VISA INC., 10-Q filed on 7/26/2023
Quarterly Report
v3.23.2
Cover - shares
 9 Months Ended
Jun. 30, 2023
Jul. 19, 2023
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2023  
Document Transition Report false  
Entity File Number 001-33977  
Entity Registrant Name VISA INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 26-0267673  
Entity Address, Address Line One P.O. Box 8999  
Entity Address, City or Town San Francisco,  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94128-8999  
City Area Code 650  
Local Phone Number 432-3200  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001403161  
Current Fiscal Year End Date --09-30  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Class A common stock    
Document Information [Line Items]    
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share  
Trading Symbol V  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   1,606,787,603
2026 Notes    
Document Information [Line Items]    
Title of 12(b) Security 1.500% Senior Notes due 2026  
Trading Symbol V26  
Security Exchange Name NYSE  
2029 Notes    
Document Information [Line Items]    
Title of 12(b) Security 2.000% Senior Notes due 2029  
Trading Symbol V29  
Security Exchange Name NYSE  
2034 Notes    
Document Information [Line Items]    
Title of 12(b) Security 2.375% Senior Notes due 2034  
Trading Symbol V34  
Security Exchange Name NYSE  
Class B common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   245,513,385
Class C common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   9,539,598
v3.23.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Assets    
Cash and cash equivalents $ 15,590 $ 15,689
Restricted cash equivalents—U.S. litigation escrow 1,627 1,449
Investment securities 3,166 2,833
Settlement receivable 2,454 1,932
Accounts receivable 2,282 2,020
Customer collateral 2,907 2,342
Current portion of client incentives 1,525 1,272
Prepaid expenses and other current assets 2,119 2,668
Total current assets 31,670 30,205
Investment securities 2,122 2,136
Client incentives 3,811 3,348
Property, equipment and technology, net 3,370 3,223
Goodwill 18,082 17,787
Intangible assets, net 26,576 25,065
Other assets 3,603 3,737
Total assets 89,234 85,501
Liabilities    
Accounts payable 281 340
Settlement payable 3,675 3,281
Customer collateral 2,907 2,342
Accrued compensation and benefits 1,215 1,359
Client incentives 7,532 6,099
Accrued liabilities 4,075 3,726
Current maturities of debt 0 2,250
Accrued litigation 1,545 1,456
Total current liabilities 21,230 20,853
Long-term debt 20,560 20,200
Deferred tax liabilities 5,380 5,332
Other liabilities 3,083 3,535
Total liabilities 50,253 49,920
Equity    
Preferred stock 1,786 2,324
Common stock and additional paid-in capital 20,290 19,545
Right to recover for covered losses (25) (35)
Accumulated income 17,908 16,116
Accumulated other comprehensive income (loss), net:    
Investment securities (80) (106)
Defined benefit pension and other postretirement plans (158) (169)
Derivative instruments (259) 418
Foreign currency translation adjustments (481) (2,512)
Total accumulated other comprehensive income (loss), net (978) (2,369)
Total equity 38,981 35,581
Total liabilities and equity $ 89,234 $ 85,501
v3.23.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares
shares in Millions
Jun. 30, 2023
Sep. 30, 2022
Preferred Stock    
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 25 25
Preferred stock, shares issued (in shares) 5 5
Preferred stock, shares outstanding (in shares) 5 5
Series A preferred stock    
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Series B preferred stock    
Preferred stock, shares issued (in shares) 2 2
Preferred stock, shares outstanding (in shares) 2 2
Series C preferred stock    
Preferred stock, shares issued (in shares) 3 3
Preferred stock, shares outstanding (in shares) 3 3
Common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,003,341 2,003,341
Common stock, shares issued (in shares) 1,862 1,890
Common stock, shares outstanding (in shares) 1,862 1,890
Class A common stock    
Common stock, shares authorized (in shares) 2,001,622 2,001,622
Common stock, shares issued (in shares) 1,607 1,635
Common stock, shares outstanding (in shares) 1,607 1,635
Class B common stock    
Common stock, shares authorized (in shares) 622 622
Common stock, shares issued (in shares) 245 245
Common stock, shares outstanding (in shares) 245 245
Class C common stock    
Common stock, shares authorized (in shares) 1,097 1,097
Common stock, shares issued (in shares) 10 10
Common stock, shares outstanding (in shares) 10 10
v3.23.2
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net revenues $ 8,123 $ 7,275 $ 24,044 $ 21,523
Operating Expenses        
Personnel 1,481 1,283 4,333 3,634
Marketing 297 313 938 907
Network and processing 182 178 539 558
Professional fees 133 117 372 342
Depreciation and amortization 235 230 696 635
General and administrative 314 289 918 856
Litigation provision 457 717 798 865
Total operating expenses 3,099 3,127 8,594 7,797
Operating income 5,024 4,148 15,450 13,726
Non-operating Income (Expense)        
Interest expense (182) (111) (461) (379)
Investment income (expense) and other 304 (208) 412 (79)
Total non-operating income (expense) 122 (319) (49) (458)
Income before income taxes 5,146 3,829 15,401 13,268
Income tax provision 990 418 2,809 2,251
Net income $ 4,156 $ 3,411 $ 12,592 $ 11,017
Class A common stock        
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 2.00 $ 1.60 $ 6.03 $ 5.15
Basic Weighted-average Shares Outstanding (in shares) 1,614 1,642 1,623 1,655
Diluted Earnings Per Share (in dollars per share) $ 2.00 $ 1.60 $ 6.02 $ 5.14
Diluted Weighted-average Shares Outstanding (in shares) 2,080 2,129 2,092 2,143
Class B common stock        
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 3.20 $ 2.59 $ 9.65 $ 8.33
Basic Weighted-average Shares Outstanding (in shares) 245 245 245 245
Diluted Earnings Per Share (in dollars per share) $ 3.19 $ 2.59 $ 9.64 $ 8.33
Diluted Weighted-average Shares Outstanding (in shares) 245 245 245 245
Class C common stock        
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 8.00 $ 6.42 $ 24.10 $ 20.58
Basic Weighted-average Shares Outstanding (in shares) 10 10 10 10
Diluted Earnings Per Share (in dollars per share) $ 7.99 $ 6.41 $ 24.08 $ 20.56
Diluted Weighted-average Shares Outstanding (in shares) 10 10 10 10
v3.23.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income $ 4,156 $ 3,411 $ 12,592 $ 11,017
Investment securities:        
Net unrealized gain (loss) (18) (43) 33 (93)
Income tax effect 4 10 (7) 20
Defined benefit pension and other postretirement plans:        
Net unrealized actuarial gain (loss) and prior service credit (cost) 1 0 6 (1)
Income tax effect 0 0 (1) 0
Reclassification adjustments 3 0 7 2
Income tax effect (1) 0 (1) 0
Derivative instruments:        
Net unrealized gain (loss) (4) 348 (195) 539
Income tax effect 5 (68) 36 (103)
Reclassification adjustments 18 (9) 17 (48)
Income tax effect (10) 0 (17) 4
Foreign currency translation adjustments 14 (1,100) 1,513 (2,023)
Other comprehensive income (loss), net of tax 12 (862) 1,391 (1,703)
Comprehensive income $ 4,168 $ 2,549 $ 13,983 $ 9,314
v3.23.2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
Total
Preferred Stock
Common Stock and Additional Paid-in Capital
Right to Recover for Covered Losses
Accumulated Income
Accumulated Other Comprehensive Income (Loss), Net
Beginning balance (in shares) at Sep. 30, 2021   5        
Beginning balance at Sep. 30, 2021 $ 37,589 $ 3,080 $ 18,855 $ (133) $ 15,351 $ 436
Beginning balance (in shares) at Sep. 30, 2021     1,932      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 11,017       11,017  
Other comprehensive income (loss), net of tax (1,703)         (1,703)
VE territory covered losses incurred (31)     (31)    
Recovery through conversion rate adjustment 0 $ (141)   141    
Conversion to class A common stock upon sales into public market (in shares)   0 [1] 2      
Conversion to class A common stock upon sales into public market 0 $ (88) $ 88      
Share-based compensation expense 470   $ 470      
Stock issued under equity plans (in shares)     4      
Stock issued under equity plans 153   $ 153      
Restricted stock and performance-based shares settled in cash for taxes (in shares) [1]     0      
Restricted stock and performance-based shares settled in cash for taxes (117)   $ (117)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (2,409)       (2,409)  
Repurchase of class A common stock (in shares)     (46)      
Repurchase of class A common stock (9,486)   $ (487)   (8,999)  
Ending balance (in shares) at Jun. 30, 2022   5        
Ending balance at Jun. 30, 2022 35,483 $ 2,851 $ 18,962 (23) 14,960 (1,267)
Ending balance (in shares) at Jun. 30, 2022     1,892      
Beginning balance (in shares) at Mar. 31, 2022   5        
Beginning balance at Mar. 31, 2022 35,989 $ 2,987 $ 18,876 (120) 14,651 (405)
Beginning balance (in shares) at Mar. 31, 2022     1,903      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 3,411       3,411  
Other comprehensive income (loss), net of tax (862)         (862)
VE territory covered losses incurred (15)     (15)    
Recovery through conversion rate adjustment 0 $ (112)   112    
Conversion to class A common stock upon sales into public market (in shares)   0 [2] 1      
Conversion to class A common stock upon sales into public market 0 $ (24) $ 24      
Share-based compensation expense 152   $ 152      
Stock issued under equity plans (in shares) [2]     0      
Stock issued under equity plans 40   $ 40      
Restricted stock and performance-based shares settled in cash for taxes (in shares) [2]     0      
Restricted stock and performance-based shares settled in cash for taxes (1)   $ (1)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (798)       (798)  
Repurchase of class A common stock (in shares)     (12)      
Repurchase of class A common stock (2,433)   $ (129)   (2,304)  
Ending balance (in shares) at Jun. 30, 2022   5        
Ending balance at Jun. 30, 2022 35,483 $ 2,851 $ 18,962 (23) 14,960 (1,267)
Ending balance (in shares) at Jun. 30, 2022     1,892      
Beginning balance (in shares) at Sep. 30, 2022   5        
Beginning balance at Sep. 30, 2022 35,581 $ 2,324 [3] $ 19,545 (35) 16,116 (2,369)
Beginning balance (in shares) at Sep. 30, 2022     1,890      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 12,592       12,592  
Other comprehensive income (loss), net of tax 1,391         1,391
VE territory covered losses incurred (21)     (21)    
Recovery through conversion rate adjustment 1 $ (30)   31    
Conversion to class A common stock upon sales into public market (in shares)   0 [4] 8      
Conversion to class A common stock upon sales into public market 0 $ (508) $ 508      
Share-based compensation expense 591   $ 591      
Stock issued under equity plans (in shares)     4      
Stock issued under equity plans 189   $ 189      
Restricted stock and performance-based shares settled in cash for taxes (in shares)     (1)      
Restricted stock and performance-based shares settled in cash for taxes (125)   $ (125)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (2,823)       (2,823)  
Repurchase of class A common stock (in shares)     (39)      
Repurchase of class A common stock (8,395)   $ (418)   (7,977)  
Ending balance (in shares) at Jun. 30, 2023   5        
Ending balance at Jun. 30, 2023 38,981 $ 1,786 [3] $ 20,290 (25) 17,908 (978)
Ending balance (in shares) at Jun. 30, 2023     1,862      
Beginning balance (in shares) at Mar. 31, 2023   5        
Beginning balance at Mar. 31, 2023 38,565 $ 1,885 $ 20,095 (35) 17,610 (990)
Beginning balance (in shares) at Mar. 31, 2023     1,874      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 4,156       4,156  
Other comprehensive income (loss), net of tax 12         12
VE territory covered losses incurred (6)     (6)    
Recovery through conversion rate adjustment 0 $ (16)   16    
Conversion to class A common stock upon sales into public market (in shares)   0 [5] 1      
Conversion to class A common stock upon sales into public market 0 $ (83) $ 83      
Share-based compensation expense 191   $ 191      
Stock issued under equity plans (in shares)     1      
Stock issued under equity plans 71   $ 71      
Restricted stock and performance-based shares settled in cash for taxes (in shares)     (1)      
Restricted stock and performance-based shares settled in cash for taxes (7)   $ (7)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (937)       (937)  
Repurchase of class A common stock (in shares)     (13)      
Repurchase of class A common stock (3,064)   $ (143)   (2,921)  
Ending balance (in shares) at Jun. 30, 2023   5        
Ending balance at Jun. 30, 2023 $ 38,981 $ 1,786 [3] $ 20,290 $ (25) $ 17,908 $ (978)
Ending balance (in shares) at Jun. 30, 2023     1,862      
[1] Increase or decrease is less than one million shares.
