Card Briefs: Dollar Volume Up 72% For Visa's Check Card

Visa U.S.A. reported a 27% increase in Visa check cards last year, to 58 million.

The number of transactions on the off-line debit cards grew 60%, to two billion, and the dollar volume rose 72%, to $93.7 billion.

Visa executives are projecting 5.5 billion consumer transactions annually by 2001, amounting to 10% of personal consumer expenditures in the United States.

"The check card is the most popular new payment product in the history of our association," said Carl Pascarella, president and chief executive officer, Visa U.S.A. "Consumer demand for more convenience, access, and security in managing their money will continue to be the driving force behind the development of efficient, time-saving payment tools like the Visa check card."

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER