Visa and Mastercard both reported higher quarterly earnings as consumer spending and card payments stayed resilient across key markets.

Visa said fiscal fourth-quarter net revenue rose 12% to $10.7 billion, helped by growth in payments volume, cross-border payments and processed transactions.

Mastercard posted third-quarter net income of $3.9 billion on revenue of $8.6 billion, citing steady consumer and business outlays on its network.

Broad-based spending supports payment networks

Visa’s update pointed to continued healthy household demand in both discretionary and non-discretionary categories, with cross-border activity still a meaningful tailwind for travel spending and ecommerce.

Management highlighted that growth in processed transactions and volumes underpinned the 12% revenue increase in the quarter ended 30 September 2025.

External reporting also flagged cross-border volume growth of about 12%, keeping overall trends positive even as comparisons normalise.

Mastercard revenue mix benefits from value-added services

Mastercard said its results were driven by its core payment network and faster expansion in value-added services, including security and fraud tools, which delivered a 25% jump in net revenue.

Overall third-quarter sales rose 17% year on year to $8.6 billion, reflecting ongoing global consumer spending and stable business outlays across its platform.

Executives described spending conditions as healthy, with cross-border flows and travel-linked transactions remaining supportive.

Outlook watched as incentives and macro trends evolve

Analysts tracking the sector noted that card networks continue to convert stable credit card spending into earnings despite shifting client incentives and mixed regional signals.

Recent coverage suggested Visa’s beat was narrower than in prior quarters as cross-border growth moderated slightly, while Mastercard’s mix shift toward services is helping offset cyclical pressures.

 Investors are watching whether household demand, inflation trends and international travel keep retail spending and payments volume firm through year-end.