Visa : Operational Performance Data

Operational Performance Data

The tables below provide information regarding the available operational results for the 3 months ended March 31, 2019, as well as the prior four quarterly reporting periods and the 12 months ended March 31, 2019 and 2018, for cards and other form factors carrying the Visa, Visa Electron, V PAY and Interlink brands. Sections 1-3 below reflect the acquisition of Visa Europe, with Europe included in Visa Inc. results effective the 3 months ended September 30, 2016.

1. Branded Volume and Transactions

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.

						For the 3 Months Ended March 31, 2019
		Total	Growth	Growth	Payments	Growth	Growth	Payments		Cash	Growth	Growth	Cash
		Volume	(Nominal	(Constant	Volume	(Nominal	(Constant	Transactions		Volume	(Nominal	(Constant	Transactions		Accounts			Cards
		($ billions)	USD)	USD)	($ billions)	USD)	USD)	(millions)		($ billions)	USD)	USD)	(millions)		(millions)			(millions)
All Visa Credit & Debit
Asia Pacific		$599	(1.3%)	3.7%	$478	1.0%	6.5%	6,963		$121	(9.6%)	(6.1%)	1,008		3			4
Canada		67	2.0%	6.6%	61	2.4%	7.1%	914		5	(2.5%)	2.0%	11		63			62
CEMEA		268	(0.5%)	7.8%	111	11.0%	21.7%	4,460		157	(7.2%)	(0.2%)	1,139		3			3
LAC		230	(9.5%)	5.9%	101	(4.7%)	14.2%	3,439		129	(12.9%)	0.1%	1,148		2			2
US		1,071	6.9%	6.9%	930	7.9%	7.9%	16,962		140	0.8%	0.8%	885		6			6
Europe		536	(3.9%)	5.7%	407	(2.3%)	6.6%	9,446		129	(8.7%)	3.1%	989		19			22
Visa Inc.		2,770	0.6%	6.0%	2,089	3.5%	8.2%	42,184		681	(7.5%)	(0.4%)	5,180		96			101
Visa Credit Programs
US		$488	6.1%	6.1%	$473	6.3%	6.3%	5,698		$15	0.4%	0.4%	14		-			-
International		717	(1.1%)	6.8%	669	(0.6%)	7.2%	9,933		48	(7.1%)	0.7%	217		976			1,124
Visa Inc.		1,205	1.7%	6.5%	1,143	2.1%	6.8%	15,631		62	(5.4%)	0.7%	231		976			1,124
Visa Debit Programs
US		$583	7.6%	7.6%	$457	9.7%	9.7%	11,264		$126	0.8%	0.8%	871		-			-
International		983	(4.5%)	4.4%	489	1.4%	10.3%	15,289		493	(9.7%)	(0.9%)	4,079		2,057			2,244
Visa Inc.		1,565	(0.3%)	5.6%	946	5.2%	10.0%	26,553		619	(7.7%)	(0.5%)	4,949		2,057			2,244
					For the 3 Months Ended December 31, 2018
		Total	Growth	Growth	Payments	Growth	Growth	Payments		Cash	Growth	Growth	Cash
		Volume	(Nominal	(Constant	Volume	(Nominal	(Constant	Transactions		Volume	(Nominal	(Constant	Transactions		Accounts			Cards
		($ billions)	USD)	USD)	($ billions)	USD)	USD)	(millions)		($ billions)	USD)	USD)	(millions)		(millions)			(millions)
All Visa Credit & Debit
Asia Pacific		$619	3.2%	7.1%	$496	5.7%	9.7%	7,485		$123	(5.8%)	(2.4%)	1,058		921			1,019
Canada		76	5.1%	9.0%	70	5.2%	9.1%	995		6	3.9%	7.8%	11		63			69
CEMEA		287	2.0%	8.7%	114	14.8%	23.0%	4,513		173	(4.9%)	1.0%	1,269		348			343
LAC		252	(7.5%)	8.7%	108	(3.4%)	16.7%	3,541		144	(10.3%)	3.4%	1,276		426			464
US		1,121	9.5%	9.5%	979	10.5%	10.5%	17,888		142	3.2%	3.2%	924		753			912
Europe		571	1.1%	7.3%	429	3.0%	8.5%	9,988		142	(4.4%)	3.8%	1,064			502		549
Visa Inc.		2,926	4.0%	8.4%	2,197	7.2%	10.8%	44,410		729	(4.6%)	1.9%	5,601		3,012			3,358
Visa Credit Programs
US		$533	8.4%	8.4%	$519	8.5%	8.5%	6,324		$14	4.6%	4.6%	16		272			337
International		755	2.7%	9.2%	704	3.3%	9.8%	10,512		51	(4.9%)	0.7%	223			701		781
Visa Inc.		1,288	5.0%	8.8%	1,223	5.4%	9.3%	16,836		65	(3.0%)	1.5%	239		973			1,118
Visa Debit Programs
US		$588	10.6%	10.6%	$461	12.9%	12.9%	11,564		$128	3.0%	3.0%	908		480			575
International		1,050	(0.5%)	6.7%	514	6.4%	12.5%	16,010		536	(6.4%)	1.6%	4,454			1,559		1,664
Visa Inc.		1,638	3.2%	8.1%	974	9.4%	12.7%	27,574		663	(4.7%)	1.9%	5,362		2,039			2,239

