Visa International celebrates 1 millionth ATM

With ATMs located in more than 160 countries around the world, Visa is the most widely accepted card providing cardholders an array of convenient payment solutions for their everyday spending.

In the last twenty years Visa's global ATM network has grown from 13,000 ATM's in six countries in 1985 to 254,000 ATMs in 90 countries in 1995. Today this figure has quadrupled to reach 1 million ATMs. The growth in the number of ATMs has led to increased Visa card use, with more than 1 billion Visa/PLUS ATM transactions made during 2004, representing more than US$87.5 billion in cash withdrawals.

The number of Visa ATMs in Lebanon and Jordan combined from June 2004-2005 grew 12%, with this increase in numbers bringing added convenience to local cardholders across the region. As the Visa global ATM network continues to expand, Visa cardholders are increasingly able to obtain local currency and complete required services when traveling abroad, making Visa the preferred option for everyone.

Mr. Said Shuqom, Visa International General Manager for the Levant said,

"Visa cardholders expect to be able to choose how they access their funds, whether through debit cards, credit cards or through an ATM. Our goal is to provide that choice and convenience. In doing so, we not only provide a service to Visa/PLUS cardholders but also help them to support local economies through spending on travel and tourism."

The Visa global ATM network encompasses PLUS, Visa's global mark for ATMs. Visa/PLUS ATMs provide cash access to funds, generally 24 hours a day, seven days a week.

About Visa: Visa International is a service association owned by, and comprised of, 21,000 member banks. These banks have issued over a billion Visa cards worldwide on which US$3 trillion per year is spent across over 150 countries.

Visa's role is not to a make a profit but to provide payment solutions for its member banks, enabling them to issue cards and process merchants' Visa card transactions. The Visa products issued by the banks are safer, more convenient and more efficient than cash. Furthermore, they help to bring people into the banking system and to increase the funds available for commercial loans, the lifeblood of a growing economy.