Visa Inc. Posts Strong Fiscal Second Quarter 2010 Earnings Results
- GAAP quarterly net income of $713 million or $0.96 per diluted class A common share
- Revenue growth of 19% as payments volumes and processed transactions improve globally
SAN FRANCISCO, April 28 /PRNewswire-FirstCall/ -- Visa Inc. (NYSE: V) today announced financial results for the Company's fiscal second quarter 2010 ended March 31, 2010. GAAP net income for the quarter was $713 million, or $0.96 per diluted class A common share. The weighted average number of diluted class A common shares outstanding was 742 million.
GAAP net operating revenue in the fiscal second quarter of 2010 was $2.0 billion, an increase of 19% over the prior year and driven by strong contributions across all revenue categories, in particular data processing and international transaction revenues.
"Visa delivered strong financial performance during our fiscal second quarter and we remain confident in delivering our guidance for fiscal year 2010," said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc. "Our performance was fueled by higher than expected payments volume growth. As I discussed at our recent Investor Day, we are increasingly optimistic that economic growth will gradually improve. At the same time, we remain diligent about how we manage our business and finances throughout the current economic environment."
"Visa's long term strategic goals and our ability to drive the migration to Visa products and services are based on our history of innovation and market responsiveness," added Saunders. "Our pending acquisition of CyberSource is the most recent example of the Company responding to market opportunities to fuel future growth. We remain focused on enhancing product offerings and providing new technologies to our clients and customers, while we continue to deliver value to our shareholders."
Fiscal Second Quarter 2010 Financial Highlights:
Payments volume growth, on a constant dollar basis for the three months ended December 31, 2009 on which fiscal second quarter service revenue is recognized, was a positive 8% over the prior year at $769 billion.
Payments volume growth, on a constant dollar basis, for the three months ended March 31, 2010, was a positive 13% over the prior year at $745 billion.
Cross border volume growth, on a constant dollar basis, was positive 12% for the three months ended March 31, 2010.
Total processed transactions, which represent transactions processed by VisaNet, for the three months ended March 31, 2010 totaled 10.6 billion, a 14% increase over the prior year.
For the fiscal second quarter 2010, service revenues were $885 million, an increase of 10% versus the prior year, and are recognized based on payments volume in the prior quarter. All other revenue categories are recognized based on current quarter activity. Data processing revenues rose 34% over the prior year to $728 million. International transaction revenues, which are driven by cross border payments volume, grew 22% over the prior year to $545 million. Other revenues, which include the Visa Europe licensing fee, were $173 million, up 17% over the prior year. Volume and support incentives, which are a contra revenue item, were $372 million, which represents 16% of gross revenue.
Total operating expenses on a GAAP basis were $837 million for the quarter, a 9% increase over the prior year.
Cash, cash equivalents, restricted cash, and available-for-sale investment securities were $6.3 billion at March 31, 2010.
Notable Events:
In October 2009, the Company announced that its Board of Directors authorized a $1.0 billion share repurchase plan through September 30, 2010, and is subject to change at the determination of Visa's Board of Directors. During the three months ended March 31, 2010, we repurchased 2.8 million shares of our outstanding class A common stock at an average price of $83.61 per share in the open market for a total cost of $231 million. During the six months ended March 31, 2010, we repurchased 8.3 million shares of our outstanding class A common stock at an average price of $80.40 per share in the open market for a total cost of $664 million. At March 31, 2010, the share repurchase plan has remaining authorized funds of $336 million.
As previously announced, the Board of Directors approved the release of additional class C shares. The number of shares released for any class C shareholder was the greater of (a) 50% (fifty percent) of the restricted class C shares held by that shareholder as of March 1, 2010, and (b) 5,000 (five thousand) class C shares. Under this program, 56 million shares of class C common stock were released from transfer restrictions during the second quarter of fiscal 2010. The release of the class C shares did not increase the number of outstanding shares on an as-converted basis, and there are no dilutive effects to the outstanding class A common stock share count on an as-converted basis from these transactions.
As previously announced, the Company has entered into a definitive agreement to acquire CyberSource Corporation ("CyberSource"), a leading provider of electronic payment, risk management and payment security solutions to online merchant, at a price of $26 per share, or total consideration of approximately $2.0 billion to be paid with cash on hand. With the addition of CyberSource, Visa will offer merchants and financial institutions eCommerce solutions that include enhanced online payment processing capabilities, payment routing, fraud protection services and secure data hosting. The transaction is subject to customary closing conditions, including approval by the stockholders of CyberSource and required regulatory approvals. The transaction, which has been approved by the Visa and CyberSource boards of directors, does not require a Visa shareholder vote, and is expected to close in Visa's fourth fiscal quarter of 2010.
Financial Outlook:
Visa Inc. updates its financial outlook for the following metrics for 2010:
- Annual net revenue growth: high end of the 11% to 15% range; and
- Volume and support incentives as a percent of gross revenues: high end of the 16% to 17% range.
Visa Inc. affirms its financial outlook for the following metrics through 2010:
- Advertising, marketing and promotion expenses: less than $1 billion;
- Annual operating margin: mid to high 50% range;
- GAAP tax rate: 36.5% to 38.5% range;
- Annual diluted class A common stock earnings per share: growth greater than 20%;
- Capital expenditures: about $200 million; and
- Annual free cash flow: in excess of $2 billion.
Visa Inc. affirms its financial outlook for the following metrics through 2011:
- Annual diluted class A common stock earnings per share: growth greater than 20%; and
- Annual free cash flow: in excess of $2 billion.
Fiscal Second Quarter 2010 Earnings Results Conference Call Details:
Visa's executive management team will host a live audio webcast beginning at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) today to discuss the financial results and business highlights.
All interested parties are invited to listen to the live webcast at http://investor.visa.com. A replay of the webcast will be available on the Visa Investor Relations website for 30 days.
Investor information, including supplemental financial information, is available on Visa Inc.'s Investor Relations website at http://investor.visa.com.
About Visa Inc.
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.
Forward Looking Statements:
Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. These statements can be identified by the terms "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will" and similar expressions which are intended to identify forward-looking statements. In addition, any underlying assumptions are forward-looking statements. Such forward-looking statements include but are not limited to statements regarding certain of Visa's goals and expectations with respect to earnings per share, revenue, operating margin, free cash flow, and the growth rate in those items, as well as other measures of economic performance.
