MasterCard’s cross-border transaction volume, on a currency adjusted basis (FX), exploded in the first quarter (1Q/16) outpacing Visa for the first time by 130 basis points (bps) year-on-year (YOY).
Sequentially, quarter-to-quarter (QTQ), MasterCard scored a 540 bps YOY gain, compared to Visa’s 100 bps gain YOY.
Cross-border volume refers to payments and cash volume where the issuing country is different from the merchant country.
Visa’s cross-border currency adjusted (FX) gross dollar volume (GDV) increased 5.0% YOY, while MasterCard rose 6.3% YOY for FX GDV in the first quarter.
Visa reported its FX cross-border GDV rose 5.0% in 1Q/16, compared to 4.0% in 4Q/15 and 8.0% YOY in 1Q/15.
MasterCard reported its FX cross-border GDV rose 6.3% in 1Q/16, compared to 0.9% in 4Q/15 and 3.4% YOY in 1Q/15.
On a nominal basis, not current adjusted (NFX), there is a dramatic difference between the two major networks.
Visa reported its NFX cross-border GDV was flat in 1Q/16, compared to a decline of 4.0% in 4Q/15 and a gain of 2.0% YOY in 1Q/15.
MasterCard reported its NFX cross-border GDV was 11.9% in 1Q/16, compared to 12.3% in 4Q/15 and 18.7% YOY in 1Q/15.
Visa cross-border volume includes cards carrying Visa, Visa Electron, Interlink and PLUS brands.
MasterCard cross-border volume includes all MasterCard-branded programs.
Visa YOY FX
Visa YOY NFX
MasterCard YOY FX
MasterCard YOY NFX
Source: Visa; MasterCard
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