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- China and Russia, China and Russia, China and Russia — did "not as bad as feared" go away?
- Visa (V) posts extraordinary numbers, especially compared to three years ago. The credit-card company crushed sales and earnings estimates. And this is despite CEO Alfred Kelly suspending operations in Russia, which was its second-largest market for Visa Direct, its real-time payments network. I can't believe the strength across the whole world. Payment volume was up 135% versus three yeas ago. Cross-border volumes, excluding intra-Europe, gained 112%. United States, get this: Up 144% compared to 2019. This is, in part, the move away from cash. In 2019, cash was 59% of total payments; this quarter it was 46%. Domestic spend is incredibly strong. Pent-up travel demand is very high.