Visa beats quarterly profit estimates on travel, online spending boom

Total cross-border volume rose 38% on a constant dollar basis from a year earlier


Visa Inc reported a rise in quarterly profit on Tuesday, as the world's largest payment processor benefited from a pickup in travel with economies reopening worldwide and more people shopping online.
Total cross-border volume rose 38% on a constant dollar basis from a year earlier.
Payment companies are seeing an uptick in volumes from the coronavirus-induced slump as massive government stimulus and speedy vaccine rollouts fuel an economic recovery, unleashing pent-up demand for both goods and services.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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First Published: Oct 27 2021 | 3:09 AM IST

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