Mastercard records 17 percent regional growth in first nine months of 2003
MasterCard International's gross dollar volume (GDV) grew 17.1 percent in the South Asia, Middle East/Africa region during the first nine months of 2003 and 17.4 percent in the third quarter of the year compared to figures from 2002.
A strong purchase volume growth of 16.7 percent in the region and a strong cash volume growth rate of 19.3 percent fueled the region’s growth in the third quarter of 2003. GDV for online debit activity in the region for the third quarter of 2003 was $13.2 billion, with purchase volume at one billion dollars. Transactions for third quarter 2003 totaled $151 million, stated a press release.
The region also experienced card growth with a 44.8 percent increase to 19.2 million cards in the third quarter of 2003, compared to the same period in 2002.
The payment brand reported that its MasterCard, Maestro and Cirrus payment programs generated a GDV of $916.9 billion worldwide in the first nine months of 2003, an increase of 5.8 percent over the same period in 2002. Third quarter 2003 purchase and cash transactions reached $3.8 billion, generating a GDV of $320.5 billion, a 4.5 percent gain over third quarter 2002.
MasterCard International provides a broad variety of services in support of credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard International manages a family of payment cards brands including MasterCard, Maestro and Cirrus and serves financial institutions, consumers and businesses in over 210 countries and territories. — (menareport.com)
© 2003 Mena Report (www.menareport.com)