[2] Increase or decrease is less than one million shares.
[3] As of June 30, 2023 and September 30, 2022, the book value of series A preferred stock was $544 million and $1.0 billion, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock
[4] Increase or decrease is less than one million shares.
[5] Increase or decrease is less than one million shares
v3.23.2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2022
Dividends declared, quarterly, per share (in dollars per share) $ 0.45 $ 0.375 $ 0.45 $ 0.375  
Dividends paid, quarterly, per share (in dollars per share) $ 0.45 $ 0.375 $ 0.45 $ 0.375  
Preferred stock $ 1,786   $ 1,786   $ 2,324
Series A preferred stock          
Preferred stock $ 544   $ 544   $ 1,000
v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income $ 12,592 $ 11,017
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Client incentives 8,858 7,435
Share-based compensation expense 591 470
Depreciation and amortization of property, equipment, technology and intangible assets 696 635
Deferred income taxes (253) (203)
VE territory covered losses incurred (21) (31)
(Gains) losses on equity investments, net 111 142
Other (7) (71)
Change in operating assets and liabilities:    
Settlement receivable (373) (248)
Accounts receivable (228) (80)
Client incentives (8,188) (7,038)
Other assets (66) (455)
Accounts payable (51) (29)
Settlement payable 114 886
Accrued and other liabilities (34) 37
Accrued litigation 87 506
Net cash provided by (used in) operating activities 13,828 12,973
Investing Activities    
Purchases of property, equipment and technology (754) (675)
Investment securities:    
Purchases (2,817) (4,415)
Proceeds from maturities and sales 2,410 2,580
Acquisitions, net of cash and restricted cash acquired 0 (1,945)
Purchases of other investments (81) (68)
Settlement of derivative instruments 402 0
Other investing activities 22 128
Net cash provided by (used in) investing activities (818) (4,395)
Financing Activities    
Repurchase of class A common stock (8,350) (9,486)
Repayments of debt (2,250) 0
Dividends paid (2,823) (2,409)
Proceeds from issuance of senior notes 0 3,218
Cash proceeds from issuance of class A common stock under equity plans 189 153
Restricted stock and performance-based shares settled in cash for taxes (125) (117)
Other financing activities 167 (15)
Net cash provided by (used in) financing activities (13,192) (8,656)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents 844 (725)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 662 (803)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 20,377 19,799
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 21,039 18,996
Supplemental Disclosure    
Cash paid for income taxes, net 3,013 2,891
Interest payments on debt 568 548
Accruals related to purchases of property, equipment and technology $ 87 $ 34
v3.23.2
Summary of Significant Accounting Policies
 9 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Note 1—Summary of Significant Accounting Policies
Organization. Visa Inc., together with its subsidiaries (Visa or the Company), is a global payments technology company that facilitates global commerce and money movement across more than 200 countries and territories. Visa operates one of the world’s largest electronic payments networks — VisaNet — which provides transaction processing services (primarily authorization, clearing and settlement). The Company offers products, solutions and services that facilitate secure, reliable and efficient money movement for participants in the ecosystem. Visa is not a financial institution and does not issue cards, extend credit or set rates and fees for account holders of Visa products. In most cases, account holder and merchant relationships belong to, and are managed by, Visa’s financial institution clients.
Consolidation and basis of presentation. The accompanying unaudited consolidated financial statements include the accounts of Visa and its consolidated entities and are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). The Company consolidates its majority-owned and controlled entities, including variable interest entities (VIEs) for which the Company is the primary beneficiary. The Company’s investments in VIEs have not been material to its unaudited consolidated financial statements as of and for the periods presented. Intercompany balances and transactions have been eliminated in consolidation.
The accompanying unaudited consolidated financial statements are presented in accordance with U.S. Securities and Exchange Commission (SEC) requirements for Quarterly Reports on Form 10-Q and, consequently, do not include all of the annual disclosures required by U.S. GAAP. Reference should be made to Visa’s Annual Report on Form 10-K for the year ended September 30, 2022 for additional disclosures, including a summary of the Company’s significant accounting policies.
In the opinion of management, the accompanying unaudited consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods presented. The results of operations for interim periods are not necessarily indicative of results for the full year.
Use of estimates. The preparation of the accompanying unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and reported amounts of revenues and expenses during the reporting period. These estimates may change as new events occur and additional information is obtained, and will be recognized in the period in which such changes occur. Future actual results could differ materially from these estimates.
Recently Adopted Accounting Pronouncement. In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. Subsequently, the FASB also issued amendments to this standard. The amendments in the ASU are effective upon issuance through December 31, 2024. During the prior quarter, the Company adopted certain optional expedients provided in this ASU in relation to contract modifications and hedge accounting. The adoption did not have a material impact on the consolidated financial statements.
v3.23.2
Acquisitions
 9 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions
Note 2—Acquisitions
Pending Acquisition
In June 2023, Visa entered into a definitive agreement to acquire Pismo Holdings, a cloud-native issuer processing and core banking platform with operations in Latin America, Asia Pacific and Europe, for $1.0 billion in cash. This acquisition is subject to customary closing conditions, including applicable regulatory reviews and approvals.
v3.23.2
Revenues
 9 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenues
Note 3—Revenues
The nature, amount, timing and uncertainty of the Company’s revenues and cash flows and how they are affected by economic factors are most appropriately depicted through the Company’s revenue categories and geographical markets. The following tables disaggregate the Company’s net revenues by revenue category and by geography:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions)
Service revenues$3,668 $3,189 $10,950 $9,903 
Data processing revenues4,105 3,579 11,751 10,673 
International transaction revenues2,920 2,560 8,466 6,942 
Other revenues597 517 1,735 1,440 
Client incentives(3,167)(2,570)(8,858)(7,435)
Net revenues $8,123 $7,275 $24,044 $21,523 

Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions)
U.S.$3,443 $3,170 $10,550 $9,427 
International4,680 4,105 13,494 12,096 
Net revenues$8,123 $7,275 $24,044 $21,523 
v3.23.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
 9 Months Ended
Jun. 30, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
Note 4—Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
The Company reconciles cash, cash equivalents, restricted cash and restricted cash equivalents reported in the consolidated balance sheets that aggregate to the beginning and ending balances shown in the consolidated statements of cash flows as follows:
June 30,
2023		September 30,
2022
(in millions)
Cash and cash equivalents$15,590 $15,689 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow1,627 1,449 
Customer collateral2,907 2,342 
Prepaid expenses and other current assets 915 897 
Cash, cash equivalents, restricted cash and restricted cash equivalents
$21,039 $20,377 
v3.23.2
U.S. and Europe Retrospective Responsibility Plans
 9 Months Ended
Jun. 30, 2023
Retrospective Responsibility Plans [Abstract]  
U.S. and Europe Retrospective Responsibility Plans
Note 5—U.S. and Europe Retrospective Responsibility Plans
U.S. Retrospective Responsibility Plan
Under the terms of the U.S. retrospective responsibility plan, the Company maintains an escrow account from which settlements of, or judgments in, certain litigation referred to as the “U.S. covered litigation” are paid. The accrual related to the U.S. covered litigation could be either higher or lower than the U.S. litigation escrow account balance. See Note 13—Legal Matters.
The following table presents the changes in the restricted cash equivalents—U.S. litigation escrow account:
Nine Months Ended
June 30,
20232022
 (in millions)
Balance at beginning of period$1,449 $894 
Deposits into the U.S. litigation escrow account850 850 
Payments to opt-out merchants(1), net of interest earned on escrow funds
(672)(261)
Balance at end of period$1,627 $1,483 
(1)These payments are associated with the interchange multidistrict litigation. See Note 13—Legal Matters.
Europe Retrospective Responsibility Plan
Visa Inc., Visa International and Visa Europe are parties to certain existing and potential litigation relating to the setting of multilateral interchange fee rates in the Visa Europe territory (VE territory covered litigation). Under the terms of the Europe retrospective responsibility plan, the Company is entitled to recover certain losses resulting from VE territory covered litigation (VE territory covered losses) through a periodic adjustment to the class A common stock conversion rates applicable to the series B and C preferred stock. VE territory covered losses are recorded in a contra-equity account referred to as “right to recover for covered losses” within stockholders’ equity before the corresponding adjustment to the applicable conversion rate is effected. Adjustments to the conversion rate may be executed once in any six-month period unless a single, individual loss greater than €20 million is incurred, in which case, the six-month limitation does not apply. When the adjustment to the conversion rate is made, the amount previously recorded in “right to recover for covered losses” as contra-equity is then recorded against the book value of the preferred stock within stockholders’ equity.
The following table presents the activities related to VE territory covered losses in preferred stock and “right to recover for covered losses” within stockholders’ equity:
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2022
$460 $812 $(35)
VE territory covered losses incurred(1)
— — (21)
Recovery through conversion rate adjustment(2)
(19)(11)31 
Balance as of June 30, 2023
$441 $801 $(25)
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2021$1,071 $1,523 $(133)
VE territory covered losses incurred(1)
— — (31)
Recovery through conversion rate adjustment(135)(6)141 
Balance as of June 30, 2022$936 $1,517 $(23)
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 13—Legal Matters.
(2)Adjustment to right to recover for covered losses for the conversion rate adjustment differs from the actual recovered amount due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustment.
The following table presents the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred stock recorded in stockholders’ equity within the Company’s consolidated balance sheets:
June 30, 2023September 30, 2022
As-converted Value of Preferred Stock(1),(2)
Book Value of Preferred Stock(1)
As-converted Value of Preferred Stock(1),(3)
Book Value of Preferred Stock(1)
(in millions)
Series B preferred stock$1,730 $441 $1,309 $460 
Series C preferred stock2,721 801 2,044 812 
Total4,451 1,242 3,353 1,272 
Less: right to recover for covered losses(25)(25)(35)(35)
Total recovery for covered losses available$4,426 $1,217 $3,318 $1,237 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
(2)As of June 30, 2023, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 2.937 and 3.629, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $237.48, Visa’s class A common stock closing stock price.