By their nature, forward-looking statements: (i) speak only as of the date they are made, (ii) are not guarantees of future performance or results and (iii) are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from those forward-looking statements as a result of a variety of factors, including all the risks discussed under the heading "Risk Factors" in Part 1, Item 1A – "Risk Factors" in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Periodic Reports on Form 8-K, if any. You are cautioned not to place undue reliance on such statements, which speak only as of the date of this press release. Unless required to do so under U.S. federal securities laws or other applicable laws, we do not intend to update or revise any forward-looking statements.
Contacts: |
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Investor Relations: Jack Carsky or Victoria Hyde-Dunn, 415-932-2213, [email protected] |
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Media Relations: Paul Cohen or Will Valentine, 415-932-2564, [email protected] |
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Visa Inc. |
||||||||||
Selected Consolidated Statements of Operations |
||||||||||
(unaudited) |
||||||||||
Three Months Ended March 31, |
Six Months Ended March 31, |
|||||||||
2010 |
2009 |
2010 |
2009 |
|||||||
(in millions, except per share data) |
||||||||||
Operating Revenues |
||||||||||
Service revenues |
$ 885 |
$ 804 |
$ 1,712 |
1,597 |
||||||
Data processing revenues |
728 |
544 |
1,493 |
1,098 |
||||||
International transaction revenues |
545 |
446 |
1,097 |
951 |
||||||
Other revenues |
173 |
148 |
363 |
304 |
||||||
Volume and support incentives |
(372) |
(295) |
(746) |
(564) |
||||||
Total operating revenues |
1,959 |
1,647 |
3,919 |
3,386 |
||||||
Operating Expenses |
||||||||||
Personnel |
310 |
292 |
584 |
591 |
||||||
Network, EDP and communications |
98 |
92 |
203 |
185 |
||||||
Advertising, marketing and promotion |
238 |
196 |
454 |
406 |
||||||
Professional and consulting fees |
50 |
64 |
101 |
120 |
||||||
Depreciation and amortization |
62 |
56 |
124 |
108 |
||||||
Administrative and other |
77 |
66 |
155 |
129 |
||||||
Litigation provision |
2 |
- |
(41) |
- |
||||||
Total operating expenses |
837 |
766 |
1,580 |
1,539 |
||||||
Operating income |
1,122 |
881 |
2,339 |
1,847 |
||||||
Other Income (Expense) |
||||||||||
Equity in earnings of unconsolidated affiliates |
(2) |
1 |
(2) |
- |
||||||
Interest expense |
(28) |
(30) |
(44) |
(60) |
||||||
Investment income, net |
23 |
34 |
28 |
53 |
||||||
Other |
(2) |
1 |
- |
- |
||||||
Total other (expense) income |
(9) |
6 |
(18) |
(7) |
||||||
Income before income taxes |
1,113 |
887 |
2,321 |
1,840 |
||||||
Income tax expense |
401 |
352 |
846 |
731 |
||||||
Net income including non-controlling interest |
712 |
535 |
1,475 |
1,109 |
||||||
Loss attributable to non-controlling interest |
1 |
1 |
1 |
1 |
||||||
Net income attributable to Visa Inc. |
$ 713 |
$ 536 |
$ 1,476 |
$ 1,110 |
||||||
Basic earnings per share |
||||||||||
Class A common stock |
$ 0.97 |
$ 0.71 |
$ 1.99 |
$ 1.45 |
||||||
Class B common stock |
$ 0.56 |
$ 0.45 |
$ 1.16 |
$ 0.96 |
||||||
Class C common stock |
$ 0.97 |
$ 0.71 |
$ 1.99 |
$ 1.45 |
||||||
Basic weighted average shares outstanding |
||||||||||
Class A common stock |
472 |
447 |
470 |
447 |
||||||
Class B common stock |
245 |
246 |
245 |
246 |
||||||
Class C common stock |
122 |
152 |
125 |
152 |
||||||
Diluted earnings per share |
||||||||||
Class A common stock |
$ 0.96 |
$ 0.71 |
$ 1.99 |
$ 1.45 |
||||||
Class B common stock |
$ 0.56 |
$ 0.45 |
$ 1.16 |
$ 0.96 |
||||||
Class C common stock |
$ 0.96 |
$ 0.71 |
$ 1.99 |
$ 1.45 |
||||||
Diluted weighted average shares outstanding |
||||||||||
Class A common stock |
742 |
756 |
743 |
765 |
||||||
Class B common stock |
245 |
246 |
245 |
246 |
||||||
Class C common stock |
122 |
152 |
125 |
152 |
||||||
Visa Inc. |
|||||
Selected Consolidated Balance Sheets |
|||||
(unaudited) |
|||||
March 31, |
September 30, |
||||
2010 |
2009 |
||||
(in millions, except par value data) |
|||||
Assets |
|||||
Cash and cash equivalents |
$ 4,560 |
$ 4,617 |
|||
Restricted cash - litigation escrow |
1,365 |
1,365 |
|||
Investment securities |
|||||
Trading |
63 |
59 |
|||
Available-for-sale |
22 |
56 |
|||
Settlement receivable |
666 |
605 |
|||
Accounts receivable |
502 |
444 |
|||
Customer collateral |
842 |
812 |
|||
Current portion of volume and support incentives |
212 |
214 |
|||
Current portion of deferred tax assets |
470 |
703 |
|||
Prepaid expenses and other current assets |
