to positive annual growth in June and from July 1-21 thanks to strong positive growth from debit and card-not-present payment volumes, in addition to improving performances from its credit card and card-present businesses, though their annual volume growth is still negative.
Part of this recovery can be attributed to the reopening of many businesses in the US following lockdowns, but Visa could lose some of this progress if businesses are forced to close again by the While the pandemic is damaging Visa's performance, CEO Al Kelly highlighted a few ways it's accelerating payment trends that are building out Visa's business on the company's Kelly noted that the pandemic has popularized contactless payments, which can drive transactions for Visa in the...
And the shift toward e-commerce is already helping Visa attract more volume and revenue opportunities. E-commerce has during the pandemic even as other segments have struggled because consumers are at greater risk of contracting the virus when visiting stores than when shopping online. Visa's share of digital commerce is almost three times bigger than its share of physical commerce, according to Kelly, so Visa is in line to benefit from e-commerce's bigger role.
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