Visa income exceeds expectations
Increased use of the coronavirus vaccine has led to an increase in human travel around the world. At the same time, people at home for prolonged periods are spending more on shopping and entertainment. As a result, the world's largest payment processor visa revenue has increased beyond expectations. News Reuters.
Visa released its statement for the second quarter of the year on Tuesday. There has been a 34 percent increase in visa payments in the second quarter compared to last year. Besides, the number of transactions has increased by 39 percent.
Overall retail sales in the United States increased last June. Visa is seeing this success as the demand for travel and shopping has increased in the world's largest economy after the lockdown. It is expected to further grow in the coming months.
Visa CEO Alfred Kelly said VISA have crossed a strong threshold as the economy of many countries has revived. The cost of cross-border travel has also increased due to increased vaccination and the opening of borders in different countries.
He said visa cross-border volume rose 47 percent in the second quarter. The total revenue has increased by 27 percent to 6.13 billion dollars. Profit per share has reached 1.49 dollars.
DBTech / BMT
