MasterCard's Middle East gross dollar volume increased 17.5% in 2003
MasterCard International's gross dollar volume grew 17.5 percent in the South Asia, Middle East/Africa region during 2003 and 18.7 percent in the fourth quarter of the year compared to figures from 2002.
A strong purchase volume growth of 17.6 percent and a strong cash volume growth rate of 21.4 percent fueled the region’s growth in the fourth quarter of 2003 compared to fourth quarter 2002, reported a press release.
The region also experience exceptional growth in the number of Maestro cards issued with a 31.8 percent increase to 20.4 million cards in the fourth quarter of 2003, compared to the same period in 2002. GDV for online debit activity in the region for the fourth quarter of 2003 was $14.3 billion, with purchase volume at one billion dollars. Transactions for fourth quarter 2003 totaled 166.1 million.
Worldwide, MasterCard cardholders used over 632.4 million branded cards for almost 15 billion transactions in 2003, generating GDV of $1.27 trillion, an increase of 5.9 percent on a local currency basis, and 10.4 percent on a US dollar basis, over 2002.
MasterCard International provides services in support of credit, deposit access, electronic cash, business-to-business and related payment programs. The company 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)
© 2004 Mena Report (www.menareport.com)