Visa Earnings Rise 51%

Visa Inc.'s fiscal fourth-quarter profit grew 51% as consumers spent more and the number of transactions processed increased, helping revenue growth top expectations.

Payments volume, representing spending on Visa cards, climbed 14% for the three months ended June 30, on which revenue in the latest quarter is recognized.

Visa and its archrival MasterCard Inc., which reports results Tuesday, are insulated from credit woes arising from delinquencies because they don't lend to consumers. Instead, they make money from the fees they charge banks.

And while new financial rules left untouched the so-called network fees Visa and MasterCard charge banks on debit cards, they will likely lower income banks earn from debit cards. Investors are concerned that banks may try to offset this by lowering network fees or scaling back on debit cards

Read Full Article from Wall Street Journal

- Posted: 2010-10-27 22:17:43

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