Visa members still meet all deal requirements

Visa members still meet all deal requirements

JAKARTA (JP): Visa International's member banks in Indonesia
have proved able to support transactions from both cardholders
and merchants despite the economic crisis.

Visa International country manager for Indonesia, Ellyana
Fuad, said Saturday that her company had agreements and checks in
place to ensure all transactions around the world are honored.

"Our member banks in Indonesia continue to meet all of Visa's
requirements and we continue to maintain a close relationship
with them," she said.

Visa, which began operations in Indonesia 15 years ago,
estimated that the value of its credit card transactions in the
country reached US$1.54 billion in 1996, up 26 percent from the
previous year. Transactions totaled $421 million in the first
quarter of last year.

Indonesia has over 1.7 million credit cards in use, 1.2
million of which are issued by Visa.

Worldwide the company claims to be the preferred brand of
credit card. It has issued 618 million cards which generate over
$1 trillion in annual transaction volume. Cards are accepted at
more than 14 million worldwide locations, including 380,000
Automatic Teller Machine (ATMs) in the Visa Global ATM network.

The company plays a vital role in advancing new payment
technologies to its 21,000 member financial institutions and
their cardholders, Ellyana said. (gis)