FOSTER CITY, Calif.—Contactless cards are expected to claim a growing number Visa transactions, the company reports.
Visa said it saw payment volume growth of nearly 11% in the final quarter of 2018, adding that it sees “ever-more contactless cards” and volume on its Visa Direct real-time payments service in its future.
Visa reported a solid first quarter of fiscal 2019 despite the beginning of the U.S. federal-government shutdown, Brexit worries in Europe, and weakening cross-border payment growth, Digital Transactions reported.
Worldwide payment volume totaled $2.2 trillion, up 10.7% year-over-year on a constant-currency basis. In the U.S., quarterly payment volume grew 10.6% to $980 billion from $886 billion the year before, Digital Transactions said.
Visa CEO Alfred F. Kelly said contactless transactions continue to be a major growth focus, both in the U.S. and abroad.
"Excluding the U.S., 44% of domestic face-to-face transactions that run over our network are now tap-to-pay," Kelly said in a Digital Transactions report.