Financial report context:
competition we compete in the global payment marketplace against all forms of payment , including paper- based forms ( principally cash and checks ) , card-based payments ( including credit , charge , debit , atm , prepaid , private-label and other types of general-purpose and limited-use cards ) and other electronic payments ( including wire transfers , electronic benefits transfers , automatic clearing house , or ach , payments and electronic data interchange ) . within the general purpose payment card industry , we face substantial and intense competition worldwide in the provision of payments services to financial institution customers and their cardholder merchants . the leading global card brands in the general purpose payment card industry are visa , mastercard , american express and diners club . other general-purpose card brands are more concentrated in specific geographic regions , such as jcb in japan and discover in the united states . in certain countries , our competitors have leading positions , such as china unionpay in china , which is the sole domestic inter-bank bankcard processor and operates the sole domestic bankcard acceptance mark in china due to local regulation . we also compete against private-label cards , which can generally be used to make purchases solely at the sponsoring retail store , gasoline retailer or other merchant . in the debit card market segment , visa and mastercard are the primary global brands . in addition , our interlink and visa electron brands compete with maestro , owned by mastercard , and various regional and country-specific debit network brands . in addition to our plus brand , the primary cash access card brands are cirrus , owned by mastercard , and many of the online debit network brands referenced above . in many countries , local debit brands are the primary brands , and our brands are used primarily to enable cross-border transactions , which typically constitute a small portion of overall transaction volume . see item 8 2014financial statements and supplementary data for financial information about geographic areas . based on payments volume , total volume , number of transactions and number of cards in circulation , visa is the largest retail electronic payments network in the world . the following chart compares our network with those of our major general-purpose payment network competitors for calendar year 2008 : company payments volume volume transactions cards ( billions ) ( billions ) ( billions ) ( millions ) visa inc. ( 1 ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2727 $ 4346 56.7 1717 .

Financial table:
company: visa inc. ( 1 ); payments volume ( billions ): $ 2727; total volume ( billions ): $ 4346; total transactions ( billions ): 56.7; cards ( millions ): 1717
company: mastercard; payments volume ( billions ): 1900; total volume ( billions ): 2533; total transactions ( billions ): 29.9; cards ( millions ): 981
company: american express; payments volume ( billions ): 673; total volume ( billions ): 683; total transactions ( billions ): 5.3; cards ( millions ): 92
company: discover; payments volume ( billions ): 106; total volume ( billions ): 120; total transactions ( billions ): 1.6; cards ( millions ): 57
company: jcb; payments volume ( billions ): 63; total volume ( billions ): 68; total transactions ( billions ): 0.7; cards ( millions ): 60
company: diners club; payments volume ( billions ): 30; total volume ( billions ): 31; total transactions ( billions ): 0.2; cards ( millions ): 7

Additional report context:
( 1 ) visa inc . figures as reported on form 8-k filed with the sec on april 29 , 2009 . source : the nilson report , issue 924 ( april 2009 ) and issue 925 ( may 2009 ) . note : visa inc . figures exclude visa europe . figures for competitors include their respective european operations . visa figures include visa , visa electron , and interlink brands . the visa card figure includes plus-only cards ( with no visa logo ) in all regions except the united states , but plus cash volume is not included . domestic china figures including commercial funds transfers are excluded . mastercard includes pin-based debit card figures on mastercard cards , but not maestro or cirrus figures . american express includes business from third-party issuers . jcb figures are for april 2007 through march 2008 , but cards are as of september 2008 . transaction figures are estimates . figures include business from third-party issuers. .

Question: what is the average payment volume per transaction of visa inc?
Answer: 48.1