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…