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India proves jewel in the crown for Visa

India proves jewel in the crown for Visa

(India) Visa’s Indian business is going through the roof with the plastic money company registering retail sales growth of 40.6 percent in Q2 of this year. During the quarter, card sales volume increased by a staggering 198.4 percent at US$2.14 billion.

"India witnessed an exceptional growth rate on all key parameters including card numbers, card sales volume and retail sales volume," country manager Santanu Mukherjee said in a statement.

"These phenomenal growth rates would not have been possible without the support of our member banks and consumer confidence in Visa branded products," he said.

Visa’s operations in Asia Pacific increased seven percent to $65 billion, a figure that was affected by the outbreak of SARS.

Across the region, the company registered a 13 percent increase in the amount of cards issued to 193 million. However, card sales volume dipped three percent to $107 billion.
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