01—Abstract
Summary
Summary of the 8-K filed June 1, 2022. Cited figures are marked; the original filing is the authoritative source.
Visa Inc. (V) filed an 8-K on June 1, 2022, disclosing preliminary volume and transaction data for April and May 2022, with a significant note that results from March 2022 onwards exclude operations in Russia.
The report indicates continued year-over-year growth across key metrics like U.S. payments volume, cross-border volume, and processed transactions, generally outperforming 2021 levels. Compared to pre-pandemic (2019) levels, Visa demonstrates robust recovery. In May 2022, U.S. payments volume was 148%a of 2019 levels, consistent with April.
Cross-border volume, excluding intra-Europe, reached 127%b of 2019 levels, a notable improvement from April. Total cross-border volume also showed strength, hitting 136% of 2019 levels.
Global processed transactions were at 140%c of 2019 levels, slightly up from April. These figures suggest a strong rebound in consumer spending and international travel relative to the pre-COVID-19 era, even with the exclusion of Russian-related data.
02—Key points
Key Highlights
- Visa's April and May 2022 results exclude Russia-related volumes and transactions.
- U.S. Payments Volume in May 2022 was 148% of 2019 levels, consistent with April.
- Total Cross-Border Volume in May 2022 increased to 136% of 2019 levels, up from April.
- Cross-Border Volume Excluding Intra-Europe Transactions in May 2022 reached 127% of 2019 levels, a 10-point increase from April.
- Global Processed Transactions in May 2022 were 140% of 2019 levels, up 2 points from April.
- Year-over-year growth for U.S. Payments Volume was 12% in May, and 17% for Processed Transactions.
- The company highlights strong recoveries in inbound cross-border travel in the U.S. and Asia Pacific regions relative to 2019.
03—Questions
Frequently Asked Questions
What is the impact of Visa suspending operations in Russia on these results?
Visa announced in March 2022 that it was suspending operations in Russia. Consequently, the reported volume and transaction data for April and May 2022, as well as subsequent periods, do not include Russia-related volumes or transactions. Prior periods generally do include this data unless specifically noted otherwise.
How are Visa's payment volumes performing compared to pre-pandemic levels (2019)?
Visa's performance relative to 2019 levels shows a strong recovery. In May 2022, U.S. Payments Volume stood at 148% of 2019 levels, and global processed transactions were at 140% of 2019 levels. Cross-border volume, a key indicator for travel recovery, also showed significant strength, with total cross-border volume at 136% of 2019 levels.
Is there a recovery in international travel as indicated by the cross-border volume?
Yes, the data suggests a strong recovery in international travel. Cross-border volume excluding intra-Europe transactions improved significantly in May 2022, reaching 127% of 2019 levels, up 10 points from April. Total cross-border volume also increased. Visa specifically noted strong recoveries in inbound cross-border travel in the U.S. and Asia Pacific regions relative to 2019.
Are these results audited or subject to change?
The information provided in this 8-K filing is preliminary and has not been audited or reviewed by Visa's auditors. It is subject to change. Visa also includes standard cautionary statements about forward-looking statements and potential risks that could cause actual results to differ materially.
04—Continue