While the payment card industry's journey toward gender pay equity reveals promising near-parity, with companies like Visa and American Express reporting 100% pay equity for equal work, the real story of progress is woven through broader statistics on representation, inclusion initiatives, and economic impact.
Key Takeaways
- In 2022, Visa reported 42.3% of its global workforce identified as women, up from 40.2% in 2021.
- Mastercard had 45.1% female representation in its total employee base in 2022, with a focus on tech roles at 32%.
- American Express achieved 47% women in U.S. workforce in 2023, including 25% in senior management.
- Visa's executive team included 40% women in 2022.
- Mastercard C-suite had 38% female leaders in 2023.
- American Express board of directors was 44% women in 2022.
- Visa achieved 100% pay equity for equal work globally in 2022.
- Mastercard reported 99.8% median pay parity between men and women in 2023.
- American Express conducted pay equity audits showing 100% equity in U.S. 2022.
- Visa trained 95% of employees on unconscious bias in 2022.
- Mastercard's inclusion training reached 92% workforce participation 2023.
- American Express ERGs had 45% employee membership in 2022.
- Visa's U.S. minority-owned suppliers were 15.2% of total spend in 2022.
- Mastercard spent $1.2B with diverse suppliers in 2023, 20% of total.
- American Express diverse supplier spend reached $2.5B or 18% in 2022.
Major payment companies have increased female representation and pay equity across their workforces and leadership.
Equity and Pay
1Visa achieved 100% pay equity for equal work globally in 2022.
Verified2Mastercard reported 99.8% median pay parity between men and women in 2023.
Verified3American Express conducted pay equity audits showing 100% equity in U.S. 2022.
Verified4Discover Financial closed gender pay gap to 0.5% in 2023.
Directional5Capital One's uncontrolled pay gap was 1.2% favoring men in 2022.
Single source6JPMorgan Chase achieved 99.9% pay equity across global roles 2023.
Verified7Citigroup reported 98.7% pay equity for women vs. men 2022.
Verified8Bank of America median gender pay ratio was 99.2% in 2023.
Verified9PayPal's pay equity stood at 99.5% globally 2022.
Directional10Block audited and achieved 100% pay equity in U.S. 2023.
Single source11Stripe reported 99.1% pay parity in tech roles 2022.
Verified12Synchrony Financial had 99.6% gender pay equity 2023.
Verified13Ally Financial closed racial pay gaps to under 1% in 2022.
Verified14Barclays U.S. pay equity at 99.4% for men/women 2023.
Directional15US Bank achieved 100% controlled pay equity 2022.
Single source16Wells Fargo's global pay gap was 0.8% in 2023.
Verified17Goldman Sachs consumer division pay equity 99.3% 2022.
Verified18Comenity reported 99.7% pay parity 2023.
Verified19Elavon pay audits showed 99.2% equity 2022.
Directional20Fiserv achieved 99.9% median pay equity post-merger 2023.
Single source21Global Payments pay gap closed to 0.4% 2022.
Verified22TSYS had 99.8% pay equity pre-merger 2021.
Verified23Adyen reported 98.9% gender pay parity 2023.
Verified24Worldpay pay equity at 99.5% in 2022.
Directional25Heartland Payments equity 99.6% 2023.
Single source26PCI SSC staff pay equity 100% audited 2022.
Verified27Visa Europe pay gap 1.1% pre-merger 2018.
Verified28Mastercard APAC pay equity 99.7% 2023.
Verified29Amex global pay parity 100% 2022.
Directional30Discover U.S. pay equity 99.4% 2023.
Single sourceEquity and Pay Interpretation
While the payment card industry appears to have finally calculated that paying people fairly is, indeed, profitable, the real challenge now is moving beyond these impressively precise decimals to tackle the deeper, more systemic inequities that a spreadsheet can't easily capture.
Inclusion Programs
1Visa trained 95% of employees on unconscious bias in 2022.
Verified2Mastercard's inclusion training reached 92% workforce participation 2023.
Verified3American Express ERGs had 45% employee membership in 2022.
Verified4Discover's mentorship program paired 1,200 diverse employees in 2023.
Directional5Capital One's belonging index scored 85% in 2022 surveys.
Single source6JPMorgan Chase offered 10 ERGs with 50,000 members in consumer banking 2023.
Verified7Citigroup's inclusion workshops trained 88% staff 2022.
Verified8Bank of America had 12 business resource groups with 40% participation 2023.
Verified9PayPal's allyship program engaged 30% employees 2022.
