MasterCard International Reports Strong Growth in 2003 As Gross Dollar Volume Reaches US$1.27 Trilli

Tuesday 2 March 2004 20:18 CET | News

MasterCard International has reported results for the fourth quarter and full-year 2003, demonstrating continued growth across almost all regions and in key measures of success in the payments industry.

Worldwide, cardholders used over 632.4 million MasterCard branded cards for almost 15 billion transactions in 2003, generating gross dollar volume (GDV) of $1.27 trillion, an increase of 5.9% on a local currency basis, and 10.4% on a U.S. dollar basis, over 2002. In 2003, MasterCard expanded MasterCard Advisors, the first consulting, outsourcing and information services group devoted entirely to the payments space. Advisors helps optimize payment programs with expert advice and tailored solutions. Performance highlights for 2003 include: -- Cardholders across the globe used MasterCard-branded cards (excluding Maestro and Cirrus) for almost 15 billion transactions, generating gross dollar volume (GDV) of $1.27 trillion, an increase of 5.9% over 2002. GDV includes both purchase and cash volume; -- At year-end, MasterCards almost 25,000 customer financial institutions around the world had issued more than 632.4 million MasterCard-branded cards, a 7.0% increase over 2002; -- Maestro, MasterCards online, PIN-based global debit brand, continued to grow in 2003, with the Maestro brand mark now appearing on more than 520 million cards worldwide, a 13.8% increase over year-end 2002. Maestro is accepted for purchases at more than 10 million merchant terminals in 93 countries and territories, and at over 900,000 MasterCard, Maestro, and Cirrus ATMs around the world; -- We are an industry leader with more than 150 million MasterCard-, Maestro-, and Mondex(R)-branded smart cards issued worldwide by year-end 2003, more than half of them carry value-added applications like loyalty, digital ID, e-ticketing, e-coupons or personal data storage. A fast growing percentage of these cards are EMV compliant, demonstrating the increasing momentum for EMV compliance. At the end of 2003, MasterCard was working with its customers on more than 400 individual chip implementations around the world, more than double the number of projects active at the end of 2002; -- In the United States, MasterCards share of mailed card solicitations, a leading indicator of card growth, averaged 57% through November 2003, according to Synovate Mail Monitor data. This is ahead of MasterCards 2002 average of 54%, and marks the fifth year in which MasterCards mail share has topped 50%. MasterCards strong growth in 2003 was fueled by growth in both credit and debit programs. GDV for worldwide credit and charge programs grew 5.1% to $1.0 trillion, and GDV for offline debit programs rose 9.3% to $236.9 billion during 2003. For the fourth quarter of 2003, global GDV rose 5.4% to $345.3 billion. Fourth quarter transactions increased by 8.8% in 2003 to 4.1 billion, compared to the same quarter in 2002. As of December 31, 2003, cardholders could use their MasterCard cards at more than 22 million locations around the world. Acceptance locations include merchant locations, ATMs and other locations where cash may be obtained. Significant Milestones Achieved MasterCard has also achieved a wide range of significant business milestones: -- In the U.S., we recently completed two trials of MasterCard PayPass, an innovative new contactless card payment program that provides consumers with a simpler way to pay, in Orlando, Florida and Dallas, Texas. With MasterCard PayPass, consumers simply tap or wave their payment card near a specially equipped merchant terminal that then transmits payment details wirelessly, eliminating the need to swipe the card through a reader. MasterCard will be making this service available to a wider audience later this year; -- In the U.S. and South Africa, we launched MasterCard rePower, for use with prepaid mobile phone accounts. rePower offers our customers new business opportunities in the rapidly expanding prepaid arena, by allowing cardholders to reload prepaid or stored-value a

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


Monitise gets USD 1.5 million grant for m-banking projects in East Africa

Published 18 Feb 2009 14:37 CET | World
UK-based mobile banking provider Monitise has been awarded USD 1.5 million by the Africa Enterprise Challenge Fund (AECF) to help fund the launch of its mobile banking and payments service in East Africa. ...