SAN FRANCISCO—Visa said overall spending on its cards by U.S. consumers climbed in July and August even after elevated unemployment benefits expired.
The spending on debit cards rose 26% in July and 24% in August compared with the same periods a year ago, reported Visa.
Cross-border volume has declined 31% so far in Visa’s fiscal fourth quarter, which ends Sept. 30, reported Bloomberg in its analysis.
While many countries had positive year-over-year domestic spending growth, only a few have seen cross-border travel-related spending improve as the majority of borders remain closed, noted Visa.