Visa profit beats Street on increased use of cards

(Reuters) - Visa Inc (NYS:V), the world's largest credit and debit card company, reported a better-than-expected 9 percent rise in quarterly profit as more people used cards instead of cash to make payments. Visa shares rose 3.2 percent in trading before the bell. The company also said it would continue to work to make card payments more secure as concerns mount over the safety of debit and credit cards. Last month Target Corp (TGT.N), the third-largest U.S. retailer, said about 40 million credit card records and 70 million other records containing data on its customers were stolen in a security breach.

via Business News - Yahoo Finance http://ift.tt/MkIUKv