Citing continued growth in international volume and processed transactions globally, Visa Inc. on Feb. 2 reported fiscal first quarter increases in Visa card spending both domestically and internationally.
U.S. debit card sales volume, which includes Visa signature-debit check card and Interlink PIN-debit purchases, increased by 16.4% during the quarter ended Dec. 31, to $277 billion from $238 billion during the same period a year earlier. Total U.S. debit transactions increased 17.2%, to 7.5 billion from 6.4 billion.
Debit sales volume outside of the U.S. was $71 billion, up 34% from $53 billion, while debit transaction volume increased 25%, to 1.5 billion from 1.2 billion.
U.S. credit card sales volume was up 7.5%, to $216 billion from $201 billion (see chart). U.S. credit card transaction volume increased 4.2%, to 2.5 billion from 2.4 billion.
Credit card sales outside of the U.S. rose 20.1%, to $334 billion from $278 billion, while transaction volume increased 13.9%, to 4.1 billion from 3.6 billion.
Regionally, in the Asia-Pacific, combined debit and credit purchase volume increased 21.3%, to $239 billion from $197 billion, while transaction volume rose 12%, to 2.8 billion from 2.5 billion. In the Latin American/Caribbean region, payment card sales volume increased 28.1%, to $82 billion from $64 billion, while transaction volume grew 26.7%, to 1.9 billion from 1.5 billion.
In Canada, total payment volume rose 10.4%, to $53 billion from $48 billion, with transaction volume increasing 9.3%, to 470 million from 430 million. In the Central Europe, Middle East and Africa region, sales volume rose 30.4%, to $30 billion from $23 billion, while transaction volume increased 34.6%, to 475 million from 353 million.
Network volume globally (payments volume plus cash volume) during the quarter totaled $1.4 trillion, up 16.7% from $1.2 trillion.
Visa said it processed 12.6 billion transactions during the quarter, up 15.6% from 10.9 billion.
As a company, Visa reported net income of $884 million, up 15.9% from $763 million. Net operating revenue totaled $2.24 billion, up 14.3% from $1.96 billion last year.
Total operating expenses increased 17.4%, to $872 million from $743 million.
