Revenues climb at MasterCard

MASTERCARD, the world’s second biggest payment processor, has posted a better-than-expected second quarter income, increasing from last year’s £279.4m to £370.9m.

Revenue rose 22 per cent to £1bn, while analysts had forecasted £945.6m.

An increase in volume and processed transactions is said to have fuelled the double-digit revenue growth this quarter. The use of credit cards outside of customers’ home countries increased by 19 per cent last year. Operating expenses increased 20.8 per cent to £477m, compared to the same period in 2010.