Card Briefs: Visa Sets $1.1 Trillion Record in POS Volume

Visa International has reported an all-time high in point of sale volume.

In the 12 months ended Sept. 30 almost 70% of Visa's record $1.1 trillion volume was generated at retail and travel-and-entertainment outlets around the world. The volume of these types of transactions has grown 38% in two years.

Total Visa volume-both purchases and cash transactions-was 22% higher than a year earlier.

"Visa measures its success by how well it does compared to cash and checks," said Ray Barnes, group executive vice president and chief administrative officer. "One measure of this success is our penetration of PCE," or personal consumption expenditures. Visa's share has grown by nearly a third in two years, to 4.2%.

Mr. Barnes said the goal is 8% in five years. Each percentage point represents close to $200 billion, the company said.

In the year ended Sept. 30, Visa cards in circulation increased 14%, to 618 million.

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