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Mastercard beat Wall Street estimates for quarterly profit on Wednesday as customers spent more on its cards during the U.S. holiday shopping season, boosting fees for the world’s second-largest payment processor, according to Reuters.
The company’s gross dollar volume, the dollar value of transactions processed, rose 12% to $1.73 trillion in the fourth quarter.
U.S. retail sales, a measure of purchases at stores, restaurants and online, rose every month in the fourth quarter helped by a strong holiday shopping season, while wage gains and the labor market remained on solid footing.
Around 29.38 billion transactions were processed, a 19%…
Source cnbc.com