Visa International reported today that the number of Visa Mini cards issued across the region has already reached nearly 1 million in less than a year since its launch in July 2003.  These innovative cards are already in circulation in Chile, Colombia, Domincan Republic, Guatemala, Mexico, and Peru. 

"We are pleased with the rapid growth that Visa and our Member banks have experienced with the Visa Mini card program", said Vicente Echeveste, vice president, Consumer Products, Visa International, Latin America and Caribbean Region. "Around the world, the number of Visa Mini cards has also experienced remarkable growth reaching 16 million. These numbers clearly demonstrate that consumers recognize the convenience and benefits of the card. In the United States, for example, the growth rate in terms of sales volume using a Visa Mini card has been greater than with a traditional card."

The Visa Mini card is offered as an innovative, modern and convenient companion card to full-sized credit and debit cards. It provides all the benefits of a Visa card while being the smallest credit or debit card in the marketplace. The cutting-edge patented technology of its magnetic stripe enables card size reductions in width as well as length, resulting in a card that is 4 cm wide and 6.6 cm long, about half the size of a traditional Visa payment card. A small hole in the lower left corner of the card allows for easy attachment to carry-along objects, such as a key chain, eliminating the need for cardholders to carry a wallet or a purse to have their Visa card at hand.

The Visa Mini card can be used conveniently at more than 20 million point-of-sale (POS) terminals with "swipe" readers around the world, with no access to ATMs for added security. In addition, cardholders can assign a credit or debit limit to the Visa Mini card that is below the limit of its accompanying traditional card, making the card an ideal solution, for example, for households who want to exercise control over their spending with a practical payment method rather than using cash or checks.

"The recent programs launched in Latin America mark the first phase of Visa's aggressive push to introduce the Visa Mini card across the region. We expect the number of Visa Mini Cards to continue increasing since more launches are expected in many other markets across the region," concluded Echeveste.

About Visa    Visa is the world's leading payment brand generating US$2.7 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce—the ability to conduct commerce anywhere, anytime, and any way. For more information, visit www.visalatam.com.