Saudi Visa expenditures up 26 percent
Saudi Arabia recorded 22 percent growth in Visa card expenditures to $16 billion per annum over the year ending June 2002, while the number of transactions increased by 26 percent to 65 million – this represents over a third of all transactions in the Middle East and equates to 7,533 transactions every hour.
Visa-branded cards generate more than $2.3 trillion in annual volume and are accepted at more than 29 million physical locations around the world, including more than 800,000 automated teller machines (ATM). The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. — (menareport.com)
© 2002 Mena Report (www.menareport.com)