(3)As of September 30, 2022, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 2.971 and 3.645, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $177.65, Visa’s class A common stock closing stock price.
v3.23.2
Fair Value Measurements and Investments
 9 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Investments
Note 6—Fair Value Measurements and Investments
Assets and Liabilities Measured at Fair Value on a Recurring Basis
 Fair Value Measurements
Using Inputs Considered as
 Level 1Level 2
 June 30,
2023		September 30,
2022		June 30,
2023		September 30,
2022
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$12,605 $11,736 $— $— 
U.S. Treasury securities
175 799 — — 
Investment securities:
Marketable equity securities
347 437 — — 
U.S. government-sponsored debt securities
— — 1,153 457 
U.S. Treasury securities
3,788 4,005 — — 
Other current and non-current assets:
Money market funds
23 22 — — 
Derivative instruments
— — 197 1,131 
Total $16,938 $16,999 $1,350 $1,588 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$181 $146 $— $— 
Accrued and other liabilities:
Derivative instruments
— — 482 418 
Total $181 $146 $482 $418 
Level 1 assets and liabilities. Money market funds, U.S. Treasury securities and marketable equity securities are classified as Level 1 within the fair value hierarchy, as fair value is based on unadjusted quoted prices in active markets for identical assets. The Company’s deferred compensation liability is measured at fair value based on marketable equity securities held under the deferred compensation plan.
Level 2 assets and liabilities. The fair value of U.S. government-sponsored debt securities, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, assets. Derivative instruments are valued using inputs that are observable in the market or can be derived principally from or corroborated by observable market data.
U.S. Government-sponsored Debt Securities and U.S. Treasury Securities
The amortized cost, unrealized gains and losses and fair value of debt securities were as follows:
June 30, 2023
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$1,155 $— $(2)$1,153 
U.S. Treasury securities4,062 — (99)3,963 
Total$5,217 $— $(101)$5,116 
September 30, 2022
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$458 $— $(1)$457 
U.S. Treasury securities4,937 — (133)4,804 
Total$5,395 $— $(134)$5,261 
Debt securities with unrealized losses for less than 12 months and 12 months or greater were as follows:
June 30, 2023
Less Than 12 Months
12 Months or Greater
Fair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
(in millions)
U.S. government-sponsored debt securities$584 $(2)$— $— 
U.S. Treasury securities1,524 (17)2,165 (82)
Total$2,108 $(19)$2,165 $(82)
September 30, 2022
Less Than 12 Months
Fair ValueGross Unrealized Losses
(in millions)
U.S. government-sponsored debt securities$408 $(1)
U.S. Treasury securities3,507 (133)
Total$3,915 $(134)
The unrealized losses were primarily attributable to changes in interest rates.
The stated maturities of debt securities were as follows:
June 30,
2023
 (in millions)
Due within one year$2,994 
Due after 1 year through 5 years2,122 
Total$5,116 
Equity Securities
The Company’s non-marketable equity securities are investments in privately held companies without readily determinable market values. These investments are measured at fair value on a non-recurring basis and are classified as Level 3 due to the absence of quoted market prices, the inherent lack of liquidity and the fact that significant inputs used to measure fair value are unobservable and require management’s judgment.
The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of June 30, 2023 including cumulative unrealized gains and losses:
June 30,
2023
(in millions)
Initial cost basis$764 
Adjustments:
Upward adjustments899 
Downward adjustments (including impairment)(431)
Carrying amount, end of period$1,232 
Unrealized gains and losses included in the carrying value of the Company’s non-marketable equity securities still held as of June 30, 2023 and 2022 were as follows:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions)
Upward adjustments$75 $5 $94 $231 
Downward adjustments (including impairment)$— $(284)$(86)$(337)
For the three months ended June 30, 2023 and 2022, the Company recognized net unrealized gains of $96 million and net unrealized losses of $278 million, respectively, on marketable and non-marketable equity securities still held as of quarter end. For the nine months ended June 30, 2023 and 2022, the Company recognized net unrealized losses of $85 million and $262 million, respectively, on marketable and non-marketable equity securities still held as of quarter end.
Other Fair Value Disclosures
Debt. Debt instruments are measured at amortized cost on the Company’s consolidated balance sheets. The fair value of the debt instruments, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, assets. If measured at fair value in the financial statements, these instruments would be classified as Level 2 in the fair value hierarchy. As of June 30, 2023, the carrying value and estimated fair value of debt was $20.6 billion and $18.6 billion, respectively. As of September 30, 2022, the carrying value and estimated fair value of debt was $22.5 billion and $19.9 billion, respectively.
Other financial instruments not measured at fair value. As of June 30, 2023, the carrying values of settlement receivable and payable and customer collateral are an approximate fair value due to their generally short maturities. If measured at fair value in the financial statements, these financial instruments would be classified as Level 2 in the fair value hierarchy.
Non-financial assets. Certain non-financial assets such as goodwill, intangible assets and property, equipment and technology are subject to non-recurring fair value measurements if they are deemed to be impaired. The Company performed its annual impairment review of its indefinite-lived intangible assets and goodwill as of February 1, 2023, and concluded there was no impairment as of that date. No recent events or changes in circumstances indicated that impairment existed as of June 30, 2023
v3.23.2
Debt
 9 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Debt
Note 7—Debt
The Company had outstanding debt as follows:
June 30,
2023		September 30,
2022
Effective Interest Rate(1)
(in millions, except percentages)
U.S. dollar notes
2.80% Senior Notes due December 2022
$— $2,250 2.89 %
3.15% Senior Notes due December 2025
4,000 4,000 3.26 %
1.90% Senior Notes due April 2027
1,500 1,500 2.02 %
0.75% Senior Notes due August 2027
500 500 0.84 %
2.75% Senior Notes due September 2027
750 750 2.91 %
2.05% Senior Notes due April 2030
1,500 1,500 2.13 %
1.10% Senior Notes due February 2031
1,000 1,000 1.20 %
4.15% Senior Notes due December 2035
1,500 1,500 4.23 %
2.70% Senior Notes due April 2040
1,000 1,000 2.80 %
4.30% Senior Notes due December 2045
3,500 3,500 4.37 %
3.65% Senior Notes due September 2047
750 750 3.73 %
2.00% Senior Notes due August 2050
1,750 1,750 2.09 %
Euro notes
1.50% Senior Notes due June 2026
1,478 1,325 1.71 %
2.00% Senior Notes due June 2029
1,094 982 2.13 %
2.375% Senior Notes due June 2034
711 638 2.53 %
Total debt
21,033 22,945 
Unamortized discounts and debt issuance costs(164)(173)
Hedge accounting fair value adjustments(2)
(309)(322)
Total carrying value of debt
$20,560 $22,450 
Reported as:
Current maturities of debt$— $2,250 
Long-term debt20,560 20,200 
Total carrying value of debt
$20,560 $22,450 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes.
Senior Notes
During the nine months ended June 30, 2023, the Company repaid $2.25 billion of principal upon maturity of its senior notes due December 2022.
Non-derivative Financial Instrument Designated as a Net Investment Hedge
During the nine months ended June 30, 2023, the Company designated €1.8 billion of the Euro-denominated fixed-rate senior notes (Euro Notes) issued in June 2022 as a hedge against a portion of the Company’s Euro-denominated net investment in Visa Europe. As of June 30, 2023, all of the €3.0 billion Euro Notes were designated as a net investment hedge.
Credit Facility
In May 2023, the Company entered into an amended and restated credit agreement for a 5 year, unsecured $7.0 billion revolving credit facility, which will expire in May 2028. Interest on borrowings will be charged at the applicable reference rate or an alternative base rate as defined in the credit agreement based on the currency and
type of the borrowing, plus an applicable margin based on the applicable credit rating of the Company’s senior unsecured long-term debt. The Company has agreed to pay a commitment fee which will fluctuate based on such applicable rating of the Company. As of June 30, 2023, the Company was in compliance with all related covenants. This credit facility is maintained to ensure the integrity of the payment card settlement process and for general corporate purposes. As of June 30, 2023 and September 30, 2022, the Company had no amounts outstanding under the credit facility.
v3.23.2
Settlement Guarantee Management
 9 Months Ended
Jun. 30, 2023
Settlement Guarantee Management [Abstract]  
Settlement Guarantee Management
Note 8—Settlement Guarantee Management
The Company indemnifies its clients for settlement losses suffered due to failure of any other client to fund its settlement obligations in accordance with the Visa operating rules. This indemnification creates settlement risk for the Company due to the difference in timing between the date of a payment transaction and the date of subsequent settlement.
Historically, the Company has experienced minimal losses as a result of its settlement risk guarantee. However, the Company’s future obligations, which could be material under its guarantees, are not determinable as they are dependent upon future events.
The Company’s settlement exposure is limited to the amount of unsettled Visa payment transactions at any point in time, which vary significantly day to day. During the nine months ended June 30, 2023, the Company’s maximum daily settlement exposure was $125.6 billion and the average daily settlement exposure was $76.3 billion.
The Company maintains and regularly reviews global settlement risk policies and procedures to manage settlement exposure, which may require clients to post collateral if certain credit standards are not met. The Company held the following collateral to manage settlement exposure:
June 30,
2023		September 30,
2022
 (in millions)
Restricted cash and restricted cash equivalents$2,907 $2,342 
Pledged securities at market value408 213 
Letters of credit1,717 1,582 
Guarantees1,094 950 
Total$6,126 $5,087 
v3.23.2
Stockholders' Equity
 9 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Note 9—Stockholders’ Equity
As-converted class A common stock. The number of shares of each series and class, and the number of shares of class A common stock on an as-converted basis, were as follows:
June 30, 2023September 30, 2022
Shares
Outstanding		Conversion Rate Into 
Class A
Common Stock
As-converted Class A
Common
Stock(1)
Shares
Outstanding		Conversion Rate Into
Class A
Common Stock
As-converted Class A
Common
Stock(1)
(in millions, except conversion rate)
Series A preferred stock— 
(2)
100.0000 8 — 
(2)
100.0000 16 
Series B preferred stock2 2.9370 7 2 2.9710 7 
Series C preferred stock3 3.6290 11 3 3.6450 12 
Class A common stock1,607 — 1,607 1,635 — 1,635 
Class B common stock245 1.5902 
(3)
390 245 1.6059 
(3)
394 
Class C common stock10 4.0000 38 10 4.0000 39 
Total2,061 2,103 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.
(2)The number of shares outstanding was less than one million.
(3)The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.
Reduction in as-converted shares. The following table presents the reduction in the number of as-converted class B common stock after deposits into the U.S. litigation escrow account under the U.S. retrospective responsibility plan:
Nine Months Ended
June 30,
20232022
(in millions, except per share data)
Reduction in equivalent number of class A common stock4 4 
Effective price per share(1)
$219.70 $205.06 
Deposits into the U.S. litigation escrow account$850 $850 
(1)Effective price per share for the period represents the weighted-average price calculated using the effective prices per share of the respective adjustments made during the period. Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificate of incorporation.
The following table presents the reduction in the number of as-converted series B and C preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments under the Europe retrospective responsibility plan:
Nine Months Ended
June 30, 2023		Nine Months Ended
June 30, 2022
Series BSeries CSeries BSeries C
(in millions, except per share data)
Reduction in equivalent number of class A common stock— 
(1)
— 
(1)
1 — 
(1)
Effective price per share(2)
$219.12 $215.28 $203.08 $202.55 
Recovery through conversion rate adjustment
$19 $11 $135 $6 
(1)The reduction in equivalent number of shares of class A common stock was less than one million shares.
