Processing & Technology, Credit Processing & Technology, Credit
Rom Mascetti and Salvatore LoBiondo • 11 May, 2023

Infographic: Card Scheme Performance, 2022-2023

Image and Logo Credits: FreePik, Visa, and Mastercard

General Observations

  • Visa and Mastercard continue demonstrating strong performance. Cross-border is a key growth driver, significantly outpacing domestic volume with management citing travel and B2B as key drivers
  • While card counts have grown for both Visa and Mastercard (7% and 5%, respectively), average spend per card has declined
  • Visa and Mastercard both grew at approx. 11% quarter-over-quarter, again due in large part to cross-border related revenue growing 25% and 33%, respectively
  • North America continues to represent a significant portion of revenue for both card schemes
  • Client incentives as a % of GDV and net revenue as a % of GDV are headed up, but on a dollar basis incentives are growing at a faster rate than revenue

Please do not hesitate to contact Rom Mascetti at or Salvatore LoBiondo at with comments or questions.