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Retrieved from "https://dev.uesp.net/w/index.php?title=Skyrim:Specialty_Gear&oldid=1988291#Wolf_Helmet" Visa to buy Visa Europe in deal that could exceed $23B – Santa Cruz Sentinel
Visa to buy Visa Europe in deal that could…
NEW YORK (AP)  Payment processing giant Visa announced plans Monday to buy its sister company, Visa Europe, in a deal that could be worth more than $23 billion and would consolidate all of Visa”s operations worldwide.
The deal would make the world”s largest payment processing company even larger. The two companies have more than 2.9 billion cards issued on its combined network, processing roughly 88 billion individual transactions a year.
“We are very excited about unifying Visa into a single global company with unmatched scale, technology and services,” said Charles Scharf, Visa”s chief executive officer, in a prepared statement.
“We still see Europe as a very attractive growth market. It will be the second-largest market for Visa once the merger is completed and there”s still a lot of cash and checks to go away,” Visa CFO Vasant Prabhu said in an interview.
Visa executives say they do not expect any significant regulatory issues with the merger, since Visa has no significant exposure to Europe at the moment and it isn”t buying a competitor.
For consumers, the merger of Visa and Visa Europe will not be a significant event. Even though consumers interact with Visa nearly every day when they swipe their credit or debit cards, customers don”t directly pay money to Visa to use the company”s network.
Visa”s announcement of a deal came as the company reported its fiscal fourth quarter and full year results that mostly met Wall Street”s expectations.
Global payment volume on Visa”s network, a key measure of the company”s business, rose 12 percent to $1.265 trillion in the quarter, when adjusted for currency fluctuations. Like MasterCard, Visa takes a small percentage of each debit or credit card transaction processed on its network as a fee. Credit and debit card volume in the U.S., Visa”s biggest single market, rose roughly 10 percent from a year earlier.