V · Visa Inc. Q3 FY2026 earnings call record财报电话会记录

“We see the strength of these relationships in our consumer and commercial and money movement solutions business, with our credentials growing 8% year-over-year in the third quarter and our tokenized penetration nearing 60% of our e-commerce transactions globally.”

“Our commercial and money movement solutions revenue grew 17% year-over-year with 13% year-over-year commercial payment volume growth both in constant dollars as our product development continued to help us win business.”

“For years, DoorDash, the largest food and grocery delivery platform in North America, has been utilizing Visa Direct for Dasher payouts in the U.S., Australia, and Canada, as well as Visa virtual commercial cards to enable Dashers to pay for customer orders at physical locations.”

“In marketing services, over the last 12 months, we delivered more than 300 FIFA engagements to more than 240 unique clients, with about 20% of our clients utilizing our services for the first time, with far-reaching impact in our regions across 70 markets.”

“In the U.S., you likely saw some of our largest clients, such as Chase, Bank of America, Wells Fargo, and Marriott, activate our FIFA offerings and promotions for their customers to drive acquisition and loyalty.”

“payment volume grew 10% year-over-year, up about two points from Q2, a growth rate not seen since fiscal 2019, excluding the post-COVID recovery, with both card-present and card-not-present growth accelerating strongly.”

“We do not see signs of the lower spend consumer weakening in our volumes.”

“While we have a handful of client wins that have helped us since Q4 of FY 2025, the bulk of the strength in our commercial payments volumes has been from our underlying business in both domestic and cross-border portfolios, which we expect to continue well into the future.”

“In Q3, we bought back $4.9 billion in stock and distributed $1.3 billion in dividends to our shareholders.”

“As we move to our guidance, let me remind you that it is on an adjusted growth basis, defined as non-GAAP results in constant dollars and excluding acquisition impacts.”

“We expect Q4 net revenue growth in the high end of low double digits, similar to Q3 on an adjusted basis.”

“From memory, it was kind of like 9%-11% net revenue growth based on 15%-17% for CMS and VAS and 5%-7% for consumer payments.”