Visa Inc. said Monday that U.S. aggregate payments volume shrank 1% in August from a year earlier.

This was an improvement over July, when volume contracted 2%, the San Francisco company said.

U.S. credit payments volume shrank 10% in August, Visa said, after contracting 9% in July, and debit payments volume grew 7% last month, after climbing 4% the previous month.

Cross-border payments volume dropped 7% in August after declining 6% in July.

Processed transactions grew 9% last month, an improvement on July's 8% showing.

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