Visa Sees Big Rise in Cards

Visa card issuance in Latin America jumped 37% year-on-year in the 12 months to March 31, the firm said Tuesday. International Latin American and Caribbean region point-of-sale volume meanwhile increased 26% to $116.3bn in the same period. Visa claims 91.3m issued in the region. Purchases made with Visa credit cards grew 26% to $77.8bn, while volume with debit and prepaid products registered a year-on-year increase of 25% to $38.5bn. “We have seen more than 80% growth in the issuance of Visa credit cards since 2005, particularly in entry level segments, as a result of greater credit access and specialized products extended by issuers,” says Eduardo Eraña, president and CEO of Visa International for LatAm and Caribbean. Growth has been focused on entry-level customers, with monthly income of $100-$500.