSONREPORT.COM
Despite a January purchase
agreement, Wex is attempting to
terminate its purchase of U.K.-
Optal and Australia-based travel
payment firm eNett.
PSCU, a top provider of card
account processing services to
credit unions in the U.S., reported
that credit card spending is down
more than 20% in the states
hardest hit by Covid-19. However,
debit card spending is up 8.5% in
those same states. PSCU said card-
not-present (CNP) transactions
among its member credit unions
of all purchase volume.
India’s government expanded
low-interest credit offered to the
country’s hard-hit agricultural
sector through Kisan Credit
Cards available from 10 regional,
cooperative, and public sector
banks. The Reserve Bank of India
called for a moratorium on credit
card payments in April.
In the United Kingdom,
K Wearables and its partner
Moorwand were overwhelmed
by demand after they offered
300 rings with embedded
EMV-compliant contactless
payment technology to frontline
workers in the National Health
Service (NHS). Payment card
manufacturers
Cardel, Nitecrest,
and Allpay
partnered to
produce protective
visors for the NHS. Flatfair
introduced a software tool for
creation of payment plans between
residential leaseholders and
landlords. TrueLayer, provider of
APIs customers deploy to facilitate
open banking, launched a fee-
free standalone app to initiate
Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive
rest of the year...I want us to be
able to handle as much as 50%
occupancy in most locations by the
account-to-account transfers to end of the year. But I want to be
charities. Cross-border payment clear that I don’t expect us to get
platform Rapyd waived foreign anywhere near the 50% mark by
exchange and processing fees the end of 2020…We are going to
on the first $100,000 in total phase in the number of people in
processing volume for new each location, starting slowly at as
businesses in the U.S., Brazil, low as 10% occupancy…we’ll have
and Mexico. procedures for seating and moving
In Canada, Mastercard’s around in each building to ensure
RiskRecon unit responded to
escalating criminal hacking by
extending a free cybersecurity U.K.
assessment service. Mobile
payment provider bKash, the Issuers offered payment
holidays to 700,000
customers in April.
U.S.
Wex is attempting to terminate
January purchase agreements
A Chase study found house-
hold spending on its cards fell for Optal (B2B payments) and
40% YOY in March. eNett (travel payments).
Shopify reported a 62%
increase in storefronts and
a 47% rise in revenue. social distancing…That means no
meetings in conference rooms and
no visitors or contractors in our
BRAZIL buildings…we’ll be enhancing our
cleaning protocols, making hand
PicPay’s digital wallet reached sanitizers readily available, and
20 million customers seven optimizing our air conditioning
months ahead of projections. systems…enhanced screening and
monitoring of everyone entering
our offices, including ways to
largest in Bangladesh, reported a measure temperatures.”
$12-million surge in remittance
funds in April, up from $3 million Policy
in March. The World Economic Forum
released a study recognizing the
Back to Work contributions of digital payment
American Express’s CEO, technology during a pandemic
Stephen Squeri, speaking to through the lens of China’s
employees via video, said, “We still accelerated adoption of digital
don’t know exactly when we will payments following the outbreak
start coming back (to the office) of SARS in 2003. In the United
but we expect it will take several States, a coalition was formed
months in most locations…for the to encourage preservation of cash
most part our offices in the near payments. Members include the
term will be alternative workspace Amusement and Music Operators
for people...In fact, if you can Association, the National Armored
work from home effectively, you Car Association, and ATM
should plan on doing so for the manufacturer Diebold Nixdorf.
© 2020 HSN Consultants, Inc. THE NILSON REPORT
Bridges in the U.S. city of
Philadelphia resumed accepting
cash for payment of tolls. The U.S.
Department of Transportation
took the unusual step of reiterating
its position on air travel refunds,
and a bill called the Cash Refunds
for Coronavirus Cancellations Act
of 2020 was put forward by United
States Senators.
CHINA
WeChat Pay will be
distributing over $1.4 bil-
lion worth of government-
issued spending vouchers.
BANGLADESH
bKash reported an
$12-million surge
in remittance funds.
Retail Shift
ACI Worldwide documented
the rapid shift from spending in
brick-and-mortar stores to online
merchants. The company’s analysis
indicates that general retail
ecommerce grew 209% year over
year in April, while gaming (126%)
and digital downloads (26%) also
saw significant
increases. Retail ecommerce grew 209%
Indian payment
year over year in April.
platform provider
Simpl reported
a 30%-35% increase in
transactions on essential items.
A Mastercard research report
on 12,500 consumers in Europe
reported a 36% uptick in online
spending on essentials, as well
as a surge in spending on books,
online entertainment, and
exercise equipment.
There was a 62% increase in
new online storefronts created
on Shopify’s ecommerce
platform, while the company’s Q1
revenue increased 47% year over
year. Square responded to the
MAY 2020 / ISSUE 1175 / THE NILSON REPORT
pandemic by helping merchants
move to ecommerce and curbside
pickup with its Online Checkout
function. Weekly gross payment
volume on the company’s online
store has grown 500% since the
launch of its curbside capability.
Square, heavily dependent on
brick-and-mortar stores, closed Q1
with a loss of $106 million. Klarna
reported U.S. customers initiated
25% more transactions with
airlines in the week ended May 9
than the prior week.
The U.S. Department of
Commerce found that April
retail sales were down 16.4% from
March and down 21.6% from
April 2019. Retail apparel took an
especially large hit with an 89.3%
year-over-year decline. Retailers
J. Crew, Neiman Marcus, and
JCPenney filed for bankruptcy
protection. All three have private
label credit card programs. In
its earnings call, Evo Payments
reported recently dormant
merchants are making and taking
payments again after 35% of its
customers ceased trading following
the imposition of lockdown
orders. China’s National Bureau
of Statistics reported retail sales
of consumer goods were down
in April by 16.2% year over year.
Tencent announced more than
$1.4 billion worth of WeChat
Pay Spending Vouchers will be
distributed. Tencent’s first quarter
earnings of $15.2 billion were led
by its online gaming companies.
The company’s fintech holdings,
which include WeChat Pay and
a stake in Afterpay, were up 22%
year over year, but down 12% from
the previous quarter.
Prior issues: 1174, 1173
11
 © 2020 HSN Consultants, Inc. THE NILSON REPORT All Rights Reserved. Reproducing or allowing reproduction or dissemination of any portion of this newsletter in any manner for any purpose is strictly prohibited and
may violate the intellectual property rights of HSN Consultants, Inc. dba The Nilson Report.

