Purchase Dollar Volume (PDV) in Canada for Visa and MasterCards rose 4.4% on a U.S. dollar basis in the fourth quarter (Q4/14) but weakened by a very strong dollar. Nevertheless, all is good and strong north of the U.S. border.
However, while Visa dominates MasterCard in Canada, MasterCard is growing at a much faster pace.
Visa reported Q4/14 Gross Dollar Volume (GDV) of $66 billion, an 8% year-on-year (Y/Y) gain and a 7.9% Y/Y increase in Purchase Dollar Volume (PDV) to $61 billion, adjusted for currency.
MasterCard reported Q4/14 Gross Dollar Volume (GDV) of $35 billion, a 10.5% year-on-year (Y/Y) gain and a 12.6% Y/Y increase in Purchase Dollar Volume (PDV) to $33 billion, adjusted for currency.
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Total volume, payments volume and cash volume, and the number of payments transactions, cash transactions, accounts and cards represent cards carrying the Visa, Visa Electron and Interlink brands. Card counts include PLUS proprietary cards.
Payments volume represents the aggregate dollar amount of purchases made with cards carrying the Visa, Visa Electron and Interlink brands for the relevant period; and cash volume represents the aggregate dollar amount of cash disbursements obtained with these cards for the relevant period and includes the impact of balance transfers and convenience checks; but excludes proprietary PLUS volume. Total volume represents payments volume plus cash volume.
Visa payment products are comprised of credit and debit programs, and data relating to each program is included in the tables. Debit programs include Visa’s signature based and Interlink (PIN) debit programs.
The data presented are based on results reported quarterly by Visa’s financial institution clients on their operating certificates. Estimates may be utilized if data is unavailable. On occasion, previously presented information may be updated.
Gross dollar volume, purchase volume, cash volume and the number of purchase transactions, cash transactions, accounts and cards on a regional and global basis for MasterCard-branded and MasterCard Electronic branded cards.
GDV represents purchase volume plus cash volume and includes the impact of balance transfers and convenience checks; “purchase volume” means the aggregate dollar amount of purchases made with MasterCard-branded cards for the relevant period; and “cash volume” means the aggregate dollar amount of cash disbursements obtained with MasterCard-branded cards for the relevant period. The number of cards includes virtual cards, which are MasterCard-branded payment accounts that do not generally have physical cards associated with them.
The MasterCard payment product is comprised of credit, charge and debit programs, and data relating to each type of program is included in the tables. Debit programs include MasterCard-branded debit programs where the primary means of cardholder validation at the point of sale is for cardholders either to sign a sales receipt or enter a PIN. The data include information with respect to transactions involving MasterCard-branded cards that are not processed by MasterCard and transactions for which MasterCard does not earn significant revenues.
Information denominated in U.S. dollars is calculated by applying an established U.S. dollar/local currency exchange rate for each local currency in which MasterCard volumes are reported. These exchange rates are calculated on a quarterly basis using the average exchange rate for each quarter. MasterCard reports period-over-period rates of change in purchase volume and cash volume on the basis of local currency information, in order to eliminate the impact of changes in the value of foreign currencies against the U.S. dollar in calculating such rates of change.