VISA has surpassed American Express and MasterCard in card volume produced by international travelers purchasing core international travel and entertainment products and services worldwide. The findings are part of a new WEFA study which indicates that in 1997, travelers used their VISA cards to purchase more than $120 billion in core T&E products and services worldwide, representing over 38% of total T&E purchases for payment cards and a 7% edge over VISA’s closest competitor in the category, American Express (31%). WEFA’s report maintains that worldwide spending on core T&E segments totaled $680 billion in 1997.
GLOBAL T&E CARD VOLUME
T&E CATEGORY VISA AMEX MC
Lodging Expenditures 38.5% 29.0% 22.0%
Cruise Sales 46.0% 25.0% 22.0%
Air Travel Sales 39.0% 34.0% 18.0%
Auto Rental Sales 37.0% 35.0% 19.0%