(MENAFN) MasterCard's CFO, Martina Hund-Mejean, stated that the company's net income in the fourth quarter increased to USD605 million, compared with USD19 million in 2011's same period, reported AP.
Hund-Mejean said that in the three months ended December 31, net revenue grew by 10 percent to USD1.90 billion.
The payments network is growing in Latin America, Asia, the Middle East and Africa, with the cash moved outside the US in 2012 growing by 23.5 percent on a US dollar basis, compared with a gain of 9.7 percent in the US.
The Purchase, N.Y.-based firm has been trying to increase its market share in the US credit card market, inking several partnership agreements with big consumer brands, such as InterContinental Hotel Group, Bass Pro Shops and Shell Oil.
As for the full year, the company's earnings stood at USD2.76 billion, while revenue was USD7.39 billion.
It is worth noting that in 2011's fourth quarter, MasterCard took a charge of about USD500 million, which covered the cost of a settlement with retailers over the fees they pay on credit card transactions.