Visa - V STOCK NEWS

Visa (NYSE: V) will announce its fiscal third quarter 2024 financial results on July 23, 2024, after market close. The results will be filed with the SEC and posted on Visa's Investor Relations website. A live audio webcast will be hosted by Visa's executive management team at 2:00 p.m. PT (5:00 p.m. ET) to discuss the financial results and business highlights. The webcast will be available for replay for 30 days. Currently, Visa is in a 'quiet period' and will not interact with the investment community until the earnings are released. Visa is a global leader in digital payments, facilitating transactions across more than 200 countries and territories.

Visa has partnered with Amazon to offer installment payment options to Canadian customers. This new feature is available to eligible Royal Bank of Canada (RBC) and Scotiabank credit cardholders. They can now choose to pay for Amazon purchases in smaller, fixed payments over time. According to Visa research, 58% of Canadians are interested in using installment payments, and it is projected that by 2026, installments will account for nearly one-quarter of global e-commerce transactions. Visa aims to meet the growing demand for flexible payment options, providing a better end-to-end payment experience for Canadian consumers.

Visa (NYSE: V) has announced a new service, Digital Emergency Card Replacement, aimed at improving travel experiences by offering digital card replacements via text or email. This service allows cardholders to quickly authenticate and add the new card to their digital wallet, ensuring instant and secure access to funds. The initiative addresses common travel inconveniences and aims to boost customer satisfaction for card issuers. Visa also provides tips for travelers, such as pre-loading Visa cards into digital wallets and activating transaction alerts. The new service is part of Visa's Global Customer Assistance Services, which supports card issuers with rapid card production and delivery across five continents, managing over three million multilingual interactions annually.

Visa (NYSE: V) has relaunched its Visa SavingsEdge program to provide greater value to small businesses in the U.S. and Canada. The enhanced platform introduces new features and offers, including a refreshed website, real-time cashback notifications, and a cash-back tracker. According to Visa, 77% of surveyed U.S. SMBs project revenue growth for 2024. Visa SavingsEdge now includes Instant Coupons and Cashback Offers across various categories such as travel, restaurants, and electronics. Cardholders must re-link their eligible Visa Business cards to access these features.

Visa has launched a new brand film, “Prodigies,” featuring renowned figures such as Pharrell Williams, Sky Brown, Iga Świątek, and Daniel Ricciardo. The campaign emphasizes the hard work and persistence required to achieve success, dispelling the myth of overnight success. This film is part of Visa’s broader message that small, consistent steps lead to greatness. The campaign will air globally, starting in North America on June 15th and extending to CEMEA regions in July, coinciding with the Olympic and Paralympic Games.

Visa's third annual 'Money Travels: 2024 Digital Remittances Adoption' report underscores the increasing importance of digital remittances, especially for humanitarian support. Surveying nearly 45,000 remittance senders and receivers across 20 countries, the report highlights the preference for digital apps in money transfers, with 43% facing no issues versus higher issues in physical remittances. Despite a year-over-year decline in global remittances due to economic challenges, the outlook remains positive. The study reveals varying motivations for sending remittances, with significant findings on hidden fees in physical payments and country-specific trends in remittance flow.

Visa has issued its 10 billionth token, generating over $40 billion in incremental e-commerce revenue globally. Tokenized payments have saved $650 million in fraud over the past year. Visa’s tokenization technology, launched in 2014, has successfully integrated across 29% of all transactions processed by Visa. Tokenization enhances security by replacing sensitive data with cryptographic keys, reducing fraud by up to 60% and improving payment approval rates globally. This milestone was announced at Money20/20 in Amsterdam, highlighting Visa’s commitment to secure digital payments and future innovations powered by AI.

ezCater, a leading food for work technology company in the US, has appointed Kaushik Subramanian as Chief Revenue Officer, effective June 3, 2024. Subramanian brings over 20 years of experience from high-growth companies like Lyft, Amazon, and Visa. As CRO, he will oversee sales and partnerships, aiming to expand ezCater's platform and increase the growth of its food solutions among workplaces.

Subramanian's role comes at a time when demand for workplace food is rising, with 53% of surveyed business orderers planning to increase their food spending in 2024. This year, ezCater has added notable restaurants and companies as partners and customers. Subramanian previously held senior leadership roles at Lyft, Amazon, and Visa, managing strategic partnerships and launching new products. His extensive experience is expected to drive ezCater's growth and solidify its position as a top choice for workplace food solutions.

SKUx has announced a partnership with Visa to accelerate digital transformation for merchants and consumer packaged goods (CPG) companies. The collaboration aims to enhance customer acquisition, loyalty, and consumer care through SKUx’s digital payment solutions. SKUx’s platform, which uses Hedera’s distributed ledger technology (DLT), reduces fraud and inefficiency in the consumer offer industry, with benchmarked results showing up to 85% reductions in paper checks and near real-time digital payments. Visa clients will have the opportunity to engage directly with SKUx, driving value creation in B2B and B2C payment flows. This partnership is expected to enhance Visa’s services and improve customer experiences.