ELAINE Analysis of Visa Inc. (NYSE:V) Q4 2022 Earnings Conference Call Transcript is succinct, correctly point out the strength of Visa's earnings, and the causality.

It is growth through the expansion of its service footprint

A counterfactual point, inflation is being considered but in fact it is a risk as well as a blessing

Higher inflation translates into higher dollar amount on transactions

Higher inflation increases the risk from consumer debt

Key Excerpts:

"We see new flows as a way to drive additional volumes and transactions and value-added services as a way to drive additional yield on existing volumes and transactions."

"Consumer payments growth was led by the recovery in cross-border volumes, high currency volatility and continued strong domestic volumes and transactions"

"With a 4-point Russia drag and a stiffer exchange rate headwind, first half reported nominal dollar net revenue growth is expected to be lower than the second half, lowest growth in the second quarter, which has the largest Russia impact and stepping up in the third and fourth quarters with no Russia drag and hopefully a moderating exchange rate headwind"

  

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