$3.2bn transactions through Visa cards

Transactions with Visa cards between March 2004-March 2005 totaled over $3.2bn (2.6bn euros), surging 62% on the previous year. During this period, the total number of transactions exceeded 50 million, over 23% more as compared to the previous fiscal year. a??Redenomination is a considerable challenge, but also a growth opportunity for the card industry. Card owners will find it easier and more secure to use cards as compared to cash payments involving multiple bills and coins, old and new. Similarly, stores accepting electronic payment will save resources (time and money) they would otherwise waste sorting, counting and transporting large quantities of cash,a?? stated Catalin Cretu, Visa Internationala??s regional manager for Romania and Bulgaria. In the fiscal year March 2004-March 2005, total card deals involving stores soared to almost four million, 120% higher as compared to the previous period. In late March, there were almost three million Visa card users in Romania, out of over six million cards admitted as valid by the National Bank. Visa Electron card accounts for 87% of the total Visa products on the market. Visa officials maintain the other Visa segments are also beginning to grow. ZF