{"id":492545,"date":"2022-09-13T04:36:00","date_gmt":"2022-09-13T01:36:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/the-ratings-game-consumer-spending-has-been-remarkably-stable-visa-cfo-says\/"},"modified":"2022-09-13T04:36:00","modified_gmt":"2022-09-13T01:36:00","slug":"the-ratings-game-consumer-spending-has-been-remarkably-stable-visa-cfo-says","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/the-ratings-game-consumer-spending-has-been-remarkably-stable-visa-cfo-says\/","title":{"rendered":"#The Ratings Game: \u2018Consumer spending has been remarkably stable,\u2019 Visa CFO says"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e2155b50b0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e2155b50b0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/the-ratings-game-consumer-spending-has-been-remarkably-stable-visa-cfo-says\/#%E2%80%9CThe_Ratings_Game_%E2%80%98Consumer_spending_has_been_remarkably_stable_Visa_CFO_says%E2%80%9D\" >&#8220;The Ratings Game: \u2018Consumer spending has been remarkably stable,\u2019 Visa CFO says&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/the-ratings-game-consumer-spending-has-been-remarkably-stable-visa-cfo-says\/#Company_still_sees_%E2%80%98long_runway_ahead_as_it_looks_to_convert_cash_to_electronic_payment_forms\" >Company still sees \u2018long runway ahead\u2019 as it looks to convert cash to electronic payment forms<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/the-ratings-game-consumer-spending-has-been-remarkably-stable-visa-cfo-says\/#Emily_Bary\" >Emily Bary<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CThe_Ratings_Game_%E2%80%98Consumer_spending_has_been_remarkably_stable_Visa_CFO_says%E2%80%9D\"><\/span>&#8220;The Ratings Game: \u2018Consumer spending has been remarkably stable,\u2019 Visa CFO says&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Company_still_sees_%E2%80%98long_runway_ahead_as_it_looks_to_convert_cash_to_electronic_payment_forms\"><\/span>\n  Company still sees \u2018long runway ahead\u2019 as it looks to convert cash to electronic payment forms<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001182744\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001182744\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetPullQuote\n            inline\n    scope-web|mobileapps\n  article__inset\n          article__inset--type-InsetPullQuote\n            article__inset--inline\n  \"><\/p>\n<div class=\"wsj-article-pullquote article__inset__pullquote \">\n<p class=\"pullquote-content article__inset__pullquote__quote\">\n        <span class=\"l-qt article__inset__pullquote__mark--left\">\u201c<\/span>\u201cThere\u2019s no obvious difference between high-end consumers and lower-end consumers.\u00a0They may be buying different things, but nominal levels of spending have stayed quite stable, and that\u2019s largely true around the world.\u201d<span class=\"r-qt article__inset__pullquote__mark--right\">\u201d<\/span>\n      <\/p>\n<p>        <small><br \/>\n          <span class=\"inset-author article__inset__pullquote__author\">\u2014 Visa CFO Vasant Prabhu<\/span><br \/>\n        <\/small><\/p><\/div>\n<\/p><\/div>\n<p>       Visa Inc. continues to see signals that consumer spending is holding up well despite economic pressures, its chief financial officer said at a conference Monday.<\/p>\n<p> Surely, there\u2019s \u201ca lot to worry about\u201d in the current economy, Visa<br \/>\n        V,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203660239\/composite\" class=\"positive\">+0.70%<\/bg-quote><br \/>\n       Chief Financial Officer Vasant Prabhu told investors at a Goldman Sachs conference. \u201cConsumer confidence has been severely damaged in the U.S.,\u201d he said, and the Ukraine war brings further geopolitical uncertainty.<\/p>\n<div class=\"paywall\">\n       \u201cDespite all that, consumer spending has been remarkably stable,\u201d Prabhu noted, consistent with Visa\u2019s take when the company last reported earnings in late July.<\/p>\n<p>While Visa continues to see a shift in category preferences, at the end of the day, consumers are still opening their wallets. <\/p>\n<p>\u201cAs you might expect, people have switched from, as they say, buying things to doing things,\u201d Prabhu said. \u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">Travel<\/a> is booming,\u201d and hotels, airlines, entertainment sources, and restaurants are all \u201cdoing well.\u201d<\/p>\n<p>Visa\u2019s business is not only tied to the health of consumer spending, but also to the status of electronic payments. The company has been able to capitalize in recent years from a move toward cards and away from cash, particularly amid a pandemic-driven wave of digital-payment adoption.<\/p>\n<p>The company\u2019s payment volumes in Latin America, the Middle East and Africa doubled in the past three years, as Visa made further headway in markets where more than half of people were used to getting cash from ATMs, according to Prabhu. <\/p>\n<p>\u201cThat tells you how much cash there is to digitize,\u201d he said, noting that there\u2019s \u201ca long runway ahead\u201d of Visa as it looks to make further inroads. <\/p>\n<p>Prabhu\u2019s Monday commentary came as fellow card company Mastercard Inc.<br \/>\n        MA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207581792\/composite\" class=\"positive\">+0.77%<\/bg-quote><br \/>\n       shared some insights of its own about the state of consumer spending. <\/p>\n<p>Mastercard put out its monthly SpendingPulse data, indicating a 11.7% rise in August total retail sales relative to a year earlier, when excluding the automotive category. Such sales were up 20.4% relative to 2019, with the comparison aiming to show performance relative to pre-pandemic times. <\/p>\n<p>Mastercard\u2019s SpendingPulse also contained a holiday-season forecast for 7.1% growth in total retail sales excluding autos on a year-over-year basis, with e-commerce sales expected to climb 4.2% and in-store sales expected in increase 7.9%.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Emily Bary\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/marketwatch.com\/author\/emily-bary\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/emilybary\",\"text\":\"@emilybary\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:ebary@marketwatch.com\",\"text\":\"ebary@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n              <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/marketwatch.com\/author\/emily-bary\" aria-label=\"Emily Bary author page\"><\/p>\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Emily_Bary\"><\/span>Emily Bary<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><\/a><ufc-follow-author-widget product=\"marketwatch\" author-id=\"213_MW\" author-name=\"Emily Bary\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fconsumer-spending-has-been-remarkably-stable-visa-cfo-says-11663032972%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-7120-C18877621159%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The Ratings Game: \u2018Consumer spending has been remarkably stable,\u2019 Visa CFO says&#8221; Company still sees \u2018long runway ahead\u2019 as it looks to convert cash to electronic payment forms \u201c\u201cThere\u2019s no obvious difference between high-end consumers and lower-end consumers.\u00a0They may be buying different things, but nominal levels of spending have stayed quite stable, and that\u2019s largely&#8230;<\/p>\n","protected":false},"author":1,"featured_media":492546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-591441\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-492545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/492545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=492545"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/492545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/492546"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=492545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=492545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=492545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}