SAN FRANCISCO – Visa Inc. reported yesterday that fiscal fourth quarter net income surged 14% on the basis of a continued double-digit growth in debit.
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The card giant reported the dollar volume of debit transactions for its branded cards rose almost 18% for the quarter, while the volume grew by almost 14%.
Total card transactions rose 9% for the quarter, compared to last year’s fourth quarter, to 13 billion.
As a result, fourth quarter revenues rose almost 13%, to $2.4 billion, and fiscal year revenues surged 14% to $9.2 billion.
