Visa Credit Card Usage Continues to Expand
Visa
Credit Card Usage Continues to Expand
According to a Reuters
report, Visa saw its charge volume increase 17.4% in the
first quarter over the prior year, with cardholders spending
$318.2 billion. Visa also had 497.2 million cards outstanding
in the United States, a 9.8 percent increase versus the same
time last year.
The
biggest increase percentage-wise in card usage was in the commercial
and small business category, which saw volume rise by over 27
percent to $39.5 billio. While consumer card usage only rose
about 10% from a year earlier, consumer cards accounted for
$136.6 billion in volume.
The
increased use of check and debit cards continued to be demonstrated,
as these cards’ volume rose 17.6 percent to $109.8 billion.