1

					For the 3 Months Ended September 30, 2018
		Total	Growth	Growth	Payments	Growth	Growth	Payments		Cash	Growth	Growth	Cash
		Volume	(Nominal	(Constant	Volume	(Nominal	(Constant	Transactions		Volume	(Nominal	(Constant	Transactions		Accounts		Cards
		($ billions)	USD)	USD)	($ billions)	USD)	USD)	(millions)		($ billions)	USD)	USD)	(millions)		(millions)		(millions)
All Visa Credit & Debit
Asia Pacific		$600	5.3%	8.2%	$477	7.7%	10.4%	7,089		$123	(3.3%)	0.3%	1,041		920		1,017
Canada		71	3.4%	8.5%	66	3.5%	8.6%	939		6	1.7%	6.7%	11		60		66
CEMEA		277	1.8%	7.9%	106	13.3%	20.8%	4,211		171	(4.3%)	1.2%	1,227		353		345
LAC		231	(9.5%)	7.8%	97	(5.3%)	16.0%	3,284		134	(12.3%)	2.6%	1,198		436		472
US		1,089	10.9%	10.9%	945	12.4%	12.4%	17,498		144	2.0%	2.0%	955		736		897
Europe		568	2.3%	7.6%	422	4.8%	9.1%	9,478		145	(4.5%)	3.4%	1,089		499		548
Visa Inc.		2,835	4.9%	9.0%	2,112	8.6%	11.7%	42,500		723	(4.5%)	1.9%	5,521		3,004		3,345
Visa Credit Programs
US		$513	10.8%	10.8%	$499	11.1%	11.1%	6,148		$14	0.6%	0.6%	16		269		336
International		728	3.6%	9.3%	677	4.2%	10.1%	10,027		51	(4.2%)	0.4%	220		692		771
Visa Inc.		1,241	6.5%	9.9%	1,176	7.0%	10.5%	16,175		66	(3.2%)	0.4%	236		961		1,107
Visa Debit Programs
US		$576	11.0%	11.0%	$446	13.9%	13.9%	11,350		$130	2.2%	2.2%	940		468		561
International		1,018	0.0%	6.9%	491	7.8%	12.6%	14,976		527	(6.2%)	2.1%	4,346		1,576		1,676
Visa Inc.		1,594	3.8%	8.4%	937	10.6%	13.2%	26,325		657	(4.7%)	2.1%	5,285		2,044		2,238
						For the 3 Months Ended June 30, 2018
		Total	Growth	Growth	Payments	Growth	Growth	Payments		Cash	Growth	Growth	Cash
		Volume	(Nominal	(Constant	Volume	(Nominal	(Constant	Transactions		Volume	(Nominal	(Constant	Transactions		Accounts		Cards
		($ billions)	USD)	USD)	($ billions)	USD)	USD)	(millions)		($ billions)	USD)	USD)	(millions)		(millions)		(millions)
All Visa Credit & Debit
Asia Pacific		$613	13.3%	9.3%	$485	17.0%	12.3%	6,700		$128	1.1%	(0.7%)	1,006		902		1,002
Canada		73	13.6%	9.2%	67	13.8%	9.4%	922		6	11.2%	6.9%	11		59		65
CEMEA		282	4.4%	8.0%	105	18.3%	22.6%	4,054		176	(2.4%)	0.9%	1,238		347		339
LAC		240	(3.4%)	8.3%	101	1.6%	16.3%	3,199		138	(6.7%)	3.1%	1,180		430		466
US		1,082	10.0%	10.0%	938	11.3%	11.3%	17,275		144	2.0%	2.0%	993		707		853
Europe		578	13.0%	7.4%	428	15.2%	8.8%	9,075		150	7.1%	3.5%	1,096		498		547
Visa Inc.		2,868	9.5%	9.0%	2,125	13.2%	11.7%	41,225		742	0.1%	1.8%	5,525		2,943		3,273
Visa Credit Programs
US		$507	10.0%	10.0%	$493	10.5%	10.5%	5,990		$14	(4.5%)	(4.5%)	15		265		333
International		745	12.7%	10.5%	693	13.6%	11.4%	9,708		52	2.3%	0.1%	219		685		764
Visa Inc.		1,252	11.6%	10.3%	1,186	12.3%	11.0%	15,699		66	0.8%	(0.9%)	234		950		1,097
Visa Debit Programs
US		$576	10.0%	10.0%	$445	12.3%	12.3%	11,285		$131	2.8%	2.8%	978		442		520
International		1,040	6.8%	6.8%	494	16.5%	12.8%	14,242		546	(0.6%)	1.9%	4,312		1,551		1,656
Visa Inc.		1,616	7.9%	7.9%	939	14.5%	12.6%	25,527		677	0.0%	2.1%	5,291		1,993		2,175
						For the 3 Months Ended March 31, 2018
		Total	Growth	Growth	Payments	Growth	Growth	Payments		Cash	Growth	Growth	Cash
		Volume	(Nominal	(Constant	Volume	(Nominal	(Constant	Transactions		Volume	(Nominal	(Constant	Transactions		Accounts		Cards
		($ billions)	USD)	USD)	($ billions)	USD)	USD)	(millions)		($ billions)	USD)	USD)	(millions)		(millions)		(millions)
All Visa Credit & Debit
Asia Pacific		$607	15.7%	8.4%	$473	18.0%	10.9%	6,227		$133	8.2%	0.7%	988		887		987
Canada		66	13.4%	9.1%	60	13.1%	8.9%	819		6	16.7%	12.3%	11		58		64
CEMEA		269	11.2%	9.0%	100	25.7%	22.1%	3,679		170	4.1%	2.6%	1,185		342		336
LAC		254	5.8%	5.7%	106	10.5%	12.3%	3,080		148	2.6%	1.5%	1,172		428		462
US		1,001	9.9%	9.9%	862	10.9%	10.9%	15,939		139	4.6%	4.6%	973		705		875
Europe		558	20.9%	7.7%	416	23.0%	9.5%	8,746		141	15.1%	2.6%	990		495		543
Visa Inc.		2,755	13.0%	8.7%	2,018	15.6%	11.1%	38,062		737	6.6%	2.5%	5,320		2,915		3,266
Visa Credit Programs
US		$460	10.0%	10.0%	$446	10.3%	10.3%	5,418		$15	0.9%	0.9%	15		265		335
International		725	16.0%	9.3%	673	16.6%	10.1%	9,004		51	8.1%	0.8%	206		676		754
Visa Inc.		1,185	13.6%	9.6%	1,119	14.0%	10.2%	14,422		66	6.4%	0.8%	221		942		1,090
Visa Debit Programs
US		$541	9.9%	9.9%	$417	11.5%	11.5%	10,520		$125	5.0%	5.0%	958		440		539
International		1,029	14.2%	6.9%	482	23.5%	12.9%	13,119		546	7.0%	2.1%	4,141		1,533		1,637
Visa Inc.		1,570	12.7%	8.0%	899	17.6%	12.2%	23,640		671	6.7%	2.7%	5,099		1,974		2,176

