US-based payments processor Visa has reported a 6% year-on-year rise in its GAAP net income to $3bn for the fourth quarter of fiscal year 2019.

Net revenues were $6.1bn for the three-month period ended 30 September 2019, up 13% from last year. The increase was nearly 15% on a constant-dollar basis.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The company attributed the revenue growth to rise in payments volume, processed transactions as well as cross-border volume.

On a constant-dollar basis, payments volume grew by 9% while cross-border volume growth was 7%.

The company also reported an 11% year-on-year increase in total processed transactions to 36.4 billion.

Fiscal fourth quarter service revenues stood at $2.5bn, a 9% rise compared to last year. Data processing revenues surged 16% to $2.8bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

International transaction revenues rose by 11% to $2.2bn, while other revenues of $345m were 35% higher than a year ago.

Visa chairman and CEO Alfred Kelly said: “The fourth quarter capped a strong fiscal 2019 with net revenue and adjusted EPS growth of 13% and 21%, respectively.

“During the year, we extended and expanded partnerships with a significant number of our largest clients globally while also establishing new partnerships with emerging companies across the payments ecosystem. These partnerships, combined with four acquisitions and substantial organic investment, greatly expand our reach and capabilities to fuel future growth.”