(2)Effective price per share for the period represents the weighted-average price calculated using the effective prices per share of the respective adjustments made during the period. Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C preferred stock.
Common stock repurchases. The following table presents share repurchases in the open market:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions, except per share data)
Shares repurchased in the open market(1)
13 12 39 46 
Average repurchase cost per share(2)
$229.00 $202.81 $214.44 $208.30 
Total cost(2)
$3,064 $2,433 $8,395 $9,486 
(1)Shares repurchased in the open market reflect repurchases that settled during the three and nine months ended June 30, 2023 and 2022, respectively. All shares repurchased in the open market have been retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase cost per share and total cost are calculated based on unrounded numbers and include applicable taxes.
In October 2022, the Company’s board of directors authorized a $12.0 billion share repurchase program. This authorization has no expiration date. As of June 30, 2023, the Company’s repurchase program had remaining authorized funds of $8.8 billion. All share repurchase programs authorized prior to October 2022 have been completed.
Dividends. During the three months ended June 30, 2023 and 2022, the Company declared and paid dividends of $937 million and $798 million, respectively. During the nine months ended June 30, 2023 and 2022, the Company declared and paid dividends of $2.8 billion and $2.4 billion, respectively. On July 25, 2023, the Company’s board of directors declared a quarterly cash dividend of $0.45 per share of class A common stock (determined in the case of class B and C common stock and series A, B and C preferred stock on an as-converted basis), payable on September 1, 2023, to all holders of record as of August 11, 2023.
v3.23.2
Earnings Per Share
 9 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share
Note 10—Earnings Per Share

The following table presents earnings per share for the three months ended June 30, 2023:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$3,228 1,614 $2.00 $4,156 2,080 
(3)
$2.00 
Class B common stock785 245 $3.20 $784 245 $3.19 
Class C common stock77 10 $8.00 $76 10 $7.99 
Participating securities66 Not presentedNot presented$66 Not presentedNot presented
Net income$4,156 
The following table presents earnings per share for the nine months ended June 30, 2023:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$9,778 1,623 $6.03 $12,592 2,092 
(3)
$6.02 
Class B common stock2,369 245 $9.65 $2,366 245 $9.64 
Class C common stock233 10 $24.10 $233 10 $24.08 
Participating securities212 Not presentedNot presented$211 Not presentedNot presented
Net income$12,592 
The following table presents earnings per share for the three months ended June 30, 2022:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$2,634 1,642 $1.60 $3,411 2,129 
(3)
$1.60 
Class B common stock637 245 $2.59 $636 245 $2.59 
Class C common stock64 10 $6.42 $64 10 $6.41 
Participating securities76 Not presentedNot presented$76 Not presentedNot presented
Net income$3,411 
The following table presents earnings per share for the nine months ended June 30, 2022:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$8,518 1,655 $5.15 $11,017 2,143 
(3)
$5.14 
Class B common stock2,046 245 $8.33 $2,044 245 $8.33 
Class C common stock207 10 $20.58 $207 10 $20.56 
Participating securities246 Not presentedNot presented$246 Not presentedNot presented
Net income$11,017 
(1)The weighted-average number of shares of as-converted class B common stock used in the income allocation was 393 million for the three and nine months ended June 30, 2023, and 397 million and 398 million for the three and nine months ended June 30, 2022, respectively. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 38 million and 39 million for the three and nine months ended June 30, 2023, respectively, and 40 million for the three and nine months ended June 30, 2022. The weighted-average number of shares of preferred stock included within participating securities was 8 million and 10 million of as-converted series A preferred stock for the three and nine months ended June 30, 2023, respectively, and 6 million of as-converted series A preferred stock for the three and nine months ended June 30, 2022, 7 million of as-converted series B preferred stock for the three and nine months ended June 30, 2023 and 15 million and 16 million of as-converted series B preferred stock for the three and nine months ended June 30, 2022, respectively and 11 million of as-converted series C preferred stock for the three and nine months ended June 30, 2023 and 22 million of as-converted series C preferred stock for the three and nine months ended June 30, 2022.
(2)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.
(3)Weighted-average diluted shares outstanding are calculated on an as-converted basis and include incremental common stock equivalents, as calculated under the treasury stock method. The common stock equivalents are not material for the three and nine months ended June 30, 2023 and 2022.
v3.23.2
Share-based Compensation
 9 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Compensation
Note 11—Share-based Compensation
The following table presents the equity awards granted to employees and non-employee directors under the amended and restated 2007 Equity Incentive Compensation Plan (EIP) during the nine months ended June 30, 2023:
GrantedWeighted-Average Grant Date Fair ValueWeighted-Average Exercise Price
Non-qualified stock options798,017 $58.56 $211.09 
Restricted stock units3,130,396 $210.81 
Performance-based shares(1)
551,818 $221.32 
(1)Represents the maximum number of performance-based shares which could be earned.
For the three months ended June 30, 2023 and 2022, the Company recorded share-based compensation expense related to the EIP of $184 million and $145 million, respectively. For the nine months ended June 30, 2023 and 2022, the Company recorded share-based compensation expense related to the EIP of $568 million and $447 million, respectively.
v3.23.2
Income Taxes
 9 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes
Note 12—Income Taxes
For the three and nine months ended June 30, 2023, the effective income tax rates were 19% and 18%, respectively, and for the three and nine months ended June 30, 2022, the effective income tax rates were 11% and 17%, respectively. The difference in the effective tax rates is primarily due to the following:
•During the nine months ended June 30, 2023, a $142 million tax benefit related to prior years due to the reassessment of an uncertain tax position as a result of new information obtained during an ongoing tax examination; and
•During the three months ended June 30, 2022, a $176 million tax benefit related to prior years due to a decrease in the state apportionment ratio as a result of a tax position taken related to a ruling.
During the three and nine months ended June 30, 2023, the Company’s gross unrecognized tax benefits increased by $615 million and $593 million, respectively. The Company’s net unrecognized tax benefits that, if recognized, would favorably impact the effective tax rate, increased by $315 million and $192 million, respectively. The change in unrecognized tax benefits is related to various tax positions across several jurisdictions, including refund claims filed during the quarter. Additionally, the nine month period reflects the change in unrecognized tax benefits related to the reassessment mentioned above.
The Company’s tax filings are subject to examination by U.S. federal, state and foreign taxing authorities. The timing and outcome of the final resolutions of the various ongoing income tax examinations are highly uncertain. It is not reasonably possible to estimate the increase or decrease in unrecognized tax benefits within the next twelve months.
v3.23.2
Legal Matters
 9 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Legal Matters
Note 13—Legal Matters
The Company is party to various legal and regulatory proceedings. Some of these proceedings involve complex claims that are subject to substantial uncertainties and unascertainable damages. For those proceedings where a loss is determined to be only reasonably possible or probable but not estimable, the Company has disclosed the nature of the claim. Additionally, unless otherwise disclosed below with respect to these proceedings, the Company cannot provide an estimate of the possible loss or range of loss. Although the Company believes that it has strong defenses for the litigation and regulatory proceedings described below, it could, in the future, incur judgments or fines or enter into settlements of claims that could have a material adverse effect on the Company’s financial position, results of operations or cash flows. From time to time, the Company may engage in settlement discussions or mediations with respect to one or more of its outstanding litigation matters, either on its own behalf or collectively with other parties.
The litigation accrual is an estimate and is based on management’s understanding of its litigation profile, the specifics of each case, advice of counsel to the extent appropriate and management’s best estimate of incurred loss as of the balance sheet date.
The following table summarizes the activity related to accrued litigation:
 Nine Months Ended
June 30,
 20232022
 (in millions)
Balance at beginning of period$1,456 $983 
Provision for uncovered legal matters1 2 
Provision for covered legal matters808 878 
Payments for legal matters(720)(377)
Balance at end of period$1,545 $1,486 
Accrual Summary—U.S. Covered Litigation
Visa Inc., Visa U.S.A. and Visa International are parties to certain legal proceedings that are covered by the U.S. retrospective responsibility plan, which the Company refers to as the U.S. covered litigation. An accrual for the
U.S. covered litigation and a charge to the litigation provision are recorded when a loss is deemed to be probable and reasonably estimable. In making this determination, the Company evaluates available information, including but not limited to actions taken by the Company’s litigation committee. The total accrual related to the U.S. covered litigation could be either higher or lower than the escrow account balance. See further discussion below under U.S. Covered Litigation and Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table summarizes the accrual activity related to U.S. covered litigation:
 Nine Months Ended
June 30,
 20232022
 (in millions)
Balance at beginning of period$1,441 $881 
Provision for interchange multidistrict litigation797 861 
Payments for U.S. covered litigation(699)(262)
Balance at end of period$1,539 $1,480 
During the three and nine months ended June 30, 2023, the Company recorded additional accruals of $456 million and $797 million, respectively, and deposited $500 million and $850 million, respectively, into the U.S. litigation escrow account to address claims associated with the interchange multidistrict litigation. The U.S. covered litigation accrual balance is consistent with the Company’s best estimate of its share of a probable and reasonably estimable loss with respect to the U.S. covered litigation. While this estimate is consistent with the Company’s view of the current status of the litigation, the probable and reasonably estimable loss or range of such loss could materially vary based on developments in the litigation. The Company will continue to consider and reevaluate this estimate in light of the substantial uncertainties with respect to the litigation. The Company is unable to estimate a potential loss or range of loss, if any, at trial if negotiated resolutions cannot be reached.
Accrual Summary—VE Territory Covered Litigation
Visa Inc., Visa International and Visa Europe are parties to certain legal proceedings that are covered by the Europe retrospective responsibility plan. Unlike the U.S. retrospective responsibility plan, the Europe retrospective responsibility plan does not have an escrow account that is used to fund settlements or judgments. The Company is entitled to recover VE territory covered losses through periodic adjustments to the conversion rates applicable to the series B and C preferred stock. An accrual for the VE territory covered losses and a reduction to stockholders’ equity will be recorded when the loss is deemed to be probable and reasonably estimable. See further discussion below under VE Territory Covered Litigation and Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table summarizes the accrual activity related to VE territory covered litigation:
 Nine Months Ended
June 30,
 20232022
(in millions)
Balance at beginning of period$11 $102 
Provision for VE territory covered litigation11 17 
Payments for VE territory covered litigation(19)(114)
Balance at end of period$3 $5 
U.S. Covered Litigation
Interchange Multidistrict Litigation (MDL) - Putative Class Actions
On March 15, 2023, the U.S. Court of Appeals for the Second Circuit affirmed the final approval of the Amended Settlement Agreement by the district court.
Interchange Multidistrict Litigation (MDL) - Individual Merchant Actions
Visa has reached settlements with a number of merchants representing approximately 70% of the Visa-branded payment card sales volume of merchants who opted out of the Amended Settlement Agreement with the Damages Class plaintiffs. Additional summary judgment motions were filed by plaintiffs and defendants in an individual merchant action.
