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US credit card total purchase value edges toward $1T mark

August 21, 2018

For the first time in history, the U.S. credit card processing industry is poised to pass the $1 trillion mark in total purchase value in Q4, according to a report by Forbes.

In Q2, total value grew nearly 10 percent year over year to a total of $927 billion, compared with $844 billion in 2017.

While Visa retains the number one spot in the industry with a 53 percent market share, the No. 2 position is up for grabs as American Express successfully implements an ambitious growth strategy, Forbes said.

Source: Forbes