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Mastercard’s profit jumps nearly 20 pct

Mastercard Inc, the world’s second-biggest payments network, reported a nearly 20 percent jump in quarterly profit as people spent more using credit and debit cards.

The company’s net income rose to $1.18 billion, or $1.10 per share in the second quarter ended June 30, from $983 million, or 89 cents per share, a year earlier. http://mstr.cd/2vM9ioo

The Purchase, New York-based company’s revenue climbed 13.3 percent to $3.05 billion. (Reuters)

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