Visa International has announced that the value of all purchases and cash withdrawals made with its commercial payment solutions worldwide has reached $317 billion for the four quarters ended June 30, 2006.
The company said that the achievement of this total, as well as the accompanying 24% year-on-year global growth rate, underscores the widespread adoption of Visa Commercial payment products and services by businesses and governments worldwide.
Reaching the $317 billion mark in global commercial sales volume in such a short period of time clearly demonstrates our tremendous growth and success in this sector and solidifies Visa’s position as the global commercial market leader, said Aliza Knox, senior vice president of Visa Commercial at Visa International.
In addition to the overall success of Visa Commercial products and services, all Visa regions experienced double-digit growth in commercial sales volume, with the majority registering an annual growth increase of at least 20%.
Visa Commercial provides payment products with information management and services designed to help businesses and the public sector achieve cost savings, greater efficiency, control, and convenience. With acceptance in more than 160 countries worldwide, Visa operates the world’s largest electronic payments network.