MasterCard’s (MC) Europe region Q1/15 Gross Dollar Volume (GDV) rose year-on-year (YOY) by 15.1%, and solid compared to Q1/14’s 14.7% YOY gain. The figure is more than twice the growth rate in the US and bests the global MC Q1/15 GDV gain of 12.1%.
On a nominal basis, MC’s Europe GDV declined 8.4% to US$286 billion in Q1/15, compared to US$347 billion in Q4/14 and US$312 billion in Q1/14.
Purchase Dollar Volume (PDV) rose YOY 13.1% on a currency adjusted basis (FX) in the first quarter to US$200 billion.The total number of Purchase Transactions (PTX) hit 3939 million, compared to 3250 million one-year ago.
MC’s Cash Dollar Volume (CDV) was up by 19.9% YOY FX to US$85 billion. The total number of Cash Transactions (CTX) hit 666 million, compared to 596 million one-year ago.
MC has 382 million cards-in-force (CIF) currently in the Europe region, compared to 335 million in Q1/14. The total number of accounts rose to 365 million in Q1/15, compared to 319 million for Q1/14.
RAM Research projects MC Europe GDV YOY (FX) to top 16% in the second quarter.
Gross Dollar Volume YOY (FX)
Source: CardData; MasterCard
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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.