Visa Inc. · NYSE:V
Visa — William Blair Growth Stock Conference 2025
20 slides from Visa's conference presentation, Jun 5, 2025
Slide 1: Visa William Blair Conference
Visa William Blair Conference June 5, 2025
Slide 2: Forward-looking statements
Forward-looking statements This presentation and related materials contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to, among other things, our future operations, prospects, developments, strategies, business growth, antic
Slide 3: Visa's unparalleled network
Visa’s unparalleled network Our reach, size and scale make us a world leader in payments, delivering sustained value for shareholders An Unparalleled Network Compelling Value Creation1 Strong Growth Drivers ~14,500 financial institutions 100%+ Free Cash Flow Conversion Consumer Payments Strengthen a
Slide 4: The Visa as a Service Stack
The Visa as a Service Stack Financial Digital Wallets Networks Institutions Partner ecosystem building products and solutions Fintech Big Tech Crypto Resellers utilizing Visa solutions and money movement capabilities Delivering Visa’s innovations as easily consumable and Integrated Client Access con
Slide 5: Visa's Product Drop
Visa’s Product Drop Products and solutions that will power the next chapter of transformation to the payments ecosystem Visa Product Drop 2025 Intelligent Digital Flex Stablecoins Visa Pay Visa Accept Commerce Identity Credential Giving AI agents the Ensuring you are Single credential that Accelerat
Slide 6: Visa Intelligent Commerce
Visa Intelligent Commerce Five unified services delivered via APIs enable a new way to buy with AI, with the same trusted and secure way to pay Intelligent Commerce AI-ready AI-powered Simple and secure cards personalization AI payments A programmable Visa card, You are in control, use Visa New AI-p
Slide 7: Stablecoin product initiatives
Stablecoin product initiatives Potential to modernize the world’s money movement infrastructure and deliver on the promise of programmable money Stablecoin Initiatives Stablecoin-backed Stablecoin treasury Programmable credentials solutions money Provide a platform for buying Utilizing stablecoins t
Slide 8: Our differentiated strategy and approach
Our differentiated strategy and approach Three growth drivers for our business Consumer Payments Commercial & Money Value-Added Movement Solutions Services 1 2 3 4 Strengthen Visa’s Expand Visa’s Drive and enable Deliver innovative impact in card-based reach in consumer further penetration value-add
Slide 9: Commercial & Money Movement Solutions (CMS)
Commercial & Money Movement Solutions (CMS) Visa Commercial Solutions and Visa Direct address flows beyond consumer payments CMS Net Revenue FY21-FY241 FY24 $1.7T ~10B 22% CAGR Commercial Visa Direct Payments Volume Transactions FY21 FY22 FY23 FY24 CMS has delivered multiple years of strong growth N
Slide 10: Visa Commercial Solutions and Visa Direct
Visa Commercial Solutions and Visa Direct We have the leading commercial card network and money movement platform in the world We have the largest commercial We have the largest money movement card network in the world platform in the world (B)2 11+ ~10 Share of carded commercial payments volume (%)
Slide 11: CMS Opportunity
CMS Opportunity We are actively pursuing $60T in B2B flows and $55T in non-B2B flows Visa Direct Money Movement B2B P2P Visa Direct $25T $20T $55T $60T B2C Visa Commercial $20T Solutions Card & Virtual $35T G2C Payments $15T $85T Remaining AP / AR Note: See Appendix for more detail. 11 ©2025 Visa. A
Slide 12: CMS Strategy
CMS Strategy Our targeted strategies address these key opportunities Visa Direct Visa Commercial Solutions Grow our domestic business through core P2P Convert more Small & Medium Business spend Grow cross-border flows through enhanced Scale Large & Middle Market card and capabilities virtual payable
Slide 13: CMS advantage
CMS advantage CMS enables Visa to grow revenue in new ways and reach new clients Why CMS is a great Why CMS succeeds growth engine for Visa High growth with significant opportunity Visa-grade reach, speed, technology, scalability, security and user experience Deep relationships and trusted Attractiv
Slide 14: Key takeaways
Key takeaways Visa has a compelling strategy – powered by Visa as a Service, our world-class 1 brand, leading technology, unparalleled network and global scale – that will deliver sustained growth for our business 2 We will deliver long-term shareholder value through a combination of durable top-lin
Slide 15: Appendix
Appendix
Slide 16: Notes and disclosures
Notes and disclosures Entire Presentation: Data presented is as of 9/30/24 unless otherwise noted. All sources are Visa or widely known to be true unless otherwise indicated. All market sizing estimates are Visa internal unless otherwise noted. The presentation reflects Visa Inc.’s total revenue on
Slide 17: Notes and disclosures
Notes and disclosures Consumer Payments: The Consumer Payments Annual Opportunity is referred to as “Addressable Consumer Spend” and equivalent to Purchase PCE (PPCE). PPCE is defined as personal consumption expenditures less non-financial transactions (e.g., imputed rent) or transactions not involv
Slide 18: Reconciliation of GAAP to Non-GAAP financial measures
Reconciliation of GAAP to Non-GAAP financial measures FY19-FY24 CAGR Earnings Per Share1 GAAP 13% (Gains) losses on equity investments, net 0% Amortization of acquired intangible assets 0% Acquisition-related costs 0% Special items2 0% Non-GAAP3 13% 1. Refer to historical annual reports and related
Slide 19: Reconciliation of GAAP to Non-GAAP financial measures (continued)
Reconciliation of GAAP to Non-GAAP financial measures (continued) FY19-FY24 Cumulative Free Cash Flow1 (in millions) Net cash provided by operating activities $98,005 Purchases of property, equipment and technology (5,483) Free Cash Flow $92,522 GAAP Net Income $87,230 FCF Conversion 106% 1. Refer t
Slide 20: Reconciliation of GAAP to Non-GAAP financial measures (continued)
Reconciliation of GAAP to Non-GAAP financial measures (continued) FY19-FY24 Average Operating Margin1 GAAP 65% Amortization of acquired intangible assets 0% Acquisition-related costs 0% Special items2 2% Non-GAAP 67% 1. Refer to historical annual reports and related earnings materials available on o