Debit cards and prepaid cards are two of the most popular payment methods among consumers. For example, 30% of purchases were made with a debit card in 2024, while a credit card was used 35% of the time and 14% of purchases were paid for with cash. Plus, the number of debit cards in circulation increased by 97% from 2014 to 2024. You can check out the latest prepaid card and debit card statistics below to learn more.
Key Stats
- Total debit cards in circulation (2024): Mastercard (358 million) and Visa (1012 million)
- Market share of debit cards by purchase volume (2024): Visa (75.74%) and Mastercard (24.26%)
- Amount loaded onto prepaid cards (2022): $659 billion
Debit Cards
Debit Card Market Share by Number of Cards in Circulation
| Info | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mastercard | 358 | 341 | 333 | 299 | 257 | 233 | 210 | 199 | 189 | 185 | 172 | 157 | 143 | 133 | 123 | 123 | 124 | 113 |
| VISA | 1012 | 937 | 909 | 779 | 653 | 629 | 577 | 542 | 527 | 484 | 469 | 439 | 423 | 420 | 418 | 394 | 333 | 321 |
| Total | 1370 | 1278 | 1242 | 1078 | 910 | 862 | 787 | 741 | 716 | 669 | 641 | 596 | 559 | 540 | 542 | 517 | 457 | 434 |
Note: The values in the above chart are in millions.
(Source: SEC filings from Visa and Mastercard)
- In 2024, credit and debit cards accounted for 65% of total payments, up from 62% in 2023.
(Source: Federal Reserve Bank, “Diary of Consumer Payment Choice”, 2025)
- 85% of U.S. adults have at least one debit card (across all age groups, income brackets, and education levels).
(Source: Research and Markets, 2022 U.S. Consumer Payment Choice: Understanding Debit Card User Preference)
- In 2020, consumers made majority of their payments with debit cards, followed by credit cards and cash.
(Source: Federal Reserve Bank of Atlanta, “Consumer Payment Choice”, 2020)
Debit Card Market Share by Purchase Volume
| Year | Visa Purchase Volume in Billions | Mastercard Purchase Volume in Billions | Total Purchase Volume in Billions |
|---|---|---|---|
| 2024 | $3,927 | $1,258 | $5,185 |
| 2023 | $3,188 | $1,160 | $4,348 |
| 2022 | $2,990 | $1,121 | $4,111 |
| 2021 | $2,805 | $1,091 | $3,896 |
| 2020 | $2,230 | $905 | $3,135 |
| 2019 | $1,952 | $791 | $2,743 |
| 2018 | $1,769 | $725 | $2,494 |
| 2017 | $1,570 | $642 | $2,212 |
| 2016 | $1,465 | $619 | $2,084 |
| 2015 | $1,375 | $581 | $1,956 |
| 2014 | $1,272 | $536 | $1,808 |
| 2013 | $1,187 | $491 | $1,678 |
| 2012 | $1,104 | $448 | $1,552 |
| 2011 | $1,152 | $393 | $1,545 |
| 2010 | $1,054 | $333 | $1,387 |
| 2009 | $883 | $327 | $1,210 |
| 2008 | $818 | $309 | $1,127 |
| 2007 | $725 | $269 | $994 |
| 2006 | $642 | $216 | $858 |
| 2005 | $554 | $146 | $700 |
(Source: SEC filings from Visa and Mastercard)
Prepaid Cards
Amount Loaded Onto Prepaid Cards by Year
| Info | 2027* | 2025* | 2023* | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Total (in Billions) | $1645.77 | $889.25 | $897.00 | $658.65 | $641.85 | $558.96 | $561.30 |
| Change from Prior Yr. | 85.07% | -0.86% | 36.19% | 2.62% | 14.83% | -0.42% | N/A |
Note: Figures for 2023 and beyond are projections
(Source: GlobeNewswire, United States Prepaid Cards Market Report 2022)
- The U.S. prepaid card market is expected to reach $1,645.77 billion by 2027 (up from $658.65 billion in 2022).
(Source: GlobeNewswire, United States Prepaid Cards Market Report 2022)
- The share of prepaid debit card payments dropped to 10.5% in 2018, compared to 11.1% in 2015.
(Source: Federal Reserve Payment Study, 2019)
WalletHub experts are widely quoted. Contact our media team to schedule an interview.