Visa’s US payments volume fell by 5% in the May 2020 compared to 18% in April 2020, according to its SEC filing, while its quarter-to-date was down by 11%. Furthermore, the company’s cross-border volume (excluding intra-Europe) showed a year-on-year decline of 45% in May 2020 compared with 51% in April 2020.
Mastercard’s cross-border volume showed a 44% year-on-year decline in May 2020 compared to 50% in April 2020, suggesting some signs of a revival in May 2020. The company said in its 8-K filing that the improvement in switched volume numbers is due to relaxation of social distancing norms in several markets around the world and the impact of the US fiscal stimulus. In April 2020, switched volume was down by 23% but in May 2020 it was just 8% down.
Travel related cross-border volumes declined by 78% in May 2020 for Visa while its cross-border ecommerce which excludes travel grew up by 18%. Meanwhile, for Mastercard, cross-border volume continued to be impacted by the decline in travel and remains unchanged, as reported by CPI.
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