Visa Inc. · NYSE:V
Visa — Corporate Update (October 2010)
6 slides from Visa's corporate update, Oct 26, 2010
Slide 1: Visa Inc. Financial Discussion
Visa Inc. Financial Discussion Byron Pollitt Chief Financial Officer October 26, 2010
Slide 2: Agenda
Agenda Incorporating CyberSource Results Reporting of Non-Visa Transaction Pass-Through Revenue and Expense Adjusting for Visa Extras Revenue and Expense Revaluing the Visa Europe Put Option Information Classification as Needed 2
Slide 3: Incorporating CyberSource Results
Incorporating CyberSource Results Revenue – Pre-acquisition, CyberSource revenue included interchange passed through to issuers – Post-acquisition, will report net of interchange, primarily as data processing revenue – Will introduce “billable transactions” as an operating metric Intangible and Tech
Slide 4: Reporting of Non-Visa Transaction Pass-Through Revenue and Expense
Reporting of Non-Visa Transaction Pass-Through Revenue and Expense Historically, Visa has processed a modest number of non-Visa transactions whereby fees, primarily interchange, pass through Visa in the settlement process with minimal margin applied – Revenue booked to Data Processing – Expense book
Slide 5: Adjusting for Visa Extras Revenue and Expense
Adjusting for Visa Extras Revenue and Expense Visa Extras is a turnkey, full feature cardholder rewards program developed to support our issuers When a reward is redeemed, the service provider invoices Visa for the cost, and Visa passes through the expense to the client, no margin is applied – Reven
Slide 6: Revaluing the Visa Europe Put Option
Revaluing the Visa Europe Put Option As part of the 2007 reorganization, Visa Europe received a Put option which gives it the perpetual right to sell its business to Visa Inc. Visa Inc. recorded a liability of $346 million related to the Put option to reflect that under certain circumstances, the Pu