Through steady price increases, despite year after year of volume contraction net income has continued a seemingly inexorable ascent.

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American Express earns revenues from card licensing fees, royalties on billings, charge volume, net spread revenue and cards in force, foreign exchange conversion revenue and also a share of the discount revenue earned by the operator.

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Syria already spends considerably more on petroleum imports and on royalties to foreign operators than it earns from crude oil exports, and it is now on the point of becoming a net oil importer in volume terms as well.

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In the previous quarter, MasterCard reported strong results with over 22% increase in net revenues and 32% increase in net income driven by high gross dollar volume (GDV) and transactions processed.

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