Mastercard posts big Q3 growth in Middle East

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CARD GROWTH: Mastercard International achieved growth in the Middle East region despite the global credit crisis.

MasterCard Incorporated has announced major iincreases in its third quarter results for the Asia/Pacific, Middle East & Africa region, compared to the same period in 2007.

For the quarter ending September, the region registered growth in gross dollar volume (22.7 percent), purchase volume (24.6 percent), purchase transactions (20.9 percent), cash transactions (29.1 percent) and cards issued (16.9 percent).

A total of 232 million MasterCard cards had been issued across the region by the end of September, company chiefs said.

Cardholders in the region made 901 million purchase transactions in the third quarter of 2008.

Andre Sekulic, president, Asia/Pacific, Middle East & Africa, MasterCard, said: “I am pleased with our third quarter results. Despite unprecedented economic turmoil, MasterCard was able to achieve growth in the region."

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