Magazine article American Banker

Visa Reports 33% Increase in U.S. Volume

Magazine article American Banker

Visa Reports 33% Increase in U.S. Volume

Article excerpt

Visa U.S.A. said its U.S. credit and debit card volume was up by 32.8% in the first quarter to $78.25 billion, the highest growth rate in 11 years.

The San Francisco-based association said that for each of the last seven quarters volume has increased more than 20% on a year- to-year basis.

Visa said the number of credit and debit cards rose 21.4% to 213.4 million cards, compared to 175.8 million in the first quarter of 1994.

Carl F. Pascarella, president and chief executive of Visa U.S.A., said, "preliminary numbers show the most significant market share shift against our competitors than we've had in a long time for a quarter."

MasterCard International said it will report U.S. volume numbers, included in international numbers, in a few weeks.

Sales volume for credit cards rose 31% to $72.2 billion, Visa said, citing the expansion of Visa Gold programs, which account for 41. …

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