Visa: Thesis Update With Key Indicators

hatchapongWe have been bullish on Visa for a while, and wrote about it in April 2022. As a reminder, Visa operates in a duopoly industry and is a competitively advantaged business because of the strength of its payment network, which is very difficult to replicate and provides Visa with a cost advantage. Indeed, Visa partners with more than 15,000 financial institutions globally that have issued more than 3.8B Visa cards that are accepted in more than 100M merchant locations. As a result, the company is ...