Diluted earnings per share stood at $6.23, up by 16%, from $5.36 per diluted share during the first quarter of 2012.

Net revenue for the first three months ended on 31 March 2013 stood at $1.9bn, with an increase of 8% from $1.8bn during the corresponding period a year ago.

The growth in revenue was boosted by 12% increase in gross dollar volume, on a local currency basis, to $947bn, an increase in cross-border volumes of 16% and growth in processed transactions of 12% to $8.7bn, partially offset by increase in rebates and incentives.

Worldwide purchase volume during the quarter was up by 10% to $690bn on a local currency basis, compared to $629bn during the comparable period earlier year.

Total operating expenses increased by 6%, to $799m, during the first quarter of 2013 compared to $758m during the year ago quarter, mainly backed by higher personnel expenses.

MasterCard operates a global payments processing network that connects consumers, financial institutions, merchants, governments and businesses in over 210 countries and territories.