Visa : Q2 2025 Visa Earnings Conference Call Operational Performance Data
V
The tables below provide information regarding the available operational results for the 3 months ended March 31, 2025, as well as the prior four quarterly reporting periods and the 12 months ended March 31, 2025 and 2024, for cards and other form factors carrying the Visa, Visa Electron, V PAY and Interlink brands.
The tables present regional total volume, payments volume, and cash volume, and the number of payments transactions, cash transactions, accounts and cards for cards and other form factors carrying the Visa, Visa Electron, V PAY and Interlink brands and excludes Europe co-badged volume and transactions for all periods. Card counts include PLUS proprietary cards. Nominal and constant dollar growth rates over prior years are provided for volume-based data.
Total Volume
Growth (Nominal
Growth (Constant
Payments Volume
Growth (Nominal
Growth (Constant
Payments Transactions
Cash Volume
Growth (Nominal
Growth (Constant
Cash Transactions
($ billions)
USD)
USD)
($ billions)
USD)
USD)
(millions)
($ billions)
USD)
USD)
(millions)
All Visa Credit & Debit
Asia Pacific
$567
(2.1%)
0.9%
$489
(2.1%)
1.1%
11,663
$78
(1.9%)
(0.2%)
755
Canada
103
1.2%
7.6%
96
1.0%
7.4%
1,571
7
3.6%
10.1%
13
CEMEA
332
9.9%
12.8%
208
13.8%
16.4%
6,909
124
4.0%
7.1%
844
LAC
352
1.7%
14.5%
228
7.1%
21.0%
9,474
124
(6.9%)
4.2%
1,118
US
1,799
5.3%
5.3%
1,654
5.9%
5.9%
25,859
145
(1.7%)
(1.7%)
679
Europe
784
5.3%
8.4%
665
7.1%
10.0%
18,119
118
(3.5%)
0.1%
611
Visa Inc.
3,937
4.1%
6.7%
3,341
5.3%
7.5%
73,595
597
(2.0%)
1.9%
4,020
Visa Credit Programs
US
$797
4.7%
4.7%
$784
4.7%
4.7%
8,646
$13
3.8%
3.8%
17
International
887
2.7%
7.8%
844
3.0%
8.1%
17,929
44
(2.0%)
2.8%
174
Visa Inc.
1,684
3.7%
6.3%
1,628
3.8%
6.4%
26,575
56
(0.7%)
3.0%
191
Visa Debit Programs
US
$1,002
5.7%
5.7%
$870
7.0%
7.0%
17,213
$133
(2.1%)
(2.1%)
662
International
1,251
3.4%
7.9%
843
6.3%
10.3%
29,807
408
(2.2%)
3.2%
3,167
Visa Inc.
2,253
4.4%
6.9%
1,713
6.7%
8.6%
47,020
540
(2.2%)
1.8%
3,829
For the 3 Months Ended December 31, 2024
Total Volume
($ 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
$604
(0.5%)
0.8%
$524
(0.3%)
1.2%
12,295
$80
(1.7%)
(1.6%)
766
1,137
1,210
Canada
118
6.9%
10.5%
111
7.2%
10.7%
1,758
7
3.4%
6.9%
12
88
94
CEMEA
337
10.1%
13.5%
213
15.8%
19.2%
6,983
125
1.5%
5.0%
858
384
408
LAC
376
0.9%
15.1%
242
5.3%
22.0%
9,811
134
(6.2%)
4.6%
1,197
751
889
US
1,869
6.6%
6.6%
1,720
7.3%
7.3%
27,308
149
(0.5%)
(0.5%)
732
1,268
1,495
Europe
846
10.2%
11.2%
714
12.1%
12.8%
19,347
132
0.9%
3.2%
671
624
697
Visa Inc.
4,151
5.9%
8.0%
3,524
7.3%
9.0%
77,503
628
(1.2%)
2.3%
4,237
4,252
4,793
Visa Credit Programs
US
$854
6.7%
6.7%
$842
6.7%
6.7%
9,485
$12
6.6%
6.6%
16
343
455
International
945
4.8%
9.0%
900
5.1%
9.3%
18,806
45
(0.3%)
3.2%
179
807
937
Visa Inc.
