Visa processes a staggering share of American card spending, and its CFO just delivered the most direct read yet on whether everyday consumers are holding up or quietly cracking under the surface.
Visa, one of the giants of the payments market, just announced its results for the last quarter. People are making cashless transactions more frequently and for larger amounts.
Visa posted better-than-expected results in its fiscal fourth quarter ended Sept. 30 as consumers continued to use payment cards for travel, shopping and dining despite inflation and uncertainty in the global economy. Results from the world's largest payment processing company point to the resilience of US spending, supported by steady...