Credit card major Visa International said on Thursday that its Indian operations registered the strongest growth in the second quarter of this year.
"India witnessed an exceptional growth rate on all key parameters including card numbers, card sales volume and retail sales volume," a Visa International press release said in New Delhi, quoting country manager Santanu Mukherjee.
In this quarter, the total number of Visa cards reached 12.45 million -- reinforcing Visa's leadership position in India, he said.
Retail sales growth was 40.6 per cent at $390 million during the quarter while card sales volume grew by 198.4 per cent at $2.14 billion.
"These phenomenal growth rates would not have been possible without the support of our member banks and consumer confidence in Visa branded products," Mukherjee said.
Visa Asia Pacific operations sales grew by an overall 7.0 per cent to $65 billion, partly reflecting a slowdown in travel and tourism caused by SARS (Severe Acute Respiratory Syndrome) outbreak.
Visa posted a 13 per cent growth in card issue to 193 million in the region while card sales volume dropped 3.0 per cent to $107 billion.
World leading payment brand, Visa generates $2.6 trillion in annual card sales volume in more than 150 countries, it said.
© 2026