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V - Visa Inc News Story

$195.24 1.0  0.5%

Last Trade - 29/05/20

Sector
Technology
Size
Large Cap
Market Cap £337.01bn
Enterprise Value £346.09bn
Revenue £19.35bn
Position in Universe 11th / 6364

BREAKINGVIEWS-Payment companies will emerge as lockdown winners

Fri 3rd April, 2020 9:39am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Lisa Jucca MILAN, April 3 (Reuters Breakingviews) - Reluctance to touch banknotes and fewer chances to spend them are speeding the shift to digital money. The $1.9 trln global industry will take a short-term hit from lower volumes. But once the pandemic eases, cash will be less relevant. The likes of Adyen and Nexi should benefit. Full view will be published shortly. On Twitter https://twitter.com/LJucca CONTEXT NEWS - The number of cash withdrawals on the UK’s LINK network fell to 21.2 million in the week ending March 29, down from 36.3 million in the previous week, according to data published by the ATM operator. Customers withdrew 1.08 billion pounds, down from 1.81 billion pounds a week earlier. - Payments volumes on Visa’s U.S. network in the month to March were down 4% on the same period of 2019, the payments operator said in a regulatory filing on March 30. Cross-border volumes were down 19% year-on-year in March, Visa said. - Shares in Dutch mobile and digital payments provider Adyen were up 1.3% for the year as of April 2. Italian payments company Nexi, which listed last year, is down 1.5% over the same period, while rival Worldline is down 17.3%. The benchmark STOXX Europe 600 index has dropped 25%. - Global payments revenues totalled $1.9 trillion in 2018, up 6% from the previous year, according to a report by McKinsey. - For previous columns by the author, Reuters customers can click on JUCCA/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ UK LINK data https://www.link.co.uk/about/statistics-and-trends/ Visa filing http://d18rn0p25nwr6d.cloudfront.net/CIK-0001403161/c35fa656-8fe6-4759-bee4-c252bbb92e27.pdf McKinsey report https://www.mckinsey.com/~/media/mckinsey/industries/financial%20services/our%20insights/tracking%20the%20sources%20of%20robust%20payments%20growth%20mckinsey%20global%20payments%20map/global-payments-report-2019-amid-sustained-growth-vf.ashx ECORYS report https://ec.europa.eu/info/sites/info/files/economy-finance/final_report_study_on_an_eu_initative_ecorys_180206.pdf ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Peter Thal Larsen and Oliver Taslic) ((lisa.jucca@thomsonreuters.com ; Reuters Messaging: lisa.jucca.thomsonreuters.com@reuters.net))
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