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What Visa earnings tell us about the state of the payments industry
Can we draw any conclusions about the state of the payments industry from Visa's financial results?
Upon meeting pre-agreed performance metrics (e.g. transaction growth), issuers and acquirers get part of the fees back (primarily in cash), which serves as a financial incentive (hence the name) to grow volumes on the network. Asia Pacific payments volume slowed to less than 0.5 point of year-over-year growth in constant dollars for the quarter, driven primarily by the macroeconomic environment, most notably in Mainland China.” I’d say currency exchange rate fluctuations and client incentives are the key reasons why using Visa’s revenue growth to make any broader conclusions about the economy is not correct.
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