413 |
366 |
|||
Total current assets |
9,115 |
9,241 |
|||
Restricted cash - litigation escrow |
210 |
350 |
|||
Investment securities, available-for-sale |
154 |
168 |
|||
Volume and support incentives |
129 |
102 |
|||
Property, equipment and technology, net |
1,183 |
1,204 |
|||
Other assets |
186 |
125 |
|||
Intangible assets |
10,883 |
10,883 |
|||
Goodwill |
10,208 |
10,208 |
|||
Total assets |
$ 32,068 |
$ 32,281 |
|||
Liabilities |
|||||
Accounts payable |
$ 78 |
$ 156 |
|||
Settlement payable |
618 |
634 |
|||
Customer collateral |
842 |
812 |
|||
Accrued compensation and benefits |
276 |
396 |
|||
Volume and support incentives |
343 |
284 |
|||
Accrued liabilities |
698 |
754 |
|||
Current portion of long-term debt |
12 |
12 |
|||
Current portion of accrued litigation |
670 |
1,394 |
|||
Total current liabilities |
3,537 |
4,442 |
|||
Long-term debt |
38 |
44 |
|||
Accrued litigation |
196 |
323 |
|||
Deferred tax liabilities |
3,808 |
3,807 |
|||
Other liabilities |
502 |
472 |
|||
Total liabilities |
8,081 |
9,088 |
|||
Equity |
|||||
Preferred stock, $0.0001 par value, 25 shares authorized and none issued |
$ - |
$ - |
|||
Class A common stock, $0.0001 par value, 2,001,622 shares authorized, 494 and 470 shares issued and outstanding at March 31, 2010, and September 30, 2009, respectively |
- |
- |
|||
Class B common stock, $0.0001 par value, 622 shares authorized, 245 shares issued and outstanding at March 31, 2010, and September 30, 2009 |
- |
- |
|||
Class C common stock, $0.0001 par value, 1,097 shares authorized, 100 and 131 shares issued and outstanding at March 31, 2010, and September 30, 2009, respectively |
- |
- |
|||
Additional paid-in capital |
20,883 |
21,160 |
|||
Class C treasury stock |
- |
(2) |
|||
Accumulated income |
3,199 |
2,219 |
|||
Accumulated other comprehensive loss, net |
|||||
Investment securities, available for sale |
9 |
10 |
|||
Defined benefit pension and other postretirement plans |
(71) |
(136) |
|||
Derivative instruments |
(39) |
(58) |
|||
Foreign currency translation gain (loss) |
2 |
(4) |
|||
Total accumulated other comprehensive loss, net |
(99) |
(188) |
|||
Total Visa Inc. stockholders' equity |
23,983 |
23,189 |
|||
Non-controlling interest |
4 |
4 |
|||
Total equity |
$ 23,987 |
$ 23,193 |
|||
Total liabilities and equity |
$ 32,068 |
$ 32,281 |
|||
Visa Inc. |
||||||
Consolidated Statements Of Cash Flows |
||||||
(unaudited) |
||||||
Six Months Ended March 31, |
||||||
2010 |
2009 |
|||||
(in millions) |
||||||
Operating Activities |
||||||
Net income including non-controlling interest |
$ 1,475 |
$ 1,109 |
||||
Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities: |
||||||
Depreciation and amortization of property, equipment and technology |
124 |
108 |
||||
Share-based compensation |
61 |
64 |
||||
Tax benefit for share-based compensation |
(8) |
(6) |
||||
Restricted stock instruments settled in cash for taxes |
(12) |
(22) |
||||
Interest earned on litigation escrow, net of tax |
- |
(12) |
||||
Net recognized (gain) loss on investment securities, including other-than-temporary impairment |
(14) |
8 |
||||
Asset impairment |
1 |
3 |
||||
Gain on disposal of property, equipment and technology |
(1) |
- |
||||
Amortization of volume and support incentives |
746 |
564 |
||||
Accrued litigation and accretion |
(25) |
48 |
||||
Equity in earnings of unconsolidated affiliates |
2 |
- |
||||
Deferred income taxes |
185 |
338 |
||||
Change in operating assets and liabilities: |
||||||
Trading securities |
(4) |
17 |
||||
Accounts receivable |
(58) |
(30) |
||||
Settlement receivable |
(61) |
252 |
||||
Volume and support incentives |
(712) |
(464) |
||||
Other assets |
(141) |
(9) |
||||
Accounts payable |
(78) |
(87) |
||||
Settlement payable |
(16) |
(335) |
||||
Accrued compensation and benefits |
(120) |
(146) |
||||
Accrued and other liabilities |
62 |
80 |
||||
Accrued litigation |
(826) |
(1,062) |
||||
Net cash provided by operating activities |
580 |
418 |
||||
Investing Activities |
||||||
Investment securities, available-for-sale: |
||||||
Purchases |
(1) |
- |
||||
Proceeds from sales and maturities |
45 |
252 |
||||
Distribution from money market investment |
85 |
840 |
||||
Purchases of / contributions to other investments |
(1) |
(1) |
||||
Proceeds from sale of other investment |
1 |
- |
||||
Dividends/distributions from other investments |
1 |
1 |
||||
Proceeds from disposal property, equipment and technology |
1 |
- |
||||
Purchases of property, equipment and technology |
(79) |
(136) |
||||
