Shares of Visa and MasterCard fall sharply in price – card spending also declined


March 31, Fineko/abc.az. Visa Inc announced that the coronavirus pandemic has caused a sharp decline in cardholders' spending both inside and outside the country.

ABC.AZ reports that according to Visa’s statement, the effects of the virus we saw in February in Asia as the virus spread over the past few weeks are now being observed around the world. In connection with visits abroad, as well as within the country, there is a rapid decrease in expenditures.

The damage caused by coronavirus has not spared the shares of Visa and its competitor - MasterCard. So, shares of both companies around the world fell sharply due to the reduction in the cost of cards due to the fact that the government instructed consumers to stay at home and close facilities.

By Elmir Murad