On July 14, 2023, Block, Inc. filed a lawsuit against Visa Inc., Visa U.S.A., Visa International, Mastercard Incorporated, and Mastercard International Incorporated in the U.S. District Court for the Eastern District of New York, generally pursuing claims on allegations similar to those raised in MDL 1720. Square, a business unit of Block, Inc., previously submitted a request to opt out of the Amended Settlement Agreement. The parties have requested reassignment of the case to the judge presiding over MDL 1720 for inclusion in MDL 1720.
Consumer Interchange Litigation
On December 30, 2022, a putative class action was filed in California state court against Visa, Mastercard, and certain financial institutions on behalf of all Visa and Mastercard cardholders in California who made a purchase using a Visa-branded or Mastercard-branded payment card in California from January 1, 2004. Plaintiffs primarily allege a conspiracy to fix interchange fees and seek injunctive relief, attorneys’ fees and damages as direct and indirect purchasers based on alleged violations of California law. On January 11, 2023, plaintiffs filed an amended complaint asserting the same claims as asserted in the prior complaint. On January 30, 2023, Visa removed the action to federal court. On February 10, 2023, the Judicial Panel on Multidistrict Litigation issued an order transferring the case to MDL 1720. On June 15, 2023, plaintiffs’ motion to remand the case to California state court was denied, and plaintiffs have appealed.
VE Territory Covered Litigation
Europe Merchant Litigation
Since July 2013, proceedings have been commenced by more than 1,100 Merchants (the capitalized term “Merchant” when used in this section, means a Merchant together with subsidiary/affiliate companies that are party to the same claim) against Visa Europe, Visa Inc. and other Visa subsidiaries in the UK and other countries primarily relating to interchange rates in Europe and in some cases relating to fees charged by Visa and certain Visa rules. As of the filing date, Visa has settled the claims asserted by over 175 Merchants, and there are approximately 900 Merchants with outstanding claims. In addition, over 30 additional Merchants have threatened to commence similar proceedings. Standstill agreements have been entered into with respect to some of those threatened Merchant claims, several of which have been settled.
On June 8, 2023, the UK Competition Appeal Tribunal denied class certification in the two class action claims.
Other Litigation
Visa’s motion challenging jurisdiction in the class action regarding interchange on cross-border transactions and the Honor All Cards rule in Israel was denied.
Other Litigation
U.S. ATM Access Fee Litigation
On July 25, 2023, the U.S. Court of Appeals for the District of Columbia Circuit affirmed the district court’s class certification decisions.
European Commission Staged Digital Wallets Investigation
On February 16, 2023, the European Commission (EC) notified Visa that the matter has been closed.
German ATM Litigation
On July 6, 2023, one of the challenges to the jurisdiction of the German courts was denied.
EMV Chip Liability Shift
On November 30, 2022, Visa, jointly with other defendants, served a motion for summary judgment regarding the claims in the amended complaint and a motion to decertify the class.
U.S. Department of Justice Civil Investigative Demand (2021)
On January 4, 2023 and May 2, 2023, the Antitrust Division of the U.S. Department of Justice (Division) issued further Civil Investigative Demands seeking additional documents and information focusing on U.S. debit and competition with other payment methods and networks. Visa is cooperating with the Division in connection with the investigation.
Foreign Currency Exchange Rate Litigation
On December 21, 2022, plaintiffs filed a third amended complaint asserting the same claims as asserted in the prior complaints. On February 3, 2023, Visa filed a motion to dismiss the third amended complaint.
European Commission Client Incentive Agreements Investigation
On December 2, 2022, the EC informed Visa that it had opened a preliminary investigation into Visa’s incentive agreements with clients. Visa is cooperating with the EC in connection with the investigation.
v3.23.2
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Pay vs Performance Disclosure        
Net Income (Loss) Attributable to Parent $ 4,156 $ 3,411 $ 12,592 $ 11,017
v3.23.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2023
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.23.2
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Consolidation and basis of presentation
Consolidation and basis of presentation. The accompanying unaudited consolidated financial statements include the accounts of Visa and its consolidated entities and are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). The Company consolidates its majority-owned and controlled entities, including variable interest entities (VIEs) for which the Company is the primary beneficiary. The Company’s investments in VIEs have not been material to its unaudited consolidated financial statements as of and for the periods presented. Intercompany balances and transactions have been eliminated in consolidation.
The accompanying unaudited consolidated financial statements are presented in accordance with U.S. Securities and Exchange Commission (SEC) requirements for Quarterly Reports on Form 10-Q and, consequently, do not include all of the annual disclosures required by U.S. GAAP. Reference should be made to Visa’s Annual Report on Form 10-K for the year ended September 30, 2022 for additional disclosures, including a summary of the Company’s significant accounting policies.
In the opinion of management, the accompanying unaudited consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods presented. The results of operations for interim periods are not necessarily indicative of results for the full year.
Use of estimates Use of estimates. The preparation of the accompanying unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and reported amounts of revenues and expenses during the reporting period. These estimates may change as new events occur and additional information is obtained, and will be recognized in the period in which such changes occur. Future actual results could differ materially from these estimates.
Recently Adopted Accounting Pronouncement Recently Adopted Accounting Pronouncement. In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued because of reference rate reform. Subsequently, the FASB also issued amendments to this standard. The amendments in the ASU are effective upon issuance through December 31, 2024. During the prior quarter, the Company adopted certain optional expedients provided in this ASU in relation to contract modifications and hedge accounting. The adoption did not have a material impact on the consolidated financial statements.
v3.23.2
Revenues (Tables)
 9 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue The following tables disaggregate the Company’s net revenues by revenue category and by geography:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions)
Service revenues$3,668 $3,189 $10,950 $9,903 
Data processing revenues4,105 3,579 11,751 10,673 
International transaction revenues2,920 2,560 8,466 6,942 
Other revenues597 517 1,735 1,440 
Client incentives(3,167)(2,570)(8,858)(7,435)
Net revenues $8,123 $7,275 $24,044 $21,523 

Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions)
U.S.$3,443 $3,170 $10,550 $9,427 
International4,680 4,105 13,494 12,096 
Net revenues$8,123 $7,275 $24,044 $21,523 
v3.23.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Tables)
 9 Months Ended
Jun. 30, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]  
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
The Company reconciles cash, cash equivalents, restricted cash and restricted cash equivalents reported in the consolidated balance sheets that aggregate to the beginning and ending balances shown in the consolidated statements of cash flows as follows:
June 30,
2023		September 30,
2022
(in millions)
Cash and cash equivalents$15,590 $15,689 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow1,627 1,449 
Customer collateral2,907 2,342 
Prepaid expenses and other current assets 915 897 
Cash, cash equivalents, restricted cash and restricted cash equivalents
$21,039 $20,377 
v3.23.2
U.S. and Europe Retrospective Responsibility Plans (Tables)
 9 Months Ended
Jun. 30, 2023
Retrospective Responsibility Plans [Abstract]  
Changes in the U.S. litigation escrow account
The following table presents the changes in the restricted cash equivalents—U.S. litigation escrow account:
Nine Months Ended
June 30,
20232022
 (in millions)
Balance at beginning of period$1,449 $894 
Deposits into the U.S. litigation escrow account850 850 
Payments to opt-out merchants(1), net of interest earned on escrow funds
(672)(261)
Balance at end of period$1,627 $1,483 
(1)These payments are associated with the interchange multidistrict litigation. See Note 13—Legal Matters.
Changes in Preferred Stock and Right to Recover for Covered Losses
The following table presents the activities related to VE territory covered losses in preferred stock and “right to recover for covered losses” within stockholders’ equity:
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2022
$460 $812 $(35)
VE territory covered losses incurred(1)
— — (21)
Recovery through conversion rate adjustment(2)
(19)(11)31 
Balance as of June 30, 2023
$441 $801 $(25)
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of September 30, 2021$1,071 $1,523 $(133)
VE territory covered losses incurred(1)
— — (31)
Recovery through conversion rate adjustment(135)(6)141 
Balance as of June 30, 2022$936 $1,517 $(23)
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 13—Legal Matters.
(2)Adjustment to right to recover for covered losses for the conversion rate adjustment differs from the actual recovered amount due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustment.
Preferred Stock As-Converted Value and Book Value
The following table presents the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred stock recorded in stockholders’ equity within the Company’s consolidated balance sheets:
June 30, 2023September 30, 2022
As-converted Value of Preferred Stock(1),(2)
Book Value of Preferred Stock(1)
As-converted Value of Preferred Stock(1),(3)
Book Value of Preferred Stock(1)
(in millions)
Series B preferred stock$1,730 $441 $1,309 $460 
Series C preferred stock2,721 801 2,044 812 
Total4,451 1,242 3,353 1,272 
Less: right to recover for covered losses(25)(25)(35)(35)
Total recovery for covered losses available$4,426 $1,217 $3,318 $1,237 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
(2)As of June 30, 2023, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 2.937 and 3.629, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $237.48, Visa’s class A common stock closing stock price.
(3)As of September 30, 2022, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 2.971 and 3.645, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $177.65, Visa’s class A common stock closing stock price.
v3.23.2
Fair Value Measurements and Investments (Tables)
 9 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
 Fair Value Measurements
Using Inputs Considered as
 Level 1Level 2
 June 30,
2023		September 30,
2022		June 30,
2023		September 30,
2022
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$12,605 $11,736 $— $— 
U.S. Treasury securities
175 799 — — 
Investment securities:
Marketable equity securities
347 437 — — 
U.S. government-sponsored debt securities
— — 1,153 457 
U.S. Treasury securities
3,788 4,005 — — 
Other current and non-current assets:
Money market funds
23 22 — — 
Derivative instruments
— — 197 1,131 
Total $16,938 $16,999 $1,350 $1,588 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$181 $146 $— $— 
Accrued and other liabilities:
Derivative instruments
— — 482 418 
Total $181 $146 $482 $418 
Schedule of Amortized Cost, Unrealized Gains and Losses, and Fair Value of Debt Securities
The amortized cost, unrealized gains and losses and fair value of debt securities were as follows:
June 30, 2023
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$1,155 $— $(2)$1,153 
U.S. Treasury securities4,062 — (99)3,963 
Total$5,217 $— $(101)$5,116 
September 30, 2022
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$458 $— $(1)$457 
U.S. Treasury securities4,937 — (133)4,804 
Total$5,395 $— $(134)$5,261 
Debt securities with unrealized losses for less than 12 months and 12 months or greater were as follows:
June 30, 2023
Less Than 12 Months
12 Months or Greater
Fair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
(in millions)
U.S. government-sponsored debt securities$584 $(2)$— $— 
U.S. Treasury securities1,524 (17)2,165 (82)
Total$2,108 $(19)$2,165 $(82)
September 30, 2022
Less Than 12 Months
Fair ValueGross Unrealized Losses
(in millions)
U.S. government-sponsored debt securities$408 $(1)
U.S. Treasury securities3,507 (133)
Total$3,915 $(134)
Debt Securities Classified by Contractual Maturity Date
The stated maturities of debt securities were as follows:
June 30,
2023
 (in millions)
Due within one year$2,994 
Due after 1 year through 5 years2,122 
Total$5,116 
Schedule of Non-Marketable Equity Securities
The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of June 30, 2023 including cumulative unrealized gains and losses:
June 30,
2023
(in millions)
Initial cost basis$764 
Adjustments:
Upward adjustments899 
Downward adjustments (including impairment)(431)
Carrying amount, end of period$1,232 
Unrealized gains and losses included in the carrying value of the Company’s non-marketable equity securities still held as of June 30, 2023 and 2022 were as follows:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions)
Upward adjustments$75 $5 $94 $231 
Downward adjustments (including impairment)$— $(284)$(86)$(337)
v3.23.2
Debt (Tables)
 9 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Debt
The Company had outstanding debt as follows:
June 30,
2023		September 30,
2022
Effective Interest Rate(1)
(in millions, except percentages)
U.S. dollar notes
2.80% Senior Notes due December 2022
$— $2,250 2.89 %
3.15% Senior Notes due December 2025
4,000 4,000 3.26 %
1.90% Senior Notes due April 2027
1,500 1,500 2.02 %
0.75% Senior Notes due August 2027
500 500 0.84 %
2.75% Senior Notes due September 2027
750 750 2.91 %
2.05% Senior Notes due April 2030
1,500 1,500 2.13 %
1.10% Senior Notes due February 2031
1,000 1,000 1.20 %
4.15% Senior Notes due December 2035
1,500 1,500 4.23 %
2.70% Senior Notes due April 2040
1,000 1,000 2.80 %
4.30% Senior Notes due December 2045
3,500 3,500 4.37 %
3.65% Senior Notes due September 2047
750 750 3.73 %
2.00% Senior Notes due August 2050
1,750 1,750 2.09 %
Euro notes
1.50% Senior Notes due June 2026
1,478 1,325 1.71 %
2.00% Senior Notes due June 2029
1,094 982 2.13 %
2.375% Senior Notes due June 2034
711 638 2.53 %
Total debt
21,033 22,945 
Unamortized discounts and debt issuance costs(164)(173)
Hedge accounting fair value adjustments(2)
(309)(322)
Total carrying value of debt
$20,560 $22,450 
Reported as:
Current maturities of debt$— $2,250 
Long-term debt20,560 20,200 
Total carrying value of debt
$20,560 $22,450 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes.
