Visa's recovery may be related to the relaxation of social distancing requirements in various markets. And since its US payments volume grew 7% YoY in its fiscal Q4 2020 and was up 9% YoY in October through October 21, per CFO Vasant Prabhu on the company's .
This pales in comparison to the 13% YoY gross revenue growth it turned in in its fiscal Q4 2019, when its segment with the lowest growth boosted its performance 9% YoY. While Visa still brought in $6.
and other struggles, and it's possible these factors could boost debit's popularity even after the pandemic subsides.Contactless penetration grew to 43% of Visa's global face-to-face transactions, CEO Al Kelly said on the earnings call. This is likely due to consumers wanting to limit their contact with shared surfaces and several markets their contactless transaction value limits.
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