2

						For the 12 Months Ended March 31, 2019
		Total	Growth	Growth	Payments	Growth	Growth	Payments		Cash	Growth	Growth	Cash
		Volume	(Nominal	(Constant	Volume	(Nominal	(Constant	Transactions		Volume	(Nominal	(Constant	Transactions		Accounts	Cards
		($ billions)	USD)	USD)	($ billions)	USD)	USD)	(millions)		($ billions)	USD)	USD)	(millions)		(millions)	(millions)
All Visa Credit & Debit
Asia Pacific		$2,430	4.9%	7.1%	$1,936	7.6%	9.7%	28,238		$494	(4.5%)	(2.3%)	4,113		3	4
Canada		287	5.9%	8.4%	265	6.1%	8.6%	3,770		22	3.5%	5.8%	45		63	62
CEMEA		1,114	1.9%	8.1%	437	14.3%	22.0%	17,239		677	(4.7%)	0.7%	4,873		3	3
LAC		952	(7.5%)	7.7%	408	(3.0%)	15.8%	13,462		544	(10.5%)	2.3%	4,802		2	2
US		4,363	9.3%	9.3%	3,792	10.5%	10.5%	69,623		571	2.0%	2.0%	3,758		6	6
Europe		2,252	2.9%	7.0%	1,686	4.9%	8.3%	37,988		566	(2.7%)	3.5%	4,237		1,518	1,667
Visa Inc.		11,399	4.7%	8.1%	8,524	8.0%	10.6%	170,320		2,875	(4.1%)	1.3%	21,827		1,595	1,745
Visa Credit Programs
US		$2,040	8.8%	8.8%	$1,984	9.1%	9.1%	24,161		$57	0.2%	0.2%	61		-	-
International		2,946	4.3%	9.0%	2,744	4.9%	9.6%	40,180		202	(3.5%)	0.5%	879		976	1,124
Visa Inc.		4,986	6.1%	8.9%	4,728	6.6%	9.4%	64,341		259	(2.7%)	0.4%	940		976	1,124
Visa Debit Programs
US		$2,323	9.8%	9.8%	$1,809	12.2%	12.2%	45,463		$514	2.2%	2.2%	3,697		-	-
International		4,090	0.4%	6.2%	1,988	7.8%	12.1%	60,516		2,102	(5.7%)	1.2%	17,191		2,057	2,244
Visa Inc.		6,412	3.6%	7.5%	3,796	9.8%	12.1%	105,979		2,616	(4.3%)	1.4%	20,887		2,057	2,244