v3.23.2
Settlement Guarantee Management (Tables)
 9 Months Ended
Jun. 30, 2023
Settlement Guarantee Management [Abstract]  
Schedule of Customer Collateral The Company held the following collateral to manage settlement exposure:
June 30,
2023		September 30,
2022
 (in millions)
Restricted cash and restricted cash equivalents$2,907 $2,342 
Pledged securities at market value408 213 
Letters of credit1,717 1,582 
Guarantees1,094 950 
Total$6,126 $5,087 
v3.23.2
Stockholders' Equity (Tables)
 9 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
Schedule of Stock by Class
As-converted class A common stock. The number of shares of each series and class, and the number of shares of class A common stock on an as-converted basis, were as follows:
June 30, 2023September 30, 2022
Shares
Outstanding		Conversion Rate Into 
Class A
Common Stock
As-converted Class A
Common
Stock(1)
Shares
Outstanding		Conversion Rate Into
Class A
Common Stock
As-converted Class A
Common
Stock(1)
(in millions, except conversion rate)
Series A preferred stock— 
(2)
100.0000 8 — 
(2)
100.0000 16 
Series B preferred stock2 2.9370 7 2 2.9710 7 
Series C preferred stock3 3.6290 11 3 3.6450 12 
Class A common stock1,607 — 1,607 1,635 — 1,635 
Class B common stock245 1.5902 
(3)
390 245 1.6059 
(3)
394 
Class C common stock10 4.0000 38 10 4.0000 39 
Total2,061 2,103 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.
(2)The number of shares outstanding was less than one million.
(3)The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.
Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock The following table presents the reduction in the number of as-converted class B common stock after deposits into the U.S. litigation escrow account under the U.S. retrospective responsibility plan:
Nine Months Ended
June 30,
20232022
(in millions, except per share data)
Reduction in equivalent number of class A common stock4 4 
Effective price per share(1)
$219.70 $205.06 
Deposits into the U.S. litigation escrow account$850 $850 
(1)Effective price per share for the period represents the weighted-average price calculated using the effective prices per share of the respective adjustments made during the period. Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificate of incorporation.
Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock
The following table presents the reduction in the number of as-converted series B and C preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments under the Europe retrospective responsibility plan:
Nine Months Ended
June 30, 2023		Nine Months Ended
June 30, 2022
Series BSeries CSeries BSeries C
(in millions, except per share data)
Reduction in equivalent number of class A common stock— 
(1)
— 
(1)
1 — 
(1)
Effective price per share(2)
$219.12 $215.28 $203.08 $202.55 
Recovery through conversion rate adjustment
$19 $11 $135 $6 
(1)The reduction in equivalent number of shares of class A common stock was less than one million shares.
(2)Effective price per share for the period represents the weighted-average price calculated using the effective prices per share of the respective adjustments made during the period. Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C preferred stock.
Share Repurchase Program Disclosure
Common stock repurchases. The following table presents share repurchases in the open market:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2023202220232022
(in millions, except per share data)
Shares repurchased in the open market(1)
13 12 39 46 
Average repurchase cost per share(2)
$229.00 $202.81 $214.44 $208.30 
Total cost(2)
$3,064 $2,433 $8,395 $9,486 
(1)Shares repurchased in the open market reflect repurchases that settled during the three and nine months ended June 30, 2023 and 2022, respectively. All shares repurchased in the open market have been retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase cost per share and total cost are calculated based on unrounded numbers and include applicable taxes.
v3.23.2
Earnings Per Share (Tables)
 9 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents earnings per share for the three months ended June 30, 2023:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$3,228 1,614 $2.00 $4,156 2,080 
(3)
$2.00 
Class B common stock785 245 $3.20 $784 245 $3.19 
Class C common stock77 10 $8.00 $76 10 $7.99 
Participating securities66 Not presentedNot presented$66 Not presentedNot presented
Net income$4,156 
The following table presents earnings per share for the nine months ended June 30, 2023:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$9,778 1,623 $6.03 $12,592 2,092 
(3)
$6.02 
Class B common stock2,369 245 $9.65 $2,366 245 $9.64 
Class C common stock233 10 $24.10 $233 10 $24.08 
Participating securities212 Not presentedNot presented$211 Not presentedNot presented
Net income$12,592 
The following table presents earnings per share for the three months ended June 30, 2022:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$2,634 1,642 $1.60 $3,411 2,129 
(3)
$1.60 
Class B common stock637 245 $2.59 $636 245 $2.59 
Class C common stock64 10 $6.42 $64 10 $6.41 
Participating securities76 Not presentedNot presented$76 Not presentedNot presented
Net income$3,411 
The following table presents earnings per share for the nine months ended June 30, 2022:
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)		 
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$8,518 1,655 $5.15 $11,017 2,143 
(3)
$5.14 
Class B common stock2,046 245 $8.33 $2,044 245 $8.33 
Class C common stock207 10 $20.58 $207 10 $20.56 
Participating securities246 Not presentedNot presented$246 Not presentedNot presented
Net income$11,017 
(1)The weighted-average number of shares of as-converted class B common stock used in the income allocation was 393 million for the three and nine months ended June 30, 2023, and 397 million and 398 million for the three and nine months ended June 30, 2022, respectively. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 38 million and 39 million for the three and nine months ended June 30, 2023, respectively, and 40 million for the three and nine months ended June 30, 2022. The weighted-average number of shares of preferred stock included within participating securities was 8 million and 10 million of as-converted series A preferred stock for the three and nine months ended June 30, 2023, respectively, and 6 million of as-converted series A preferred stock for the three and nine months ended June 30, 2022, 7 million of as-converted series B preferred stock for the three and nine months ended June 30, 2023 and 15 million and 16 million of as-converted series B preferred stock for the three and nine months ended June 30, 2022, respectively and 11 million of as-converted series C preferred stock for the three and nine months ended June 30, 2023 and 22 million of as-converted series C preferred stock for the three and nine months ended June 30, 2022.
(2)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.
(3)Weighted-average diluted shares outstanding are calculated on an as-converted basis and include incremental common stock equivalents, as calculated under the treasury stock method. The common stock equivalents are not material for the three and nine months ended June 30, 2023 and 2022.
v3.23.2
Share-based Compensation (Tables)
 9 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following table presents the equity awards granted to employees and non-employee directors under the amended and restated 2007 Equity Incentive Compensation Plan (EIP) during the nine months ended June 30, 2023:
GrantedWeighted-Average Grant Date Fair ValueWeighted-Average Exercise Price
Non-qualified stock options798,017 $58.56 $211.09 
Restricted stock units3,130,396 $210.81 
Performance-based shares(1)
551,818 $221.32 
(1)Represents the maximum number of performance-based shares which could be earned.
v3.23.2
Legal Matters (Tables)
 9 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Loss Contingencies by Contingency
The following table summarizes the activity related to accrued litigation:
 Nine Months Ended
June 30,
 20232022
 (in millions)
Balance at beginning of period$1,456 $983 
Provision for uncovered legal matters1 2 
Provision for covered legal matters808 878 
Payments for legal matters(720)(377)
Balance at end of period$1,545 $1,486 
The following table summarizes the accrual activity related to U.S. covered litigation:
 Nine Months Ended
June 30,
 20232022
 (in millions)
Balance at beginning of period$1,441 $881 
Provision for interchange multidistrict litigation797 861 
Payments for U.S. covered litigation(699)(262)
Balance at end of period$1,539 $1,480 
The following table summarizes the accrual activity related to VE territory covered litigation:
 Nine Months Ended
June 30,
 20232022
(in millions)
Balance at beginning of period$11 $102 
Provision for VE territory covered litigation11 17 
Payments for VE territory covered litigation(19)(114)
Balance at end of period$3 $5 
v3.23.2
Summary of Significant Accounting Policies (Details)
Jun. 30, 2023
country
Accounting Policies [Abstract]  
Number of countries in which Visa operates (more than) 200
v3.23.2
Acquisitions - Additional Information (Details)
$ in Billions
 1 Months Ended
Jun. 30, 2023
USD ($)
Pismo  
Business Acquisition [Line Items]  
Cash to be paid to acquire business $ 1.0
v3.23.2
Revenues - Schedule of Net Revenues (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Disaggregation of Revenue [Line Items]        
Net revenues $ 8,123 $ 7,275 $ 24,044 $ 21,523
U.S.        
