Visa 2008 Annual Report Download - page 51

Table of Contents
We believe that payments volume and transactions processed are key drivers of our business. Payments volume is the primary basis for service fee
revenue. Payments volume is the total monetary value of transactions for goods and services that are purchased with cards bearing our brands. Transactions
processed by VisaNet are the primary basis for data processing revenue. The tables below set forth payments volume and transaction volume for Visa Inc. and
Visa U.S.A., deemed the accounting acquirer in the business combination and certain pro-forma comparable payments volume and transaction information for
Visa Inc.
Twelve Months Ended June 30,
2008 2007 2006 2005 2004
(unaudited)
(in millions, except percentages)
Statistical Data:
Visa Inc. pro-forma payments volume(4) $ 2,654,237 $ 2,265,937 $ 1,997,450 $ 1,691,849 $ 1,420,669
Year-over-year change 17% 13% 18% 19% 18%
Fiscal Year
2008 2007 2006
(unaudited)
(in millions, except percentages)
Visa Inc. pro-forma total transactions processed(5)(6) 36,956 32,720 29,202
Year-over-year change 13% 12% N/A
(4) Payments volume is based on quarterly operating certificates from our customers and is unaudited. Year-over-year payments volume change for 2004
represents the change compared to 2003.
(5) Transactions processed are accumulated by our payment systems.
(6) Prior to the business combination, there were multiple transaction measures used by different participants in the business combination. The Company
adopted a consistent transaction measurement methodology effective with the business combination on October 1, 2007 and Visa U.S.A. conformed to
this methodology. Historical comparable transactional data prior to fiscal 2006 is unavailable.
(7) There is no historical combined statement of operations of Visa Inc. prior to October 1, 2007, because Visa Inc. did not have any operations prior to the
reorganization. In order to provide insight into our operating results and trends affecting our business, we have included the pro forma selected
statement of operations data for fiscal 2007, as if the reorganization had occurred on October 1, 2006. This pro forma information is derived from our
audited consolidated financial statements and presented in accordance with SFAS No. 141, "Business Combinations" ("SFAS 141").
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