Byron Pollitt, Visa Inc.'s chief financial officer, said debit transactions have made it "more resilient" to the U.S. economic slump.
The San Francisco company's payment volume grew about 10% last month from a year earlier, Mr. Pollitt said Tuesday during a presentation to analysts. There was "no material change" from its growth in spending and cash advances for March through July.
Since the company's initial public offering in March, Visa shares had climbed 59% as of Monday. Investors are betting the company can weather a U.S. slowdown as consumers rely more on debit cards to pay for gas and food.
Visa says it has three-quarters of the U.S. signature debit market.
