30 Jan
by Vitaliy Dadalyan
The world’s largest payments network has been spending more on rewards and incentives such as airport lounge access, roadside assistance programs and travel insurance, which pushed up operating expenses to $2.04 billion in the three months ended Dec. 31. Earlier this month, Visa said it would buy fintech startup Plaid for $5.3 billion, as it seeks to expand into the digital and cashless economy. The company’s net revenue rose 10% to $6.05 billion in the first quarter, but missed analysts’ estimates of $6.08 billion, according to IBES estimates from Refinitiv.
