Visa reports 188.6 percent growth in debit cards<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Visa International recorded 188.6 percent growth in debit card
\nsubscribers in Indonesia last year, with the number of
\nsubscribers rising to 6,756,000 from about 3.6 million in 2003.<\/p>\n
Visa also reported that last year's debit card volume at
\nmerchant points of sale rose 126 percent to over Rp 1.6 trillion
\n(US$167.19 million).<\/p>\n
"By the end of last year, Visa had issued more than 10.4
\nmillion debit and credit cards. The figure was 75 percent higher
\nthat the previous year," said Visa International Indonesia
\ncountry manager Ellyana Fuad on Friday.<\/p>\n
She attributed Visa's debit card growth to the increasing
\nnumber of merchants accepting the cards and greater public
\nawareness of the benefits of this method of payment.<\/p>\n
Visa has a 70 percent share in the payment processing industry
\nnationwide, in collaboration with major vendors Citibank, Bank
\nMandiri and the Hongkong and Shanghai Banking Corporation (HSBC).<\/p>\n
A recent survey by market research company ACNielsen said the
\nnumber of debit card customers in the country grew by up to 80
\npercent last year, slightly higher than 2003's 76 percent growth.<\/p>\n
Visa has three debit card products, namely Debit Visa, Visa
\nElectron and Visa Prepaid.<\/p>\n
"To expand our market this year, Visa plans to launch
\nMyMoneySkills.com, an Indonesian-version financial website to
\neducate both debit and credit card customers about financial
\nplanning," said Ellyana, adding that the company will also hold
\nworkshops and seminars at universities as part of this education
\nprogram.<\/p>\n
Starting on May 2, Visa International Asia Pacific will
\nbroadcast a new commercial starring by Hollywood actress
\nCatherine Zeta-Jones. (001)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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