Disaggregation of Revenue [Line Items]        
Net revenues 3,443 3,170 10,550 9,427
International        
Disaggregation of Revenue [Line Items]        
Net revenues 4,680 4,105 13,494 12,096
Service revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 3,668 3,189 10,950 9,903
Data processing revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 4,105 3,579 11,751 10,673
International transaction revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 2,920 2,560 8,466 6,942
Other revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 597 517 1,735 1,440
Client incentives        
Disaggregation of Revenue [Line Items]        
Net revenues $ (3,167) $ (2,570) $ (8,858) $ (7,435)
v3.23.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Jun. 30, 2022
Sep. 30, 2021
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash and cash equivalents $ 15,590 $ 15,689    
Cash, cash equivalents, restricted cash and restricted cash equivalents 21,039 20,377 $ 18,996 $ 19,799
U.S. litigation escrow        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents: 1,627 1,449    
Customer collateral        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents: 2,907 2,342    
Prepaid expenses and other current assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents: $ 915 $ 897    
v3.23.2
U.S. and Europe Retrospective Responsibility Plans - Changes in the U.S. Litigation Escrow Account (Detail) - USD ($)
$ in Millions
 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Escrow Account [Roll Forward]    
Balance at beginning of period $ 1,449 $ 894
Deposits into the U.S. litigation escrow account 850 850
Balance at end of period 1,627 1,483
Interest Income | Opt-out Merchants    
Escrow Account [Roll Forward]    
Payments to opt-out merchants, net of interest earned on escrow funds $ (672) $ (261)
v3.23.2
U.S. and Europe Retrospective Responsibility Plans - Additional Details (Details)
€ in Millions
 9 Months Ended
Jun. 30, 2023
EUR (€)
Retrospective Responsibility Plans [Abstract]  
VE covered loss, maximum amount of loss to allow adjustment of conversion rate during six-month period € 20
v3.23.2
U.S. and Europe Retrospective Responsibility Plans - Changes in Preferred Stock and Right to Recover Covered Losses (Details)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
USD ($)
$ / shares
shares
Jun. 30, 2022
USD ($)
shares
Jun. 30, 2023
USD ($)
$ / shares
shares
Jun. 30, 2022
USD ($)
shares
Mar. 31, 2023
shares
Sep. 30, 2022
USD ($)
$ / shares
shares
Mar. 31, 2022
shares
Sep. 30, 2021
shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Beginning balance $ 38,565 $ 35,989 $ 35,581 $ 37,589        
VE territory covered losses incurred (6) (15) (21) (31)        
Recovery through conversion rate adjustment 0 0 1 0        
Ending balance 38,981 35,483 38,981 35,483        
As-converted Value of Preferred Stock 4,451   4,451     $ 3,353    
Book Value of Preferred Stock 1,786   1,786     2,324    
Book Value of Preferred Stock, Total 1,242   1,242     1,272    
Less: right to recover for covered losses (25)   (25)     (35)    
As-converted Value of Preferred Stock, Total recovery for covered losses available 4,426   4,426     3,318    
Book Value of Preferred of Stock, Total recovery for covered losses available $ 1,217   $ 1,217     $ 1,237    
Share price (in dollars per share) | $ / shares $ 237.48   $ 237.48     $ 177.65    
Preferred Stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Beginning balance $ 1,885 2,987 $ 2,324 [1] 3,080        
Recovery through conversion rate adjustment (16) (112) (30) (141)        
Ending balance $ 1,786 [1] $ 2,851 $ 1,786 [1] $ 2,851        
Preferred stock, shares outstanding (in shares) | shares 5 5 5 5 5 5 5 5
Right to Recover for Covered Losses                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Beginning balance $ (35) $ (120) $ (35) $ (133)        
VE territory covered losses incurred (6) (15) (21) (31)        
Recovery through conversion rate adjustment 16 112 31 141        
Ending balance (25) (23) (25) (23)        
Series B preferred stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Recovery through conversion rate adjustment     19 135        
As-converted Value of Preferred Stock 1,730   1,730     $ 1,309    
Book Value of Preferred Stock $ 441   $ 441     $ 460    
Preferred stock, shares outstanding (in shares) | shares 2   2     2    
Preferred stock, conversion rate 2.9370   2.9370     2.971    
Series B preferred stock | Preferred Stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Beginning balance     $ 460 1,071        
VE territory covered losses incurred     0 0        
Recovery through conversion rate adjustment     (19) (135)        
Ending balance $ 441 936 441 936        
Series C preferred stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Recovery through conversion rate adjustment     11 6        
As-converted Value of Preferred Stock 2,721   2,721     $ 2,044    
Book Value of Preferred Stock $ 801   $ 801     $ 812    
Preferred stock, shares outstanding (in shares) | shares 3   3     3    
Preferred stock, conversion rate 3.6290   3.6290     3.6450    
Series C preferred stock | Preferred Stock                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Beginning balance     $ 812 1,523        
VE territory covered losses incurred     0 0        
Recovery through conversion rate adjustment     (11) (6)        
Ending balance $ 801 $ 1,517 $ 801 $ 1,517        
[1] As of June 30, 2023 and September 30, 2022, the book value of series A preferred stock was $544 million and $1.0 billion, respectively. Refer to Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock
v3.23.2
Fair Value Measurements and Investments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Assets    
Investment securities $ 5,116 $ 5,261
Level 1 | Recurring    
Assets    
Total 16,938 16,999
Liabilities    
Total 181 146
Level 1 | Recurring | Deferred compensation liability    
Liabilities    
Deferred compensation liability 181 146
Level 1 | Recurring | Derivative instruments    
Liabilities    
Derivative instruments 0 0
Level 1 | Money market funds | Recurring    
Assets    
Cash equivalents and restricted cash equivalents: 12,605 11,736
Other current and non-current assets: 23 22
Level 1 | U.S. Treasury securities | Recurring    
Assets    
Cash equivalents and restricted cash equivalents: 175 799
Investment securities 3,788 4,005
Level 1 | Marketable equity securities | Recurring    
Assets    
Marketable equity securities 347 437
Level 1 | U.S. government-sponsored debt securities | Recurring    
Assets    
Investment securities 0 0
Level 1 | Derivative instruments | Recurring    
Assets    
Other current and non-current assets: 0 0
Level 2 | Recurring    
Assets    
Total 1,350 1,588
Liabilities    
Total 482 418
Level 2 | Recurring | Deferred compensation liability    
Liabilities    
Deferred compensation liability 0 0
Level 2 | Recurring | Derivative instruments    
Liabilities    
Derivative instruments 482 418
Level 2 | Money market funds | Recurring    
Assets    
Cash equivalents and restricted cash equivalents: 0 0
Other current and non-current assets: 0 0
Level 2 | U.S. Treasury securities | Recurring    
Assets    
Cash equivalents and restricted cash equivalents: 0 0
Investment securities 0 0
Level 2 | Marketable equity securities | Recurring    
Assets    
Marketable equity securities 0 0
Level 2 | U.S. government-sponsored debt securities | Recurring    
Assets    
Investment securities 1,153 457
Level 2 | Derivative instruments | Recurring    
Assets    
Other current and non-current assets: $ 197 $ 1,131
v3.23.2
Fair Value Measurements and Investments - Amortized Cost, Unrealized Gains and Losses, and Fair Value of Available-for-Sale Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost $ 5,217 $ 5,395
Gross Unrealized Gains 0 0
Gross Unrealized Losses (101) (134)
Fair Value 5,116 5,261
U.S. government-sponsored debt securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 1,155 458
Gross Unrealized Gains 0 0
Gross Unrealized Losses (2) (1)
Fair Value 1,153 457
U.S. Treasury securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 4,062 4,937
Gross Unrealized Gains 0 0
Gross Unrealized Losses (99) (133)
Fair Value $ 3,963 $ 4,804
v3.23.2
Fair Value Measurements and Investments - Continuous Unrealized Losses for Less than 12 Months and More than 12 Months (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Debt Securities, Available-for-Sale [Line Items]    
Less Than 12 Months, Fair Value $ 2,108 $ 3,915
Less Than 12 Months, Gross Unrealized Losses (19) (134)
12 Months or Greater, Fair Value 2,165  
12 Months or Greater, Gross Unrealized Losses (82)  
U.S. government-sponsored debt securities    
Debt Securities, Available-for-Sale [Line Items]    
Less Than 12 Months, Fair Value 584 408
Less Than 12 Months, Gross Unrealized Losses (2) (1)
12 Months or Greater, Fair Value 0  
12 Months or Greater, Gross Unrealized Losses 0  
U.S. Treasury securities    
Debt Securities, Available-for-Sale [Line Items]    
Less Than 12 Months, Fair Value 1,524 3,507
Less Than 12 Months, Gross Unrealized Losses (17) $ (133)
12 Months or Greater, Fair Value 2,165  
12 Months or Greater, Gross Unrealized Losses $ (82)  
v3.23.2
Fair Value Measurements and Investments - Contractual Maturity of Debt Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Fair Value Disclosures [Abstract]    
Due within one year $ 2,994  
Due after 1 year through 5 years 2,122  
Total $ 5,116 $ 5,261
v3.23.2
Fair Value Measurements and Investments - Schedule of Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Fair Value Disclosures [Abstract]        
Initial cost basis $ 764   $ 764  
Upward adjustments 899   899  
Downward adjustments (including impairment) (431)   (431)  
Carrying amount, end of period 1,232   1,232  
Upward adjustments 75 $ 5 94 $ 231
Downward adjustments (including impairment) $ 0 $ 284 $ 86 $ 337
v3.23.2
Fair Value Measurements and Investments - Additional Information (Detail) - USD ($)
 3 Months Ended 9 Months Ended
Feb. 01, 2023
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Unrealized gains (losses) on equity securities held as of the end of the period   $ 96,000,000 $ (278,000,000) $ (85,000,000) $ (262,000,000)  
Impairment of indefinite-lived intangible assets and goodwill $ 0          
Senior Notes            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Carrying value of debt   20,600,000,000   20,600,000,000   $ 22,500,000,000
Estimated Fair Value | Senior Notes            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Estimated fair value of debt   $ 18,600,000,000   $ 18,600,000,000   $ 19,900,000,000
v3.23.2
Debt - Summary of Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Debt Instrument [Line Items]    
Unamortized discounts and debt issuance costs $ (164) $ (173)
Hedge accounting fair value adjustments (309) (322)
Total carrying value of debt 20,560 22,450
Current maturities of debt 0 2,250
Long-term debt 20,560 20,200
1.50% Senior Notes due June 2026 | Europe    
Debt Instrument [Line Items]    
Total debt $ 1,478 1,325
Effective interest rate (percent) 1.71%  
2.00% Senior Notes due June 2029 | Europe    
Debt Instrument [Line Items]    
Total debt $ 1,094 982
Effective interest rate (percent) 2.13%  
2.375% Senior Notes due June 2034 | Europe    
Debt Instrument [Line Items]    
Total debt $ 711 638
Effective interest rate (percent) 2.53%  
Senior Notes    
Debt Instrument [Line Items]    
Total debt $ 21,033 22,945
Senior Notes | 2.80% Senior Notes due December 2022 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 0 2,250
Effective interest rate (percent) 2.89%  
Stated interest rate (percent) 2.80%  
Senior Notes | 3.15% Senior Notes due December 2025 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 4,000 4,000
Effective interest rate (percent) 3.26%  
Stated interest rate (percent) 3.15%  
Senior Notes | 1.90% Senior Notes due April 2027 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 1,500 1,500
Effective interest rate (percent) 2.02%  
Stated interest rate (percent) 1.90%  
Senior Notes | 0.75% Senior Notes due August 2027 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 500 500
Effective interest rate (percent) 0.84%  
Stated interest rate (percent) 0.75%  
Senior Notes | 2.75% Senior Notes due September 2027 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 750 750
Effective interest rate (percent) 2.91%  
Stated interest rate (percent) 2.75%  
Senior Notes | 2.05% Senior Notes due April 2030 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 1,500 1,500
Effective interest rate (percent) 2.13%  
Stated interest rate (percent) 2.05%  
Senior Notes | 1.10% Senior Notes due February 2031 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 1,000 1,000
Effective interest rate (percent) 1.20%  
Stated interest rate (percent) 1.10%  
Senior Notes | 4.15% Senior Notes due December 2035 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 1,500 1,500
Effective interest rate (percent) 4.23%  
Stated interest rate (percent) 4.15%  
Senior Notes | 2.70% Senior Notes due April 2040 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 1,000 1,000
Effective interest rate (percent) 2.80%  
Stated interest rate (percent) 2.70%  
Senior Notes | 4.30% Senior Notes due December 2045 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 3,500 3,500
Effective interest rate (percent) 4.37%  
Stated interest rate (percent) 4.30%  
Senior Notes | 3.65% Senior Notes due September 2047 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 750 750
Effective interest rate (percent) 3.73%  
Stated interest rate (percent) 3.65%  
Senior Notes | 2.00% Senior Notes due August 2050 | U.S.    
