MasterCard Inc. and Visa Inc. on Wednesday reported higher spending on their U.S. debit and credit cards.
Visa said total payments made with its U.S. debit and credit cards rose 13%, between Nov. 1 and 28, from a year earlier.
Spending on the San Francisco payments network's credit cards grew 9%, while spending on its debit cards increased 17%. Cross-border payments volume also grew 17%, from a year earlier.
MasterCard reported that for the fourth quarter through Nov. 28, its processed payments volume for U.S. debit transactions rose about 25%, excluding portfolio deconversions.
Its processed volume for U.S. credit cards was up in the low single digits.
The Purchase, N.Y., network's cross-border payments volume was up about 19% from a year earlier, ahead of the 15% increase it experienced in the third quarter.
Globally, processed transaction growth was up about 6%, and about 18%, excluding deconversions.
