Visa profits jump as struggling customers turn to plastic to pay bills
Credit card and digital payments giant Visa has seen a jump in profits for the second quarter of its financial year. That is mainly due to increased consumer spending in the US, one of its biggest markets. The company saw a net revenue of $8.8 billion (€8.24 billion). This was a surge of 10% both on a constant-dollar and nominal basis. Adjusted net income came in at $5.1 billion (€4.8 billion), a rise of 17% year-on-year. Processed transactions inched up 11% year-on-year, whereas overall payments volume jumped 8% over the period. The company also saw dividend payments and share buybacks amount...