Visa Total Volume Grew 19% in Latin America and the Caribbean
Visa LAC Continues to Report Sustained, Double-Digit Growth in Latin America and the Caribbean, Reporting US$581 Billion in Total Volume over the Previous Year
MIAMI--(AllPayNews)--Visa Inc. total volume on all Visa-branded products in Latin America and the Caribbean Region (LAC) grew 19 percent over the previous year to US$581 billion1 for the year ending on June 30, 2009. Likewise, the number of payment transactions for the same period surpassed the 5 billion mark, reflecting a constant trend in the migration from cash to electronic payments for day- to-day transactions.
“Visa LAC continued to record solid regional performance this period, driven by an impressive usage of our payment solutions at the point of sale,” said Eduardo Eraña, president of Visa Latin America and the Caribbean region. “Visa is leading a regional shift from cash to electronic payments through product innovation, reliability and efficiency.”
For the quarter ending on June 30, 2009, Visa LAC reported a 15 percent growth in total volume versus the same quarter last year, for a total of US$150 billion. Recent Visa announcements in the region include the introduction of Near Field Communications (NFC) payment technology in Brazil, and the launch of Financial Football in Brazil and Mexico, an innovative corporate social responsibility program that leverages the use of video games for educational purposes.
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.
1 All growth rates in constant USD.