Mastercard customers are using credit cards more often

Asia's Tech News Daily

Mastercard customers are using credit cards more often

Photo: ANP

Credit card company Mastercard notices that the recovery from the crisis has clearly started. The American company has seen a significant increase in the use of its credit cards in recent months, both for domestic and cross-border spending. That resulted in a 60 percent increase in profit compared to the third quarter a year earlier.

Net income rose from July to September this year to $2.4 billion (EUR 2.1 billion) from $1.5 billion a year earlier. Mastercard noticed that customers were going out more often. For example, there was more travel, more often eating out and more money was spent on other activities, helped by the roll-out of vaccines, making this more possible again. Revenue grew 30 percent year-over-year to $5 billion.

A year ago, corona measures ensured that less was possible. Also, at the time, people were more cautious about making unnecessary expenditures, which weighed on the results of Mastercard and other credit card companies.

Mastercard customers are using credit cards more often
Source link Mastercard customers are using credit cards more often

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