(5 November 2024 – Untied States) Visa’s fiscal Q4 earnings call highlighted a surge in momentum for new payment flows as overall payments volumes expanded eight percent year-on-year (YOY).
Visa Direct CEO Ryan McInerney pointed to Visa’s credential count jumping seven percent YOY 4.6 billion, surpassing the key milestone of 11.5 billion tokens cumulatively issued. New flows revenues were up 22 percent, and Visa Direct transactions grew by 38 percent in the latest quarter to 2.8 billion. Commercial volumes were up five percent.
Referencing value-added services, Visa’s core banking and issuer processing platform Pismo “has a good pipeline and its solutions are resonating with clients, with nearly 12 billion API calls a month.”
“Our key business drivers were relatively stable compared to Q3. More than 30 percent of our total transactions are tokenized. We finished the year with almost 10 billion Visa Direct transactions and US$1.7 billion in commercial payments volume. Commercial credentials grew at 18 percent YOY, significantly faster the overall credentials growth rate” McInerney stated.
McInerney drew attention to account-to-account payments as an area of particular promise following Walmart’s announcement of enhanced offerings, where the firm is leveraging its brand infrastructure and rules as well as consumer protections to enable simpler, safer and more secure account to account payments.
“There’s a lot going on with account-to-account payments in the US and around the world. Pay by bank is not a new capability. It’s not a new capability in the US. It’s not a new capability for Walmart. I think as of today, you can load three different bank accounts into your walmart.com wallet to pay for things. We expect that account-to-account payments will continue to proliferate here and around the world. We think there’s a lot that we can add in terms of value to account-to-account payments.”