Visa Inc.'s (V) CEO Al Kelly Presents at JPMorgan's 50th Annual Global Technology, Media and Communications Conference (Transcript)

May 24, 2022 1:49 PM ETVisa Inc. (V)1 Comment
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Visa Inc. (NYSE:V) JPMorgan's 50th Annual Global Technology, Media and Communications Conference Call May 24, 2022 8:50 AM ET

Company Participants

Al Kelly - Chairman and Chief Executive Officer

Conference Call Participants

Tien-Tsin Huang - JPMorgan

Tien-Tsin Huang

All right. Good morning, everyone. Thanks for joining. My name is Tien-Tsin Huang. I am the Payments and IT Services Analyst. And we have Al Kelly, CEO of Visa, Chairman of Visa as well. And I was telling, Al, and I mean this, it’s like one of the highlights for me. I get into this conference every year, grateful for that. But super grateful to spend a few minutes talking to Al and got an important role and he is always a great thoughtful speaker for the whole industry. So we have a lot of topics to cover. I have gathered a lot of questions from the investment community. Al, and if it’s okay, we’ll get right into it. Thank you for being here with us.

Al Kelly

Great to be with you, Tien-Tsin, and great to be with everybody in-person.

Tien-Tsin Huang

So, let’s get right into it. So the number one question I got obviously was to give an update on the consumer. And I’ve been calling it an atypical recovery with the pandemic improving travel being very, very strong, but you’ve seen weakness in areas like e-com, which is pretty well understood. So, you tell us, how healthy is the consumer globally?

Al Kelly

Well, right now, the consumer seems quite healthy despite inflation, supply chain issues, the war in Ukraine, rising constraints et cetera, where you would think that you would see – be seeing some impact. We are not seeing it I think that a lot of this is because there is still so much pent-up demand and people are being – were sicker being locked up during

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