December 5,2006
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Visa Business Spending Tops $190 Billion
At the end of the 2006 fiscal year, Visa announced that spending on Visa branded business credit cards had hit an all-time high of $190 billion. That figure represents an annual growth of 32%, and proof of small business owners' preference for credit card transactions, that may offer more security than cash or checks.
Visa attributes this massive growth to the relative efficiency of credit cards in dealing with business-related expenses. Business owners may pay expenses with their credit card because it allows them to chart cash-flow and manage debt better.
Visa's $190 billion is a significant chunk of change, and a respectable, albeit tiny percentage of the estimated $61 trillion in worldwide business and government spending in 2005.