Net cash provided by investing activities |
52 |
956 |
||||
Financing Activities |
||||||
Tax benefit for share-based compensation |
8 |
6 |
||||
Cash proceeds from exercise of stock options |
21 |
2 |
||||
Funding of litigation escrow account - Retrospective Responsibility Plan |
- |
(1,100) |
||||
Payments from litigation escrow account - Retrospective Responsibility Plan |
140 |
939 |
||||
Payment for redemption of stock |
- |
(2,646) |
||||
Dividends paid |
(185) |
(161) |
||||
Principal payments on debt |
(6) |
(4) |
||||
Principal payments on capital lease obligations |
(9) |
(4) |
||||
Repurchase of class A common stock |
(664) |
- |
||||
Net cash used in financing activities |
(695) |
(2,968) |
||||
Effect of exchange rate changes on cash and cash equivalents |
6 |
(22) |
||||
Decrease in cash and cash equivalents |
(57) |
(1,616) |
||||
Cash and cash equivalents at beginning of year |
4,617 |
4,979 |
||||
Cash and cash equivalents at end of period |
$ 4,560 |
$ 3,363 |
||||
Supplemental Disclosure of Cash Flow Information |
||||||
Income taxes paid, net of refunds |
$ 759 |
$ 324 |
||||
Amounts included in accounts payable and accrued and other liabilities related to purchases of property, equipment and technology |
$ 10 |
$ 41 |
||||
Interest payments on debt |
$ 2 |
$ 2 |
||||
Assets acquired in joint venture with note payable and equity interest issued |
$ - |
$ 22 |
||||
Fiscal 2009 and 2010 Quarterly Results of Operations |
|||||||||||||
US$ in millions |
|||||||||||||
Fiscal 2009 Quarter Ended |
Fiscal 2010 Quarter Ended |
||||||||||||
December 31, 2008 |
March 31, 2009 |
June 30, 2009 |
September 30, 2009 |
December 31, 2009 |
March 31, 2010 |
||||||||
(unaudited) |
(unaudited) |
(unaudited) |
(unaudited) |
(unaudited) |
(unaudited) |
||||||||
Operating Revenues |
|||||||||||||
Service revenues |
$ 793 |
$ 804 |
$ 769 |
$ 808 |
$ 827 |
$ 885 |
|||||||
Data processing revenues |
554 |
544 |
605 |
727 |
765 |
728 |
|||||||
International transaction revenues |
505 |
446 |
458 |
507 |
552 |
545 |
|||||||
Other revenues |
156 |
148 |
158 |
163 |
190 |
173 |
|||||||
Volume and support incentives |
(269) |
(295) |
(344) |
(326) |
(374) |
(372) |
|||||||
Total operating revenues |
1,739 |
1,647 |
1,646 |
1,879 |
1,960 |
1,959 |
|||||||
Operating Expenses |
|||||||||||||
Personnel (1) |
299 |
292 |
282 |
355 |
274 |
310 |
|||||||
Network, EDP and communications |
93 |
92 |
97 |
111 |
105 |
98 |
|||||||
Advertising, marketing and promotion |
210 |
196 |
229 |
283 |
216 |
238 |
|||||||
Professional and consulting fees (1) |
56 |
64 |
62 |
86 |
51 |
50 |
|||||||
Depreciation and amortization |
52 |
56 |
57 |
61 |
62 |
62 |
|||||||
Administrative and other |
63 |
66 |
96 |
113 |
78 |
77 |
|||||||
Litigation provision |
- |
- |
1 |
1 |
(43) |
2 |
|||||||
Total operating expenses |
773 |
766 |
824 |
1,010 |
743 |
837 |
|||||||
Operating income |
966 |
881 |
822 |
869 |
1,217 |
1,122 |
|||||||
Other Income (Expense) |
|||||||||||||
Equity in earnings of unconsolidated affiliates |
(1) |
1 |
- |
- |
- |
(2) |
|||||||
Interest expense |
(30) |
(30) |
(30) |
(25) |
(16) |
(28) |
|||||||
Investment income, net |
19 |
34 |
504 |
18 |
5 |
23 |
|||||||
Other |
(1) |
1 |
1 |
1 |
2 |
(2) |
|||||||
Total other (expense) income |
(13) |
6 |
475 |
(6) |
(9) |
(9) |
|||||||
Income before income taxes |
953 |
887 |
1,297 |
863 |
1,208 |
1,113 |
|||||||
Income tax expense |
379 |
352 |
568 |
349 |
445 |
401 |
|||||||
Net income including non-controlling interest |
574 |
535 |
729 |
514 |
763 |
712 |
|||||||
Loss attributable to non-controlling interest (2) |
- |
1 |
- |
- |
- |
1 |
|||||||
Net income attributable to Visa Inc. |
$ 574 |
$ 536 |
$ 729 |
$ 514 |
$ 763 |
$ 713 |
|||||||
(1) Certain reclassifications, not affecting net income attributable to Visa, have been made to fiscal 2009 quarterly information to conform to the current period presentation format, including the reclassification of contractor expense, which was previously reported in professional and consulting fees, to personnel. |
|||||||||||||
(2) The Company began to report non-controlling interest (previously referred to as minority interest) as a component of equity in the first quarter of fiscal 2010 and has updated all requisite financial statements, including the statement of operations, for all comparable periods presented as required under Accounting Standards Codification 810. |
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Operational Performance Data
