V - Visa Inc.

NYSE - NYSE Delayed Price. Currency in USD
179.24
-1.29 (-0.71%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous Close180.53
Open181.84
Bid178.58 x 900
Ask179.18 x 1000
Day's Range179.14 - 181.84
52 Week Range121.60 - 181.84
Volume5,003,604
Avg. Volume6,905,034
Market Cap403.821B
Beta (3Y Monthly)0.83
PE Ratio (TTM)37.03
EPS (TTM)4.84
Earnings DateJul 23, 2019
Forward Dividend & Yield1.00 (0.55%)
Ex-Dividend Date2019-08-15
1y Target Est190.42
Trade prices are not sourced from all markets
  • The Bill for Visa Stock Is Too High Ahead of Earnings
    InvestorPlace21 hours ago

    The Bill for Visa Stock Is Too High Ahead of Earnings

    The investing public should get an idea about the performance of the payments industry as the earnings report on Visa (NYSE:V) comes out. The world's largest payments processor will report its third-quarter earnings on Tuesday, July 23rd after the bell. However, expectations will probably run as high as Visa stock.Source: Shutterstock As of last year, Visa controlled about 61.5% of the payment network market in the United States. Consequently, the stock has moved steadily throughout the year. However, given the valuation, the market appears to have fully priced in the market share and earnings growth of V stock. Earnings and Revenue Continue to RiseFor the quarter ending on June 30th, analysts predict Visa earnings of $1.32 per share. Should this hold, that will represent a 10% increase from the same quarter last year, when profits came in at $1.20 per share. Wall Street also projects revenues of $5.7 billion, 8.8% more than the $5.24 billion the company brought in during the third quarter of 2018.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks Top Investors Are Buying Now Visa stock has remained in a fortuitous position for some time. The demand for Visa's services continues to increase profits at double-digit rates as society becomes increasingly cashless. Visa Stock Is ExpensiveThose who hoped to buy on a dip have seen few opportunities. Visa stock fell along with the market, falling to a low of $121.60 per share on December 24th. Since then, it has moved steadily higher, climbing almost 50% since the Christmas Eve bottom. The current price of just over $180 per share comes very close to the all-time high on V stock.Unfortunately for new investors, the current price of Visa stock reflects this growth potential. The forward price-to-earnings ratio now exceeds 29. Wall Street believes that earnings will grow by 16.5% this year and 15.6% in 2020. Consequently, one can understand why V stock is not cheap.Visa stock appears expensive in more ways than one. Many at InvestorPlace seem to agree. Dana Blankenhorn says, "it's time to take profits." Luke Lango calls it a "long-term winner," but says it is "not worthy of paying $180 per share." Even V stock bull Tom Taulli admitted valuations and pressure to reduce fees could undermine the case for Visa.These double-digit growth rates have existed for some time. This has helped the company fund ten straight years of dividend increases. However, the payout now stands at $1 per year. This takes the yield to only around to only 0.55%. That does not compare well to the average dividend return for the S&P 500, which currently stands at just under 1.9%.In fairness, investors seem to get what they pay for in this industry. Mastercard (NYSE:MA) trades at a forward P/E ratio of 31, a bit above Visa's multiple. However, analysts believe MA will post higher profit growth numbers than Visa.Some investors might prefer paying about 14 times forward earnings for American Express (NYSE:AXP). However, AXP stock barely exceeds 10% on profit growth. One can say the same about Discover Financial (NYSE:DFS). DFS stock trades at 8.7x forward earnings. However, Wall Street believes profit growth will fall below 10% after this year. Should I Buy Visa Stock Before Earnings?Despite the success of the company, investors should probably avoid Visa stock going into earnings. Without question, Visa runs the largest payment network. Moreover, thanks to the growing popularity of e-commerce and cashless payment options, its massive size has not precluded double-digit profit growth.However, at more than 29 times forward earnings, the current Visa stock price fully reflects both its value and growth. It will also account for the fact that the company will more than likely beat earnings. * 10 Tech Stocks That Are Still Worth Your Time (And Money) For those determined to invest in this industry, I would choose Visa stock, but not right now. I would urge investors to wait for a correction or a bear market for the S&P 500. As long as the payments industry stays in a growth mode, only a significant decline in the overall market will offer the opportunity to buy V stock at a reasonable price.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post The Bill for Visa Stock Is Too High Ahead of Earnings appeared first on InvestorPlace.

