Travel-related cross-border volumes rose six points from 112 percent of 2019 in Q4 to 118 percent in Q1, driven by Asia Pacific, helped by China lifting restrictions, continued modest improvements inbound into the United States, and Samia benefiting from the FIFA World Cup.

Jan 26, 2023 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2023-01-26 | transcript 1f19fd46-98f3-4b94-b6e2-623e2b2845d3 | chars 2467-2741 | segment 2

Number one, on the travel front, it's been a focus for us for a long time, and I think we have about 650 co-brands around the world. Many of them are our travel co-brands, and I think we're the leading co-brand player on the planet.

Jan 26, 2023 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2023-01-26 | transcript 1f19fd46-98f3-4b94-b6e2-623e2b2845d3 | chars 48526-48758 | segment 49

Travel-related cross-border volumes rose 12 points from 104% of 2019 in Q3 to 116% in Q4 as travel continued to recover.

Oct 25, 2022 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2022-10-25 | transcript 1eb840d5-ccf8-4d2a-bdb8-88dc8235252c | chars 3964-4084 | segment 4

The cross-border travel index to 2019 went from 112 in June to 115 in July to 118 in September. While the recovery continues, the rate of improvement from month to month has slowed as borders ex-China are now open. Travel in and out of Asia recovered sharply in the quarter, up 16 points, from the high 15s to the mid-70s index to 2019. There is more recovery to come in Asia, especially when China starts to lift restrictions. Summer travel in and out of Europe was also very strong, with the travel index to 2019 in the 130s up 13 points from the third quarter. European travel appears to have benefited most from the strong dollar. Travel outbound from the US to all geographies continued to pick up steam, rising to the mid-130s index to 2019, up 10 points from the third quarter. However, the inbound travel recovery was sluggish. still indexing in the low 90s and up only four points. The strong dollar and delays in visa issuance from some countries appear to be impacting travel into the U.S. Travel into Latin America and the Caribbean remained very strong and stable, indexing around 150 to 2019 levels. Finally, travel in and out of Samia indexed in the mid-120s relative to 2019 up 10 points in the quarter.

Oct 25, 2022 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2022-10-25 | transcript 1eb840d5-ccf8-4d2a-bdb8-88dc8235252c | chars 22158-23377 | segment 23

Cross-border travel, excluding intra-Europe, has continued to recover, but at a slower pace, up six points from 112 to 118, indexed to 2019, between June and September. For planning purposes, we are assuming that this recent month-to-month pace of recovery sustains through fiscal year 2023. As was the case last year, there will be periods of deceleration and acceleration. Hopefully, China starts easing restrictions as we enter calendar year 2023.

Oct 25, 2022 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2022-10-25 | transcript 1eb840d5-ccf8-4d2a-bdb8-88dc8235252c | chars 28340-28790 | segment 29

This quarter, We're excited to have reached a significant multi-year agreement with WEX to enable their travel, health, and corporate clients to make payments using Visa Virtual Card capabilities.

Jul 26, 2022 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2022-07-26 | transcript 8013fa35-7385-40e8-ab0b-9688fcc554fd | chars 10777-10973 | segment 11

Q3 cross-border volumes, excluding intra-Europe, were 123% versus three years ago, up 11 points from Q2, and this includes Russia in prior period numbers. Travel-related cross-border volumes rose 22 points from 82% of 2019 in Q2 to 104% in Q3, as we continued to see strong recovery in consumer and commercial travel.

Jul 26, 2022 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2022-07-26 | transcript 8013fa35-7385-40e8-ab0b-9688fcc554fd | chars 2686-3003 | segment 2

We also have wins with Credorax in Europe for travel virtual cards in Ignition and Standard Bank in Samia in Fleet and an exclusive agreement for physical and virtual cards with RAMP, a P2P finance automation fintech here in the United States.

Oct 26, 2021 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2021-10-26 | transcript 5bdc6075-735c-4d82-bdcf-69e77247ea26 | chars 9498-9741 | segment 9

And we expect much more recovery to come, especially in the areas of credit and cross-border travel.

Jul 27, 2021 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2021-07-27 | transcript efd90331-48e2-4bb0-b25d-0a9c1ba1bd19 | chars 4818-4918 | segment 5

Travel is starting to recover both domestically and in cross-border. Again, averaging across our top markets where we process versus 2019, domestic travel spending improved more than 20 points in Q3 over Q2. Globally, cross-border travel, excluding inter-Europe, versus 2019 improved six points in Q3 over Q2 and exited the quarter with June at 50% of 2019.

Jul 27, 2021 / CEO / receipt, needs a key / Al Kelly, CEO | earnings call 2021-07-27 | transcript efd90331-48e2-4bb0-b25d-0a9c1ba1bd19 | chars 4193-4550 | segment 4