2019 was a special year in terms of online payments, tokenization, and contactless payment processing for Visa, Inc. All these payment methods made great advances during the last 3 months of the year. To get a better idea of the topic and know how you can find exceptional credit card processing services, just follow the lines below.
Transaction Processing for Visa in 2019
Visa, Inc.’s fiscal Q1 witnessed a higher volume of cross-border transactions. When it comes to contactless payments, these went on gaining traction in the U.S. and beyond. Visa’s total revenue makes up $23.52B. Gross profit is valued at $22.26B, and the EBITDA (earnings before interest, tax, depreciation, and amortization) at $16.05B.
The company’s net revenues of $6.05 billion increased by 10% YoY (year over year) but they were lower as compared to consensus, which made up $6.08 billion. Visa’s payments volume grew by 8% YoY, thus reaching $2.3 trillion.
As for the cross-border volume, the latter rose by 9%. The company’s international transaction revenues increased by 9&, thus accounting for $2 trillion. What about your eCommerce business in the U.S? Do you need help with safe and low cost merchant services in the country?
Well, this can’t be a challenge if you work with a reputable merchant services comparison company that can help you choose the right services for your business. With a true payment processor comparison expert, you can fast and easily get approved for the safest and cheapest merchant services in the U.S.
The Rise of Digital Payments
Digital payments have completely revolutionized the global payments industry. Years ago, the industry was associated with traditional cash, credit/debit and prepaid cards.
Today, the values of the global contactless transactions are expected to jump to almost U.S. $6tn in 2024 from today’s U.S. $2tn, as Juniper Research predicts. Let’s take Visa transactions. E.g., in New York City, on the MTA, there’s been more than 2m taps via Visa.
To wrap things up, Visa, Inc. has doubled the number of countries where face-to-face transactions are min. 2/3 contactless. To be able to take your business to the next level, get down to finding the right processor for your financial needs.
Author Bio: Payment industry guru Taylor Cole Co-Founder of BestPaymentProviders.com is a passionate payments expert who understands the complex world of merchant accounts. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right thinking people.