Double Digit Card Growth Worldwide in First Quarter
Dubai, UAE, July 5th, 2004 - MasterCard International today announced that its online debit activity, which includes MasterCard's online debit program Maestro and MasterCard's ATM-only brand Cirrus, continued to show year-on-year growth for the three month period ending March 31, 2004.
As of March 31, 2004, the Maestro brand mark appeared on more than 524 million cards worldwide, a 12.5% increase over the same date in 2003 and was accepted for purchases at over 10 million merchant terminals in 93 countries and territories. There were over 900,000 MasterCard, Maestro and Cirrus ATMs around the world at the end of the first quarter in 2004.
"The continued progress we've seen over the past quarter with the migration from Switch to Maestro in the UK and Redeshop to MasterCard Maestro in Brazil are clear signs of MasterCard's ability to share experience and best practices with our members," said Ann Camarillo, MasterCard's chief debit officer. "Our mission 'to be the world's leading provider of debit programs by providing local debit solutions,' provides the ideal catalyst for MasterCard's customers, uniting experience, skills and knowledge to help them maximize their debit success."
The number of Maestro cards issued in Asia/Pacific was 143.9 million at March 31, 2004. Gross Dollar Volume (GDV) for online debit activity in the region for the first quarter of 2004 was $43.1 billion, with purchase volume at $6.2 billion. Purchase transactions for the first quarter of 2004 totaled 127 million.
At the end of the first quarter of 2004, Europe continued to be the largest cardholder base for Maestro with 242.3 million cards, a 7% increase over the same period in 2003. GDV for online debit activity in the region for the first quarter of 2004 was $261.6 billion, with purchase volume at $83.6 billion. Purchase transactions for the first quarter of 2004 totaled 1.2 billion.
In Latin America, Maestro card numbers grew by 100% to 68.3 million cards as of March 31, 2004, compared to the end of the first quarter in 2003. GDV for online debit activity in the region for the first quarter of 2004 was $9.5 billion, with purchase volume at $1.5 billion. Purchase transactions for the first quarter of 2004 totaled 75.1 million.
The South Asia, Middle East and Africa region also experienced exceptional card growth with a 40.1% increase to 22.5 million cards at the end of the first quarter of 2004, compared to the end of the first quarter of 2003. GDV for online debit activity in the region for the first quarter of 2004 was $14.8 billion, with purchase volume at $1.1 billion. Purchase transactions for the first quarter of 2004 totaled 13.7 million.
In the United States, an independent study concluded that Maestro U.S. acceptance stands at almost 1.5 million merchant locations, and is unsurpassed nationwide. In addition, the study found that Maestro point of sale signage in the U.S. now ranks ahead of other online debit brands in five major metropolitan markets including Chicago, Los Angeles, Miami, New York City, and San Francisco.
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Note to Editors
The data in this press release is provided by the member financial institutions of MasterCard International Incorporated and its affiliates ("MasterCard") and is subject to revision and amendment by such members subsequent to the date of its release. A portion of the information contained in this press release is estimated. In addition, a portion of the data relating to accounts and cards reflects the impact of routine portfolio changes among members and other practices that may lead to over counting of the underlying data in certain circumstances.
Information denominated in U.S. dollars is calculated by applying an established U.S. dollar/local currency exchange rate for each local currency in which Maestro and/or Cirrus volumes are reported.
Period-over-period rates of change in volume-based information are provided on a local-currency basis. Accordingly, the period‑over‑period rates of change in this press release cannot be extrapolated directly by reference to the U.S. dollar volume information presented for the current and historical periods.
All Maestro- and Cirrus-branded data is derived from information provided by MasterCard members that is subject to certain limited logical and statistical verification by MasterCard. Certain information with respect to ATM locations is provided by third parties and has not been independently verified by MasterCard.
The data in this press release includes information with respect to Maestro- and Cirrus-branded transactions that are not processed by MasterCard and transactions for which MasterCard does not earn revenues. The substantial majority of Maestro- and Cirrus-branded transactions reported in this press release are not processed by MasterCard. Accordingly, the data in this press release cannot be taken as an indication of the financial performance of MasterCard International.
The data in this press release principally reflects the performance of members and the bankcard industry as a whole in connection with card programs carrying these brands. In certain regions and countries, a substantial portion of such information is estimated and has not been verified by MasterCard.
About MasterCard International
MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members' credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard International manages a family of well-known, widely accepted payment card brands including MasterCard, Maestro and Cirrus and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless advertising campaign is now seen in 96 countries and in 47 languages, giving the MasterCard brand a truly global reach and scope. For more information go to www.mastercardinternational.com.
Contacts:
Jenny Hamdan,
MasterCard International,
9714 391 4256
Email: jenny_hamdan@mastercard.com
Andrea Jaishankar,
Promoseven Weber Shandwick,
9714 3210077
Email: andreaj@promoseven.com
© Press Release 2004
