Credit Cards and Mobile Payments Statistics

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The following Statistical Data have been accumulated from researching the internet of governmental and institutional  resources, including but not limited to – Statista.com, Consumer Financial Protection Bureau, The Nilson Report, McKinsey & Company- Global Payment Report 2019, European Central Bank, TCdata 360, Cardrates.com, Debt.org

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More Americans are Visa cardholders than Mastercard or American Express in 2019. Visa is the most popular credit card company in the world (123 countries).

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World’s first cashless country. 80% of Swedes use a card to pay for purchases. Even Swedish children use debit cards to pay for purchases.

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In the Euro Area (Data of 2018), point of sale (POS) terminals have increased by 11.2% (10.5 million) as well as an increase in number of cards issued with payment function 4% (544Million) and increase in card transactions by 13% (total value 8 trillion) with average value per transaction of 44€.

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American household credit card debt continues to grow. Since 2015 to Q2 2019 it has increased by 31% . As of June 2019, the average credit card debt per household is $8,398. That is a total of 128 million Americans carrying a  total of $1.07 trillion in credit card debt as of June 2019.

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Alaska residents of all states in the US, carried the highest average of credit card debt among the states $10,685. The lowest being Iowa with an average household credit card debt $6726 in 2019.

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Highest country ranking for people over 15+ years who have a credit card is  58% ( Data from2017).

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Updated July 12, 2020

Digital Banking and Debit Cards

Updated June 2, 2020

Transfer money Apps (with optional debit cards)

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Money Transfer Apps make sending money and receiving money in
different currencies and countries all over the world, fast and flexible.

Fin Credit CardsThey offer a more user friendly interface with instant notifications, as well as saving you time and money with more reasonable fees. Many make shopping online easier, since you can use these apps with contactless payment of a stored card, bank account, credit/debit/ prepaid cards or even offer a digital credit line.

Fin Credit CardsAlthough these online money transfer services are relatively safe, there are always concerns about being secure with your data.

Tips for Using Credit and Debit Cards while Traveling Abroad

Inform your bank card company  when and where you will be traveling.

Download and activate your bank’s mobile app. The banks and credit processors can determine you are in the location of the card you are attempting to use with the mobile phone GPS location service.

Bring cards from different networks -Mastercard/Cirrus and Visa/Plus and keep an extra card in your room just in case for lost or stolen wallet while you are out.

Consider paying with credit cards when available instead of withdrawing cash from foreign ATM that inflate exchange rate and charge withdrawal fees. Credit cards charge interest on cash advances from the moment of withdrawal.

Know your fees foreign transaction fees on your card as well as the exchange rate. Purchases in your home country currency may be better option than in the country you are visiting.
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Santorini, Greece. Source: Micelleraponi/ pixabay.com