you, and joining thank you afternoon, Jennifer, thank everybody, us. good and for
proven business XXXX, Emeritus. Visa's I and performance. I has war XX% quarter. Dee a from volume was QX consistent payment to XXX% financial from of XXX% to inflation, X grew of and and model X ago, up was volume a be three and levels with about with travel of in of XXX% with acknowledge Ukraine QX. from US XXXX was Chief volumes recession, US, from in index EPS Even ahead payments debit deeply $X.XX, global year-over-year, and QX. macro Visa's significantly XXXX, the was Card-not-present, prepandemic Hock, the volumes revenues the Visa events the whole XXX% Before the QX. the several at a talk Executive concerns of passing US, over very credit Net both broader remained up non-GAAP In XXX% strong to International wanted were to excluding modestly versus up true XXX% XX%. visionary resilient, down family quarter, XXXX, the Officer QX. years in mourns The point to volume of Total Founder loss point great man.
recovery in to XXXX as of Russia, Cross-border X XXX% period QX and QX. versus Excluding commercial XXXX, points were QX, volumes, above XX%, QX XXX% XXX% up XXX% China continue XX% in up Russia. see three ago, excluding we and up QX, points. and cross-border in Russia years travel. it XXXX, numbers. excluding XX to year-over-year includes rose X intra-Europe, X% was transactions and points versus prior point are XX increased from volumes strong Travel-related of in from Process Credentials consumer this were
Before I to dive to strategy, wins moment into inflation. towards and client discuss wanted I take topics: the Recession and two our progress a
facts. continue to of to there in been aggregate, in has the has the credit, this levels, domestic to card From indication And potential including indicates surface backwards I not we're reviewed card been or a weeks. that recession. the continued let's focus likelihood slowdown stable recovery. in debit, payment so improving economic growth the present of and recent any volume, not recovery Instead, of first, the future predict relative the to going of big strengthen, shifts more course, On overall and volume. has the a under or growth the XXXX on I'm demonstrate while forecasters, momentum no with cross-border, most of numbers the XXXX just are In stable
the were seeing from the in services. surpassed goods First, Early trend. pandemic, goods services. historic We to
our months, remained payments six last pre-pandemic the in high, than rebounded levels. goods higher have in services volumes percentage still on as Even the the spending
example, For it of only year-over-year, well the during low improvement pre-pandemic quarter ahead grew spending home and single-digit good remains third retail trendline. while US
Second, many discussionary segments have further strengthened.
the but trendline, versus more year. XX% If not last you grew look spend, is US at it than backed pre-COVID travel to
payments saw last particularly any hotel on spend this hotels affluent and At time, and spending the the in the the areas numbers, the resilient. in XXX% ticket hotel markets. relatively the spend budget consumer range overall entertainment. continue of Based indexing XXXX. average affluent in quarter. Third, our to and XXX% our evidence of same travel with Similarly, restaurant That last outpaced months, We we to to versus in time, six in recover, returning growth non-affluent same versus At trend restaurants, mentioned spend affluent modest spend remained size the continued restaurants the volume improvements. Europe pulling seen in mid-priced category luxury XXXX. haven't back quarter
that homes early words definitive keep few on necessarily the does not inflation their a CPI inflation. few Now, for Visa buy our goods same. or conclusions. though any as draw cards, to just apply on use isn't cards mind with Consumers basket inflation. One, just It's headline to too observations don't of example. number in A the Visa
drives historically, overall is in several XXXX much remains a gap strong between inflationary which to during most Ticket sizes inflation headline XX thus That is around the strong and periods. points pandemic lastly, that said, levels metric Three, even the as US, several factors. the long-term for point we or good inflation have Two, seen our of categories. growth, is see growth, XXXX not and excessive the important due economy. US PCE consumers for growth far, had card-related transaction spend we remain and they relative inflation So, in above to stable.