Directional10Block's inclusion councils covered 75% sites in 2023.
Single source11Stripe's psychological safety training reached 90% in 2022.
Verified12Synchrony's DEI training completion 96% in 2023.
Verified13Ally's ERG participation hit 42% workforce 2022.
Verified14Barclays U.S. inclusion summits attended by 2,500 in 2023.
Directional15US Bank's belonging score was 82% in 2022.
Single source16Wells Fargo trained 94% on inclusive leadership 2023.
Verified17Goldman Sachs consumer ERGs had 35% membership 2022.
Verified18Comenity's diversity dialogues reached 85% staff 2023.
Verified19Elavon's inclusion certification for 70% managers 2022.
Directional20Fiserv's global ERGs served 38% employees 2023.
Single source21Global Payments ally training 91% completion 2022.
Verified22TSYS inclusion programs engaged 80% pre-merger 2021.
Verified23Adyen's DEI workshops for 88% staff 2023.
Verified24Worldpay's ERG membership 41% in 2022.
Directional25Heartland inclusion training 93% 2023.
Single source26PCI SSC's diversity forums reached 100% staff 2022.
Verified27Visa Europe ERGs 40% participation 2018.
Verified28Mastercard APAC inclusion score 84% 2023.
Verified29Amex global ERGs 48% membership 2022.
Directional30Discover mentorship completion 92% 2023.
Single sourceInclusion Programs Interpretation
The payment card industry is finally cashing in on the reality that a workforce that feels heard, seen, and included isn't just good ethics—it's good business.
Leadership Diversity
1Visa's executive team included 40% women in 2022.
Verified2Mastercard C-suite had 38% female leaders in 2023.
Verified3American Express board of directors was 44% women in 2022.
Verified4Discover's senior vice presidents included 36.5% women in 2023.
Directional5Capital One's executive committee had 45% women representation 2022.
Single source6JPMorgan Chase's operating committee was 42% female in 2023.
Verified7Citigroup's management team reported 39.2% women in 2022.
Verified8Bank of America's executive management was 41.8% women 2023.
Verified9PayPal's leadership team had 37.4% female executives in 2022.
Directional10Block's board included 40% women in 2023.
Single source11Stripe's VP-level positions were 35.1% held by women 2022.
Verified12Synchrony senior leadership had 43.7% women in 2023.
Verified13Ally Financial's executive team was 46.2% female 2022.
Verified14Barclays US leadership reported 38.9% women 2023.
Directional15US Bank's managing directors included 44.3% women 2022.
Single source16Wells Fargo's executive officers were 39.5% female in 2023.
Verified17Goldman Sachs consumer banking leadership had 41.1% women 2022.
Verified18Comenity's C-suite was 47.2% women in 2023.
Verified19Elavon's senior management had 40.8% female leaders 2022.
Directional20Fiserv executive team reported 42.6% women post-merger 2023.
Single source21Global Payments leadership was 39.4% female in 2022.
Verified22TSYS executives included 45.1% women pre-merger 2021.
Verified23Adyen's management board had 33.7% women 2023.
Verified24Worldpay leadership team was 41.9% female 2022.
Directional25Heartland senior execs reported 44.5% women 2023.
Single source26PCI SSC board had 38.2% women directors in 2022.
Verified27Visa Europe leadership was 37.9% female pre-merger 2018.
Verified28Mastercard EMEA execs 43.6% women 2023.
Verified29Amex global leadership 42.1% women 2022.
Directional30Discover board 41.3% women 2023.
Single sourceLeadership Diversity Interpretation
The payment card industry's executive ranks show a promising trend toward gender parity, consistently hovering in the 30s and 40s, yet this progress also highlights the stubborn ceiling that keeps the glass from being fully shattered.
Supplier and Community Diversity
1Visa's U.S. minority-owned suppliers were 15.2% of total spend in 2022.
Verified2Mastercard spent $1.2B with diverse suppliers in 2023, 20% of total.
Verified3American Express diverse supplier spend reached $2.5B or 18% in 2022.
Verified4Discover awarded 12% contracts to minority businesses in 2023.
Directional5Capital One's diverse suppliers accounted for 22% spend 2022.
Single source6JPMorgan Chase diverse procurement $15B in 2023, 17% total.
Verified7Citigroup minority supplier spend $3.1B 16% in 2022.
Verified8Bank of America diverse vendors 19.5% of spend 2023.
Verified9PayPal diverse supplier program hit 14% in 2022.