  • Market Realist22 hours ago

    Why American Express’s Q2 Earnings Rose

    American Express (AXP) reported its second-quarter earnings results on Friday before the market opened. Its EPS beat analysts’ consensus estimate.

  • Facebook Stock Looks Poised to Face Tough Regulatory Headwinds
    InvestorPlaceyesterday

    Facebook Stock Looks Poised to Face Tough Regulatory Headwinds

    It's rare to find bipartisanship in today's polarized environment in Washington DC. But there is one issue that seems to unite the factions: the distrust of Facebook (NASDAQ:FB), and that's not good news for Facebook stock.Source: Shutterstock That's ironic. Keep in mind that FB continues to be quite popular with its users. The company has also been aggressive when it comes to hiring and providing juicy salaries. In the first quarter, its headcount grew by 36% on a year-over-year basis to 37,773. * 10 Tech Stocks That Are Still Worth Your Time (And Money) But such things don't really matter much. Over the years, FB has been careless with users' data and privacy. And this has impacted views on FB within DC. After all, the company recently agreed to a $5 billion settlement with the Federal Trade Commission regarding its privacy practices.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYet this week's testimony regarding FB's planned launch of the Libra cryptocurrency -- which has the backing of Visa (NYSE:V), MasterCard (NYSE:MA) and PayPal (NASDAQ:PYPL) -- is perhaps the most interesting evidence of the distrust towards FB from Washington.Here's what Democrat Congressman,Brad Sherman had to say: "The most innovative thing that happened this century is when Osama bin Laden came up with the innovative idea of flying two airplanes into towers. That's the most consequential innovation, although this may do more to endanger America than even that."Yikes! Oh, and he referred to CEO Mark Zuckerberg as "Zuckbucks."In the meantime, there was criticism from the other side of the aisle. For example, Federal Reserve Chairman Jerome Powell, Treasury Secretary Steven Mnuchin and President Trump have expressed concerns about Libra. FB Stock and LibraDavid Marcus, who heads up the Libra project for FB, tried his best to handle the questions. He was actually fairly reasonable and understanding. Keep in mind that Marcus said that the cryptocurrency would not be a vehicle for trading or for banking services. He added that it would also have a great deal of transparency, helping to reduce its use in illicit activities.According to InvestorPlace.com columnist Dana Blankenhorn: "The difference is that, while banks today have to police compliance at the teller's window, so to speak, Libra will make its blockchain available to police. Facebook will control neither the network, the currency, nor the reserve backing it. Its Calibra subsidiary will just be running digital wallets."Marcus also mentioned that FB would not move forward with Libra until regulators are satisfied with it. In other words, he did demonstrate some finesse.It's difficult to predict what may ultimately happen to Libra. But given the pushback in Congress, I think the future of Libra does look dicey. Interestingly enough, the value of bitcoin has plunged recently, going from $13,000 to $9,800. The decline indicates that investors are skeptical about Libra's future. The Bottom Line on Facebook StockThe success or failure of Libra probably does not mean a lot to FB and FB stock. Rather, the hearings point to the ominous fact that FB does face serious political headwinds.FB's current problems with Washington look similar to those of Microsoft (NASDAQ:MSFT) back in the 1990s, when the company came under pressure from antitrust regulators. In fact, the parallels are eerie. Both Bill Gates and Zuckerberg started their technology companies while at Harvard and subsequently cashed in on huge opportunities. Essentially, they ruthlessly created extremely powerful platforms and ecosystems which would be nearly impossible to destroy.MSFT become an easy target. There were many companies that wanted to take it down to even the tech playing field. As a result, MSFT had to focus more and more time and resources on battling regulators. This ultimately led to the company losing its momentum and dominance, until the past couple years.I could easily envision FB suffering a similar fate. The company has become a convenient punching bag - and for good reason.I'm not implying that things will suddenly come undone for FB. For the most part, the company appears to be running on all cylinders. But in the years to come, it would not be surprising to see FB face more problems, making it tougher to be bullish about the long-term outlook of FB stock.Tom Taulli is the author of the upcoming book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post Facebook Stock Looks Poised to Face Tough Regulatory Headwinds appeared first on InvestorPlace.