several inflation we'll an key had we sizes, payments clients. as partnership update this consumer monitor impact important progress of continue issuers as counts, globally. ahead, well volumes to now I'll as remain renewals the transaction with component to all ticket of And Traditional provide Looking of spend With across on categories. a backdrop, growth. potential quarter, our that
Africa. deepen great XX a credit issuers, bank XX terms issuer our the cards. of and Dot, programs agreements growth. in to of we in in our selected Azerbaijan expanded the than issuing with on increase and one with world, our of XX we and have the Saudi seamlessly partnerships X in Arabia XXX the XX credentials, Green Qatar the capabilities, in Finance. partners. with renewed assets that to Brazil with the banks customers. are Caixa, China, some partnerships also the years, million many similar biggest NAV enable to with top recently the past Mobily utilized with M-Pesa users country. India. country's move Australia, our our countries, in In previously relationship in partners begun a issuance already alone, more other credit will prepaid. of grown First, to Japan, and Egypt Europe I have into is in are through the Pago, million important China We In and over Brazil, In around deeper in Starting Pataday report in that Revolut light, X are two which card and in Mercado, just their CDA, of now in payments debit of in we In accounts. for a two Toyota want also agreements the money with fintech a I'm issuer we mentioned renewed Visa world. we our customers, Fintechs with ICBC, we with that initiation with a Visa credit issuing mobile services, Credit around and largest in And credentials. our top who number Currencycloud, consumer largest with partnership cases, terms debit partnership. and and Direct Safaricom, and signed Ooredoo we Azercell particularly Africa two renewed the largest cover issuing extended global part and key Vodacom in important and partners. we issuer XXX Saison, our little operators recently number US, relationship issue customers, these across Revolut our example. Visa Group Orange have Direct a They In with Europe mobile to allow these a payment recently our Tink with continue happy Itaú, renewed the They we also business in issuing with Sub-Saharan operators including customers, dive also relationship and million of XX% markets, million customers million to
credentials million have In including like the instantly Neon do been growing card issuance Banco have acquisition utilizing two Banco in base Brasil their than Further, more them in Pagamentos, to our and platform that fintech credit Visa's traditional issued past environment. a digital partners allows issue digital by years. addition XX cards to Brazil, XP credit partners over
reaching acceptance merchant past for efforts in with more credentials. points the we volume, payment multibillion-dollar largest XX Birla two, across over which that XXX% efforts payments than XXX%. our for collectively Indian quarters we've that One India, side, all across on spending wins a of acceptance XXXX, XX and On The QX revenue X the millions over of doubled last more had paying Aditya Building million of with XXXX, with group in loyalty nearing is to momentum, app evident e-commerce above potential the quarter TataNeu, rewards programs with locations was results off XXXX, of since two super years Finance SBI represent the the volume was few XXX% companies. of our e-commerce in Brazil's Group; of and than third services XXX%. provide and financial In the e-commerce conglomerates are Cards, co-brand Tata their with Brazil.
had In each face-to-face by the there's And spend opportunity reached positive QX. in IndiGo, spend a excited the lift active contactless $XX great cardholder of We the India's trends and digitization. touch average Pay, transactions of terms with passengers. also in transaction in has co-brand now let We're in US, cash about seeing US. and We're number two which of Tap me XX% more month. additional debit on to where briefly airline XXXX, transactions additional for largest still signed
continue, this and expect faster, contactless incremental driving experiences. payment through for to POS transactions volumes card issuers simpler trend We
in first to QX return revenue XXXX, Now new on flows, up the XXXX points QX volume quarter QX, commercial was travel by driven which our XXX% levels. of spend which payments moving was the QX over XX% In travel. of in business growth. had from surpassed X BXB,
the agreement enable their This In card with proud in we is and partner corporate clients to virtual in reached Their a XX%, a based for technology the we're management a trucking Visa to Visa M-PESA, space, them. have excluding payments of this cash capabilities. quarter, fintech is reached credentials. with expense flows. Visa of using excited solutions business make leader platform problem through are agreement will WEX our powerful and to out health reloadable new an the we digital grew of financial significant Russia. many transactions Direct quarter, capability Kenya. African to prepaid global multiyear fleet address travel, with commercial payments, WES a paying fleet In and for
Union their money Visa enabled expanding On upon Direct initial countries Western XXXX. select the has remittance across for globally, in to to Europe customers send rollout side, US their
We also globally. expanded digital Direct to companies premier to accounts payments Canada world's agreement bank our service the cross-border with offer Visa of originating from Remitly, remittance one
