Visa Sees International Travel Spending Unexpectedly Accelerate

Visa Inc. saw overseas spending on the firm’s cards unexpectedly accelerate in the first three months of the year, as the payments giant benefited from an increase in global travel.

Cross-border volume jumped 24% in the fiscal second quarter, topping the 20% average of analyst estimates compiled by Bloomberg. Overall volume on the firm’s cards rose 9% to $3.6 trillion, which was in line with what analysts estimated.