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Visa Business Credit Card Spending at Over $100 Million for First Time

by Peter Andrew

Visa

Business Credit Card Spending at Over $100 Billion for First

Time

Visa announced today that spending on its business credit cards

broke $100 billion dollars over the past 12 months. It's the

first time that credit cards targeted to small business have

hit such levels. Small businesses made $103.5 billion in purchases

with their Visa business credit cards in the year ending June

30, 2006, a growth rate of 32.2 percent.

For

the second quarter of calendar year 2006, small business spending

on Visa business credit cards totaled $28.9 billion, a 29.9

percent increase over the same period in the prior year.

According

to Visa's numbers, small business spending grew 5.4 percent

in 2005 to $4.7 trillion. Of that amount, only $300 billion

is currently on credit cards.

Published 08/07/06 (Modified 05/07/12)


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