News
Mastercard boosts 9mo GDV by 25.4% Jan-Sept.
Bnamericas Published: Thursday, December 11, 2003
US credit card issuer Mastercard upped its gross dollar volume (GDV) billing by 25.4% in Latin America for the first nine months of the year, compared to the same period in 2002, the company said in a statement on December 3. Latin America experienced an increase in GDV of 22.7% for 3Q03 compared to 3Q02. GDV for online debit activity in the region for the third quarter was US$10.6bn, with purchase volume at US$1.3bn. The number of credit cards in circulation within the Latin America and Caribbean region stood at 59.5 million as of end-September, up 112% compared to the same time 2002. Total transactions in the region were 262 million for the third quarter. "We continue to displace cash and checks as consumers around the world recognize the convenience and security of using payment cards rather than carrying a pocketful of paper," MasterCard's president and chief executive officer Robert Selander said.
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