Visa reports Febrary U.S. payments volume up 11% y/y

In a regulatory filing out earlier, Visa provided volume and transaction data for January and February 2023. As previously disclosed, in March 2022, Visa suspended operations in Russia February U.S. payments volume on a year-over-year basis was up 11%. Credit grew 10% and Debit grew 11%. February card not present volume on a year-over-year basis was up 12%, card not present volume excluding travel was up 10% and card present volume was up 9%. February payments volume year-over-year growth for several key international markets was moderately stronger than fiscal first quarter 2023 year-over-year growth. February cross-border volume excluding intra-Europe transactions was 148% of 2019, with card not present volume excluding travel at 180% of 2019. Total card present and card not present travel cross-border volume excluding intra-Europe transactions was 131% of 2019. January and February travel cross-border volume into and from our Asia Pacific region continued to improve relative to 2019 levels, while travel cross-border volume into the U.S. improved at a more modest pace. February global processed transactions grew 12% year-over-year.