Growth in Visa and Mastercard's Q1 2024 performances attributed to international transactions
In the first and second quarters of 2024, both Mastercard and Visa reported positive growth in their earnings, with a focus on cross-border volumes, transaction volumes, and net revenue.
Mastercard's Q1 and Q2 2024 Performance
In Q2 2024, Mastercard's payment network net revenue grew by 13%, driven by domestic and cross-border transaction and volume growth, and a 22% increase in value-added services revenue. Worldwide gross dollar volume (GDV) increased by 9%, with US volume up 6% and international volume up 10%. Cross-border volume grew by 15%, reflecting strong growth in travel and non-travel related spending.
Mastercard's earnings per share (EPS) for Q1 2024 was $3.22, with revenue figures not explicitly specified but generally lower than Q2 2024. In Q2, the EPS rose to $3.51, showing growth quarter-over-quarter. Notably, Mastercard's total payment volume for credit cards reached about $1.1 trillion in Q2 2024, the highest in a single quarter.
In Q2 2024, contactless payments now represented 75% of in-person switch transactions, and switch transactions grew by 10% year-over-year. Cross-border assessments, fees associated with transactions for cards issued in regions other than where they are acquired, increased 21% YoY to reach $2.2bn in Q1 2024.
Mastercard's FY 2024 net revenue growth expectations have been revised downward to the low end of low double-digits. However, the company's Q1 2024 results beat analyst expectations.
Visa's Q1 and Q2 2024 Performance
In Q2 2024, Visa's quarterly revenue increased by nearly 10%, showing a slight decrease in growth rate compared to Q1 but still positive. Visa noted a general deceleration of payment volume growth in the US, partly attributed to adverse weather conditions, though cross-border volumes grew.
In Q1 2024, Visa's exact revenue figures were not specified in the search results, but the trend suggests stronger growth in Q1 relative to Q2, given the mention of a slight deceleration in Q2.
Comparison of Q1 and Q2 2024 Results
The data points indicate Mastercard had stronger net revenue growth and cross-border volume growth in Q2 2024 compared to Visa, which experienced some deceleration in transaction volumes domestically but maintained growth in cross-border volumes. Mastercard's focus on value-added services and premium card products also contributed to its robust revenue growth.
No detailed numeric comparison for Q1 2024 revenue or transactions for Visa was found in the search results, but the trend suggests Q1 had slightly better volume growth before the Q2 slowdown.
Accessing the Article
This comprehensive analysis of Mastercard and Visa's Q1 and Q2 2024 earnings is available for free by creating a free account. The article provides industry-leading news and analysis on cross-border payments globally.
Sources: 1, 2, 3, 4, 5
Read also:
- Expensive Fix for Owner's 392-Mile Lucid Air: Lucid Motors Asking for $7,000
- METABORA and Baligames Join Forces for the Launch of a Web3-Based Puzzle Role-Playing Game
- Sustaining Measures Need to Progress in the Year 2025
- Announcement on WardsAuto Podcast: Honorees for the 2025 Wards 10 Best Interiors and User Experiences Revealed
