Visa's RI sales up 30 percent

Visa's RI sales up 30 percent

JAKARTA (JP): Visa International booked a 30 percent increase
in its card sales in Indonesia to US$870 million in 2000 over the
previous year's figures.

Visa's country manager for Indonesia, Ellyana Fuad, said here
over the weekend the volume of Visa transactions rose by 20
percent last year.

"Our results reflect the increasing preference here to replace
existing cash and check payments with payment cards," she said.

Last year, Visa, one of the world's major credit card
companies, launched several initiatives in Indonesia including
Visa Electron with Lippo Bank, a virtual co-branded program with
Commerce Net and Universal Bank and the first purchasing card
with Citibank and Pertamina.

Visa said its global sales increased by 21 percent to $1.8
trillion last year, while the transaction volume rose by 19
percent.(05)