The second largest credit card company in the world recently announced that profits during its second quarter rose 15.1 percent.
MasterCard was able to increase revenues thanks to higher volumes of payments and transactions. During the period, the company earned $700 million, topping last year’s total of $608 million during the same time last year.While the increase was considered positive news, some industry experts said that the pace of growth was likely to slow down in the coming months.
“The reality is you’re going to see probably a bit of deceleration of spending-volume growth, but I still think you’re going to see both debit volume and credit volume largely grow for the industry,” said Darrin Peller, an analyst with Barclays, in an interview with the Wall Street Journal.
MasterCard was one of several companies that settled a lawsuit recently for illegally making prices higher for merchants services operations. The firm, along with Visa and major banks, agreed to pay some $7.5 billion for excessively high swipe fees.Back To Blog