Visa signals resilient consumer health, led by 9% US payment growth

Visa CEO Ryan McInerney reported strong and stable consumer spending at a Goldman Sachs technology conference on September 8.

U.S. payment growth reached 9% through August. This represents an acceleration from the 6% to 8% pace maintained over the previous 18 months.

Cross-border payment volume growth rose to 14% through August. This is an increase from the 12% growth recorded in the prior quarter.

E-commerce spending currently outpaces travel spending within the cross-border segment. McInerney maintains an optimistic outlook on consumer health despite global economic challenges.