Americans spent more than $1 trillion on Visa credit, debit and prepaid cards in 2004, a 19% jump over the year before. Visa USA CEO Carl Pascarella sat down with TIME's Barbara Kiviat to talk about the continued march to plastic.
TIME: Where do you look for growth?
PASCARELLA: Everyday expense is growing markedly. That's the grocery store, the movie theater, gas stations. Quick-service restaurants--a $142 billion business, of which the card industry has got about 9%--is growing at 67% a year [for Visa]. We've had significant growth in prepaid cards, and the payroll card is very important to us.