MasterCard records 17 percent growth in the Middle East for 1H 2003
MasterCard International recorded a 16.8 percent gross dollar volume (GDV) growth in the South Asia, Middle East/Africa region during the first six months of 2003. The region’s GDV growth was up 17.5 percent for second quarter of 2003 compared to the same period last year.
Strong purchase volume growth of 17.9 percent and strong cash volume growth rates of 14.4 percent fueled the region's growth in the first half of 2003 compared to 2002, stated a press release.
“Despite a slowdown in travel and spending in the wake of the SARS epidemic in Asia and the war in Iraq, and ongoing economic lethargy around the world, MasterCard continued to demonstrate healthy year-on-year growth in the first half of 2003,” said MasterCard's president and CEO, Robert W. Selander. The payment brand generated GDV of $595.5 billion in the first half of 2003, an increase of 6.3 percent over the same period in 2002. — (menareport.com)
© 2003 Mena Report (www.menareport.com)