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MasterCard Reports Strong Growth in
Its Payment Programs For Third Quarter, First Nine Months
of 2002
Number of MasterCard Cards Issued
Globally Grows By 15.6% Almost 10 Billion Purchase and
Cash Transactions Registered
Purchase, NY, November 13, 2002 -- MasterCard
International today reported performance results for
its payment programs for the three and nine month periods
ended September 30, 2002, indicating continued growth
across all regions and in all key measures of success
in the payments industry.
- "Although most economies around the world remained
weak during the year, MasterCard continues to see
strong growth in all aspects of our payment programs,"
said Robert W. Selander, MasterCard's president and
CEO. "These results demonstrate the continued
progress our payment solutions are making against
cash and checks as consumers and merchants around
the world increasingly recognize the convenient and
secure options we offer."
In addition, Selander attributed MasterCard's success
to the company's strategic focus on providing exceptional
customer service and technological capabilities, unsurpassed
acceptance, and customized payments solutions for
its member financial institutions around the globe.
"Our growth continues to reflect that more and
more often, our members and their customers are turning
to MasterCard as their payment brand of choice."
Highlights of the first nine months of 2002 include:
- Cardholders around the globe used MasterCard®-branded
cards (excluding Cirrus® and Maestro®
online debit activity) for more than 9.84 billion
purchase and cash transactions in the first nine
months of 2002, generating gross dollar volume
(GDV) of $831.7 billion, an increase of 16.1%
over the same period in 2001. Third quarter 2002
purchase and cash transactions reached 3.50 billion,
generating GDV of $296 billion, a 16.5% gain over
third quarter 2001;
- As of September 30, 2002, MasterCard's 25,000
member financial institutions around the world
had issued nearly 578.8 million MasterCard-branded
cards, a 15.6 % increase over September 30, 2001.
These cards could be used at 29.6 million acceptance
locations around the world;
- The value of purchases on MasterCard cards,
a significant measure of success, continued to
show substantial gains. Globally, purchase volume
(excluding cash transactions) rose 14.4% to $580.3
billion for the first nine months of 2002 compared
to the same period in 2001. During the first nine
months of 2002, MasterCard-branded cards were
used for 8.59 billion purchase transactions. Purchase
volume was $207.8 billion in the third quarter
of 2002, a 16.1% increase from the 2001 period,
with 3.07 billion transactions recorded.
- MasterCard's strong growth in the first nine months
of 2002 was fueled by growth in both credit and debit
programs. GDV for worldwide MasterCard credit programs
grew 15.1% to $690.6 billion, and GDV for MasterCard
off-line debit programs rose 21.6% to $141.1 billion,
in each case compared to the first nine months of
2001.
- Strong Regional Results
- Strong MasterCard-branded GDV growth was reported
for all regions, with each reporting double-digit
gains in the first nine months of 2002 compared to
the same period in 2001: the U.S. rose 17.8%; Europe,
13.6%; Asia/Pacific, 12.7%; Latin America, 26.3%;
South Asia, Middle East/Africa, 23.1%; and Canada,
19.8%.
In the United States, which accounts for more than
half of total GDV, MasterCard-branded cards were used
in almost five billion purchase and cash transactions
in the first nine months of 2002, generating $439.7
billion in GDV, a 17.8% GDV increase over the same
period in 2001. Both strong purchase volume growth
of 16.6% and strong cash volume growth of 21.0% drove
this high growth rate. At September 30, 2002, the
number of MasterCard cards issued in the United States
increased 15.1% to almost 309 million. - GDV in Europe for MasterCard-branded cards rose
13.6% in the first nine months of 2002, to $172.6
billion, compared to the same period in 2001. MasterCard-branded
card issuance and GDV growth increased 13.5% and 14.9%
respectively, for the third quarter of 2002 over the
same period last year.
The Asia Pacific region reported MasterCard GDV growth
of 12.7% for the first nine months of 2002, to almost
$165.9 billion, compared to the same period in 2001.
These regional results were driven by strong MasterCard
GDV growth in Korea (up 28.3%), Australia (up 15.7%)
and Japan (up 11.5%) between the periods. Third quarter
MasterCard GDV in Asia Pacific rose 8.8% in 2002 over
the same period in 2001. The number of MasterCard-branded
cards issued in the region at September 30, 2002 rose
17.2%, to 110.8 million, compared to September 30,
2001.
In Canada, MasterCard GDV rose 19.8% for the first
nine months of 2002, and 21.1% for the third quarter
of 2002, in each case compared to the same period
in 2001. Purchase volume in Canada remained strong
in the first nine months of 2002, representing over
82.2% of GDV in that region. At September 30, 2002,
Canadian banks had increased the number of MasterCard
cards issued by 19.1% compared to September 30, 2001.
Latin America reported a strong 26.3% increase in
MasterCard GDV for the first nine months of 2002 compared
to the same period in 2001, as the number of MasterCard
cards issued in the region at September 30, 2002 jumped
16.4% compared to September 30, 2001. Driven by strong
third quarter 2002 performance in Mexico and Brazil,
Latin America experienced an increase in GDV of 25.9%
for the third quarter of 2002 compared to the third
quarter of 2001.
In South Asia, Middle East/Africa, MasterCard GDV
grew 23.1% during the first nine months of 2002, and
24.9% for third quarter of 2002, in each case compared
to the same period in 2001. Strong purchase volume
growth of 26.3%, strong cash volume growth rates and
a very strong GDV growth rate in South Africa fueled
the region's growth in the third quarter of 2002 compared
to 2001. - For further information on the performance results
described in this press release, please review MasterCard
Incorporated's Current Report on Form 8-K filed with
the U.S. Securities and Exchange Commission on November
13, 2002, including the narrative description therein
of the sources of, and bases of presentation for,
the performance results for MasterCard's payment programs.
-
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MasterCard International has a comprehensive portfolio
of well-known, widely accepted payment brands including
MasterCard®, Cirrus® and Maestro®. More
than 1.7 billion MasterCard, Cirrus and Maestro logos
are present on credit, charge and debit cards in circulation
today. With approximately 25,000 MasterCard, Cirrus
and Maestro members worldwide, MasterCard serves consumers
and businesses, both large and small, in 210 countries
and territories. MasterCard is a leader in quality
and innovation, offering a wide range of payment solutions
in the virtual and traditional worlds. MasterCard's
award-winning Priceless® advertising campaign
is now seen in 90 countries and in 45 languages, giving
the MasterCard brand a truly global reach and scope.
With more than 29 million acceptance locations, no
payment card is more widely accepted globally than
MasterCard. For the nine months ended September 30,
2002, gross dollar volume exceeded US$831.7 billion.
MasterCard can be reached through its website at http://www.mastercardinternational.com.
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