Item 7.01 Regulation FD Disclosure.

Visa continues to monitor the COVID-19 impact globally. In November, year-over-year spend growth in some countries slowed due to increased COVID-related restrictions while other countries experienced boosts from elevated holiday shopping. Globally, year-over-year spend growth was generally similar to October levels.



In November, total U.S. payments volume rose 6% year-over-year, with the
difference in growth from October being relatively similar by state. Debit
continued its strong growth, up 19% in November despite a smaller contribution
from prepaid spending. Credit declined 5% for the month. Card not present
excluding travel increased 27% year-over-year in November while card present
declined 7%. Growth in spend by merchant category was generally lower than
October, with the exception of retail goods, primarily due to holiday shopping.

International market trends varied based on the level of COVID-related
restrictions and holiday timing in November. Across Europe, in countries such as
the UK, Italy and Germany, COVID-related restrictions helped domestic card not
present payments volume but overall payments volume growth slowed. In India and
Hong Kong, domestic spend benefited from Diwali-related and Singles Day sales,
respectively. In Australia, the UAE, Japan and Brazil domestic spend growth was
consistent with or better than October levels.

Cross-border volume excluding intra-Europe transactions improved 4 points from
October, posting a 33% year-over-year decline in November. This was led by
strong eCommerce spend, up 20% year-over-year in November, driven primarily by
holiday-related retail spend late in the month. Travel related cross-border
volume (card present and card not present) declined 65%. Cross-border volume
including intra-Europe transactions declined 19% year-over-year in November.

Global processed transactions increased 3% in November, 2 points lower than October, reflecting the decline in card present spending.



As a result of COVID, the holiday season this year is likely to look different
than prior years in terms of where, when and on what consumers spend. As such,
specific week-by-week comparisons may not reflect underlying trends and the full
impact is not expected to be clear until the end of the holiday season.

The table below shows the increase / (decrease) in certain key metrics against
the comparable 2019 periods for October, November and quarter-to-date (October 1
- November 30, 2020):

Year-over-Year Increase / (Decrease)                        October            November          Quarter-to-Date
U.S. Payments Volume                                          10%                 6%                   8%
Credit                                                        (3%)               (5%)                 (4%)
Debit                                                         24%                19%                   21%
Cross-Border Volume Excluding Intra-Europe
Transactions*                                                (37%)              (33%)                 (35%)
Cross-Border Volume Including Intra-Europe
Transactions*                                                (25%)              (19%)                 (22%)
Processed Transaction                                          5%                 3%                   4%


*In constant dollars





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Charts that follow provide growth trends against the comparable 2019 periods by
week in September, October and November for U.S. payments volumes, processed
transactions and cross-border volumes:
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The foregoing information is preliminary in nature and has not been audited or reviewed by our auditors and is subject to change.



All information in Item 7.01 is furnished but not filed and shall not be deemed
to be incorporated by reference into any of Visa's filings under the Securities
Act of 1933 or the Securities Exchange Act of 1934 except to the extent
otherwise set forth therein.





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Forward-Looking Statements



This current report contains forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995 that relate to, among
other things, the impact on our underlying business drivers and other volume and
transaction trends as a result of COVID-19, our future operations, prospects,
developments, strategies and business growth. Forward-looking statements
generally are identified by words such as "anticipates," "estimates," "expects,"
"intends," "may," "projects," "outlook," "could," "should," "will," "continue"
and other similar expressions. All statements other than statements of
historical fact could be forward-looking statements, which speak only as of the
date they are made, are not guarantees of future performance and are subject to
certain risks, uncertainties and other factors, many of which are beyond our
control and are difficult to predict.

Actual results could differ materially from those expressed in, or implied by,
our forward-looking statements due to a variety of factors, including, but not
limited to:

•impact of global economic, political, market, health and social events or
conditions, including the impact of COVID-19;
•increased oversight and regulation of the global payments industry and our
business;
•impact of government-imposed obligations and/or restrictions on international
payment systems;
•outcome of tax, litigation and governmental investigation matters;
•increasingly intense competition in the payments industry, including
competition for our clients and merchants;
•proliferation and continuous evolution of new technologies and business models;
•our ability to maintain relationships with our clients, acquirers, processors,
merchants and other third parties;
•brand or reputational damage;
•exposure to loss or illiquidity due to settlement guarantees;
•the impact of the United Kingdom's withdrawal from the European Union;
•a disruption, failure, breach or cyber-attack of our networks or systems;
•risks, uncertainties and the failure to achieve the anticipated benefits with
respect to our acquisitions and other strategic investments; and
•other factors described in our filings with the U.S. Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year ended
September 30, 2020, and our subsequent reports on Form 8-K.

Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future events or otherwise.

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