Mastercard reported a higher second-quarter profit due to resilient consumer spending, with gross dollar volume rising 9%. Consumer spending remains strong, supported by household confidence despite trade policy uncertainty. July saw continued robust spending, boosted by Amazon’s Prime Day and other sales. Net revenue for Mastercard jumped 17% to $8.1 billion, with net income rising to $3.7 billion. Visa also posted strong results this week, driven by card spending volumes. The payments processor’s performance reflects ongoing consumer confidence and spending habits.

Read more at Yahoo Finance: Mastercard quarterly profit rises on sturdy consumer spending