A Generational Look at Card Network Usage

Four major card networks operate in the U.S. market. The largest network is Visa, which accounted for $3.2 trillion in credit purchase volume in the United States in 2024. Mastercard followed with $1.6 trillion that year in purchase volume among its credit programs. Mastercard and Visa operate on the four-party network model, serving as intermediaries between the merchant acquirer and the issuing bank to authorize, settle, and clear payments. The other two prominent networks are American Express and Discover, both of which operate as the card issuer and the network intermediary. Discover issues popular cards such as the Discover it card program and the NHL Discover it card, while American Express has several card plans such as the Platinum and Gold cards and cobrands such as Marriott Bonvoy, Hilton Honors, and Delta SkyMiles.

Companies Mentioned:

American Express, Bank of America, Chase, Citi, Delta Airlines, Diners Club, Discover, Hilton, JCB, Marriott, Mastercard, NHL, Union Pay, Visa