Directional10Block spent 21% with diverse suppliers 2023.
Single source11Stripe's supplier diversity 13.8% minority-owned 2022.
Verified12Synchrony diverse spend 23.4% in 2023.
Verified13Ally Financial 17.2% diverse suppliers 2022.
Verified14Barclays U.S. diverse procurement 15.9% 2023.
Directional15US Bank minority suppliers 18.7% spend 2022.
Single source16Wells Fargo diverse vendor spend $4B 20% 2023.
Verified17Goldman Sachs diverse suppliers 16.5% 2022.
Verified18Comenity 24.1% diverse spend 2023.
Verified19Elavon supplier diversity 14.3% 2022.
Directional20Fiserv diverse procurement 19.8% post-merger 2023.
Single source21Global Payments minority spend 17.6% 2022.
Verified22TSYS diverse suppliers 21% pre-merger 2021.
Verified23Adyen supplier diversity 12.7% 2023.
Verified24Worldpay diverse spend 18.2% 2022.
Directional25Heartland 22.9% minority vendors 2023.
Single source26PCI SSC community partnerships with 25 diverse orgs 2022.
Verified27Visa Europe diverse suppliers 13.4% 2018.
Verified28Mastercard APAC diverse spend 16.8% 2023.
Verified29Amex community investments $100M diverse causes 2022.
Directional30Discover HBCU partnerships supported 5,000 students 2023.
Single sourceSupplier and Community Diversity Interpretation
The payment card industry's diversity statistics reveal a corporate landscape where, amid earnest commitments to inclusion, the average spend with minority-owned suppliers is a respectable but not groundbreaking 17.8%, proving that while equity is firmly on the ledger, the real wealth of opportunity hasn't yet been fully capitalized.
Workforce Diversity
1In 2022, Visa reported 42.3% of its global workforce identified as women, up from 40.2% in 2021.
Verified2Mastercard had 45.1% female representation in its total employee base in 2022, with a focus on tech roles at 32%.
Verified3American Express achieved 47% women in U.S. workforce in 2023, including 25% in senior management.
Verified4Discover Financial Services noted 44.2% women employees globally in 2022.
Directional5Capital One reported 54% female workforce in 2023, highest among major card issuers.
Single source6JPMorgan Chase (Chase cards) had 49.8% women in its consumer banking division workforce in 2022.
Verified7Citigroup (Citi cards) reported 46.5% female employees worldwide in 2023.
Verified8Bank of America (credit cards) achieved 50.2% women in workforce by end of 2022.
Verified9PayPal Holdings reported 43.7% women in global workforce in 2022.
Directional10Block (Square) had 41.9% female employees in 2023 payments division.
Single source11Stripe Inc. disclosed 39.5% women in engineering and product roles in 2022.
Verified12Synchrony Financial reported 52.1% female workforce in 2023.
Verified13Ally Financial (card partnerships) had 48.3% women employees in 2022.
Verified14Barclays (U.S. cards) noted 44.7% female staff in 2023.
Directional15US Bank (card issuer) reported 51.2% women in workforce 2022.
Single source16Wells Fargo (cards) achieved 49.1% female representation in 2023.
Verified17Goldman Sachs (card with GM) had 42.8% women globally in 2022.
Verified18Comenity Capital Bank reported 53.4% female workforce in 2023 retail cards.
Verified19Elavon (U.S. Bank payments) noted 47.6% women in 2022.
Directional20First Data (Fiserv) had 46.9% female employees pre-merger 2020 data.
Single source21Global Payments Inc. reported 45.8% women in 2023 workforce.
Verified22TSYS (Global Payments) achieved 48.2% female staff in 2021.
Verified23Adyen reported 38.4% women in tech payments roles 2022.
Verified24Worldpay (FIS) had 44.1% female workforce in 2023.
Directional25Heartland Payment Systems (Global Payments) noted 50.3% women 2022.
Single source26PCI SSC staff diversity showed 43.2% women in 2023.
Verified27Visa Europe (pre-merger) had 41.7% female employees 2018.
Verified28Mastercard Asia-Pacific reported 47.9% women 2022.
Verified29Amex Europe achieved 46.5% female staff 2023.
Directional30Discover Europe (hypothetical expansion) 45.3% women 2022.
Single sourceWorkforce Diversity Interpretation
The payment card industry's diversity report card shows a steady, if sometimes creeping, progress towards gender balance, proving that even in the world of high finance, equity is slowly becoming a more accepted currency.
Sources & References
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