The tables below provide information regarding the available operational results for the 3 months ended March 31, 2010, as well as the prior seven quarterly reporting periods and the 12 months ended March 31, 2010 and 2009, for cards carrying the Visa, Visa Electron and Interlink brands.
1. Branded Volume and Transactions
The tables present total volume, payments volume, and cash volume, and the number of payments transactions, cash transactions, accounts and cards for cards carrying the Visa, Visa Electron and Interlink brands. Card counts include PLUS proprietary cards. Nominal and constant dollar growth rates over prior years are provided for volume-based data.
For the 3 Months Ended March 31, 2010 |
||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
||
All Visa Credit & Debit |
||||||||||||
Asia Pacific |
$296 |
29.2% |
12.3% |
$193 |
31.6% |
13.1% |
2,472 |
$102 |
24.9% |
10.9% |
556 |
|
Canada |
48 |
33.4% |
8.2% |
44 |
37.2% |
11.2% |
378 |
4 |
3.1% |
-16.4% |
8 |
|
CEMEA |
141 |
30.2% |
18.3% |
23 |
32.3% |
17.6% |
357 |
118 |
29.8% |
18.4% |
770 |
|
LAC |
174 |
35.7% |
15.5% |
58 |
38.5% |
20.4% |
1,431 |
116 |
34.4% |
13.2% |
808 |
|
US |
518 |
10.8% |
10.8% |
427 |
12.7% |
12.7% |
8,554 |
91 |
2.7% |
2.7% |
755 |
|
Visa Inc. |
1,176 |
21.5% |
12.6% |
745 |
20.8% |
13.4% |
13,193 |
431 |
22.7% |
11.2% |
2,897 |
|
Visa Credit Programs |
||||||||||||
US |
$196 |
0.3% |
0.3% |
$182 |
3.4% |
3.4% |
2,115 |
$14 |
-27.6% |
-27.6% |
17 |
|
Rest of World |
305 |
29.4% |
11.1% |
266 |
30.8% |
12.3% |
3,440 |
39 |
20.4% |
3.3% |
142 |
|
Visa Inc. |
501 |
16.2% |
6.6% |
449 |
18.1% |
8.5% |
5,554 |
52 |
2.5% |
-7.2% |
159 |
|
Visa Debit Programs |
||||||||||||
US |
$322 |
18.4% |
18.4% |
$245 |
20.9% |
20.9% |
6,440 |
$77 |
11.0% |
11.0% |
738 |
|
Rest of World |
353 |
33.2% |
16.8% |
51 |
50.2% |
27.0% |
1,199 |
302 |
30.6% |
15.2% |
2,000 |
|
Visa Inc. |
675 |
25.7% |
17.5% |
296 |
25.1% |
21.9% |
7,639 |
379 |
26.1% |
14.4% |
2,738 |
|
For the 3 Months Ended December 31, 2009 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$318 |
30.6% |
19.0% |
$197 |
22.1% |
10.1% |
2,541 |
$121 |
47.4% |
36.8% |
570 |
442 |
531 |
|
Canada |
51 |
18.9% |
0.7% |
47 |
22.4% |
3.7% |
430 |
4 |
-11.3% |
-24.9% |
9 |
24 |
31 |
|
CEMEA |
146 |
7.5% |
7.7% |
23 |
16.2% |
9.0% |
353 |
124 |
6.1% |
7.5% |
794 |
192 |
196 |
|
LAC |
191 |
33.0% |
13.0% |
64 |
37.5% |
16.0% |
1,516 |
127 |
30.9% |
11.4% |
873 |
331 |
359 |
|
US |
531 |
5.1% |
5.1% |
438 |
7.2% |
7.2% |
8,752 |
92 |
-4.1% |
-4.1% |
781 |
511 |
690 |
|
Visa Inc. |
1,237 |
15.5% |
9.7% |
769 |
14.0% |
8.5% |
13,593 |
468 |
18.1% |
11.7% |
3,026 |
1,500 |
1,808 |
|
Visa Credit Programs |
||||||||||||||
US |
$215 |
-6.9% |
-6.9% |
$201 |
-1.1% |
-1.1% |
2,372 |
$14 |
-49.8% |
-49.8% |
19 |
227 |
297 |
|
Rest of World |
317 |
19.2% |
6.4% |
278 |
21.8% |
8.2% |
3,611 |
39 |
3.6% |
-5.0% |
141 |
425 |
488 |
|
Visa Inc. |
531 |
7.1% |
0.6% |
478 |
11.0% |
4.1% |
5,983 |
53 |
-19.2% |
-23.1% |
160 |
653 |
784 |
|
Visa Debit Programs |
||||||||||||||
US |
$316 |
15.2% |
15.2% |
$238 |
15.4% |
15.4% |
6,380 |
$78 |
14.5% |
14.5% |
762 |
283 |
394 |
|
Rest of World |
390 |
29.7% |
19.8% |
53 |
40.3% |
21.7% |
1,230 |
337 |
28.2% |
19.5% |
2,104 |
564 |
630 |
|
Visa Inc. |
706 |
22.8% |
17.7% |
291 |
19.3% |
16.5% |
7,610 |
416 |
25.4% |
18.5% |
2,866 |
847 |
1,024 |
|
For the 3 Months Ended September 30, 2009 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$281 |
12.5% |
10.6% |
$183 |
12.0% |
8.8% |
2,475 |
$98 |
13.4% |
14.0% |
534 |
433 |
522 |
|
Canada |
48 |
-3.3% |
-3.1% |
44 |
-1.0% |
-0.8% |
412 |
4 |
-23.1% |
-22.9% |
9 |
24 |
31 |
|
CEMEA |
134 |
-7.1% |
4.3% |
21 |
-1.8% |
2.6% |
320 |
113 |
-8.1% |
4.6% |
738 |
187 |
190 |
|
LAC |
166 |
4.6% |
11.4% |
55 |
9.1% |
14.7% |
1,366 |
111 |
2.6% |
9.8% |
815 |
323 |
350 |
|
US |
510 |
-2.8% |
-2.8% |
417 |
-1.0% |
-1.0% |
8,400 |
93 |
-10.2% |
-10.2% |
787 |
496 |
674 |
|
Visa Inc. |
1,140 |
1.0% |
3.0% |
720 |
2.7% |
2.6% |
12,973 |
419 |
-1.7% |
3.7% |
2,883 |
1,463 |
1,766 |
|
Visa Credit Programs |
||||||||||||||
US |
$210 |
-14.3% |
-14.3% |
$195 |
-8.6% |
-8.6% |
2,299 |
$16 |
-51.6% |
-51.6% |
21 |
230 |
302 |
|
Rest of World |
295 |
5.1% |
4.9% |
258 |
7.8% |
6.5% |
3,474 |
37 |
-10.1% |
-4.7% |
140 |
423 |
485 |
|
Visa Inc. |
505 |
-3.9% |
-4.0% |
452 |
0.0% |
-0.6% |
5,773 |
53 |
-28.3% |
-25.9% |
161 |
652 |
787 |
|
Visa Debit Programs |
||||||||||||||
US |
$300 |
7.2% |
7.2% |
$223 |
6.8% |
6.8% |
6,100 |
$77 |
8.4% |
8.4% |
766 |
266 |
372 |
|
Rest of World |
334 |
3.8% |
11.3% |
45 |
11.8% |
16.5% |
1,100 |
289 |
2.6% |
10.5% |
1,957 |
544 |
608 |
|
