Visa holders hit 1.85m

Visa holders hit 1.85m

JAKARTA (JP): Visa International announced on Wednesday that
the number of its credit card holders in Indonesia rose to 1.85
million as of end of March, a 42 percent increase from a year
ago.

Visa's country manager for Indonesia Ellyana C. Fuad said the
company's credit card sales volume also increased 49.7 percent to
Rp 2.35 trillion (about US$238.6 million) during the first three
months of the year, while transactions jumped by 40 percent to
6.1 million over the same period.

"Consumers are very quickly becoming aware of the need for
security in payment transactions, which traditional methods such
as cash do not provide. These account for the phenomenal growth
in both credit and debit cards in Indonesia," she said in a
statement.

The company also recorded two million holders for its Visa
Electron debit card as of the end of March, a 147 percent
increase from a year ago, Ellyana said.(tnt)