October Cross-border

Visa released their monthly metrics from October which indicated that despite horrible global inflation, people are still spending. Global processed transactions increased 40% from 2019, slightly above the 39% expected.

The US lead the way with a 47% increase while cross-border came in 37% higher. Cross-border eCommerce grew by 58% and cross-border travel grew by 19%. Remember these are all compared to 2019 levels because 2020 and 2021 were such strange years, especially for Visa.

From a macro perspective, this data shows the conflicting world we are currently living in. We have a pretty strong consumer hungry to travel and spend. But at the same time they are facing roaring inflation.

Visa has had a decent year compared to many other stocks. It opened the year at $216 and now trades at $212. So basically flat. Over the same period the S&P 500 is down 17%.