Payments volume generated on Visa cards across
Asia Pacific reached $800bn this year – an increase of 12% on 2009,
indicating strong economic recovery in the region.
The total number of transactions in the Asia
Pacific region increased to 10.2bn, up 11.4% from 12 months ago.
Payments volume across Visa debit grew by 42.9% and credit also saw
an increase of 9.7% on 2009.
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Following Visa’s full year 2010 earnings, it
produced the regional breakdown that it claims highlights the
continued trend by consumers to use electronic forms of payments
rather than cash and cheques throughout Asia Pacific.
Visa figures also show the number of Visa
debit cards shot up by 15% this year, said to be an indicator of
increased financial inclusion in developing economies.
“These figures suggest strong economic
recovery across Asia Pacific,” said Elizabeth Buse, group executive
for Visa Inc.
“The region accounts for more than 50% of the
world’s population and as such it continues to provide significant
growth opportunities for Visa and our bank clients.
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By GlobalData“We are continuing to invest in new services
such as money transfer, mobile payments and prepaid cards, in
addition to our core credit and debit products [in Asia
Pacific].”
