- Visa President Ryan McInerney said that revenue from the company’s consulting arm is expected to jump 20% year to $3.5 billion
At the company investor day, Visa President Ryan McInerney said that revenue from the company’s consulting arm is expected to jump 20% year, according to Bloomberg. A large portion of the revenue will be generated from selling data and analytics to banks and retailers.
More specifically, the revenue from consulting and analytics will jump to $3.5 billion during the company’s 2020 fiscal year, which ends in September. This amounts to roughly 14% of the $25.4 billion in revenue that analysts are anticipating Visa will generate this year.
McInerney also pointed out that the network has been expanding its “Travel Predict” product, which analyzes data to help banks figure out when a customer might be taking a trip.
And Visa provides those insights to banks to help them target consumers with offers and marketing to help them capture that card spending. The banks that use these products generally see a 15% increase in overseas spending per card.
