Visa Reports 22% Rise in Transaction Volume

Visa International Inc. said the dollar amount of transactions on its cards rose 22% in the 12 months through September, as more people started using the cards and more businesses began accepting them.

Visa, a payment system owned by a consortium of banks, saw its biggest gains in Latin America, where its transaction volume more than doubled to $68 billion in the 12-month period, a spokesman said.

Visa purchases in Central Europe, the Middle East and Africa rose 80%, to $13 billion, while Asia-Pacific transaction volume rose 38%, to $133 billion. U.S. transactions went up 18%, to $505 billion.