Mastercard profit jumps as stable spending drives transaction volumes

July 30 : Mastercard posted a rise in second-quarter profit on Thursday, boosted by robust transaction volumes driven by steady consumer spending. Shares of the company were up over 3 per cent in trading before the bell. Despite fears that geopolitical tensions and the resulting economic uncertainty would dent consumer appetite for spending, shoppers have shown resilience. The stable consumer behavior is supported by a still-strong labor market and continued wage growth, while transaction values have risen due to elevated inflation, triggered by the U.S.-Iran war-led oil spikes. High-income households are driving a bulk of the spending, as they continue to make discretionary purchases while lower-income families cut budgets. Mastercard's gross dollar volume - the value of all transactions