Business Services Industry
Robust growth in credit card transactions, BUSINESS TIMES
Business Times (Malaysia), May, 2002 by Adeline Paul Raj
Business Times (Malaysia) 05-06-2002 DESPITE the shaky economic conditions last year, business was surprisingly brisk for the credit card institutions in Malaysia. Visa International, for one, said it achieved record growth in card sales volume to US$2.7 billion (US$1 = RM3.80) in the country for the financial year ended December 31 2001.
This was a 20 per cent increase from the US$2.25 billion generated a year before. In terms of retail sales, or spending at point of sale, Malaysia even surpassed the global growth rate of 13 per cent, surging 22 per cent to US$2.42 billion. "Visa registered very strong growth in Malaysia despite the uncertain economic condititions as well as September 11... which is a very positive indication of the strength of...
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