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MasterCard Usage Rose Over 11 Percent in 2005

by Peter Andrew
MasterCard Usage Rose Over 11 Percent in 2005

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MasterCard International reported an 11.9% increase in dollar volume on its branded credit cards and debit cards for the year 2005 in its year-end operating results released yesterday. In 2005, cardholders worldwide used 749.3 million MasterCard-branded cards for more than 19.1 billion transactions. While credit cards make up the bulk of those figures, the results showed that use of debit cards is increasing significantly. Gross dollar volume for worldwide credit and charge cards grew 9.2 percent to more than $1.3 trillion, but gross dollar volume for debit programs rose 23.6 percent to $347.3 billion. Worldwide, financial institutions issued 749.3 million MasterCard-branded cards in 2005, a 10.5 percent increase over 2004.

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