Top 45 Merchant Acquirers in Europe

from page 9...
by Gazprombank, Russian In Denmark and Germany, In Italy, Nexi Payments,
Standard Bank, Tinkoff Bank, and Nets acquired 1.51 billion Dankort Intesa Sanpaolo, and UniCredit
VTB Bank. and girocard transactions, which combined to acquire 1.00 billion
In Belgium, Worldline are included due to its merger Pagobancomat transactions.
acquired 1.44 billion with Concardis. In Germany, EVO Payments
Bancontact transactions. and Payone with a majority market
share combined to acquire 1.80

Top 25 Acquirers of Web* Transactions billion girocard transactions.

Garanti, Yapi Kredi Bank,
Web Trans. T. Isbank, and Akbank acquired
Acquirer Country (Mil.) Share of Its Total Transactions 67.5 million Troy transactions
J.P. Morgan Ireland 4,499 97.3% in Turkey.
Adyen 1 Nether. 2,689 89.2% Domestic-only debit and credit
card transactions processed by the
Worldpay U.K. 2,604 26.9%
top 45 acquirers in Europe reached
Barclays U.K. 1,144 15.6% 11.01 billion in 2019, up 50.8%
Sberbank Russia 1,091 5.3% from the prior year, and generated
Elavon Ireland 590 20.9% $336.14 billion in purchase
volume. Figures for all acquirers
AIB Mer. Services Ireland 554 53.6%
that handled domestic-only debit
Nets Denmark 426 9.7% and credit cards are provided in
BNP Paribas France 406 19.0% the footnotes. Growth in domestic-
BofA Merrill Lynch U.K. 360 98.4% only card transactions exceeded
growth in global brand cards for
Credit Agricole France 344 8.7%
the third consecutive year.
VTB Bank Russia 306 13.6% Transactions handled by
Tinkoff Bank Russia 276 74.2% processors iZettle, Klarna, and
Credit Mutuel France 255 6.6% SumUp are counted at acquirers
listed here.
Worldline France 211 5.5%
When Adyen and Wirecard act
Bambora Sweden 191 32.1% as third-party processors, those
Lloyds Bank Cardnet U.K. 170 15.3% transactions are settled through
Gazprombank Russia 146 15.7% acquirers listed here. Both also
have licenses to acquire directly in
T. Isbank Turkey 145 14.4%
Europe. Adyen’s acquiring volumes
Global Payments 1 U.K. 139 8.8% are listed here. Wirecard’s are not
Swedbank Sweden 124 3.8% because those volumes are too low
BPCE France 123 5.4% to make the ranking.

Alfa Bank Russia 117 97.7%

Prior issues: 1153, 1132, 1110,
Yapi Kredi Bank Turkey 115 10.6% 1087, 1065
La Banque Postale France 111 18.7%
* Online and mobile (web and in-app.) 1Estimate. © 2020 The Nilson Report

David Robertson, Publisher

May 19, 2020

12 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive