Visa sees card use rise in U.S.

Austin American-Statesman - - BUSINESS -

Visa Inc. said its third-quar­ter profit slipped 2 per­cent, hurt by a sharp drop in in­vest­ment in­come, but it beat an­a­lyst fore­casts on in­creased op­er­at­ing in­come and main­tained a strong fore­cast for its fis­cal year.

The San Fran­cisco com­pany, which says about 70 per­cent of all the trans­ac­tions it pro­cesses now in­volve ei­ther debit or pre­paid cards, said debit card use in the U.S. rose 19 per­cent to $352 bil­lion dur­ing the quar­ter. Credit card trans­ac­tions, which had fallen in re­cent quar­ters, re­bounded slightly, gain­ing 2.2 per­cent to $214 bil­lion.

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