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Payments using traditional debit cards (payroll cards,
I consider this Fed study to be the those linked to checking accounts) grew fast, too, at a
most comprehensive and reliable CAGR of 6.5 percent in volume and 12.7 percent in value.
In all, the Fed counted 87.8 billion debit card payments
source of information on retail valued at $3.94 trillion in 2021.

payment trends. Hands down. Credit cards were the second fastest growing card
payment type used, rising to 51.1 billion in 2021, from
44.7 billion three years earlier. The total value of general-
purpose credit card transactions in 2021 was $4.52 trillion,
Cards a mixed bag compared to $3.64 trillion three years earlier.
Despite a temporary drop in 2020, the number of credit,
debit, EBT and prepaid card payments registered a CAGR Private-label credit cards were used for 3.3 billion
of 6.2 percent from 2018 to 2021, to total 157 billion. Monies payments totaling $360 billion in 2021. That's down from
spent with cards totaled $9.43 trillion, registering a 10 3.8 billion payments in 2018, but up slightly from $340
percent CAGR for those three years. billion in total value.

"The increase in the number of card payments accounted Finally, ATM card usage is down, dropping 10 percent in
for more than 84 percent of the growth in the number of the number of transactions to total 3.7 billion valued at
noncash payments from 2018 to 2021," the Fed wrote. $730 billion. But the average ATM cash withdrawal grew
to $198 in 2021 from $156 in 2018.
Prepaid cards saw a big uptick in usage—a three-year
CAGR of 9.6 percent by number (to total 18.1 billion in Patti Murphy is senior editor at The Green Sheet and self-described
2021) and 20.6 percent by value ($610 billion). But as the payments maven of the fourth estate. She also co-hosts the Merchant
numbers suggest, the average prepaid card transaction Sales Podcast.
was just $34.

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