Visa Archives - CFO

Visa Buys Tink in $2.1B Open Banking Play

Visa Buys Tink in $2.1B Open Banking Play

Sweden's Tink offers Visa an entrée to a fast-growing market that "has the potential to create an alternative" to debit- and credit-card networks.

By Matthew Heller | June 24, 2021

Visa Beats Estimates on Online Shopping Surge

Financial Performance

Visa Beats Estimates on Online Shopping Surge

“Our performance in the fiscal first quarter reflected solid results and continued positive momentum in a challenging COVID-19 environment."

By Matthew Heller | January 29, 2021

Visa Calls Off $5.3B Merger Deal With Plaid Over DOJ Lawsuit

Visa Calls Off $5.3B Merger Deal With Plaid Over DOJ Lawsuit

The U.S. Department of Justice said the transaction would eliminate healthy competition from the online payments market.

By Lauren Muskett | January 13, 2021

Visa Beats Estimates as Travel Slump Continues

Financial Performance

Visa Beats Estimates as Travel Slump Continues

“The recovery so far has been uneven, V-shaped for domestic volumes but L-shaped for cross-border volumes,” CFO Vasant Prahbhu says.

By Matthew Heller | October 29, 2020

DOJ Considers Blocking Visa’s Acquisition of Fintech Firm Plaid: Report

Risk & Compliance

DOJ Considers Blocking Visa’s Acquisition of Fintech Firm Plaid: Report

The proposed transaction is being reviewed over antitrust concerns.

By Lauren Muskett | October 28, 2020

Visa Profit Drops 23% as Card Spending Slows

Financial Performance

Visa Profit Drops 23% as Card Spending Slows

Payments volume improved as the third quarter progressed, reflecting the easing of shelter-in-place orders in the U.S.

By Matthew Heller | July 29, 2020

Visa Makes Fintech Move With $5.3B Plaid Buy

Visa Makes Fintech Move With $5.3B Plaid Buy

The deal gives Visa access to software that fintech app developers use to interface with customers' bank accounts.

By Matthew Heller | January 14, 2020

Visa Rolls Out Cross-Border B2B Network

Visa Rolls Out Cross-Border B2B Network

The move is part of Visa’s effort to push into the high-value cross-border transaction market.

By Lauren Muskett | June 11, 2019

Mastercard Buys Transfast After Earthport Rebuff

Mastercard Buys Transfast After Earthport Rebuff

“We believe Transfast gives us the strongest platform to immediately enhance our cross-border [payments] capabilities," Mastercard says.

By Matthew Heller | March 8, 2019

Visa, Mastercard Settle Long-Running Fee Suit

Risk & Compliance

Visa, Mastercard Settle Long-Running Fee Suit

The companies said they have already set aside funds to cover the penalty.

By William Sprouse | September 19, 2018

SEC Halts $600M Bank ICO Scam

Risk & Compliance

SEC Halts $600M Bank ICO Scam

AriseBank called itself the first "decentralized bank" and claimed to have acquired two FDIC-insured institutions.

By Vincent Ryan | January 30, 2018

Mastercard Profit Jumps 21% to Record $1.43B

Financial Performance

Mastercard Profit Jumps 21% to Record $1.43B

Strong consumer spending overseas helped drive Mastercard's gross dollar volume to $1.4 trillion in the third quarter.

By Matthew Heller | October 31, 2017

Home Depot Joins Battle Over Chip Card Security

Risk & Compliance

Home Depot Joins Battle Over Chip Card Security

The retailer says in an antitrust suit that Visa and MasterCard are trying to block the use of PINs to verify chip-card transactions.

By Matthew Heller | June 16, 2016

Wal-Mart Sues Visa Over Chip Card Verification

Wal-Mart Sues Visa Over Chip Card Verification

The retailer says Visa is encouraging fraud by requiring it to allow customers to verify transactions with a signature rather than a PIN.

By Matthew Heller | May 11, 2016

Square Stock up 8% on News of Visa’s Stake

Square Stock up 8% on News of Visa’s Stake

The disclosure of the size of Visa's 2011 investment fuels speculation about its plans with the mobile payments startup.

By Matthew Heller | February 16, 2016