Consumer Payment Card News

Red Friday

Americans went into the “red” to make last Friday “black.” VISA reported that overall retail volume on credit and debit cards for November 26th was up 12%. MasterCard processed over 35.1 million credit transactions on “Black Friday,” a 10% growth over the same day in 2003. VISA says the increase in sales volume for “Black Friday” was largely driven by a 20.9% increase in Discount, Mass Retailers and Drug Store purchases, a 15.7% growth in Department and Apparel purchases, and, a 15.6% rise in Home and Garden purchases. Specialty Retail, Gift and Hobby purchases remained relatively flat. Overall, sales volume on VISA-branded payment cards on November 26th totaled more than $4.1 billion, a 15.5% increase over the same day last year. For “Black Friday,” consumer spending on VISA credit cards exceeded $2.1 billion while debit spending grew to more than $1.7 billion, a 10.0% and 21.6% increase from the same time in 2003, respectively. At the end of the third quarter Americans owed $662 billion on VISA, MasterCard, Discover, and American Express cards.

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