Visa Latin America Reports 50% Growth In Debit, Prepaid Sales Volume

Additionally, credit purchases made with Visa branded cards also experienced a 39% POS volume growth, reaching a total of US $56 billion.

"As a result of Visa's excellent partnership with member banks together we've been able to bring consumers to the POS with a sound strategy of market segmentation that accurately identifies and meets the needs of consumers," said Eduardo Erana, president of Visa International, Latin America and Caribbean Region. "This impressive growth across all branded products clearly shows that Visa and its member banks are providing electronic payment products and solutions that meet those needs in an upturning economy."

Consumers and merchants prefer Visa because they recognize the value of the Visa payment system and because the brand delivers on its promise to be the most trusted, convenient and accepted form of payment. In fact, Visa credit and debit cards - including prepaid - had a milestone of more than 213 million cards in the region.

The growth that Visa LAC has experienced in terms of POS volume and card issuance is attributed to several major factors. The economic upturn in the Latin American region is a catalyst for a general increase in consumer and small business spending. For Visa LAC, this surge in consumer spending translated into a volume of US $83 billion at the POS and more than 2.6 billion transactions.

Finally, initiatives such as Visa's most recent comprehensive brand campaign "Grandeza," implemented in key markets, including Mexico, Brazil and Chile have contributed to the company's growth. Research shows that "Grandeza" increased Brand Equity above the norm and Top-of-Mind (TOM) brand awareness to 40% during the quarter ending in December 2005. Other initiatives include a greater focus on small business and an overall investment in new and evolving payment technologies.