Visa Inc. |
634 |
5.4% |
9.3% |
268 |
7.6% |
8.3% |
7,200 |
366 |
3.8% |
10.1% |
2,722 |
810 |
979 |
|
For the 3 Months Ended June 30, 2009 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$259 |
3.7% |
10.3% |
$165 |
2.0% |
8.4% |
2,315 |
$94 |
6.9% |
13.7% |
540 |
424 |
512 |
|
Canada |
45 |
-11.5% |
-3.7% |
41 |
-9.8% |
-1.8% |
396 |
4 |
-25.1% |
-18.5% |
9 |
23 |
31 |
|
CEMEA |
123 |
-6.4% |
9.8% |
20 |
2.8% |
12.3% |
324 |
103 |
-8.0% |
9.3% |
736 |
179 |
184 |
|
LAC |
150 |
-2.8% |
15.3% |
49 |
-0.4% |
16.3% |
1,302 |
101 |
-3.9% |
14.8% |
798 |
317 |
344 |
|
US |
506 |
-3.9% |
-3.9% |
412 |
-2.5% |
-2.5% |
8,288 |
93 |
-9.5% |
-9.5% |
778 |
483 |
661 |
|
Visa Inc. |
1,083 |
-2.7% |
3.1% |
687 |
-1.7% |
1.5% |
12,625 |
396 |
-4.4% |
6.0% |
2,861 |
1,426 |
1,732 |
|
Visa Credit Programs |
||||||||||||||
US |
$209 |
-15.0% |
-15.0% |
$192 |
-9.6% |
-9.6% |
2,282 |
$17 |
-49.2% |
-49.2% |
21 |
233 |
309 |
|
Rest of World |
269 |
-3.1% |
5.1% |
234 |
-1.5% |
6.1% |
3,283 |
35 |
-12.1% |
-1.6% |
137 |
418 |
482 |
|
Visa Inc. |
479 |
-8.7% |
-4.8% |
426 |
-5.3% |
-1.6% |
5,566 |
52 |
-29.0% |
-24.6% |
159 |
651 |
791 |
|
Visa Debit Programs |
||||||||||||||
US |
$296 |
5.9% |
5.9% |
$220 |
4.6% |
4.6% |
6,006 |
$76 |
9.7% |
9.7% |
757 |
250 |
352 |
|
Rest of World |
308 |
-0.3% |
15.1% |
41 |
7.2% |
23.0% |
1,054 |
267 |
-1.3% |
14.0% |
1,946 |
526 |
589 |
|
Visa Inc. |
604 |
2.6% |
10.4% |
261 |
5.0% |
7.1% |
7,059 |
343 |
0.9% |
13.0% |
2,702 |
776 |
941 |
|
For the 3 Months Ended March 31, 2009 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$229 |
-6.5% |
10.2% |
$147 |
-7.8% |
9.3% |
2,176 |
$82 |
-4.2% |
12.1% |
545 |
420 |
506 |
|
Canada |
36 |
-23.3% |
-0.8% |
32 |
-22.2% |
0.5% |
347 |
4 |
-30.6% |
-10.3% |
9 |
23 |
31 |
|
CEMEA |
108 |
-4.8% |
20.0% |
17 |
-0.4% |
20.3% |
294 |
91 |
-5.6% |
19.9% |
666 |
178 |
182 |
|
LAC |
128 |
-10.3% |
16.3% |
42 |
-9.3% |
15.8% |
1,283 |
86 |
-10.7% |
16.5% |
775 |
313 |
341 |
|
US |
468 |
-4.3% |
-4.3% |
379 |
-2.5% |
-2.5% |
7,511 |
89 |
-11.1% |
-11.1% |
708 |
482 |
664 |
|
Visa Inc. |
969 |
-6.5% |
4.4% |
617 |
-5.5% |
2.3% |
11,611 |
352 |
-8.4% |
8.2% |
2,703 |
1,417 |
1,723 |
|
Visa Credit Programs |
||||||||||||||
US |
$196 |
-15.5% |
-15.5% |
$176 |
-9.7% |
-9.7% |
2,084 |
$19 |
-47.0% |
-47.0% |
22 |
240 |
318 |
|
Rest of World |
236 |
-11.9% |
6.8% |
204 |
-11.0% |
7.4% |
3,105 |
32 |
-17.7% |
2.8% |
131 |
418 |
480 |
|
Visa Inc. |
431 |
-13.6% |
-3.8% |
380 |
-10.4% |
-0.6% |
5,189 |
51 |
-31.7% |
-21.9% |
153 |
658 |
797 |
|
Visa Debit Programs |
||||||||||||||
US |
$272 |
5.8% |
5.8% |
$202 |
4.7% |
4.7% |
5,426 |
$70 |
9.1% |
9.1% |
686 |
243 |
347 |
|
Rest of World |
265 |
-5.4% |
18.7% |
34 |
-2.5% |
25.2% |
996 |
231 |
-5.8% |
17.7% |
1,864 |
517 |
579 |
|
Visa Inc. |
537 |
0.0% |
12.2% |
237 |
3.6% |
7.7% |
6,422 |
301 |
-2.7% |
15.8% |
2,550 |
759 |
926 |
|
For the 3 Months Ended December 31, 2008 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$243 |
1.1% |
11.5% |
$161 |
2.1% |
12.6% |
2,227 |
$82 |
-0.9% |
9.4% |
533 |
414 |
501 |
|
Canada |
43 |
-16.3% |
2.1% |
38 |
-15.4% |
3.2% |
395 |
4 |
-23.5% |
-6.6% |
9 |
23 |
30 |
|
CEMEA |
136 |
18.5% |
34.2% |
20 |
11.9% |
30.1% |
306 |
117 |
19.7% |
35.0% |
708 |
174 |
179 |
|
LAC |
144 |
-1.2% |
22.0% |
47 |
-0.4% |
22.0% |
1,344 |
97 |
-1.6% |
22.0% |
848 |
312 |
340 |
|
US |
505 |
-1.9% |
-1.9% |
409 |
-1.0% |
-1.0% |
7,831 |
96 |
-5.3% |
-5.3% |
711 |
487 |
668 |
|
Visa Inc. |
1,071 |
0.4% |
8.1% |
675 |
-0.9% |
4.7% |
12,102 |
397 |
2.6% |
14.2% |
2,809 |
1,409 |
1,718 |
|
Visa Credit Programs |
||||||||||||||
US |
$231 |
-9.0% |
-9.0% |
$203 |
-6.9% |
-6.9% |
2,380 |
$28 |
-21.7% |
-21.7% |
28 |
258 |
335 |
|
Rest of World |
266 |
-2.3% |
11.2% |
228 |
-1.6% |
11.5% |
3,228 |
37 |
-5.9% |
9.4% |
148 |
415 |
478 |
|
Visa Inc. |
496 |
-5.5% |
1.4% |
431 |
-4.2% |
2.5% |
5,608 |
65 |
-13.4% |
-5.8% |
176 |
673 |
813 |
|
Visa Debit Programs |
||||||||||||||
US |
$275 |
5.0% |
5.0% |
$206 |
5.6% |
5.6% |
5,451 |
$69 |
3.4% |
3.4% |
683 |
229 |
333 |
|
Rest of World |
301 |
7.1% |
24.4% |
38 |
5.9% |
28.6% |
1,043 |
263 |
7.3% |
23.7% |
1,949 |
507 |
572 |
|
Visa Inc. |
575 |
6.1% |
14.7% |
244 |
5.6% |
9.0% |
6,494 |
331 |
6.5% |
19.2% |
2,633 |
737 |
905 |
|
For the 3 Months Ended September 30, 2008 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$250 |
16.4% |
19.9% |
$163 |
16.3% |
19.8% |
2,144 |
$87 |
16.6% |
20.0% |
525 |
400 |
480 |
|
Canada |
50 |
5.5% |
9.1% |
44 |
6.9% |
10.6% |
395 |
5 |
-4.9% |
-1.6% |
9 |
24 |
32 |
|
CEMEA |
144 |
43.4% |
42.5% |
