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VISA is now processing more Check Card transactions than credit card transactions. In fact, VISA Check Cards now represent 35.3% of VISA's total U.S. card volume, compared to 17% just five years ago. Last year, VISA processed 6.9 billion debit card transactions compared to 6.2 billion credit card transactions. Since 1996, VISA's off-line debit card or Check Card volume has more than tripled even though its market share has declined somewhat, from 84% to 77%. During 2001, VISA processed $323,989,969,000 in Check Card volume, a 26.8% increase over the previous year. Of the $324 billion in gross debit card dollar volume posted last year, $205.3 billion was in purchases and $118.7 billion was in cash advances. The number of VISA Check Cards in the market jumped 14.5% during 2001, compared to a 1.7% increase in the number of credit cards. VISA now has 117 million Check Cards and 260 million credit cards in the USA. VISA also reported an 11% increase in the number of merchant locations last year, from 4.4 million to more than 4.9 million. For complete details on VISA's 2001 statistics visit CardData (www.carddata.com).
