Mastercard's profit jumps nearly 20%

[BENGALURU] Mastercard, the world's second-biggest payments network, reported a nearly 20 per cent jump in quarterly profit as people spent more using credit and debit cards.

The company's net income rose to US$1.18 billion, or US$1.10 per share in the second quarter ended June 30, from US$983 million, or 89 US cents per share, a year earlier.

The New York-based company's revenue climbed 13.3 per cent to US$3.05 billion.

REUTERS