MasterCard Cites Debit Gains

The card issuer says cards issued rose 8.3% in the first quarter.
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MasterCard International said debit cards issued rose 8.3% from a year ago in the first quarter.

The credit card company, run by a group of big banks, said more than 567 million debit cards were issued in the period ended March 31. The company also said more merchants are accepting its cards. "Consumers can make online debit point-of-sale purchases with their MasterCard or Maestro branded cards at nearly 8.8 million merchant locations globally," MasterCard said.

"As the only truly global online debit network, MasterCard is uniquely positioned to deliver the best value to consumers, merchants and financial institutions in markets throughout the world," said MasterCard's Richard G. Lyons Jr. "The continued progress we've seen over the past quarter, especially in the United States, and South Asia, Middle East and Africa, is a clear sign of our continued momentum in the marketplace, as well as a shifting of consumer preference away from cash and checks to debit cards."