Visa Reports Strong Growth in 2003; All Major Sectors See Double Digit Increases in Card Sales Volume.Business Editors FOSTER CITY, Calif.--(BUSINESS WIRE)--April 5, 2004 Visa International reported strong growth globally for 2003 as card sales volume reached US$2.9 trillion for the twelve months ending 31 December 2003, a 10% increase over the same period a year earlier. Sales volume for the quarter ending 31 December 2003 was US$810 billion. "We are pleased to announce that in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of a very challenging economic environment, consumers increasingly chose the convenience and security of Visa products over cash and checks," said William Boardman This article is about an American pastor and teacher. For the U.S. Representative from Connecticut, see William Whiting Boardman. William E. Boardman (d.1886), an American pastor and teacher, was the author in 1858 of A Higher Christian Life , Chairman of the Board and interim Chief Executive Officer for Visa International. "With continued improvement in the global economy, innovative new products and services from our member banks, and the spotlight on the 2004 Athens Olympic Games Olympic games, premier athletic meeting of ancient Greece, and, in modern times, series of international sports contests. The Olympics of Ancient Greece Although records cannot verify games earlier than 776 B.C. , we project continued strong growth for 2004." 2003 Business Highlights: -- Visa debit   The old Visa and Delta logos. products continue to grow strongly with a 16.3% growth rate and total sales volume of $1.4 trillion. Visa Electron, popular in the Visa EU, CEMEA CEMEA Centres d'Entrainement aux Méthodes d'Education Active (France) CEMEA Central Europe, Middle East and Africa CEMEA Central Europe Middle East and Africa and AP regions, experienced 22% growth to US$432 billion in card sales volume. The Visa debit product suite now includes 12 products allowing Visa Member banks a broad range of choice in "pay now" product offerings. -- Visa Premium products showed a 10.8% growth rate with card sales volume of US$898.5 billion. -- Commercial products posted volume of US$177.5 billion, an increase of 19% over the same period in 2002. Growth in the commercial category was led by Visa Debit Business cards, which experienced 27% growth to reach US$31 billion in volume. The Visa commercial product suite now includes nine products addressing the diverse needs of business and governments worldwide. -- More than 38 billion transactions were conducted on Visa products during 2003, an increase of 12.3% over 2002. -- During the peak holiday shopping season of 2003, VisaNet processed more than 5,000 transactions per second In a very generic sense, the term Transactions Per Second refers to the number of atomic actions performed by certain entity per second. In a more restrictied view, the term is usually used by DBMS vendor and user community to refer to the number of database transactions performed , a 13% increase over 2002. -- The Visa PLUS ATM network grew to more than 877,000 ATMS, making Visa products the most convenient way to access local currency when traveling internationally. -- Visa continued to expand acceptance in new market channels including quick service restaurants and recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. payments. Significant progress was also made in incorporating the Visa payment function into new devices through contactless chip and RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. applications. 2003 Results by Visa Region: -- Visa Asia Pacific achieved card sales volume of US$438 billion. Excluding South Korea, Visa AP's card sales volume grew 12%. Visa AP card sales volume in South Korea was adversely impacted by a number of factors in that market. Inclusive of inclusive of prep. Taking into consideration or account; including. South Korea, Visa AP experienced cards sales volume growth of -2%. -- Visa Canada achieved card sales volume of US$89 billion, a 9% increase over 2002. -- Visa Central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. , Middle East and Africa (CEMEA) achieved card sales volume of US$139 billion, a 34% increase over 2002. -- Visa EU achieved card sales volume of US$943 billion, an 11% increase over 2002. -- Visa Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Caribbean (LAC) achieved card sales volume of $181 billion, a 16% increase over 2002. -- Visa USA achieved card sales volume of US$1.1 trillion, an increase of 12% over 2002. Note to Editors: More details on Visa global and regional performance can be found at the Visa International corporate media center at www.corporate.visa.com/mc/stats. About Visa Visa is the world's leading payment brand generating nearly US$3 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce -- the ability to conduct commerce anywhere, anytime, and any way. For more information, visit www.corporate.visa.com. |
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