{"id":120086,"date":"2024-10-30T14:21:48","date_gmt":"2024-10-30T07:21:48","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=120086"},"modified":"2024-10-30T14:21:48","modified_gmt":"2024-10-30T07:21:48","slug":"visa-direct-transactions-leap-38-tokens-pass-11-5-billion","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=120086","title":{"rendered":"Visa Direct Transactions Leap 38%, Tokens Pass 11.5 Billion"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"pymnts-content2282460\">\n<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/usa.visa.com\/\" target=\"_blank\" rel=\"noopener\">Visa<\/a>\u2019s fiscal <\/span><span data-preserver-spaces=\"true\">fourth quarter<\/span><span data-preserver-spaces=\"true\"> results underscored the payment network\u2019s traction beyond card payments, as new payment flows <\/span><span data-preserver-spaces=\"true\">in particular<\/span><span data-preserver-spaces=\"true\"> gained momentum. Commentary from the call and <\/span><span data-preserver-spaces=\"true\">from<\/span><span data-preserver-spaces=\"true\"> the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/s1.q4cdn.com\/050606653\/files\/doc_financials\/2024\/q4\/Q4-2024-Earnings-Release_vF.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">earnings supplement and earnings release<\/span><\/a><span data-preserver-spaces=\"true\"> show that overall payments volume grew 8% year over year. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In the United States, payments volume grew 5%, and international payments volume grew 10%. <\/span><span data-preserver-spaces=\"true\">Cross-border<\/span><span data-preserver-spaces=\"true\"> volume, excluding <\/span><span data-preserver-spaces=\"true\">intra Europe<\/span><span data-preserver-spaces=\"true\">, rose 13%. In consumer payments, CEO <a href=\"https:\/\/www.linkedin.com\/in\/ryan-mcinerney-79838697\/\" target=\"_blank\" rel=\"noopener\">Ryan McInerney<\/a> detailed that Visa\u2019s credential count was up 7% year over year, to 4.6 billion, and has issued cumulatively 11.5 billion tokens.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cOur key business drivers were relatively stable compared to Q3,\u201d McInerney told analysts on the call. \u201cMore than 30% of our total transactions are tokenized.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He called out <\/span><span data-preserver-spaces=\"true\">account-to-account<\/span><span data-preserver-spaces=\"true\"> payments as an area of particular promise, where the firm is leveraging its \u201cbrand infrastructure and rules as well as consumer protections to enable simpler, safer and more secure <\/span><span data-preserver-spaces=\"true\">account to account<\/span><span data-preserver-spaces=\"true\"> payments.\u201d\u00a0 <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Visa A2A, he said \u201cis open to any eligible bank, <\/span><span data-preserver-spaces=\"true\">and<\/span><span data-preserver-spaces=\"true\"> open banking provider, and verified biller.<\/span><span data-preserver-spaces=\"true\"> Initially, this is targeted at bill payments, and we plan to launch in 2025 in the U.K.\u201d<\/span><\/p>\n<h2>Tap-to-Pay Growth<\/h2>\n<p><span data-preserver-spaces=\"true\">As has been the case with previous quarters, McInerney illustrated the continued embrace of <\/span><span data-preserver-spaces=\"true\">tap-to-pay<\/span><span data-preserver-spaces=\"true\"> transactions. \u201cTap to add card\u201d is now enabled by issuers in more than 15 countries across five regions, he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Tap-to-pay<\/span><span data-preserver-spaces=\"true\"> penetration globally, excluding the U.S., accounted for 82% of face-to-face transactions, up 6 points from 2023. <\/span><span data-preserver-spaces=\"true\">And in<\/span><span data-preserver-spaces=\"true\"> the U.S., he added, <\/span><span data-preserver-spaces=\"true\">it was at<\/span><span data-preserver-spaces=\"true\"> 54%, up 13 points from last year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">New flows revenues were up 22%, and Visa Direct transactions grew by 38% in the latest quarter to 2.8 billion. Commercial volumes were up 5%. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe finished the year with almost 10 billion Visa Direct transactions and $1.7 billion in commercial payments volume,\u201d he said.\u00a0 Commercial credentials grew at 18% year over year, significantly faster <\/span><span data-preserver-spaces=\"true\">the<\/span><span data-preserver-spaces=\"true\"> overall credentials growth rate. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With a nod toward <\/span><span data-preserver-spaces=\"true\">value-added<\/span><span data-preserver-spaces=\"true\"> services, he said that Visa\u2019s core banking and issuer processing platform, Pismo \u201chas a good pipeline and its solutions are resonating with clients, with nearly 12 billion API calls a month.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In his remarks to analysts, McInerney also <\/span><span data-preserver-spaces=\"true\">took note of<\/span> <a class=\"editor-rtfLink\" href=\"https:\/\/www.pymnts.com\/visa\/2024\/missing-pieces-what-the-doj-debit-interchange-lawsuit-against-visa-gets-wrong\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">the Department of Justice suit against the company,<\/span><\/a><span data-preserver-spaces=\"true\"> alleging a monopoly on debit cards<\/span><span data-preserver-spaces=\"true\">, stating,<\/span><span data-preserver-spaces=\"true\"> \u201cWe believe the lawsuit is meritless and shows a clear lack of understanding of the payments ecosystem in the United States.<\/span><span data-preserver-spaces=\"true\">\u00a0 We will defend ourselves vigorously and are confident in <\/span><span data-preserver-spaces=\"true\">our ability to demonstrate<\/span><span data-preserver-spaces=\"true\"> that Visa competes for every transaction in a thriving debit space that continues to grow and see new entrants.