MasterCard’s US growth slows but income still rises

City A.M. Reporter
MASTERCARD, the world’s second-largest credit and debit card network, reported a higher-than-expected rise in quarterly profit as more people used credit and debit cards instead of cash but growth slowed in the United States.

MasterCard customers made $690bn (£443.6bn) of purchases worldwide on a local currency basis, up 10 per cent.

Net income rose to $766m, or $6.23 per share, in the first quarter, from $682m, or $5.36 per share, a year earlier.