  • Higher Transactions Processed to Aid Visa (V) Q3 Earnings?
    Zacksyesterday

    Higher Transactions Processed to Aid Visa (V) Q3 Earnings?

    Visa (V) expects overall revenue growth due to increase in transactions processed across its operating regions.

  • Visa (V) Outpaces Stock Market Gains: What You Should Know
    Zacks2 days ago

    Visa (V) Outpaces Stock Market Gains: What You Should Know

    In the latest trading session, Visa (V) closed at $180.53, marking a +0.77% move from the previous day.

  • Exclusive: Ripple co-founder Chris Larsen says tech has 'messed up' San Francisco
    American City Business Journals2 days ago

    Exclusive: Ripple co-founder Chris Larsen says tech has 'messed up' San Francisco

    The serial entrepreneur sounds off on the negative impact he says the tech sector is having on the Bay Area's quality of life.

  • AAPL Stock: Apple Software Becomes Lifestyle
    InvestorPlace2 days ago

    AAPL Stock: Apple Software Becomes Lifestyle

    Hardware becoming software is one of the key trends of this decade. As Apple (NASDAQ:AAPL) prepares to refresh its product line for the fall of 2019, it is selling its software as a lifestyle.Source: Shutterstock The key product launch investors need to consider is the Apple Card, the company's entry into finance.While Facebook (NASDAQ:FB) wants to create its own money and replace the current Visa (NYSE:V)-dominated payment infrastructure with something cheaper, Apple Card is a gloss on MasterCard (NYSE:MA), with personal finance delivered through an app and integration with existing wireless payment technology.InvestorPlace - Stock Market News, Stock Advice & Trading TipsApple is also throwing money at original content, hoping to overwhelm Spotify (NASDAQ:SPOT) in podcasts and Netflix (NASDAQ:NFLX) in streaming entertainment. * 7 Stocks Top Investors Are Buying Now Apple's strategy is coming into focus. It's a lifestyle and an indenture. It's a walled garden where, in exchange for promises of privacy, Apple controls everything you have, including your cash flow. The Biggest iOS LaunchApple's biggest product launch is now going through its final beta test, iOS 12.4 beta 7. Its successor, iOS 13, was announced at the June Worldwide Developer's Conference.The key new feature supported by 12.4 is the Apple Card, on which Goldman Sachs (NYSE:GS) estimates it has spent nearly $275 million, transforming itself from an investment bank into a consumer bank. The card itself is designed around the app, with daily cash rewards and full integration with the Apple Wallet to track spending.The card is thus meant to change behavior, which now favors physical debit cards for most transactions. The potential bonanza here is enormous. People who pay off their cards spend an average of $1,154 with them each month, and the average user carries $6,354 of credit card debt. Goldman expects to offer $1,000 in credit to those with credit scores as low as 600, and charge Apple Card customers interest rates of 13%-24% on balances. Apple's Ho-Hum HardwareWith the next iPhone already being called a clunker, Apple has to extract more from software and services to maintain last year's 15% growth rate, with 22% of revenue hitting the net income line.The iPhone 11 design itself looks like a greatest hits album from previous iterations. Its main improvement is a bigger battery. The same is true for the latest MacBook, which only received minor tweaks on existing designs.But the hardware is the center of a software ecosystem that brings Apple profit from every corner of a customer's life. Software and services are more profitable than hardware.This extends to the Apple Watch. Given how many stores had the watch at clearance prices this month, including the Apple Watch 4, an Apple Watch 5 can't be far off. But the hardware isn't likely to change much. It will just be capable of running more software, especially health software. Health will follow cash into the Apple profit column.Critics worry the emphasis on service revenue will compromise the user experience. But people who believe in Apple tend to go all-in. The most important point about the iPhone's market share is its stability. They have half of the U.S. market and over one-fifth of the global market. The Bottom LineAn Android is a phone, a utility that offers unlimited choice. An iPhone is a lover, seducing and then demanding increasing loyalty.Once you're in the Apple ecosystem, the company wants to make it a lifestyle, handling your money, your entertainment, even your health.That's CEO Tim Cook's bet, that Apple products can be more than phones or watches or PCs, but a lifestyle for those seduced by its design and brand promise.Dana Blankenhorn is a financial and technology journalist. He is the author of a new environmental story, Bridget O'Flynn and the Bear, available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AAPL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post AAPL Stock: Apple Software Becomes Lifestyle appeared first on InvestorPlace.

