MasterCard on a roll in Latin America, the Caribbean

MasterCard, the megabuck credit card company, amassed a 25.4 percent increase in the first three quarters of 2003 in terms of gross dollars invoiced (GDV) all around Latin America and the Caribbean Basin.

These outcomes lay bare a steady growing trend that ‘s been unchanged since last year regardless of a bleak world economy.

MasterCard president and CEO W. Selander pointed out credit cards continue to nudge cash money and checks as the payment of choice as more consumers everywhere around the globe recognize the convenience and safety of using them instead of carrying thick wads of bills in their pocket.

The number of MasterCard credit cards issued in Latin America and the Caribbean has been up 4.2 percent for the fiscal year that ended on September 30 this year.

With a strong showing in the third quarter of 2003, Latin America nicked a staggering 22.7 percent GDV growth compared to the same span of time the year before.

“It’s very encouraging to see that amid a weakened global economy, especially in Latin America, MasterCard is still on the rise,” said Jean Rozwadowski, MasterCard president for Latin America and the Caribbean.

“This kind of nonstop growth is giving us the necessary boost to continue developing products with additional values that can eventually help business operations by our affiliated financial institutions grow on and on,” Mrs. Rozwadowski concluded.