(Reuters) – Visa Inc reported higher expenses and lower spending by people using its cards abroad on Wednesday even as increased overall consumer spending drove quarterly profit 14 percent higher.
FILE PHOPTO: Security staff stand next to a Visa logo at Murtala Muhammed International Airport before the arrival of the Nigerian Women’s Bobsled Team, in Lagos, Nigeria, as part of preparations ahead of the 2018 Pyeongchang Winter Olympic Games, February 1, 2018. REUTERS/Afolabi Sotunde
Shares of the company were trading lower after the bell as investors worried over a slide in cross-border volume growth, which measures the value of transactions made on a Visa card outside a customer’s home country.
The company and its rival Mastercard had recently come under fire for charging high fees on