The Nilson Report

Nilson Report is the payment-card industry newsletter that other analysts quote when they need purchase volume, issuer rankings or fraud losses. It is published by HSN Consultants, Inc., comes out six times a year, and the latest issue is number 1315 from September 2026. The publisher stresses it takes no advertising and that no company can pay to be featured; it has run for 56 years.

What is inside

The data side covers payment card issuing and merchant acquiring, with rankings of more than 1,430 issuers and acquirers across over 120 countries. Analysis spans B2B payments, BNPL, digital currency, security and fraud statistics. The public news feed shows what the team is tracking: on 6 October 2026 it noted Xflow partnering with HSBC on India collections for global businesses, and on 1 October Britannica cited Nilson figures in an entry on credit card interchange fees.

Who benefits

Acquirers benchmarking market share, issuers sizing a region, investors checking a thesis and risk teams that need fraud-loss trends with a named source will find the numbers here. Subscribers are spread across more than 80 countries.