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Posted on April 1, 2020April 1, 2020 by admin

Visa Experiencing Corona Virus Fears

Visa announced that its cutting Q2 estimates due to lower credit card transaction volumes, as consumers are not spending due to the corona virus. In a statement on Monday, they stated, “As countries have imposed social distancing, shelter-in-place or total lock-down orders, domestic spending, most notably in travel, restaurants, entertainment and fuel, has sharply declined week on week,”. The company said transaction volumes fell in the second half of March and there has been a rapid deterioration in cross-border travel-related spending.

The coronavirus has upended the retail industry as shoppers stay at home to avoid catching the highly contagious illness and stores remain shut.

Mastercard Inc, American Express, and PayPal Holdings Inc have also warned of slowing revenue growth due to the outbreak.

Visa, which reported a 4% fall in March to date in U.S. payments volume from a year earlier, said it expects operating expense growth in high single digits and earnings per share growth in the high end of low single digits.

Analysts expect revenue of $5.83 billion and earnings per share of $1.36 in the second quarter ended March 31, according to Refinitiv IBES data.

Earlier this month, Visa had already warned that its second-quarter revenue growth would be slower than its previous forecast.

About The Author

Angela De Steffano

Angela De Steffano
Staff writer at High Risk Merchant Account LLC
Angela is a merchant account specialist and heads the marketing team at HRMA-LLC.

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High Risk Merchant Account LLC

High Risk Merchant Account, LLC
High Risk Merchant Account, LLC
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Casey Scott
Casey Scott
17:03 30 Oct 18
Mark Sands helped me out tremendously. I would recommend him 100%. Saved my business!
Richard Williams
Richard Williams
14:30 28 Oct 18
I had an excellent experience with Mark at HRMA LLC; Mark's persistence and patience meant a lot to me; and happy to say, our company has a new merchant processing account and we're underway again! : )
Jay Larke
Jay Larke
13:48 29 Sep 18
We enjoyed working with Angela at HRMA-LLC! Our staff appreciated the personalized touch and tremendous help while working with them. We would recommend anyone with high risk merchant account needs reach out to Angela and the staff at HRMA-LLC.
Chris Fernandez
Chris Fernandez
23:33 02 Apr 18
Great overall experience with HRMA-LLC. Staff was extremely knowledgable through every step of the process. I would highly recommend them to anyone requiring merchant account services for their business. Thanks for all your help Tom!
James Collins
James Collins
09:47 11 Mar 15
High Risk Merchant Account LLC provides easy merchant account approval for high risk business.
Damon George
Damon George
20:34 27 Aug 14
I have contacted with them online and I have got quick response. Overall had a great experience.
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