The profits of "Visa" and "MasterCard" jumped during the entire year of 2021 and the last quarter, due to the rise in electronic payments during the Corona pandemic period.

Visa earns $3.96 billion in 3 months

And the American financial services company Visa announced that its quarterly profits rose compared to the same period last year, attributing the reason to the boom in payments using credit cards.

The company's net profit was $3.96 billion in the three months ended December 31, the company announced Thursday.

The company's net revenue for the quarter rose 24.1 percent to $7.06 billion, compared to $5.69 billion last year.

Visa continues to benefit from a boom in online purchases, which are often paid for with credit cards.

In addition, as the tourism sector has recovered from the aftermath of the pandemic, international payments - such as flight or hotel reservations abroad - have also increased dramatically again.

The quarterly figures exceeded financial market expectations.

A jump in MasterCard profits

The US credit card company, MasterCard, announced, Thursday evening, that its fourth-quarter profit, and the entire year of 2021, exceeded most of the recently released data and also exceeded investor expectations.

The company's net profit for the full year was $8.7 billion, compared to $6.4 billion a year earlier. Profits amounted to $2.4 billion in the fourth quarter of last year, compared to $1.8 billion in the corresponding period a year ago.

"We are optimistic about the year ahead, as consumers, businesses and governments are better adapted to the changing environment," said MasterCard CEO Michael Maybach.

According to the company, revenue in the fourth quarter rose 26.8 percent to $5.2 billion, compared to $4.1 billion in the corresponding quarter of 2020.