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Credit Card Industry Company Overview
The global credit card industry processes trillions of dollars annually, with steady growth in both usage and technology adoption. In the United States alone, there are over 600 million active credit card accounts, with total annual spending exceeding $5 trillion. Major networks such as Visa, Mastercard, American Express, and Discover dominate the space, with Visa and Mastercard accounting for over 70 percent of U.S. purchase volume. The market continues to shift toward contactless and mobile payment options, and consumer debt patterns reflect more cautious behavior, with lower delinquency rates and higher average credit scores, especially among younger users. Interest rates remain elevated, averaging above 20 percent, which may dampen borrowing but also increase profitability for issuers. The proposed merger between Capital One and Discover could reshape the competitive landscape. Meanwhile, emerging fintech products and stablecoin-based payment models are beginning to challenge the long-standing dominance of traditional card networks, prompting legacy providers to expand into fraud prevention, consulting, and digital infrastructure to maintain relevance.