Visa Q1 Led by Travel Surge, New Payment Volume


Visa reported fiscal first quarter results that showed continued strides in new payment flows, including Visa Direct and contactless payments.

Payments volume for the three months ending Dec. 31 increased 7% over the prior year on a constant-dollar basis.

Cross-border volume, excluding intra-Europe, was up 31%. As had been seen with payments network peer Mastercard, travel-related and cross-border spending saw a strong snapback amid a boost in travel.

Visa said in its supplemental filings that credit volumes, in constant dollar terms, was up 11%, to $1.5 trillion, outpacing debit, which grew 3%, to just under $1.5 trillion.

Total Visa card counts were up 8% year on year to 4.1 billion cards. The number of debit cards grew by 8%, outpacing credit card growth of 6%.

CEO Al Kelly, who, as reported last year is stepping down to be replaced by president Ryan McInerney, said that within consumer payments, credentials grew 11%, excluding Russia — “with strong double digit growth in the United States, India and Brazil.”

He noted that tap-to-pay penetration of face-to-face…

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