  • Buy Visa (V) Heading into Q3 Earnings?
    Zacks2 days ago

    Buy Visa (V) Heading into Q3 Earnings?

    Visa Inc. (V) is set to report its Q3 fiscal 2019 earnings results on Tuesday as second quarter earnings season heats up.

  • Alliance Data (ADS) Q2 Earnings Miss Estimates, Down Y/Y
    Zacks2 days ago

    Alliance Data (ADS) Q2 Earnings Miss Estimates, Down Y/Y

    Alliance Data (ADS) Q2 results reflect soft performance of the Card Service segment.

  • Visa (V) to Post Q3 Earnings: What's in Store for the Stock?
    Zacks2 days ago

    Visa (V) to Post Q3 Earnings: What's in Store for the Stock?

    Visa's (V) third-quarter fiscal 2019 earnings should benefit from revenue gains, partly offset by a rise in expenses.

  • TheStreet.comyesterday

    [video]The 3 Things Jim Cramer Must See Before He'll Buy An Expensive Stock

    Anything with a high P/E must have a large total addressable market, the ability to scale up its business and a wide 'moat.' One stock that fits the bill: Mastercard.

  • Is Facebook a Bank? Congress Pushes for Answers on Crypto Foray
    Bloomberg3 days ago

    Is Facebook a Bank? Congress Pushes for Answers on Crypto Foray

    (Bloomberg) -- After surviving a two-day battering on Capitol Hill, now comes the hard part for Facebook Inc.: turning its 12-page white paper into a legitimate cryptocurrency in the face of deep skepticism from central banks, regulators and politicians of all stripes.David Marcus, the Facebook executive leading its blockchain efforts, spent much of his time at congressional hearings this week apologizing for the past mistakes of his employer. When he wasn’t defending Facebook, Marcus tried to explain how Libra -- the proposed currency -- would actually work. He said repeatedly that he wants to work with Congress and regulators to get Libra off the ground, and has no plans to debut the new currency before regulatory bodies are satisfied.“Nothing is launched and nothing will launch until all concerns are addressed,” Marcus said Wednesday. He reiterated a version of that promise over and over during more than six hours of testimony in Washington this week before members of the House Financial Services Committee and the Senate Banking Committee.Still, large existential questions remain about the project, including who or what will be regulating Libra. Marcus said it was not his place to decide who Libra’s regulator would be, though he appeared to reject the idea that Facebook should be treated like a bank. Marcus denied that the company would offer banking services, and also argued that he doesn’t believe Libra is a security that should fall under the Securities and Exchange Commission.Those issues are unlikely to be resolved soon, since the Libra currency doesn’t yet exist; and the Libra Association, the governing body made up of Facebook and other institutional partners that will be charged with overseeing the currency, has yet to be fully formed.The 28 companies that currently make up the association have not yet drafted a charter, and still must appoint a board and a general manager. Libra will also face additional concerns from international regulators and lawmakers, which could further delay its progress.In the meantime, two people familiar with Facebook’s cryptocurrency plans say the hearings did not give the company any immediate reason to change course.The people, who asked not to be identified because the planning is private, also said that Facebook’s team hoped that other members of the Libra Association would be more active in conversations with the media and with regulators. Of the group’s 28 “founding” members, including PayPal Holdings Inc., Visa Inc. and Uber Technologies Inc., Facebook is the only one that testified before Congress, and is by far the company most closely associated with the effort.Over the course of the hearings, a few central questions emerged. Here’s what we know now about how Facebook and the Libra Association will try to answer them in the coming months.1\. What is Libra, exactly?The coin’s legal classification remains murky, which could pose challenges for federal watchdogs eager to slide the token into the U.S.’s existing regulatory regime.Some observers have argued that Libra resembles a mutual fund or exchange-traded fund that is based on an index, an investment that would be regulated by the SEC. Labeling Libra a similar product could provide policy makers the hook they need to police the coin, while also giving regulators a mechanism to slow the project down as Facebook goes through a lengthy SEC approval process.At Wednesday’s hearing, Marcus insisted the coin is a just “payment tool” or maybe a commodity that shouldn’t be subject to the SEC’s rules.2\. Is Facebook getting into banking?Marcus went to great lengths in his Senate and House testimony to insist that the company was not. There won’t be bank accounts; holders of Libra won’t be earning interest; and Facebook won’t be taking deposits, he told lawmakers.