Visa (V) Bank of America Global Tech Conference summary

Business trends and performance

• Global payment volume growth remains stable, with Q2 volumes up 8% overall, 6% in the U.S., and 11% internationally; travel and cross-border volumes grew 16%.

• Consumer spending patterns across income segments have been relatively unchanged for several quarters.

• U.S. ticket size is trending positive in the second half, with easier comps expected.

Financial outlook and guidance

• Guidance for low double-digit net revenue growth in constant currency for the fiscal year is reiterated.

• Second-half growth is expected to accelerate as headwinds from cross-border normalization, incentives, and currency volatility ease.

• Q4 is anticipated to finish on a high note, with stable outlook for the remainder of the year.

Growth in new businesses

• New Flows, including commercial payments and Visa Direct, posted 14% growth in Q2 and is expected to outpace Consumer Payments.

• Visa Direct transactions grew over 30% last quarter, now representing about 5% of total debit transactions, with strong unit economics.

• Value-Added Services revenue grew 23% year-over-year, with consistent 20%+ growth across multiple quarters.