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Visa’s reach in digital payments

Visa, one of the world leaders in digital payments, facilitates worldwide commerce and the movement of money in more than 200 countries and territories between a global set of consumers, merchants, financial institutions and government entities through innovative technologies.

Since Visa’s inception in 1958, the company has been dedicated to facilitating payments between consumers and businesses.

As a trusted driver of commerce and new ways to pay, Visa is working to deliver payment solutions for everyone, everywhere.

The company is focused on expanding, enhancing and investing in its proprietary network, VisaNet, to provide a single point of connection that facilitates payment transactions to multiple end points across multiple form factors.

Through its network, Visa offers products, solutions and services that facilitate the secure, reliable and efficient movement of money for ecosystem participants.

As the payments ecosystem continues to evolve, Visa has expanded this model to include digital banks, digital wallets and a range of financial technology companies (fintechs), governments and non-governmental organisations (NGOs).

It provides transaction processing services (primarily authorisation, clearing and settlement) to its financial institution and merchant clients through VisaNet, its advanced transaction processing network.

Digital payments

During the 2022 financial year ended 30 September, the company processed 258 billion Visa-branded payments and cash transactions, which equates to an average of 707 million transactions per day.

Of the 258 billion total transactions, 193 billion were processed by Visa.

The company also offers a wide range of Visa-branded payment products which its customers, including nearly 15,000 financial institutions, use to develop and deliver core business solutions, including credit, debit, prepaid and cash access programmes for individual, business and government account holders.

During FY2022, Visa’s total payments and cash volume was $14 trillion, and 4.1 billion credentials were available worldwide for use at more than 80 million merchant locations, in addition to some 20 million locations through payment facilitators.

 

Redacción Opportimes

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