MasterCard Reports Strong Growth across the Latin America and Caribbean Region in 2010
The number of MasterCard® and Maestro® cards in Latin America and the Caribbean region neared 260 million
• Full year 2010 transactions with MasterCard®-branded cards reached 2.8 billion generating a gross dollar volume of US $221 billion, up 17.4% versus 2009
Miami, FL – – MasterCard Worldwide’s Latin America and Caribbean (LAC) region announced its operating results for the fourth quarter and full year 2010, posting growth in both MasterCard® and Maestro® programs.
During the fourth quarter of 2010, MasterCard cardholders in the Latin America and Caribbean region used their MasterCard®-branded cards (excluding Cirrus® and Maestro®) for 801 million purchase and cash transactions, up 18.4% versus the fourth quarter of 2009. The 801 million transactions generated a total gross dollar volume (GDV) of US $66 billion, up 20.0% on a local currency basis, over the same period in 2009. Additionally, purchase volume reached US $38 billion in the fourth quarter of 2010, increasing 25.0% on a local currency basis, compared to the same period in 2009. GDV represents purchase volume plus cash volume and includes the impact of balance transfers and convenience checks.
The number of MasterCard-branded cards increased 4.5% by the close of the fourth quarter or December 31, 2010, totaling 127 million cards, and MasterCard cardholders could use their cards at 31.7 million acceptance locations worldwide including close to four million locations in the region. MasterCard’s global PIN-based debit program, which includes Maestro, and MasterCard’s ATM-only brand Cirrus, also demonstrated positive results in the fourth quarter of 2010. In the Latin America and the Caribbean region, the Maestro brand mark appeared on 132 million cards, up 2.0% compared to the fourth quarter of 2009. The total number of MasterCard-branded and Maestro cards neared 260 million.
For the full year 2010, MasterCard cardholders in the Latin America and Caribbean region used their MasterCard-branded cards (excluding Cirrus and Maestro) for 2.8 billion purchase and cash transactions, generating a gross dollar volume (GDV) of US $221 billion, up 17.4% on a local currency basis as compared to 2009. Additionally, purchase volume reached US $125 billion in 2010, increasing 22.4% on a local currency basis as compared to 2009.
“2010 was a very exciting year for MasterCard LAC. We evolved with the trends that are shaping our industry for the future through strategic partnerships and by delivering new and innovative solutions to all constituents in the value chain in markets across LAC,” said Richard Hartzell, president, MasterCard Latin America and Caribbean Region. “In 2011, we are looking forward to staying ahead of the trends and the advancements of the electronic payments industry by driving innovation and new payment options for consumers, issuers, merchants, and other entities.”
A number of strategic alliances, the launch of several innovative payment solutions and several multi-year agreements with key customers contributed to LAC’s results in 2010 including:
• our partnership with Telefónica which includes a co-brand credit card agreement in 12 Latin American markets, as well as the recently announced joint venture with Telefónica to offer mobile financial solutions in those same market in the region;
• MasterCard LAC’s partnership with Borderlinx to bring a robust cross-border e-commerce solution to Mexico;
• the launch of the first Mobile Payments Gateway pilot in the world in Brazil;
• multi-year agreements with Citibank in Argentina and Credomatic in Central America to expand the reach of electronic payments in these markets; and
• the renewal of the Copa America sponsorship for 2011.
As a leading global payments company, MasterCard (NYSE: MA) prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.