Visa Inc. (NYSE: V) is the world’s leader in digital payments. Their mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network and scale to reshape the future of commerce.
Recently, Visa released its quarterly earnings ending Sep 30 exceeding Wall Street’s earnings estimates. They experienced higher digital payment volumes but an increase in overall customer spending. Visa earned $1.47 per share exceeded estimates at $1.43 as per Refinitiv data. Its total payments volume rose 8.7% to $2.27 trillion on a constant dollar basis, as Visa and rival Mastercard are promoting and encouraging people to use cards and shift to digital transaction modes.
The number of transactions processed increased by 13.2% to 47.82 billion. Net revenue leaped 13% to $6.14 billion. The company’s net income increased by 6.3% to $3.03 billion. Visa’s shares rose by 1.3% in extended trading.
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