According to the latest report released by Nielsen, the transaction share of UnionPay debit cards surpassed Visa for the first time in 2022. It is reported that UnionPay's share is 40.03 per cent, while Visa is 38.78 per cent. Meanwhile, from 2011 to 2021, Visa's market share of debit card transactions fell from nearly 80 per cent to 39.53 per cent, while China's UnionPay payment system grew from near zero to 38.68 per cent. In 2022, the Visa bank card transaction volume of the US payment system was 14.109 billion US dollars, while that of China UnionPay payment system was 16.227 billion US dollars.