Visa reports rise in card purchases

Visa reports rise in card purchases

In Colombia, a growth of almost 70% was identified in the number of Visa international cards used by tourists who made face-to-face transactions in the country in March, when compared to the same month in 2020.

(See: The dynamic of purchases with Davivienda cards grows).

This is one of the conclusions drawn by the data from a Visa Consulting & Analytics (VCA) report, which indicates that tourism in Latin America and the Caribbean has recovered after analyzing face-to-face transactions made with Visa credentials in Latin America and the Caribbean during the months of March 2020 (prior to the implementation of health measures related to covid-19) and March 2022.

The report identified an increase in both the use of credentials for face-to-face transactions as in international transactions, that is, those carried out with credentials issued outside the country in which they were used.

For reference, when comparing the number of transactions between March 2020 and March 2022, the average growth in the number of international transactions made with Visa in the region doubled.

(See: Spending with credit cards in 2021 exceeded 80 billion pesos).

Destinations in Central America and the Caribbean had the highest growth in the number of international face-to-face transactions made with Visa. The study listed the destinations in Latin America and the Caribbean that recorded the largest increase in Visa transactions made by international travelers in March 2022, compared to March 2020.

Destinations in Central America and the Caribbean had the highest growth in the number of international face-to-face transactions made with Visa: of the top 10 fastest growing destinations, 9 are in this sub-region. Dominican Republic, Puerto Rico and Costa Rica ranked first in the standings, followed by El Salvador, Paraguay, Aruba, Honduras, Guatemala, Panama and Belize.

In the case of South America, the three main countries with the greatest increase in the number of international face-to-face transactions were Paraguay, Uruguay and Colombia.

(See: Credit card purchases exceed pre-pandemic levels).

In addition to security and convenience, another fact that stands out is that travelers are taking advantage of new technologies. International contactless transactions also increased by nearly 53% across Latin America and the Caribbean in March 2022 compared to March 2020.

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