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☆ Visa to invest $1 bln in Africa over 5 years to cash in on e-payments boom
▼ + stars: | 2022-12-14 | by ( Mehnaz Yasmin | ) www.reuters.com time to read: +2 min

[1/2] Credit card is seen in front of displayed Visa logo in this illustration taken July 15, 2021. The investments in Africa shine a new light on a major growth opportunity on the continent where cash is likely to be challenged in coming years as e-payments gain momentum, according to a McKinsey report in September. "It's one of our fastest growing regions," Andrew Torre, Visa's regional president for central and eastern Europe, Middle East and Africa, told Reuters in an interview on Wednesday. The investments will scale Visa's operations in Africa and deepen ties with governments, fintechs and merchants, according to the statement. Among new technologies, the company recently rolled out Visa Acceptance Cloud, a platform which turns virtually any device into a payments terminal.

☆ Outgoing Speaker Nancy Pelosi's husband recently sold 20,000 shares of Visa worth up to $5 million
▼ + stars: | 2022-12-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +6 min

Outgoing House Speaker Nancy Pelosi reported her husband recently sold between $1 million and $5 million worth of stock in Visa. She reported that her husband, Paul Pelosi, made the trade on November 8. He bludgeoned Paul Pelosi with a hammer and said he wanted to break the kneecaps of Nancy Pelosi, who was not present at the time. Following the attack on October 28, Paul Pelosi underwent surgery and continues to recover from his injuries. But it was trending upward when Paul Pelosi sold what Nancy Pelosi, in a congressional filing, affirmed was 20,000 shares.

☆ Analysis: Mexican companies could resort to more spinoffs to enhance market value
▼ + stars: | 2022-11-22 | by ( Valentine Hilaire | ) www.reuters.com time to read: +4 min

Mexican telecommunications giant America Movil (AMXL.MX) kicked off the trend late last year when its shareholders approved the spinoff of its cell tower business. Some analysts said both Alfa and Televisa may consider further spinoffs as they look to boost their depressed valuations. Other companies, like Coke bottler and retailer Femsa (FEMSAUBD.MX), whose shares are down 3.3% year-to-date, after gaining 6% in 2021, may follow suit. Alfa lost 2.69% the day after its shareholders approved the Axtel spinoff, while Televisa's shares advanced 0.86% the day after it revealed plans for a similar move. Televisa, meanwhile, could follow its sports spinoff with either its editorial or magazine businesses, two analysts said.

☆ Visa says Ryan McInerney will replace Al Kelly as its next CEO
▼ + stars: | 2022-11-17 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Visa Thursday named Ryan McInerney as its next chief executive, replacing Alfred Kelly who will step down from the role, effective Feb. 1, 2023. McInerney has been president at Visa since 2013, overseeing the firm's financial institutions, acquirers, merchants and partners. He previously worked as CEO for consumer banking at JPMorgan and held operations and risk chief roles at Chase's consumer and home lending businesses. He has served as the company's CEO since 2016 and was elected chairman of the board in 2019. He previously spent 23 years at American Express , where he served as president.

☆ Spain is expected to launch its 'digital nomad visa' in January. Here's what we know about the program so far.
▼ + stars: | 2022-11-15 | by ( Hannah Towey | ) www.businessinsider.com time to read: +5 min

Spain's parliament recently approved a "digital nomad visa" for foreign remote workers. That's slightly less than Portugal's digital nomad visa, which requires remote workers to make at least four times its minimum wage to apply. EyesWideOpen/Getty ImagesWith its favorable climate and proximity to major European hubs, it's no wonder why the Iberian peninsula is becoming a digital nomad hotspot. Before Portugal launched its digital nomad visa at the end of October, remote workers flocked to the country through its D7 visa, also known as a passive income visa. Spain's Startup Act and digital nomad visa have so far seen support from both sides of the political spectrum.

