Net operating revenue stood at $3bn, up by 17% compared to $2.56bn during the comparable period earlier year, backed by strong growth in service revenues, data processing revenues and international transaction revenues.

Data processing revenues rose 15% to $1.2bn, international transaction revenues grew 14% to $854m, while other revenues, which include the Visa Europe licensing fee, stood at $179m, compared to same period last fiscal.

For the three months ended on 30 June 2013, payments volume growth, on a constant dollar basis, was 13% over the prior year at $1.1trn, while cross-border volume growth, on a constant dollar basis, was 11%.

Total processed transactions, which represent transactions processed by VisaNet were 15.0 billion, a 14% increase over the prior year.

Offering secure and reliable electronic payments option, Visa connects consumers, businesses, financial institutions, and governments in over 200 nations and regions and has the capacity to execute more than 30,000 transaction messages a second.