Strong Financial Performance
Second quarter net revenues were up 16% and adjusted net income up 12% versus a year ago on a non-GAAP currency-neutral basis. Operating income was up 17%.
Significant Partnerships and Expansions
Extended exclusive partnership with American Airlines, partnered with OnePay and Synchrony to launch a new credit card with Walmart, expanded relationship with Uber, and signed new agreements with PayPal in the U.S., U.K., and Germany.
Growth in Cross-Border Volume
Overall, cross-border volume increased 15% globally for the quarter, reflecting continued growth in both travel and non-travel related cross-border spending.
Value-Added Services Growth
Value Added Services & Solutions net revenue increased 22%, driven by consumer acquisition, engagement services, and security solutions.
Commercial Payments Expansion
Launching differentiated capabilities, scaling virtual card solutions, and expanding small business card distribution through new partnerships.