1,799
5.7%
7.9%
1,742
5.8%
8.0%
28,291
57
1.1%
3.9%
196
1,150
1,392
Visa Debit Programs
US
$1,015
6.6%
6.6%
$878
7.9%
7.9%
17,824
$137
(1.1%)
(1.1%)
716
925
1,040
International
1,337
5.9%
9.2%
903
9.8%
12.3%
31,389
434
(1.5%)
3.2%
3,325
2,177
2,362
Visa Inc.
2,352
6.2%
8.0%
1,781
8.8%
10.1%
49,212
571
(1.4%)
2.2%
4,041
3,102
3,401
Total Volume
($ 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
$585
(0.3%)
0.3%
$507
(0.0%)
0.6%
11,935
$78
(2.2%)
(1.4%)
758
1,134
1,209
Canada
113
4.8%
6.5%
105
4.8%
6.5%
1,676
7
5.4%
7.1%
12
85
92
CEMEA
325
10.2%
13.7%
202
15.3%
18.7%
6,499
123
2.8%
6.3%
862
365
390
LAC
361
2.5%
16.0%
228
7.0%
23.6%
9,158
133
(4.5%)
5.0%
1,191
729
867
US
1,799
4.3%
4.3%
1,649
5.0%
5.0%
26,750
150
(2.9%)
(2.9%)
754
1,255
1,472
Europe
852
10.8%
10.6%
716
12.3%
12.0%
19,228
136
3.2%
3.8%
699
611
681
Visa Inc.
4,035
5.2%
6.7%
3,408
6.4%
7.6%
75,245
627
(0.7%)
2.2%
4,277
4,180
4,711
Visa Credit Programs
US
$819
5.1%
5.1%
$806
5.0%
5.0%
9,218
$13
13.1%
13.1%
17
340
451
International
918
4.8%
8.0%
873
5.0%
8.3%
18,136
45
0.5%
2.5%
176
790
920
Visa Inc.
1,737
4.9%
6.6%
1,679
5.0%
6.7%
27,354
58
3.1%
4.7%
193
1,130
1,371
Visa Debit Programs
US
$980
3.7%
3.7%
$843
5.1%
5.1%
17,532
$137
(4.2%)
(4.2%)
738
915
1,021
International
1,318
6.7%
9.2%
886
10.4%
12.0%
30,359
432
(0.1%)
4.0%
3,346
2,135
2,319
Visa Inc.
2,298
5.4%
6.8%
1,729
7.7%
8.5%
47,891
569
(1.1%)
1.9%
4,084
3,050
3,340
For the 3 Months Ended June 30, 2024
Total Volume
($ 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
$567
(4.9%)
(0.0%)
$491
(4.8%)
0.3%
11,518
$76
(6.2%)
(2.1%)
752
1,125
1,198
Canada
113
4.5%
7.2%
106
4.5%
7.2%
1,637
7
5.1%
7.8%
12
84
91
CEMEA
311
6.4%
10.1%
190
12.8%
16.9%
6,171
121
(2.4%)
0.9%
848
362
386
LAC
360
4.8%
14.8%
221
7.5%
21.0%
8,689
138
0.8%
6.1%
1,235
703
835
US
1,804
4.5%
4.5%
1,652
5.1%
5.1%
26,321
151
(2.1%)
(2.1%)
762
1,228
1,439
Europe
797
7.7%
11.4%
665
9.5%
12.7%
18,405
132
(0.6%)
4.8%
722
604
673
Visa Inc.
3,952
3.8%
6.5%
3,326
4.9%
7.4%
72,741
626
(1.6%)
1.8%
4,331
4,107
4,622
Visa Credit Programs
US
$819
5.4%
5.4%
$807
5.3%
5.3%
8,989
$12
7.6%
7.6%
16
330
435
International
883
1.3%
7.8%
839
1.6%
8.1%
17,346
44
(3.3%)
2.2%
181
783
909
Visa Inc.
1,702
3.2%
6.6%
1,646
3.4%
6.8%
26,335
56
(1.1%)
3.3%
197
1,114
1,344
Visa Debit Programs
US
$985
3.7%
3.7%
$845
4.9%
4.9%
17,332
$139
(2.9%)
(2.9%)
746
898
1,003
International
1,265
4.7%
8.6%
835
8.0%
11.6%
29,074
430
(1.3%)
3.1%
3,388
2,096
2,274
Visa Inc.
