Visa says travel-related spending improved in November as restrictions eased

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Visa Inc. said cross-border spending trends are now improving as more countries have eased travel restrictions.

Monthly cross-border volumes in November, excluding transactions between European countries, showed an 11-point improvement over October, hitting 106% of 2019 levels, Visa V, -1.86% was reported in a filing with Securities and others late Wednesday Exchange Commission specified. “Many countries reopened their borders and relaxed restrictions at the beginning of November, especially in Asia and Latin America,” the company stated in its application.

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The U.S. border opened on November 8, Visa said, and the company saw inbound cross-border card spending around 25 points increase from October levels for the week ended November 30. while cross-border volumes refer to those in which people shop in different countries when their cards were issued.

Visa noted that payment volumes in international markets had increased “a few points from October levels” in most countries, and cited “notable” positive peaks in India, Australia and New Zealand.

Visa recorded US payment volume in November 133% of its 2019 level, which the company said was “equal to October”. The company saw its US loan volume grow 3 points from October, while its debit volume declined 4 points.

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Visa shares rose 0.4% in after-hours trading on Wednesday. They fell 1.9% in Wednesday’s regular session and 10.5% last month, while the Dow Jones Industrial Average DJIA was down 5.3%, down -1.34%.

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