Visa (V) posted strong June quarter earnings backed by 11% growth in global payment volumes on a constant dollar basis. The growth was in line with the expected numbers. The international payments volume expanded at a faster pace of 14%—compared to the US payment volume growth of 9%. US credit card growth was recorded at 12%—compared to the same quarter last year. It was flat compared to the previous quarter—mainly due to the completion of Chase’s conversion to Visa cards.
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