☆ Televisa's Izzi unit launches mobile packages with AT&T
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 3 (Reuters) - Mexican broadcaster Televisa's (TLEVISACPO.MX) phone and internet service provider, Izzi, has partnered with AT&T Inc (T.N) to roll out a set of low-cost mobile phone plans across the country, Izzi said on Thursday. The plans with AT&T expand Izzi's coverage and are compatible with all recent smartphones, the spokesperson said, while some phones were not covered under previous Izzi plans. The Izzi deal follows another Televisa partnership with AT&T last month. Televisa's satellite TV unit Sky teamed up with AT&T as part of a revamp announced this summer to offer mobile phone services to existing Sky clients. Reporting by Cassandra Garrison and Kylie Madry in Mexico City Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ PayPal third-quarter revenue jumps as online shopping picks up pace
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

Nov 3 (Reuters) - Online payments company PayPal Holdings Inc (PYPL.O) on Thursday posted a jump in third-quarter revenue, benefiting from a strong rebound in online shopping as consumers return to their pre-pandemic spending. The results follow upbeat earnings from bigger payment giants Visa Inc (V.N) and American Express (AXP.N) that underscore the strength in U.S. consumer spending, despite high inflation and rising interest rates. read morePayPal's net revenue jumped 12% on an adjusted basis to $6.85 billion in the quarter. Payment volumes rose 14% to $337 billion on an adjusted basis, closely mirroring Visa's 10% jump this quarter. read moreReporting by Mehnaz Yasmin in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Televisa's ViX steaming platform to be profitable by end 2023 -executive
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 28 (Reuters) - Grupo Televisa (TLEVISACPO.MX), Mexico's largest broadcaster, expects its ViX streaming service to be profitable by the end of 2023, Chief Executive Alfonso de Angoitia said Friday. TelevisaUnivision, a joint venture with U.S. broadcaster Univision, earlier this year launched the Spanish-language streaming service ViX, which will compete with established rivals like Netflix Inc (NFLX.O) and Amazon.com Inc's Prime Video (AMZN.O). De Angoitia said about 50% of the subscribers for ViX+, the paid version of the platform, were coming from the ad-based version of the service through the app shared by both. The company posted on Thursday a net profit of 1.118 billion pesos ($55.6 million), a 47% increase from a year earlier. Those businesses accounted for about 7.4% of consolidated revenue and about 3.4% of earnings before interest, taxes, depreciation and amortization (EBITDA), executives said.

☆ Visa profit beats as payment volumes surge on travel demand
▼ + stars: | 2022-10-25 | by ( Mehnaz Yasmin | ) www.reuters.com time to read: +2 min

"Travel outbound from the U.S. to all geographies continue to pick up steam," Chief Financial Officer Vasant Prabhu said on a post-earnings call. "The strong dollar and delays in visa issuance from some countries appear to be impacting travel into the U.S," he added. Transactions processed at the world's largest payments processor rose 12% on a constant dollar basis to 50.9 billion in the fourth quarter ended Sept. 30. On a constant dollar basis, Visa's payment volumes surged 10%, while cross-border volumes - a key measure that tracks spending on cards beyond the country of issue - jumped 36%. Excluding items, the world's largest payments processor reported a profit of $1.93 a share, beating estimates of $1.86, according to Refinitiv IBES data.

☆ Visa profit rises as U.S. travel spending boosts payment volumes
▼ + stars: | 2022-10-25 | by ( Mehnaz Yasmin | ) www.reuters.com time to read: +2 min

"Visa continues to benefit from the travel rebound and the ongoing shift away from cash," said Ted Rossman, senior industry analyst at Bankrate.com. Visa results mirror that of American Express (AXP.N), which reported a stronger-than-expected profit as travel and entertainment spending in international markets surpassed pre-pandemic levels for the first time on Friday. On a constant dollar basis, Visa's payment volumes surged 10%, while cross-border volumes - a key measure that tracks spending on cards beyond the country of issue - jumped 36% for the three months ended Sept. 30. Transactions processed by Visa also rose 12% on a constant dollar basis to 50.9 billion in the three months ended Sept 30. Net income was $3.9 billion, or $1.86 per share, in the three months ended Sept. 30, compared with $3.6 billion, or $1.65 a share, a year earlier.

