Visa profit rises 24 percent on higher payment volumes

(Reuters) - Visa Inc , the world's largest payments network operator, reported a 23.7 percent rise in first-quarter profit, as payment volumes increased.

The company's net income rose to $1.94 billion, or 80 cents per Class A share, in the three months ended Dec. 31, from $1.57 billion, or 63 cents per Class A share, a year earlier.

Total payments volume rose 11 percent to $1.3 trillion on a constant dollar basis.

(Reporting by Sruthi Shankar and Sudarshan Varadhan in Bengaluru; Editing by Savio D'Souza)