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.
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