☆ Excessively cheap stocks that you can buy now, according to Trivariate Research
▼ + stars: | 2022-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Trivariate Research CEO and founder Adam Parker said some stocks are excessively cheap after this year's market turbulence and poised for growth next year. Market participants are dealing with rising inflation, a hawkish Federal Reserve, excessive inventory levels, and elevated earnings estimates. Trivariate Research found stocks that are attractive compared with pre-Covid levels in 2019. Visa is down 11.8% this year, but it could be poised for growth in 2023 as international travel recovers from its pandemic lows. Other stocks included in this list are Booking Holdings , Lam Research and Microchip Technology .

MEXICO CITY, Oct 18 (Reuters) - Mexican broadcaster Grupo Televisa's (TLEVISACPO.MX) satellite television unit SKY has launched new mobile phone services using AT&T's network, the company said Tuesday, in a bid to expand product offerings to its clients. Customers who sign up for the mobile services, rolled out Monday and only available to SKY clients, will get an upgrade in their SKY content offerings, said Chief Executive Luis Malvido. Register now for FREE unlimited access to Reuters.com RegisterAT&T deployed 5G services in Mexico City in December 2021, and has since expanded to some other cities across the country. It competes with major player America Movil (AMXL.MX), which is rolling out its own 5G network in Mexico this year, poised to become the largest 5G commercial network in Latin America, according to regulators. The new mobile services, first announced in July as part of a revamp of SKY, are geared to attract families seeking to open multiple lines per household.

☆ Read the exclusive pitch deck that recruiting startup Joonko used to raise $25 million from top VCs including Insight Partners
▼ + stars: | 2022-09-13 | by ( Jessica Xing | ) www.businessinsider.com time to read: +3 min

Read the pitch deck Joonko used to raise a $25 million Series B led by Insight Partners. Joonko, a human-resources tech startup in Israel, just raised a $25 million Series B funding round led by the venture-capital heavyweight Insight Partners. Backing its mission with business metrics like annual recurring revenue and a growing client base won over those investors, CEO Ilit Raz told Insider. It raised a $10 million Series A round last year at a $89 million valuation, according to PitchBook. Read the pitch deck that Joonko used to raise its $25 million Series B:

☆ Say goodbye to paper money — banks are quietly working to get rid of cash
▼ + stars: | 2022-06-14 | by ( Brett Scott | ) www.businessinsider.com time to read: +15 min

A payments system without cash is one dependent on banks that are prone to financial crises, systems failure, and cyberattacks. The digital chips promise you government-issued dollar bills, and that promise is empty if you can't get those from the ATM. Despite how crucial it is to maintain an inclusive, multimodal payments system with nonbank and non-digital options, our payments system is being driven toward a monoculture. Ads for digital payments don't say, "Enjoy the speed, convenience, surveillance, cyber-hacking, exclusion, and critical infrastructure weaknesses that our platform brings," yet that is what lies beneath the surface-level slickness of digital payments. The world's most vulnerable people rely on the already existing, physical cash system, and our priority should be to protect that system.

☆ Visa's PAC gave politicians $139,000 in March after vowing to pause contributions because of the Capitol insurrection
▼ + stars: | 2021-04-07 | by ( Kayla Epstein | Dave Levinthal | ) www.businessinsider.com time to read: +4 min

Visa's PAC has resumed political donations after announcing a pause following the January 6 Capitol attack. On March 24, Visa gave a total of $139,000 to candidate and political committees on both sides of the aisle. None of the lawmakers voted to object to the certification of the 2020 election results. Visa also filled coffers of the Democratic Congressional Campaign Committee and Democratic Senatorial Campaign Committee, giving each one $15,000. On January 12, less than a week after the attack, Visa's PAC "temporarily suspended all political donations as we review our candidate contribution guidelines," the company told the Washington Post.

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