MasterCard/Visa See Debit Grow but"Credit Declined"

MasterCard Inc. saw U.S. debit card purchase volume rise 3.4% from year-earlier levels to $82 billion in the second quarter, and debit purchase transactions rose 11.3% to 2.11 billion. But U.S. credit purchase volumes fell 15.5% to $120 billion on 1.5 billion transactions, off 5.8%. Total worldwide transactions processed grew 7.9% to 5.63 billion...

Visa Inc. processed 10.3 billion transactions in its third fiscal 2009 quarter ended June 30, up 8.4% from 9.47 billion a year earlier. But most of the operating data Visa released Wednesday with its latest earnings report were for the quarter ended March 31, and they showed a 9.7% decline in U.S. credit payments volume and 3.9% decline in credit transactions from the year-earlier quarter. U.S. debit volumes, however, rose 4.7% and transactions increased 10.3%.

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