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<blockquote data-quote="WPLG" data-source="post: 56186" data-attributes="member: 158">Visa Inc. said Tuesday that its fiscal third quarter profits rose 32% from a year earlier, helped by yet another double-digit rise in the amount of money processed on its credit and debit card network.The payment processing company said it earned a profit of $3.4 billion, or $1.60 a share, compared to a profit of $2.57 billion, or $1.18 a share, in the same period a year earlier. Excluding one-time costs, Visa earned $1.98 per share this quarter, which was much better than the $1.75 a share that analysts had been expecting, according to FactSet.San Francisco-based Visa has been benefiting from a worldwide migration from cash to digital forms of payments, either through online shopping or through the increased use of contactless payments. The company processed $2.939 trillion on its network last quarter, up 12% from a year earlier. Visa earns a small fee from every transaction that crosses its network, depending on the type of transaction and the merchant who used it.Most notably cross-border payments were up 40% from a year earlier, a signal that consumers are returning to their pre-pandemic traveling habits.“Consumers are back on the road, visiting various corners of the world, resulting in cross-border travel volume surpassing 2019 levels for the first time since the pandemic began in early 2020,” said Al Kelly, chairman and CEO of Visa, in a statement.<a href="https://www.local10.com/business/2022/07/26/visas-profits-jump-32-as-consumers-start-traveling-again/" target="_blank">Continue reading...</a></blockquote>

[QUOTE="WPLG, post: 56186, member: 158"] Visa Inc. said Tuesday that its fiscal third quarter profits rose 32% from a year earlier, helped by yet another double-digit rise in the amount of money processed on its credit and debit card network. The payment processing company said it earned a profit of $3.4 billion, or $1.60 a share, compared to a profit of $2.57 billion, or $1.18 a share, in the same period a year earlier. Excluding one-time costs, Visa earned $1.98 per share this quarter, which was much better than the $1.75 a share that analysts had been expecting, according to FactSet. San Francisco-based Visa has been benefiting from a worldwide migration from cash to digital forms of payments, either through online shopping or through the increased use of contactless payments. The company processed $2.939 trillion on its network last quarter, up 12% from a year earlier. Visa earns a small fee from every transaction that crosses its network, depending on the type of transaction and the merchant who used it. Most notably cross-border payments were up 40% from a year earlier, a signal that consumers are returning to their pre-pandemic traveling habits. “Consumers are back on the road, visiting various corners of the world, resulting in cross-border travel volume surpassing 2019 levels for the first time since the pandemic began in early 2020,” said Al Kelly, chairman and CEO of Visa, in a statement. [url="https://www.local10.com/business/2022/07/26/visas-profits-jump-32-as-consumers-start-traveling-again/"]Continue reading...[/url] [/QUOTE]

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