“It’s like digital cash,” Marcus said. One reason Facebook wants to stay away from these activities is that they would require a federal banking charter. That would open the company up to much stricter oversight, likely by the Office of the Comptroller of the Currency and the Federal Reserve. The company would face many new, costly regulatory requirements like capital standards and stepped-up disclosures. It would also be subject to monitoring by government examiners.3\. Why is the Libra Association headquartered in Switzerland?This was a very popular question from members of both the House and Senate. Lawmakers raised concerns that Facebook set up the Libra Association in Switzerland to avoid U.S. regulations. Marcus said that was not the case, and said that the location of Libra’s headquarters had “nothing to do with us evading our responsibilities.”Marcus said that Switzerland offered Libra an “international platform” so that it would be recognized globally, and noted that Switzerland is home to other global institutions, like the World Trade Organization.4\. How will Facebook make money from this?In the short term, Marcus says Libra will improve Facebook’s advertising business by increasing the amount of commerce that happens through Facebook’s products. If more people have digital wallets, they may be more likely to make purchases through Facebook or its other properties, like Instagram or Messenger. That, Marcus says, makes Facebook’s ads more valuable because it gives marketers more incentive to reach users with money at their disposal.Marcus also said that it’s possible Facebook could one day offer financial services, including, potentially, loans, but that those products would be done through partnerships with an existing bank, allowing the company to avoid opening a bank of its own.5\. What, if anything, can Congress actually do to stop Libra?While both chambers of Congress are clearly concerned, whether or not they will pass any legislation that would affect the project is less clear. House Financial Services Committee Chairwoman Maxine Waters, a California Democrat, discussed a bill that would bar large tech platforms from being financial institutions -- possibly blocking Libra -- though it’s unclear how much support such a proposal would garner.Other lawmakers discussed creating a regulator just for digital currencies or using broader data privacy legislation to address Libra. But so far, there’s no consensus on a resolution. As Congress nears its August recess, it’s unlikely any of those issues will be addressed quickly.\--With assistance from Austin Weinstein, Ben Bain and Robert Schmidt.To contact the reporters on this story: Kurt Wagner in San Francisco at kwagner71@bloomberg.net;Julie Verhage in New York at jverhage2@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Anne VanderMey, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Buy American Express Stock Ahead of Q2 Earnings Report?
    Zacks3 days ago

    Buy American Express Stock Ahead of Q2 Earnings Report?

    American Express (AXP) was able to hit a new all-time high Wednesday,

  • Business Wire3 days ago

    Visa Inc. Declares Quarterly Dividend

    Visa Inc. today announced that on July 15, 2019, its Board of Directors declared a quarterly cash dividend of $0.25 per share of class A common stock , payable on September 3, 2019, to all holders of record as of August 16, 2019.

  • Big tech companies help U.S. T. Rowe Price stock funds beat S&P 500
    American City Business Journals3 days ago

    Big tech companies help U.S. T. Rowe Price stock funds beat S&P 500

    T. Rowe Price saw 14 of its U.S. stock mutual funds outperform the S&P; 500\. Are you invested in any of them?

  • Libra Cryptocurrency Transactions Might Not Start in 2020
    Market Realist3 days ago

    Libra Cryptocurrency Transactions Might Not Start in 2020

    While Facebook set the middle of 2020 as the Libra Cryptocurrency's launch date, many people think that the deadline might be too aggressive.

