Visa's monthly volumes report is a good indicator of how well the global consumer is doing. I am happy to tell you that in their latest update, things look pretty robust. According to CEO Ryan Mclnerney (pictured below), payment volumes in the US are up 5% through August, and cross-border volume is in line with their already optimistic forecast.
These positive trends seem to be consistent all over the globe except for Asia Pacific where volumes and cross-border trends are still below 2019 levels. Wow, post-Covid China really needs to change things up. Less regulation would be a good start.
Mclnerney is confident that Visa can maintain its 10% plus, year-on-year growth rate, for many years to come. With net margins above 50% and such consistent growth, we are very happy shareholders of this wonderful business.