Visa Hits A Milestone Highlighting Latest Consumer Dynamics

Visa Inc V issued over 4 billion network tokens worldwide through Visa Token Service (VTS), marking a significant milestone in its proprietary offering.
This historic milestone nearly doubled Visa's token count in one year, surpassing the number of physical cards in circulation worldwide.
"Tokenization is a simple yet powerful concept pioneered by Visa: conceal and devalue sensitive payment data to stay ahead of fraudsters and make digital payments more secure," EVP Jack Forestell said. "The uptick in issuers, acquirers, merchants, and consumers all transacting with Visa tokens reinforces that the future of money is truly digital, and digital money must be built on trust."
E-commerce volume has grown by more than 50% since the onset of the pandemic.
Visa Token Service, which replaces 16-digit Visa account numbers with a digital token only Visa can unlock, helps to protect the underlying account information from fraudsters and bad actors.
Visa clocked 19% revenue growth in Q3 to $7.28 billion, beating the consensus.
The growth in payments volume, cross-border volume, and processed transactions drove the numbers.
Visa reported quarterly earnings of $1.98 per share, which beat the estimate.
Price Action: V shares closed lower by 0.06% at $206.67 on Wednesday.
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