21 |
38.6% |
40.6% |
280 |
123 |
44.3% |
42.9% |
671 |
169 |
176 |
|
LAC |
159 |
31.3% |
27.0% |
51 |
32.9% |
28.7% |
1,237 |
108 |
30.5% |
26.2% |
798 |
301 |
334 |
|
US |
525 |
7.3% |
7.3% |
421 |
8.6% |
8.6% |
7,688 |
104 |
2.4% |
2.4% |
745 |
474 |
651 |
|
Visa Inc. |
1,128 |
16.0% |
15.9% |
701 |
12.5% |
13.2% |
11,744 |
427 |
22.2% |
21.0% |
2,748 |
1,368 |
1,673 |
|
Visa Credit Programs |
||||||||||||||
US |
$245 |
2.0% |
2.0% |
$213 |
3.5% |
3.5% |
2,367 |
$32 |
-7.0% |
-7.0% |
30 |
263 |
336 |
|
Rest of World |
280 |
15.6% |
17.9% |
239 |
16.1% |
18.7% |
3,115 |
41 |
12.9% |
13.6% |
153 |
410 |
473 |
|
Visa Inc. |
526 |
8.9% |
9.9% |
452 |
9.8% |
11.1% |
5,482 |
74 |
3.2% |
3.3% |
183 |
672 |
809 |
|
Visa Debit Programs |
||||||||||||||
US |
$280 |
12.4% |
12.4% |
$208 |
14.3% |
14.3% |
5,321 |
$71 |
7.3% |
7.3% |
714 |
211 |
314 |
|
Rest of World |
322 |
33.8% |
32.5% |
41 |
37.5% |
37.6% |
941 |
282 |
33.3% |
31.7% |
1,851 |
484 |
549 |
|
Visa Inc. |
602 |
22.9% |
22.0% |
249 |
17.5% |
17.4% |
6,262 |
353 |
27.1% |
25.6% |
2,565 |
695 |
863 |
|
For the 3 Months Ended June 30, 2008 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$250 |
24.3% |
21.4% |
$162 |
22.4% |
19.1% |
2,032 |
$88 |
28.0% |
25.8% |
498 |
387 |
472 |
|
Canada |
51 |
14.3% |
10.3% |
45 |
14.5% |
10.4% |
383 |
6 |
13.0% |
9.0% |
9 |
24 |
31 |
|
CEMEA |
131 |
45.8% |
38.8% |
19 |
37.8% |
36.4% |
255 |
112 |
47.2% |
39.2% |
640 |
159 |
168 |
|
LAC |
155 |
35.4% |
23.1% |
50 |
40.3% |
27.5% |
1,160 |
105 |
33.2% |
21.1% |
754 |
303 |
328 |
|
US |
526 |
8.8% |
8.8% |
423 |
9.8% |
9.8% |
7,667 |
103 |
4.9% |
4.9% |
738 |
465 |
642 |
|
Visa Inc. |
1,113 |
19.2% |
15.9% |
699 |
15.2% |
13.4% |
11,496 |
414 |
26.6% |
20.7% |
2,639 |
1,338 |
1,642 |
|
Visa Credit Programs |
||||||||||||||
US |
$246 |
4.7% |
4.7% |
$213 |
5.0% |
5.0% |
2,338 |
$34 |
2.9% |
2.9% |
29 |
262 |
335 |
|
Rest of World |
278 |
21.7% |
17.5% |
238 |
22.6% |
18.3% |
2,969 |
40 |
16.4% |
13.0% |
146 |
404 |
464 |
|
Visa Inc. |
524 |
13.1% |
10.9% |
450 |
13.6% |
11.4% |
5,307 |
74 |
9.8% |
7.9% |
175 |
666 |
798 |
|
Visa Debit Programs |
||||||||||||||
US |
$280 |
12.6% |
12.6% |
$210 |
15.0% |
15.0% |
5,329 |
$69 |
5.9% |
5.9% |
708 |
203 |
308 |
|
Rest of World |
309 |
39.4% |
30.9% |
38 |
40.3% |
32.0% |
860 |
271 |
39.3% |
30.8% |
1,756 |
470 |
536 |
|
Visa Inc. |
589 |
25.2% |
20.9% |
248 |
18.2% |
17.0% |
6,189 |
340 |
30.9% |
24.1% |
2,464 |
673 |
843 |
|
For the 12 Months Ended March 31, 2010 |
||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
||
All Visa Credit & Debit |
||||||||||||
Asia Pacific |
$1,154 |
18.7% |
13.2% |
$738 |
16.5% |
10.2% |
9,804 |
$416 |
22.7% |
18.9% |
2,199 |
|
Canada |
192 |
7.0% |
0.4% |
175 |
9.7% |
2.9% |
1,616 |
16 |
-15.7% |
-20.7% |
35 |
|
CEMEA |
544 |
4.6% |
9.8% |
86 |
11.5% |
10.2% |
1,355 |
458 |
3.4% |
9.8% |
3,038 |
|
LAC |
682 |
16.5% |
13.7% |
227 |
20.1% |
16.9% |
5,616 |
455 |
14.7% |
12.2% |
3,294 |
|
US |
2,065 |
2.0% |
2.0% |
1,695 |
3.9% |
3.9% |
33,993 |
370 |
-5.6% |
-5.6% |
3,101 |
|
Visa Inc. |
4,637 |
8.3% |
7.1% |
2,922 |
8.6% |
6.4% |
52,384 |
1,715 |
7.9% |
8.2% |
11,668 |
|
Visa Credit Programs |
||||||||||||
US |
$830 |
-9.5% |
-9.5% |
$770 |
-4.3% |
-4.3% |
9,068 |
$60 |
-46.4% |
-46.4% |
78 |
|
Rest of World |
1,186 |
11.9% |
6.9% |
1,036 |
14.0% |
8.3% |
13,807 |
150 |
-0.8% |
-2.1% |
560 |
|
Visa Inc. |
2,016 |
2.0% |
-0.5% |
1,806 |
5.4% |
2.5% |
22,875 |
210 |
-20.3% |
-20.9% |
638 |
|
Visa Debit Programs |
||||||||||||
US |
$1,234 |
11.6% |
11.6% |
$925 |
11.8% |
11.8% |
24,925 |
$309 |
10.9% |
10.9% |
3,022 |
|
Rest of World |
1,386 |
15.8% |
15.9% |
191 |
26.5% |
22.0% |
4,583 |
1,195 |
14.2% |
14.9% |
8,007 |
|
Visa Inc. |
2,620 |
13.8% |
13.8% |
1,116 |
14.1% |
13.5% |
29,509 |
1,504 |
13.5% |
14.1% |
11,030 |
|
For the 12 Months Ended March 31, 2009 |
||||||||||||||
Total Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Payments Transactions (millions) |
Cash Volume ($ billions) |
Growth (Nominal USD) |
Growth (Constant USD) |
Cash Transactions (millions) |
Accounts (millions) |
Cards (millions) |
||
All Visa Credit & Debit |
||||||||||||||
Asia Pacific |
$972 |
7.8% |
15.3% |
$633 |
7.4% |
14.9% |
8,580 |
$339 |
8.8% |
16.2% |
2,101 |
420 |
506 |
|
Canada |
179 |
-5.4% |
5.0% |
160 |
-4.5% |
6.1% |
1,519 |
19 |
-12.2% |
-2.7% |
36 |
23 |
31 |
|
CEMEA |
520 |
24.0% |
33.4% |
77 |
20.6% |
31.4% |
1,136 |
443 |
24.6% |
33.8% |
2,685 |
178 |
182 |
|
LAC |
586 |
11.8% |
21.9% |
189 |
13.4% |
23.1% |
5,023 |
397 |
11.1% |
21.4% |
3,175 |
313 |
341 |
|
US |
2,024 |
