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MasterCard Reports Strong Growth in Online Debit

Tuesday 29 June 2004 00:01 CET | News

MasterCard International has reported its online debit activity, which includes MasterCards online debit program Maestro and MasterCards ATM-only brand Cirrus, continued to show year-on-year growth for the three month period ending March 31, 2004. As of March 31, 2004, the Maestro brand mark appeared on more than 524 million cards worldwide, a 12.5% increase over the same date in 2003 and was accepted for purchases at over 10 million merchant terminals in 93 countries and territories. There were over 900,000 MasterCard, Maestro and Cirrus ATMs around the world at the end of the first quarter in 2004. The number of Maestro cards issued in Asia/Pacific was 143.9 million at March 31, 2004. Gross Dollar Volume (GDV) for online debit activity in the region for the first quarter of 2004 was $43.1 billion, with purchase volume at $6.2 billion. Purchase transactions for the first quarter of 2004 totaled 127 million. At the end of the first quarter of 2004, Europe continued to be the largest cardholder base for Maestro with 242.3 million cards, a 7% increase over the same period in 2003. GDV for online debit activity in the region for the first quarter of 2004 was $261.6 billion, with purchase volume at $83.6 billion. Purchase transactions for the first quarter of 2004 totaled 1.2 billion. In Latin America, Maestro card numbers grew by 100% to 68.3 million cards as of March 31, 2004, compared to the end of the first quarter in 2003. GDV for online debit activity in the region for the first quarter of 2004 was $9.5 billion, with purchase volume at $1.5 billion. Purchase transactions for the first quarter of 2004 totaled 75.1 million. The South Asia, Middle East and Africa region also experienced exceptional card growth with a 40.1% increase to 22.5 million cards at the end of the first quarter of 2004, compared to the end of the first quarter of 2003. GDV for online debit activity in the region for the first quarter of 2004 was $14.8 billion, with purchase volume at $1.1 billion. Purchase transactions for the first quarter of 2004 totaled 13.7 million. In the United States, an independent study concluded that Maestro U.S. acceptance stands at almost 1.5 million merchant locations, and is unsurpassed nationwide. In addition, the study found that Maestro point of sale signage in the U.S. now ranks ahead of other online debit brands in five major metropolitan markets including Chicago, Los Angeles, Miami, New York City, and San Francisco.

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Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce