[IMGCAP(1)]

Overall sales volume for credit and debit cards supported by Visa Inc. declined slightly in regions outside the United States during the quarter ended June 30, Visa announced on Tuesday. Visa reports its operational-performance data one quarter later than its financial results. The card brand's fiscal year ends Sept. 30. Fiscal third-quarter sales volume for Visa cards in non-U.S. regions totaled $275 million, down 0.4% from $276 million during the same period a year ago. Transaction volume in regions outside the U.S. rose 12.8% to 4.32 billion from 3.83 billion a year earlier. Regionally, Asia-Pacific credit and debit sales volume totaled $165 billion, up 1.9% from $162 billion, while transaction volume rose 15%, to 2.3 billion from 2 billion. Some 512 million cards were on issue in the Asia-Pacific region at the end of June, up 8.5% from 472 million a year earlier. Credit and debit sales volume in the Latin America and Caribbean region totaled $49 billion, down 2% from $50 billion. Transaction volume totaled 1.3 billion, up 8.3% from 1.2 billion. Some 344 million cards were on issue in the Latin American and Caribbean region at the end of June, up 4.9% from 328 million. Credit and debit sales volume in the Central Europe, Middle East and Africa region was $20 billion, up 5.3% from $19 billion. Transaction volume totaled 324 million, up 27.1% from 255 million. Some 184 million cards were on issue in the region at the end of June, up 9.5% from 168 million. Credit card sales volume in Canada was $41 billion, down 8.9% from $45 billion. Transaction volume totaled 396 million, up 3.4% from 383 million. Cards on issue in Canada at the end of June remained flat at 31 million. Visa does not yet support debit card offerings in Canada, though it plans to do so soon. Asked about Visa's efforts to launch debit card acceptance in Canada, Byron Pollitt, Visa chief financial officer, told analysts during a conference call on Tuesday that the company is "making progress" on those plans. "...We expect to gain traction and begin issuing cards. I'd say that the buildup of the merchant acceptance will take some time, but I believe that the die is cast and that the effort is under way, and I think over the moderate term it will be quite successful. The first cards that come out in Canada, the first debit cards, with Visa logos, which will come out in the first quarter of 2010, will be dual branded cards. And so it will carry the traditional Canadian debit logo along with the Visa logo. I think it will be a great product. I think it will be a big win, and we're excited about it." He did not elaborate further on details of the proposed program.


Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry