Visa CFO Prabhu on Earnings, Economy, Contactless Payments

The transcript discusses the global trend of cash digitization, highlighting the significant amounts of cash yet to be digitized in both consumer and B2B sectors. It emphasizes the growing adoption of contactless payments, particularly in the US, where the transition has been slower compared to Europe and Australia. The discussion covers the implementation of EMV chips as a precursor to contactless payments, noting the benefits such as reduced fraud and increased consumer convenience. The narrative underscores the consumer preference for contactless payments and the ongoing efforts to roll out contactless cards in the US.

What is the estimated amount of cash in the consumer sector that still needs to be digitized?

• 10 trillion

• 17 trillion

• 20 trillion

• 50 trillion

Which country has the highest percentage of face-to-face transactions being contactless?

• Canada

• Australia

• United States

• United Kingdom

Why is the United States lagging behind Europe in contactless payment adoption?

• Lack of consumer interest

• Limited card availability

• Higher transaction fees

• Fragmented merchant technology setup

What was the first step in the US to prepare for contactless payments?

• Introducing mobile payments

• Increasing merchant incentives

• Reducing transaction fees

• Implementing EMV chips

What significant benefit did the introduction of EMV chips bring in the US?

• Higher consumer spending

• Reduced fraud

• Increased transaction speed

• Lower merchant fees