  • Libra and Big Tech Go to Capitol Hill and Cryptocurrencies Fall
    Market Realist3 days ago

    Libra and Big Tech Go to Capitol Hill and Cryptocurrencies Fall

    Yesterday, Facebook’s (FB) David Marcus, head of Facebook’s Calibra wallet, visited Capitol Hill to testify in front of the Senate Banking Committee.

  • What to Expect From Visa’s Q3 Earnings
    Market Realist3 days ago

    What to Expect From Visa’s Q3 Earnings

    On July 23, Visa (V) is scheduled to report its third-quarter earnings for the quarter ending June 30. Analysts expect Visa’s third-quarter revenues to be $5,699 million.

  • Visa Eyes Southeast Asian Market Via Investment in GOJEK
    Zacks3 days ago

    Visa Eyes Southeast Asian Market Via Investment in GOJEK

    Visa (V) invests in GOJEK to expand footprint in the Southeast Asian payments market.

  • Omnicom (OMC) Beats Earnings and Revenue Estimates in Q2
    Zacks3 days ago

    Omnicom (OMC) Beats Earnings and Revenue Estimates in Q2

    Omnicom's (OMC) second-quarter 2019 earnings improve on a year-over-year basis but sales decline.

  • Here's Why You Should Add Accenture Stock to Your Portfolio
    Zacks3 days ago

    Here's Why You Should Add Accenture Stock to Your Portfolio

    Considering the growing need for cloud-based applications and software, Accenture's (ACN) investment in this space should propel long-term growth.

  • Business Wire3 days ago

    Visa Acquires Payworks

    Visa (NYSE:V) today announced it has acquired Payworks, a Munich-based provider of next-generation payment gateway software for the Point of Sale (POS). Visa will bring Payworks’ cloud-based solution for in-store payment processing together with its CyberSource digital payment management platform to create a fully integrated payment acceptance solution for merchants and acquirers.

  • Visa earnings: As Facebook seeks to change payments, Visa stays the course
    MarketWatch3 days ago

    Visa earnings: As Facebook seeks to change payments, Visa stays the course

    As Facebook Inc. swims in criticism over its new efforts in cryptocurrency, the stalwarts of payments continue to thrive. Visa Inc. shares hit a new all-time high last week, and the card company will be looking to show that it remains on the cutting edge of digital payments when it reports earnings next Tuesday afternoon.

  • Visa Invests in Go-Jek to Push Digital Payments in Southeast Asia
    Bloomberg3 days ago

    Visa Invests in Go-Jek to Push Digital Payments in Southeast Asia

    (Bloomberg) -- Visa Inc. has become the latest investor in ride-hailing giant Go-Jek as the two companies push digital payments across Southeast Asia.The world’s biggest payments network has invested an undisclosed amount in Go-Jek as part of the Indonesian company’s ongoing series F fundraising round, the two companies said Wednesday. The move follows Go-Jek’s announcement this month it had secured funding from Thailand’s Siam Commercial Bank Plc, Mitsubishi Motors Corp., Mitsubishi Corp. and Mitsubishi UFJ Lease & Finance Co. The terms of that deal were also not disclosed.Go-Jek, which debuted its app for hailing motorbike taxis in Jakarta in 2015, is expanding beyond Indonesia to cater to consumers across Southeast Asia, building an all-purpose consumer app similar to Tencent Holdings Ltd.’s WeChat in China. It’s valued at $10 billion according to CB Insights, and hosts more than 20 on-demand services on its platform from food delivery to digital payments.The two companies have “a shared goal to bring formal financial services to the unbanked and underserved, including micro, small and medium businesses,” Visa Regional President Asia Pacific Chris Clark said in a statement. “We will explore ways to leverage the power of Go-Jek and Visa’s networks to expand financial access in Southeast Asia.”Visa and Mastercard Inc. have teamed up with mobile startups in Southeast Asia in recent years, where the vast majority of transactions are still cash-based and the pace of adoption of digital payments is slow. Mastercard has partnered with Go-Jek rival Grab, while Visa has announced a partnership with gaming accessories maker Razer Inc.To contact the reporter on this story: Yoolim Lee in Singapore at yoolim@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.