New York, United States – Visa Inc. recently participated in the Goldman Sachs Communacopia + Technology Conference on September 11, 2024. The conference featured Chris Suh, the Chief Financial Officer of Visa, in discussion with Will Nance from Goldman Sachs focusing on payments and fintech. Suh, with over 20 years of experience at Microsoft before joining Visa, shared insights into the company’s performance and trends in the payment industry.

Discussing the performance of Visa, Suh highlighted the stability in underlying trends and the resilience of consumers amidst economic challenges. He mentioned that while certain factors like employment uncertainty and rising costs could impact consumer spending, the overall outlook remains positive. Suh emphasized the stable performance of Visa in the U.S. and major markets worldwide, with consistent growth in payment volumes and cross-border transactions.

Looking ahead, Suh addressed the impact of the Federal Reserve’s potential rate cuts on credit interchange reductions and Visa’s business. He expressed disappointment in a recent ruling rejecting a settlement related to litigation, emphasizing Visa’s commitment to pursuing agreements beneficial for merchants of all sizes. Suh also discussed the significance of value-added services in enhancing client engagements, innovation, and overall growth in the business.

Furthermore, Suh touched on the opportunities presented by New Flows, highlighting the potential for growth in nontraditional payment flows. He underscored the importance of addressing manual processes and inefficiencies in commercial transactions through innovative solutions. Suh also shared insights on the evolving landscape of cross-border transactions, particularly in e-commerce and travel, pointing out a shift towards a more prominent role for e-commerce in Visa’s business.

In conclusion, Suh addressed the topic of incentives and their impact on gross revenue, noting a focus on aligning with clients to drive volume growth and net revenue. He emphasized Visa’s strategic approach to managing incentives and renewals while prioritizing business growth and client success. The discussion at the conference provided valuable insights into Visa’s performance, strategies, and outlook in the evolving payments industry.