\u201d<\/span><\/p>\n<h2>Stable Consumer Spending<\/h2>\n<p><span data-preserver-spaces=\"true\">Drilling into the payments themselves, CFO <a href=\"https:\/\/www.linkedin.com\/in\/chrissuh\/\" target=\"_blank\" rel=\"noopener\">Chris Suh<\/a> said that during the quarter, credit and debit volumes each grew 5%<\/span><span data-preserver-spaces=\"true\">. Card<\/span><span data-preserver-spaces=\"true\"> present volume grew 2% and card-not-present volume grew 6%.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cConsumer <\/span><span data-preserver-spaces=\"true\">spend<\/span><span data-preserver-spaces=\"true\"> across all segments from low to high spend has remained relatively stable, [compared] to Q3. Our data does not indicate any meaningful behavior change across consumer segments from last quarter,\u201d he said.\u00a0 The fiscal fourth quarter <\/span><span data-preserver-spaces=\"true\">cross-border eCommerce<\/span><span data-preserver-spaces=\"true\"> measured as card-not-present volume, excluding travel and crypto purchases, grew 15%.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The CFO guided to expectations that payments volume and processed transaction growth will \u201cremain strong and generally in line with full year 2024 levels.\u201d\u00a0 In the current quarter, U.S. payments volume growth stands at around 6%, with debit up 7% and credit up 6% as compared to last year.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Investors sent Visa\u2019s stock higher by about 1.5% <\/span><span data-preserver-spaces=\"true\">in <\/span><span data-preserver-spaces=\"true\">after-hours<\/span><span data-preserver-spaces=\"true\"> trading.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Asked on the conference call about <\/span><span data-preserver-spaces=\"true\">account-to-account<\/span><span data-preserver-spaces=\"true\"> payments and the competitive environment \u2014and <\/span><span data-preserver-spaces=\"true\">with<\/span><span data-preserver-spaces=\"true\"> an analyst\u2019s <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.pymnts.com\/news\/faster-payments\/2024\/walmart-teams-with-fiserv-instant-bank-payments\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">mention of Walmart having<\/span><\/a><span data-preserver-spaces=\"true\"> enhanced those <\/span><span data-preserver-spaces=\"true\">offerings \u2014<\/span><span data-preserver-spaces=\"true\"> McInerney said, \u201cT<\/span><span data-preserver-spaces=\"true\">here\u2019s a lot going<\/span><span data-preserver-spaces=\"true\"> on, with <\/span><span data-preserver-spaces=\"true\">account-to-account<\/span><span data-preserver-spaces=\"true\"> payments in the U.S. and around the world. \u2026 Pay by bank is not a new capability. It\u2019s not a new capability in the United States. It\u2019s not a new capability for Walmart. <\/span><span data-preserver-spaces=\"true\">I think as<\/span><span data-preserver-spaces=\"true\"> of today, you can load three different bank accounts into your walmart.com wallet to pay for things. \u2026 We expect that account-to-account payments will continue to <\/span><span data-preserver-spaces=\"true\">proliferate<\/span><span data-preserver-spaces=\"true\"> here and around the world. We think there\u2019s a lot that we can add in terms of value to <\/span><span data-preserver-spaces=\"true\">account-to-account<\/span><span data-preserver-spaces=\"true\"> payments.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The CFPB\u2019s finalized rule on open banking also came up on the call. McInerney said <\/span><span data-preserver-spaces=\"true\">that the<\/span><span data-preserver-spaces=\"true\"> final rule is \u201clargely consistent with the CFPB\u2019s initial proposal. And, you know, we are strong advocates for consumers having more control and more access to their financial data, but ensuring that it\u2019s <\/span><span data-preserver-spaces=\"true\">in a safe and secure way<\/span><span data-preserver-spaces=\"true\">. We\u2019re still evaluating all <\/span><span data-preserver-spaces=\"true\">the details of<\/span><span data-preserver-spaces=\"true\"> the potential impacts <\/span><span data-preserver-spaces=\"true\">from<\/span><span data-preserver-spaces=\"true\"> the more detailed regulations across the industry. \u2026 What we found is that the Visa brand can be a meaningful differentiator, and the Visa brand can give confidence to end users and data providers.\u201d<\/span><\/p>\n<div id=\"bottom-ad\">\n<div data-pymnt-trackid=\"2052830\" data-pymnt-trackbid=\"1\" class=\"pymnt-target\" id=\"pymnt-1446480434\"><a data-no-instant=\"1\" href=\"https:\/\/www.pymnts.com\/subscribe\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"PYMNTS Newsletter Banner April 2024\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.pymnts.com\/wp-content\/uploads\/2024\/04\/2024-04-Banner-PYMNTS-NL.gif\" alt=\"\" width=\"1728\" height=\"345\"\/><\/a><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.pymnts.com\/visa\/2024\/visa-direct-transactions-leap-38-tokens-pass-11-5-billion-milestone\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Visa\u2019s fiscal fourth quarter results underscored the payment network\u2019s traction beyond card payments, as new payment flows in particular gained momentum. Commentary from the call and from the earnings supplement &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=120086\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-120086","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/120086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=120086"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/120086\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=120086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=120086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=120086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}