The following is a summary of the Visa Inc. (V) Q1 2024 Earnings Call Transcript:

Financial Performance:

Visa reported an 8% YoY growth in payment volume during Q1 with U.S. and international payments volume growing 5% and 11% respectively.
The overall processed transactions and net revenues also reflected a 9% growth.
Cross-border volume, excluding intra-Europe, rose 16% YoY in constant dollars.
Visa noticed a 20% increase in GAAP EPS and reported non-GAAP EPS as being up by 11%.
The company bought back approximately $3.4 billion in stock and distributed over $1 billion in dividends to stockholders during the first quarter.
No material changes to prior outlook for drivers, adjusted net revenues or EPS growth with net revenue growth and non-GAAP operating expense growth expected to be in the low double digits, and adjusted EPS growth in the low teens.

Business Progress:

Visa expanded its credentials by 6% and network tokens by 55% to 8.7 billion.
It also broadened acceptance locations by 17% and increased the penetration of tap to pay to 77% globally, except the U.S., and 45% within the U.S.
By renewing contracts with partners such as Bank of America and by signing new contracts with firms like Bcash, Visa was able to grow its Visa Direct transactions by 20% to $2.2 billion.
The company announced a new global partnership with HSBC for their fintech initiative Zing and made acquisitions like Pismo and Prosa, and announced partnerships like ServiceNow.
Visa continues to aggressively strategize to onboard ‘hundreds of millions’ of small businesses not on their network yet, along with focusing on bringing 1 to 3 billion individuals into its ecosystem and transitioning banks from legacy tech stacks to the cloud.
Visa has also initiated strategic sponsorships like FIFA and Red Bull Formula One.