Summary
Visa Inc. (V) filed an 8-K on November 23, 2022, to provide investors with updated preliminary volume and transaction data for October and November 2022. The report highlights continued year-over-year growth in U.S. payments volume, with both credit and debit segments showing positive trends. Notably, payments volume has also significantly surpassed pre-pandemic (2019) levels, indicating a robust recovery and expansion in domestic spending. Internationally, cross-border volume growth, excluding intra-Europe transactions, remains strong relative to 2019, though the pace has moderated slightly. Travel-related cross-border spending, both within and into the Asia Pacific region and into the U.S., shows improvement compared to pre-pandemic figures. The company also reported global processed transaction growth, reinforcing the overall positive operational trends. It's important to note that all reported figures from April 2022 onwards exclude operations in Russia.
Key Highlights
- 1U.S. payments volume for November 2022 increased 9% year-over-year (Credit +10%, Debit +8%).
- 2U.S. payments volume in November 2022 reached 147% of the 2019 pre-pandemic level.
- 3Global processed transactions grew 10% year-over-year in November 2022 and were 140% of 2019 levels.
- 4Cross-border volume excluding intra-Europe transactions was 133% of 2019 levels in November 2022.
- 5Travel-related cross-border volume into and from the Asia Pacific region continued to improve relative to 2019.
- 6Data presented is preliminary and excludes Russia-related volumes and transactions from April 2022 onwards.
- 7The company noted that changes in exchange rate calculations for constant-dollar growth could result in different prior period growth rates than previously reported, but this does not affect revenues.