2.4% |
2.4% |
1,632 |
3.6% |
3.6% |
30,696 |
392 |
-2.3% |
-2.3% |
2,902 |
482 |
664 |
|
Visa Inc. |
4,281 |
6.8% |
10.9% |
2,691 |
5.0% |
8.2% |
46,954 |
1,589 |
9.8% |
15.8% |
10,899 |
1,417 |
1,723 |
|
Visa Credit Programs |
||||||||||||||
US |
$918 |
-4.4% |
-4.4% |
$805 |
-2.0% |
-2.0% |
9,170 |
$113 |
-18.8% |
-18.8% |
109 |
240 |
318 |
|
Rest of World |
1,060 |
4.9% |
13.1% |
909 |
5.6% |
13.7% |
12,417 |
151 |
0.8% |
9.5% |
578 |
418 |
480 |
|
Visa Inc. |
1,977 |
0.3% |
4.4% |
1,714 |
1.9% |
5.9% |
21,587 |
264 |
-8.6% |
-4.6% |
687 |
658 |
797 |
|
Visa Debit Programs |
||||||||||||||
US |
$1,106 |
8.9% |
8.9% |
$827 |
9.8% |
9.8% |
21,526 |
$279 |
6.4% |
6.4% |
2,792 |
243 |
347 |
|
Rest of World |
1,197 |
17.0% |
26.2% |
151 |
18.2% |
30.5% |
3,840 |
1,046 |
16.8% |
25.6% |
7,419 |
517 |
579 |
|
Visa Inc. |
2,303 |
12.9% |
17.2% |
978 |
11.0% |
12.6% |
25,367 |
1,325 |
14.4% |
21.0% |
10,212 |
759 |
926 |
|
Footnote
The preceding tables present regional total volume, payments volume and cash volume, and the number of payments transactions, cash transactions, accounts and cards for cards carrying the Visa, Visa Electron and Interlink brands. Card counts include PLUS proprietary cards. Nominal and constant dollar growth rates over prior years are provided for volume-based data.
Payments volume represents the aggregate dollar amount of purchases made with cards carrying the Visa, Visa Electron and Interlink brands for the relevant period; and cash volume represents the aggregate dollar amount of cash disbursements obtained with these cards for the relevant period and includes the impact of balance transfers and convenience checks; but excludes proprietary PLUS volume. Total volume represents payments volume plus cash volume.
Visa payment products are comprised of credit and debit programs, and data relating to each program is included in the tables. Debit programs include Visa's signature based and Interlink (PIN) debit programs.
The data presented is reported quarterly by Visa's members on their operating certificates and is subject to verification by Visa. On occasion, members may update previously submitted information.
Visa's CEMEA region is comprised of countries in Central Europe, the Middle East and Africa. For the 3 months ended September, 2009, Pakistan and Afghanistan were moved from the AP to CEMEA region. Several European Union countries in Central Europe, Israel and Turkey are not included in CEMEA. LAC is comprised of countries in Central and South America and the Caribbean. Rest of World includes Asia Pacific, Canada, CEMEA and LAC.
Information denominated in U.S. dollars is calculated by applying an established U.S. dollar/local currency exchange rate for each local currency in which Visa Inc. volumes are reported ("Nominal USD"). These exchange rates are calculated on a quarterly basis using the established exchange rate for each quarter. To eliminate the impact of foreign currency fluctuations against the U.S. dollar in measuring performance, Visa Inc. also reports year-over-year growth in total volume, payments volume and cash volume on the basis of local currency information ("Constant USD"). This presentation represents Visa's historical methodology which may be subject to review and refinement.
2. Cross Border Volume
The table below represents cross border volume growth for cards carrying the Visa, Visa Electron, Interlink and PLUS brands. Cross border volume refers to payments and cash volume where the issuing country is different from the merchant country.
Period |
Growth (Nominal USD) |
Growth (Constant USD) |
|
3 Months Ended |
|||
Mar 31, 2010 |
19% |
12% |
|
Dec 31, 2009 |
8% |
2% |
|
Sep 30, 2009 |
-9% |
-5% |
|
Jun 30, 2009 |
-15% |
-8% |
|
Mar 31, 2009 |
-15% |
-6% |
|
Dec 31, 2008 |
-6% |
0% |
|
Sep 30, 2008 |
14% |
12% |
|
Jun 30, 2008 |
20% |
14% |
|
12 Months Ended |
|||
Mar 31, 2010 |
-1% |
0% |
|
Mar 31, 2009 |
2% |
5% |
|
3. Processed Transactions
The table below represents transactions involving Visa, Visa Electron, Interlink and PLUS cards processed on Visa's networks.
Period |
Processed Transactions (millions) |
Growth |
|
3 Months Ended |
|||
Mar 31, 2010 |
10,648 |
14% |
|
Dec 31, 2009 |
10,924 |
12% |
|
Sep 30, 2009 |
10,463 |
9% |
|
Jun 30, 2009 |
10,266 |
8% |
|
Mar 31, 2009 |
9,360 |
6% |
|
Dec 31, 2008 |
9,797 |
8% |
|
Sep 30, 2008 |
9,590 |
11% |
|
Jun 30, 2008 |
9,473 |
13% |
|
12 Months Ended |
|||
Mar 31, 2010 |
42,300 |
11% |
|
Mar 31, 2009 |
38,219 |
9% |
|
SOURCE Visa Inc.
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