Visa member banks drive retail card spending up by 39 per cent

Tuesday 28 December 2004 19:20 CET | News

Strong performance by Visa Internationals member banks across markets in the Middle East has generated a 39 per cent increase in Retail Sales Volume (RSV) on Visa cards for the 12 month period ending September 30, 2004 compared to the corresponding period the previous year.

RSV stood at over $9.3 billion with Qatar and Oman performing particularly well: spending in Qatar was up 79 per cent for the year while in Oman it rose 45 per cent. Other regional markets such as the UAE and Saudi Arabia also reported healthy growth with RSV rising in both countries by 39 per cent on the back of double digit growth in the total number of debit and credit cards issued in this period.

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

Payments & Commerce