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Credit card transaction volume in Colombia increased to 1.57tn pesos (US$873mn) in March, up 11.3% compared with the same month in 2010, according to the latest figures from financial services regulator Superfinanciera.
The number of transactions rose 5.01% to 7.75mn in the same comparison, and the bulk of the total - 6.65mn - was purchases, while 1.10mn were cash advances.
Credibanco, the local unit of Visa (NYSE: V), surpassed Redeban Multicolor, the local unit of MasterCard (NYSE: MA), as the top company in transaction volume with 772bn pesos, versus the 734bn pesos that Redeban had in March.
As for debit cards, volume reached 9.62tn pesos in the third month of the year, a 23.9% increase from the same month last year. The number transactions reached 43.3mn, a 5.32% increase.