MasterCard has posted better-than-expected financial results for the second quarter.
The firm revealed a 2.7% increase in net revenue for the three months to the end of June, taking the figure to USD1.3 billion.
Net income climbed 26.4 per cent to USD349 million and the number of transactions handled by the firm rose 7.9% to 5.6 billion.
The company also reduced expenses by 13% to USD722 million, aided by a fall in marketing expenditure and reduced personnel costs.
“We are very pleased with our second-quarter financial performance and are adapting well to the challenging economic environment,” says Robert Selander, president and chief executive officer.
He added that MasterCard has had a “sharp focus” on managing expenses and will continue to benefit from the growing trend of business, governments and consumers to use electronic payments.
MasterCard recently partnered with Bancorp Bank to launch a new peer-to-peer payments platform in the US.
D.C.