2,250
4.2%
6.4%
1,680
6.4%
8.1%
46,406
569
(1.7%)
1.6%
4,134
2,993
3,278
For the 3 Months Ended March 31, 2024
Total Volume
($ 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
$579
(2.7%)
1.9%
$500
(2.7%)
2.4%
10,946
$79
(3.1%)
(0.9%)
774
1,120
1,194
Canada
102
6.2%
5.5%
95
5.7%
5.1%
1,459
7
12.4%
11.8%
12
84
90
CEMEA
302
9.9%
13.8%
183
15.1%
19.9%
5,785
119
2.7%
5.4%
814
353
376
LAC
346
8.2%
10.9%
213
12.3%
18.3%
8,201
133
2.1%
1.0%
1,156
689
811
US
1,709
5.5%
5.5%
1,561
6.1%
6.1%
24,730
148
(0.4%)
(0.4%)
737
1,206
1,416
Europe
744
13.4%
12.7%
621
14.9%
13.7%
16,884
123
6.2%
8.1%
677
606
671
Visa Inc.
3,782
6.2%
7.3%
3,173
7.1%
8.3%
68,004
609
1.8%
2.7%
4,169
4,057
4,559
Visa Credit Programs
US
$761
6.2%
6.2%
$749
6.3%
6.3%
8,259
$12
1.5%
1.5%
16
328
433
International
864
4.5%
8.8%
819
4.5%
9.0%
16,252
44
3.4%
6.8%
177
780
903
Visa Inc.
1,625
5.3%
7.5%
1,568
5.3%
7.6%
24,510
57
3.0%
5.6%
193
1,108
1,336
Visa Debit Programs
US
$948
5.0%
5.0%
$812
6.0%
6.0%
16,471
$135
(0.6%)
(0.6%)
720
878
983
International
1,210
8.4%
9.0%
793
11.9%
12.2%
27,023
417
2.4%
3.5%
3,255
2,071
2,239
Visa Inc.
2,158
6.9%
7.2%
1,605
8.8%
8.9%
43,494
552
1.6%
2.4%
3,976
2,949
3,222
Total
Volume
Growth
(Nominal
Growth
(Constant
Payments
Volume
Growth
(Nominal
Growth
(Constant
Payments
Transactions
Cash
Volume
Growth
(Nominal
Growth
(Constant
Cash
Transactions
($ billions)
USD)
USD)
($ billions)
USD)
USD)
(millions)
($ billions)
USD)
USD)
(millions)
All Visa Credit & Debit
Asia Pacific
$2,323
(2.0%)
0.5%
$2,011
(1.8%)
0.8%
47,410
$312
(3.0%)
(1.3%)
3,031
Canada
446
4.4%
8.0%
418
4.4%
8.0%
6,642
29
4.4%
8.0%
49
CEMEA
1,305
9.2%
12.5%
813
14.4%
17.8%
26,562
492
1.5%
4.8%
3,412
LAC
1,449
2.4%
15.1%
920
6.7%
21.9%
37,132
530
(4.2%)
5.0%
4,742
US
7,271
5.2%
5.2%
6,675
5.8%
5.8%
106,238
596
(1.8%)
(1.8%)
2,928
Europe
3,279
8.5%
10.4%
2,761
10.3%
11.9%
75,099
518
0.1%
3.0%
2,704
Visa Inc.
16,075
4.8%
7.0%
13,598
6.0%
7.9%
299,084
2,477
(1.4%)
2.1%
16,865
Visa Credit Programs
US
$3,289
5.5%
5.5%
$3,239
5.4%
5.4%
36,337
$50
7.7%
7.7%
66
International
3,633
3.4%
8.2%
3,456
3.7%
8.5%
72,217
178
(1.3%)
2.7%
711
Visa Inc.
6,923
4.4%
6.9%
6,695
4.5%
7.0%
108,554
227
0.6%
3.7%
777
Visa Debit Programs
US
$3,982
4.9%
4.9%
$3,436
6.2%
6.2%
69,902
$546
(2.6%)
(2.6%)
2,862
International
5,170
5.2%
8.7%
3,467
8.7%
11.5%
120,629
1,703
(1.3%)
3.4%
13,226
Visa Inc.