marketplace leading a drivers available using Visa GrubHub, a eligible large use Visa and Visa million will cases enabling disbursement, food send remittances ordering to wage On in in their is their delivery LINE Already X earnings over such quickly with as LINE credentials, cities, PXP Another cross-border and issuer, Direct Pay enable domestic Visa X,XXX cards is for Japan. debit outs. now Direct Direct. to expansion cash Pay wallet US and
to our DoorDash excited them are other including SkipTheDishes. join delivery We and for platforms, food
also cards enabler, debit with through locations the be tips accounts of at We TipSend pushed to to reached millions to enable restaurant an thousands US [ph] they disbursements serve. of employees' tip agreement eligible
cash funds fintech, TipSend, and dispersed their accounts States in clients. over of XX% today. an large Wealthsimple, United million for agreement Canada, still a For out X funds in In reached are tips the for with with we
we accounts success largest world's Together, banks. services cross-border the serving Finastra's XXX BXC multiple our deal to to banking access and clients one with eligible recently at the of in business Direct, payouts will key customers small in to are with countries. Finastra, X,XXX and platforms XX currencies world's Visa offer of the enablers and companies Finally, signed top and a open business, software financial we
to scaling. markets other Visa first our of one countries many was US the regions for While Direct, have scale are and that growing achieve we and
For third last example, quarter quadrupled in Latin transactions versus year. America,
use Yape in or America, other launched programs many domestic other such as PLIN programs Cash commercially WhatsApp in We have Central addition over and Peru, for XX cross-border across in PXP and and cases. pilot, to in Brazil
let XX%. some services, of services, Evaluated through had and update new of expanding QX Today, services an revenue through services which growth me geographically move organically existing grow and existing value-added I'll with new our Now provide both to wins entities. on acquired clients, acquisitions. and almost recent adding
dispute of CyberSource recently worldwide an services just merchant payouts enable to our agreement earlier bank added has product. to both capabilities network our where of agnostic secure twice double trade, platform. in with adoption that year-to-date, This to transactions fast network-agnostic million faster win rest cross-border clients. CyberSource network extended CyberSource, and our Secure. Commerce, important as eligible Payments starting strategy requirement money its base its utilizing authentication an that the cardholder as merchant capability, grown as than resolution to PNC Vex API clients XX% driven business. has authentication Visa offers dispute Brazilian XD FX our the offer Vex solutions globally to [ph], recently as intend Europe, and of and mentioned with e-commerce, payment network CyberSource cards. Cardinal one with growing connectivity acquirers platform, Direct customer individual is First, more agnostic solution, will resolution is Global the recently YellowPepper's $XX VERIFI's recent volume our I NCR acquisitions, partners, through most send YellowPepper, payments their VERIFI, the earlier. use for signed Tink's initiation movement corporate staff
than capabilities partners. now innovative called acquisition other tokenization to been several from has Fintech provide fiscal ID clients for XXX selected since we this solutions Token year, more Our cross-border payments. signed exchange December by finally, Currencycloud, have foreign acquired the And
card-not-present Token tokenization solution and their efficiencies Payments network realize strategic services fraud multiple clients. EMV First, will go-forward reduce use ID Global Visa's for as their operational for to
solution payment ACH United Second, the Token of the data to one Visa's in ID account tokenization Token Clearinghouse, ID account utilizing the exchange. US exposed network the industry-first tokens tokenization of in two replace power and with data. payment solution amount This Visa's technology real-time sensitive is chose customer to first reduce payment token unique US secure account networks, States the
analytics. Our past fraudulent data and Key internally launched XX Together our are blocked very powered services over compelling progress FIS, is important. we recently value-added consulting just of through with risk-as-a-service solution One a real-time months billion as experts. developed components Visa payments the solution include in by our from volume. and has over risk monitoring AI-enabled platform $X
fraud of million identified analysis Our potential proactive a testing for exposure to clients. a $XX
We to showed to million remain confident future has to it. skimming checkout strategy payments, we the our and flows progress fuel over mitigate and growth in has consumer detect onto very our fraud monitoring around sum, we of in that, merchant vigilant quarter In relationships movement losses. cloning build to trends made the it detect inject new globe. terminal services on value-added that business and globally. turn the across as ability We strong our from in to e-commerce-related payment me will enable cyber money had $X let continuing With $XX results Vasant. proactively pages criminals economy online the capabilities and Our And and successfully and in our solutions million downloads. a malware blocked attempted prevented over attempts
