MasterCard yesterday reported first quarter gross dollar volume of $146.7 billion in the USA, a 10.3% gain over 1Q/02. Credit card volume was up 10.4% to $117.2 billion, while off-line debit card volume grew 10.1% to $29.4 billion. The GDV increase was driven by a solid 12.3% gain in credit card purchase volume, and a 20.7% gain in debit card purchase volume. The number of cash transactions on both credit and debit cards declined 5.3% and 1.1%, respectively. The number of MasterCard credit cards issued in the USA was up 10.6% to 264.7 million, and outstanding balances reached $278 billion, a 13.2% increase over the same period in 2002. The number of debit MasterCard cards issued rose 15% to 50.5 million. For complete details on MasterCard’s 1Q/03 performance visit CardData ([www.carddata.com]).