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11 May 2023
Image and Logo Credits: FreePik, Visa, and Mastercard General Observations Visa and Mastercard continue demonstrating strong performance. Cross-border is a key growth driver, significantly outpacing domestic volume with management citing travel and B2B as key drivers While card counts have grown for both Visa and Mastercard (7% and 5%, respectively), average spend per card has declined Visa and Mastercard both grew at approx. 11% quarter-over-quarter, again due in large part to cross-border related revenue growing 25% and 33%, respectively North America continues to represent a significant portion of revenue for both card schemes Client incentives as a % of GDV and net revenue as a % of GDV are headed up, but on a dollar basis incentives are growing at a faster rate than revenue Please do not hesitate to contact Rom Mascetti at Rom@FlagshipAP.com or Salvatore LoBiondo at Salvatore@FlagshipAP.com with comments or questions.
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