Visa 2011 Annual Report Download - page 44

Table of Contents
networks around the world, for total potential purchase consideration of up to $225 million. The acquisition of PlaySpan extends Visa's capabilities in digital,
eCommerce and mCommerce in order to expand the scope of payment services available to clients and consumers. See Note 5—Acquisitions to our
consolidated financial statements. The PlaySpan acquisition had a dilutive impact to earnings per share of $0.03 for the full 2011 fiscal year.
Sale of investment in Companhia Brasileira de Soluções e Serviços ("CBSS"). On January 24, 2011, our wholly-owned subsidiary, Visa International,
sold its 10 percent stake in Visa Vale issuer CBSS to Banco do Brasil and Banco Bradesco. CBSS continues to issue Visa Vale prepaid cards in Brazil, and
Visa expects no disruption to cardholder service as a result of this transaction. Visa's gross proceeds from the sale were $103 million. After receiving
regulatory approval during the third quarter of fiscal 2011, we recognized a pre-tax gain, net of transaction costs, of $85 million in the investment income, net
line on our consolidated statements of operations. The amount of the gain net of tax was $44 million. See Note 6—Prepaid Expenses and Other Assets to our
consolidated financial statements.
Nominal payments volume and transaction counts. Payments volume and processed transactions are key drivers of our business. Payments volume is
the basis for service revenues and processed transactions are the basis for data processing revenues. We have maintained double digit growth in nominal
payments volume and processed transactions for the past two years. The increase in payments volume and processed transactions reflects the continuing
worldwide shift to digital currency.
The following tables set forth nominal payments volume for the periods presented in nominal dollars(1).
U.S. Rest of World Visa Inc.
12 months
ended
June 30,
2011(4)
12 months
ended
June 30,
2010(4)
%
Change
12 months
ended
June 30,
2011(4)
12 months
ended
June 30,
2010(4)
%
Change
12 months
ended
June 30,
2011(4)
12 months
ended
June 30,
2010(4)
%
Change
(in billions, except percentages)
Nominal Payments Volume
Consumer credit $ 641 $ 599 7% $ 1,188 $ 987 20% $ 1,829 $ 1,586 15%
Consumer debit(2) 1,037 909 14% 265 197 34% 1,302 1,107 18%
Commercial and other(2) 282 243 16% 116 100 15% 398 344 16%
Total Nominal Payments Volume $ 1,961 $ 1,752 12% $ 1,569 $ 1,285 22% $ 3,530 $ 3,037 16%
Cash volume 404 374 8% 1,704 1,411 21% 2,108 1,785 18%
Total Nominal Volume(3) $ 2,364 $ 2,125 11% $ 3,273 $ 2,696 21% $ 5,638 $ 4,821 17%
U.S. Rest of World Visa Inc.
12 months
ended
June 30,
2010(4)
12 months
ended
June 30,
2009(4)
%
Change
12 months
ended
June 30,
2010(4)
12 months
ended
June 30,
2009(4)
%
Change
12 months
ended
June 30,
2010(4)
12 months
ended
June 30,
2009(4)
%
Change
(in billions, except percentages)
Nominal Payments Volume
Consumer credit $ 599 $ 613 (2)% $ 987 $ 811 22% $ 1,586 $ 1,424 11%
Consumer debit(2) 909 787 16% 197 148 33% 1,107 935 18%
Commercial and other(2) 243 221 10% 100 99 1% 344 320 7%
Total Nominal Payments Volume $ 1,752 $ 1,621 8% $ 1,285 $ 1,058 21% $ 3,037 $ 2,679 13%
Cash volume 374 380 (2)% 1,411 1,189 19% 1,785 1,569 14%
Total Nominal Volume(3) $ 2,125 $ 2,001 6% $ 2,696 $ 2,248 20% $ 4,821 $ 4,248 13%
(1) Figures may not sum due to rounding. Percentage change calculated based on whole numbers, not rounded numbers.
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