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Visa may have taken a knock because travellers have not been swiping their cards in foreign currencies but they sure have benefitted from a huge shift to ecommerce. According to this Market Watch article, 13 million Visa cardholders made ecommerce transactions for the first time ever during March in Latin America. Visa also saw an 18% rise in US digital sales excluding travel. Face to Face transactions dropped 45%.
The card companies are working hard together to make the checkout process simpler and easier. That will benefit both the merchant and the card companies. The impulsive shopper may have some regrets though.
According to the article, tap payments also surged, rising 150% in the US.
The Visa share price is down 17% since the Corona Crash. In my view, this is one of the best buying opportunities presented by the recent market moves.