9,152
5.1%
7.0%
6,903
7.4%
8.8%
190,530
2,249
(1.6%)
1.9%
16,088
For the 12 Months Ended March 31, 2024
Total Volume
($ 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
$2,370
0.8%
3.9%
$2,048
1.2%
4.6%
44,063
$322
(1.8%)
(0.3%)
3,172
1,120
1,194
Canada
428
4.5%
6.0%
400
4.3%
5.8%
6,049
28
7.1%
8.6%
45
84
90
CEMEA
1,196
11.1%
14.9%
711
19.0%
22.5%
22,358
485
1.1%
5.2%
3,398
353
376
LAC
1,415
12.2%
10.2%
862
17.6%
17.1%
32,373
553
4.7%
1.3%
4,578
689
811
US
6,914
5.2%
5.2%
6,307
5.8%
5.8%
100,760
607
(0.7%)
(0.7%)
3,094
1,206
1,416
Europe
3,021
15.0%
11.6%
2,503
15.7%
12.1%
67,878
518
11.5%
9.2%
2,898
606
671
Visa Inc.
15,343
7.3%
7.3%
12,831
8.2%
8.2%
273,480
2,512
3.1%
2.9%
17,185
4,057
4,559
Visa Credit Programs
US
$3,119
5.6%
5.6%
$3,072
5.7%
5.7%
34,194
$46
(2.9%)
(2.9%)
61
328
433
International
3,513
7.6%
9.8%
3,333
7.7%
10.0%
64,830
180
6.4%
7.0%
739
780
903
Visa Inc.
6,632
6.7%
7.7%
6,406
6.7%
7.8%
99,023
226
4.4%
4.8%
800
1,108
1,336
Visa Debit Programs
US
$3,796
4.9%
4.9%
$3,235
5.9%
5.9%
66,566
$561
(0.5%)
(0.5%)
3,033
878
983
International
4,915
10.2%
8.8%
3,190
13.8%
11.7%
107,891
1,725
4.1%
3.9%
13,352
2,071
2,239
Visa Inc.
8,711
7.8%
7.0%
6,425
9.7%
8.6%
174,457
2,286
3.0%
2.7%
16,385
2,949
3,222
The table below represents cross-border volume growth for cards and other form factors carrying the Visa, Visa Electron, V PAY, Interlink and PLUS brands. Cross-border volume refers to payments and cash volume where the issuing country is different from the merchant country.
Total Growth
(Nominal
Total Growth
(Constant
Ex. Intra-Europe (1)
Growth (Constant
Period
USD)
USD)
USD)
3 Months Ended
Mar 31, 2025
10%
13%
13%
Dec 31, 2024
15%
16%
16%
Sep 30, 2024
13%
13%
13%
Jun 30, 2024
12%
14%
14%
Mar 31, 2024
17%
16%
16%
12 Months Ended
Mar 31, 2025
13%
14%
14%
(1) Cross-border volumes excluding transactions within Europe drive our international transaction revenues.
The table below includes payments and cash transactions, and represent transactions using cards and other form factors carrying the Visa, Visa Electron, V PAY, Interlink and PLUS brands processed on Visa's networks.
Period
Processed Transactions (millions)
Growth
3 Months Ended
Mar 31, 2025
60,651
9%
Dec 31, 2024
63,797
11%
Sep 30, 2024
61,512
10%
Jun 30, 2024
59,318
10%
Mar 31, 2024
55,456
11%
12 Months Ended
Mar 31, 2025
245,278
10%
Payments volume, including Visa Direct volume, represents the aggregate dollar amount of purchases made with cards and other form factors carrying the Visa, Visa Electron, V PAY and Interlink brands and excludes Europe co-badged volume 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 and 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 based on transactions processed by Visa and reported by Visa's financial institution clients on their operating certificates. Estimates may be utilized if data is unavailable. Due to Visa's suspension of operations in Russia in March 2022, the data no longer includes volumes and transactions for Russia clients starting the three months ended June 30, 2022 and accounts and cards starting the three months ended March 31, 2022.
Previously presented information may be updated. Prior period updates, if any, are not material.
Visa's CEMEA region is comprised of countries in Central Europe, the Middle East and Africa. 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. International includes Asia Pacific, Canada, CEMEA, Europe 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.
Figures in the tables may not recalculate exactly due to rounding. The totals and percentages are calculated based on unrounded numbers.
Disclaimer
Visa Inc. published this content on April 29, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2025 at 23:24 UTC.