The pandemic has forced companies to lay off workers by the millions, hurting their spending power, and the hit to air travel has also taken a toll on cross-border card transaction volumes. Mastercard reported a 36% drop in cross-border volume on a local currency basis in the reported quarter. Cross-border volumes have continued to fall since the quarter ended, with all first three weeks of October clocking declines of more than 30%, according to an investor presentation. …read more
Source:: Yahoo Finance
