Despite the struggling economy, one of the largest credit card companies will see an increase in net income during the second quarter, according to a preview from The Associated Press.
The results from the time period, which will be released on Wednesday, are expected to be higher than before thanks to progress in the debit card sector. The source reports that the firm has been expanding operations overseas, purchasing DataCash and Access Prepaid Worldwide, a prepaid rewards card travel manager.
In addition, there were signs that spending with cards at credit card terminals or online was outpacing the national average in the United States.
“In the first quarter, for instance, the amount of purchases by consumers using MasterCard branded cards grew 21 percent to $393 billion, while they grew 14 percent to $236 billion in the U.S.,” the source reports.
One of its main competitors also experienced better results during the second quarter. In the three month period ending on June 30, Visa saw earnings increase 25 percent. The profits translated into a gain of $1.56 per share, higher than Bloomberg economists had predicted.Back To Blog