Debt Instrument [Line Items]    
Total debt $ 1,750 $ 1,750
Effective interest rate (percent) 2.09%  
Stated interest rate (percent) 2.00%  
Senior Notes | 1.50% Senior Notes due June 2026 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 1.50%  
Senior Notes | 2.00% Senior Notes due June 2029 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.00%  
Senior Notes | 2.375% Senior Notes due June 2034 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.375%  
v3.23.2
Debt - Additional Information (Details)
€ in Billions
 1 Months Ended 9 Months Ended
May 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2023
EUR (€)
Jun. 30, 2022
USD ($)
Jun. 30, 2023
EUR (€)
Sep. 30, 2022
USD ($)
Debt Instrument [Line Items]            
Repayments senior notes   $ 2,250,000,000   $ 0    
Net Investment Hedging            
Debt Instrument [Line Items]            
Notional amount of non-derivative instruments | €     € 1.8      
Senior Notes | Europe            
Debt Instrument [Line Items]            
Debt instrument, face amount | €         € 3.0  
December 2022 Notes | Senior Notes            
Debt Instrument [Line Items]            
Repayments senior notes   2,250,000,000        
Amended and Restated Credit Agreement | Line of Credit | Revolving Credit Facility            
Debt Instrument [Line Items]            
Debt instrument term (in years) 5 years          
Revolving credit facility amount $ 7,000,000,000          
Amounts outstanding under Credit Facility   $ 0       $ 0
v3.23.2
Settlement Guarantee Management - Additional Information (Details)
$ in Billions
 9 Months Ended
Jun. 30, 2023
USD ($)
Settlement Guarantee Management [Abstract]  
Maximum settlement exposure $ 125.6
Average daily settlement exposure $ 76.3
v3.23.2
Settlement Guarantee Management - Collateral (Detail) - USD ($)
$ in Millions
Jun. 30, 2023
Sep. 30, 2022
Settlement Guarantee Management [Abstract]    
Restricted cash and restricted cash equivalents $ 2,907 $ 2,342
Pledged securities at market value 408 213
Letters of credit 1,717 1,582
Guarantees 1,094 950
Total $ 6,126 $ 5,087
v3.23.2
Stockholders' Equity - Number of Shares of Class A Common Shares Outstanding on an As-Converted Basis (Details)
shares in Millions
Jun. 30, 2023
shares
Sep. 30, 2022
shares
Schedule of Common Stock as Converted [Line Items]    
As-converted Class A Common Stock (in shares) 2,061 2,103
Series A preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 0 0
Preferred stock, conversion rate into Class A Common Stock 100.0000 100.0000
As-converted Class A Common Stock (in shares) 8 16
Series B preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 2 2
Preferred stock, conversion rate into Class A Common Stock 2.9370 2.971
As-converted Class A Common Stock (in shares) 7 7
Series C preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 3 3
Preferred stock, conversion rate into Class A Common Stock 3.6290 3.6450
As-converted Class A Common Stock (in shares) 11 12
Class A common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 1,607 1,635
As-converted Class A Common Stock (in shares) 1,607 1,635
Class B common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 245 245
Common stock, conversion rate into Class A Common Stock 1.5902 1.6059
As-converted Class A Common Stock (in shares) 390 394
Class C common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 10 10
Common stock, conversion rate into Class A Common Stock 4.0000 4.0000
As-converted Class A Common Stock (in shares) 38 39
v3.23.2
Stockholders' Equity - Schedule of As-Converted Class B Common Stock (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Stockholders' Equity Note [Abstract]    
Reduction in equivalent number of as-converted shares of class A common stock (in shares) 4 4
Effective price per share (in dollars per share) $ 219.70 $ 205.06
Deposits into the U.S. litigation escrow account $ 850 $ 850
v3.23.2
Stockholders' Equity - Effect of VE Territory Covered Losses Through Conversion Rate Adjustments (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Conversion of Stock [Line Items]        
Recovery through conversion rate adjustment $ 0 $ 0 $ 1 $ 0
Series B preferred stock        
Conversion of Stock [Line Items]        
Reduction in equivalent number of class A common stock (in shares)     0 1
Effective price per share (in dollars per share)     $ 219.12 $ 203.08
Recovery through conversion rate adjustment     $ 19 $ 135
Series C preferred stock        
Conversion of Stock [Line Items]        
Reduction in equivalent number of class A common stock (in shares)     0 0
Effective price per share (in dollars per share)     $ 215.28 $ 202.55
Recovery through conversion rate adjustment     $ 11 $ 6
v3.23.2
Stockholders' Equity - Share Repurchases in the Open Market (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Equity, Class of Treasury Stock [Line Items]        
Total cost $ 3,064 $ 2,433 $ 8,395 $ 9,486
Class A common stock        
Equity, Class of Treasury Stock [Line Items]        
Shares repurchased in the open market (in shares) 13 12 39 46
Average repurchase cost per share (in dollars per share) $ 229.00 $ 202.81 $ 214.44 $ 208.30
Total cost $ 3,064 $ 2,433 $ 8,395 $ 9,486
v3.23.2
Stockholders' Equity - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Jul. 25, 2023
Oct. 31, 2022
Equity, Class of Treasury Stock [Line Items]            
Share repurchase program           $ 12,000
Share repurchase programs authorized $ 8,800   $ 8,800      
Dividends paid $ 937 $ 798 $ 2,800 $ 2,400    
Subsequent Event            
Equity, Class of Treasury Stock [Line Items]            
Quarterly cash dividend (in dollars per share)         $ 0.45  
v3.23.2
Earnings Per Share - Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 4,156 $ 3,411 $ 12,592 $ 11,017
Class A common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 3,228 $ 2,634 $ 9,778 $ 8,518
Weighted- Average Shares Outstanding - Basic (in shares) 1,614 1,642 1,623 1,655
Earnings per Share - Basic (in dollars per share) $ 2.00 $ 1.60 $ 6.03 $ 5.15
Income Allocation - Diluted $ 4,156 $ 3,411 $ 12,592 $ 11,017
Weighted- Average Shares Outstanding - Diluted (in shares) 2,080 2,129 2,092 2,143
Earnings per Share - Diluted (in dollars per share) $ 2.00 $ 1.60 $ 6.02 $ 5.14
Class B common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 785 $ 637 $ 2,369 $ 2,046
Weighted- Average Shares Outstanding - Basic (in shares) 245 245 245 245
Earnings per Share - Basic (in dollars per share) $ 3.20 $ 2.59 $ 9.65 $ 8.33
Income Allocation - Diluted $ 784 $ 636 $ 2,366 $ 2,044
Weighted- Average Shares Outstanding - Diluted (in shares) 245 245 245 245
Earnings per Share - Diluted (in dollars per share) $ 3.19 $ 2.59 $ 9.64 $ 8.33
Weighted-average as-converted common stock used in income allocation (in shares) 393 397 393 398
Class C common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 77 $ 64 $ 233 $ 207
Weighted- Average Shares Outstanding - Basic (in shares) 10 10 10 10
Earnings per Share - Basic (in dollars per share) $ 8.00 $ 6.42 $ 24.10 $ 20.58
Income Allocation - Diluted $ 76 $ 64 $ 233 $ 207
Weighted- Average Shares Outstanding - Diluted (in shares) 10 10 10 10
Earnings per Share - Diluted (in dollars per share) $ 7.99 $ 6.41 $ 24.08 $ 20.56
Weighted-average as-converted common stock used in income allocation (in shares) 38 40 39 40
Participating securities        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 66 $ 76 $ 212 $ 246
Income Allocation - Diluted $ 66 $ 76 $ 211 $ 246
Series A preferred stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Weighted-average as-converted common stock used in income allocation (in shares) 8 6 10 6
Series B preferred stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Weighted-average as-converted common stock used in income allocation (in shares) 7 15 7 16
Series C preferred stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Weighted-average as-converted common stock used in income allocation (in shares) 11 22 11 22
v3.23.2
Share-based Compensation - Awards Granted to Company Employees and Non-employee Directors Under the 2007 Equity Incentive Compensation Plan (Details)
 9 Months Ended
Jun. 30, 2023
$ / shares
shares
Non-qualified stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 798,017
Weighted-Average Grant Date Fair Value (in dollars per share) $ 58.56
Weighted-Average Exercise Price (in dollars per share) $ 211.09
Restricted stock units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 3,130,396
Weighted-Average Grant Date Fair Value (in dollars per share) $ 210.81
Performance-based shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 551,818
Weighted-Average Grant Date Fair Value (in dollars per share) $ 221.32
v3.23.2
Share-based Compensation - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
2007 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense $ 184 $ 145 $ 568 $ 447
v3.23.2
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Tax Disclosure [Abstract]        
Effective income tax rate reconciliation, percent (in percent) 19.00% 11.00% 18.00% 17.00%
Recognized tax benefit   $ 176 $ 142  
Increase in unrecognized tax benefits, gross $ 615   593  
Increase in unrecognized tax benefits, net $ 315   $ 192  
v3.23.2
Legal Matters - Schedule of Accrued Litigation for Both Covered and Non-Covered Litigation (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2023
Jun. 30, 2023
Jun. 30, 2022
Loss Contingency Accrual [Roll Forward]      
Balance at beginning of period   $ 1,456 $ 983
Balance at end of period $ 1,545 1,545 1,486
Uncovered Litigation      
Loss Contingency Accrual [Roll Forward]      
Provision for legal matters   1 2
Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Provision for legal matters   808 878
Payments for legal matters   (720) (377)
U.S. Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Balance at beginning of period   1,441 881
Provision for legal matters 456 797 861
Payments for legal matters   (699) (262)
Balance at end of period 1,539 1,539 1,480
VE Territory Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Balance at beginning of period   11 102
Provision for legal matters   11 17
Payments for legal matters   (19) (114)
Balance at end of period $ 3 $ 3 $ 5
v3.23.2
Legal Matters - Additional Information (Details)
$ in Millions
 3 Months Ended 9 Months Ended 121 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jul. 25, 2023
merchant
Jun. 08, 2023
claim
Loss Contingencies [Line Items]          
Deposits into the U.S. litigation escrow account | $   $ 850 $ 850    
Number of class action claims | claim         2
U.S. Covered Litigation          
Loss Contingencies [Line Items]          
Provision for legal matters | $ $ 456 797 $ 861    
Deposits into the U.S. litigation escrow account | $ $ 500 $ 850      
Interchange Multidistrict Litigation          
Loss Contingencies [Line Items]          
Settlement percentage 70.00% 70.00%      
Europe Merchant Litigation | Subsequent Event          
Loss Contingencies [Line Items]          
Number of plaintiffs       1,100  
Number of claims settled       175  
Number of claims pending       900  
Europe Merchant Litigation | Threatened Litigation | Subsequent Event          
Loss Contingencies [Line Items]          
Number of plaintiffs       30