Visa USA has announced that sales volume on Visa-branded cards grew to a record $1.045 trillion in calendar year 2004, a 19.1 percent increase over 2003. Consumer credit card sales volume grew more than 11 percent to $517 billion while Visa's debit card sales volume grew 19.7 percent to $346 billion.

"By any measure, 2004 was a record year for Visa USA and our Members," said Carl Pascarella, president and CEO of Visa USA. "Visa's performance last year is proof that we continue to deliver what consumers and businesses value most - payments that are convenient, secure and accepted at an unsurpassed number of locations worldwide. That's why Visa continues to be the payments brand that cardholders turn to most often."

Visa USA has announced the results of a new study that has identified a consumer category of "new affluents" who trade prestige and luxury for value, pragmatism and the adventure of doing more with what they have.

"The power and potential of this consumer group is enormous," said Elizabeth Buse, executive vice president, product development and management, Visa USA.

"The more clearly we understand their beliefs and needs as distinct and different from earlier models of wealth, the more effective we can be in helping our Members and merchants unlock this potential."

MoPay, the South African mobile payments company, has announced a new SMS-based service.

The Federal Reserve has reported that consumer revolving credit grew at an annualized rate of 1.8 per cent during December, up slightly from the prior month. The amount of revolving credit outstanding was $790.5 billion.