Visa Says U.S. Spending on Cards Up Despite Drop in Jobless Aid
A customer uses a Visa Inc. card at a store in Burbank, California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Visa Inc. 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, the world’s largest payments network said Tuesday in a filing. Those increases offset an 8% decline in spending on credit cards during both months.