Visa, the global payment technology company, has reported a remarkable surge in profit.

The company’s Q3 financial report, released on Tuesday, revealed a profit increase of 18%, significantly surpassing analysts’ projections. This substantial boost is attributed to the revival of international and domestic travel, as well as increased consumer spending.

Visa’s strong performance can be attributed to its adaptability during the pandemic, offering digital payment solutions that catered to the contactless and remote shopping trends. Furthermore, the resurgence of international tourism has led to a spike in cross-border transactions, further contributing to Visa’s impressive financial results.

The company remains optimistic about its future prospects, anticipating continued growth as the global economy stabilizes and consumer confidence returns. Visa’s success demonstrates the resilience of the payment technology sector in the face of unprecedented challenges.