MasterCard profit rises 11.1% as purchase volumes jump

[NEW YORK] MasterCard Inc, the operator of the world's second-largest payments network, reported an 11.1 per cent rise in quarterly profit as purchase volumes rose.

The company's net income rose to US$890 million, or 79 cents per share, in the fourth quarter ended Dec 31 from US$801 million, or 69 cents per share, a year earlier.

MasterCard's gross dollar volume - the total value of transactions made by its customers - rose 12 per cent to US$1.2 trillion on a local currency basis.

REUTERS