Visa, the world’s largest credit and debit card network reported strong quarterly results as its customers spent more on its cards, but smaller rival MasterCard reported a tougher quarter and warned of a difficult outlook.
Visa reported rising growth in the key US market in contrast to MasterCard, which has suffered as some of its biggest issuers, including Citigroup Inc, struggle.
Visa stock rose 2.2 per cent in after-hours trading while shares in MasterCard, which reported earlier in the day, closed down 2.4 per cent on the New York Stock Exchange.
via Business feed http://www.scmp.com/business/companies/article/1228219/visa-enjoys-upbeat-quarter-mastercard-lags
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