„In Q1, we crossed the 60 billion payment transaction mark for the first time in history, up 26% from two years ago. Visa cards were used 28 million times per hour in the last quarter. And we also increased our card credentials to over 3.8 billion, up 10% in one year,” said Alfred F. Kelly, Jr. Chairman & Chief Executive Officer, Visa, Inc, during the card network’s Q1 2022 earnings call.
Many current trends in payments including A2A, RTP, buy now, pay later, crypto and wallet are enabling new ways to pay.
„These represent opportunities for Visa where we are extraordinarily well positioned to utilize our unique strengths in global network to help them grow and scale. As we look ahead, we expect accelerated revenue growth versus pre-COVID over the coming years (…) The opportunity to displace cash and check is enormous,” Kelly added.
„We are seeing a large appetite from our partners in experiencing significant growth. A key driver is Visa Direct which targets a $65 trillion opportunity across P2P, B2b, B2C and G2C. These are all use cases that Visa didn’t really serve just five years ago,” Kelly explains.
Tap to pay penetration
In the face-to-face world, tap to pay continues to accelerate growth. The Visa’s official highlights progress in a few larger markets.
In Brazil, the tap to pay penetration has increased from 5% to 24% in the past year.
In India, where Visa have increased merchant locations 30% since fiscal year 2019 to 6 million at the end of fiscal year 2021, the tap to pay penetration has nearly doubled to 16% in the same period.
„And all of these efforts have helped to fuel our 40% plus year-over-year growth rate in payments volume in India this past quarter,” Kelly said.
In the United States, we’re nearing 20% tap to pay penetration with key metro cities showing even stronger growth. LA, Seattle, Detroit, Orange County, Miami, and Salt Lake City have all surpassed 25%. San Francisco, San Jose, and Oakland are up over 30%. And New York has reached 45%.
More details: Q1 2022 Visa Inc. Earnings Conference Call – Management discussion section
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
