MasterCard Quarterly Profit Rises 29%

MasterCard Inc (NYSE:MA), the world's second-largest debit and credit card company, posted a 29 percent rise in quarterly profit as customers swiped their cards more often.

The company's net income rose to $801 million, or 69 cents per share, in the fourth quarter ended Dec. 31 from $623 million, or 52 cents per share, a year earlier.

Net revenue rose 14 percent to $2.42 billion.

(Reporting by Amrutha Gayathri and Tanya Agrawal in Bengaluru; Editing by Saumyadeb Chakrabarty)