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MasterCard profit rises 21pc, beats estimates

MasterCard Inc, the world’s second-largest credit and debit card network, reported a 21 percent rise in quarterly profit as consumers spent more with their cards and revenue rose faster than expenses.

Cardholders made USD629 billion of purchases worldwide during the quarter, up 17 percent from a year earlier, the company said.

Card payments outside the United States grew 20.6 percent, based on local currencies, compared with 14 percent growth in the United States.