						For the 12 Months Ended March 31, 2018
		Total	Growth	Growth	Payments	Growth	Growth	Payments		Cash	Growth	Growth	Cash
		Volume	(Nominal	(Constant	Volume	(Nominal	(Constant	Transactions		Volume	(Nominal	(Constant	Transactions		Accounts		Cards
		($ billions)	USD)	USD)	($ billions)	USD)	USD)	(millions)		($ billions)	USD)	USD)	(millions)		(millions)		(millions)
All Visa Credit & Debit
Asia Pacific		$2,317	8.0%	5.8%	$1,800	10.6%	8.8%	24,632		$517	(0.4%)	(3.3%)	3,879		887		987
Canada		271	11.0%	8.4%	250	11.1%	8.5%	3,360		22	9.9%	7.4%	44		58		64
CEMEA		1,093	12.3%	8.8%	382	28.3%	22.7%	14,182		710	5.3%	2.6%	5,003		342		336
LAC		1,029	8.2%	6.3%	420	13.0%	11.4%	12,146		609	5.2%	3.1%	4,702		428		462
US		3,990	9.7%	9.7%	3,431	10.6%	10.6%	64,451		559	4.4%	4.4%	3,941		705		875
Europe(1)		2,189			1,608			33,282		582			4,236		495		543
Visa Inc.		10,890	15.7%	13.9%	7,891	18.2%	16.4%	152,053		2,999	9.7%	7.4%	21,805		2,915		3,266
Visa Credit Programs
US		$1,875	11.8%	11.8%	$1,819	12.4%	12.4%	22,513		$56	(4.0%)	(4.0%)	64		265		335
International		2,825	15.2%	12.8%	2,615	15.5%	13.3%	36,253		209	11.2%	7.4%	892		676		754
Visa Inc.		4,699	13.8%	12.4%	4,434	14.2%	12.9%	58,766		266	7.6%	4.7%	956		942		1,090
Visa Debit Programs
US		$2,115	7.9%	7.9%	$1,612	8.7%	8.7%	41,937		$503	5.4%	5.4%	3,877		440		539
International		4,075	22.7%	19.3%	1,845	40.8%	35.6%	51,349		2,230	11.0%	8.2%	16,972		1,533		1,637
Visa Inc.		6,190	17.2%	15.0%	3,457	23.7%	21.3%	93,287		2,733	9.9%	7.7%	20,849		1,974		2,176

(1)Europe payments volume growth, when including Europe in prior periods before the Visa Inc. acquisition, is 10% Constant USD and 13% Nominal USD

3

2. Cross-Border Volume

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.

	Growth	Growth
	(Nominal	(Constant
Period	USD)	USD)
3 Months Ended
Mar 31, 2019	(2%)	4%
Dec 31, 2018	3%	7%
Sep 30, 2018	8%	10%
Jun 30, 2018	15%	10%
Mar 31, 2018	21%	11%
12 Months Ended
Mar 31, 2019	6%	8%

3. Visa Processed Transactions

The table below represents transactions using cards and other form factors carrying the Visa, Visa Electron, V PAY, Interlink and PLUS brands processed on Visa's networks.

	Processed
	Transactions
Period	(millions)	Growth
3 Months Ended	32,544	11%
Mar 31, 2019
Dec 31, 2018	33,931	11%
Sep 30, 2018	32,763	12%
Jun 30, 2018	31,728	12%
Mar 31, 2018	29,321	12%
12 Months Ended	130,967	12%
Mar 31, 2019

4

Footnote

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.

On occasion, previously presented information may be updated. Prior period updates, if any, are not material.

Europe is reported and included in Visa Inc. results effective with the 3 months ended September 2016. 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.

5