VISA INC., 10-Q filed on 1/29/2021
Quarterly Report
v3.20.4
Cover - shares
 3 Months Ended
Dec. 31, 2020
Jan. 22, 2021
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 31, 2020  
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, Postal Zip Code 94128-8999  
Entity Address, City or Town San Francisco,  
Entity Address, State or Province CA  
City Area Code 650  
Local Phone Number 432-3200  
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share  
Trading Symbol V  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001403161  
Current Fiscal Year End Date --09-30  
Document Fiscal Year Focus 2021  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Class A common stock    
Entity Common Stock, Shares Outstanding   1,696,113,603
Class B common stock    
Entity Common Stock, Shares Outstanding   245,513,385
Class C common stock    
Entity Common Stock, Shares Outstanding   10,685,736
v3.20.4
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Dec. 31, 2020
Sep. 30, 2020
Assets    
Cash and cash equivalents $ 15,032 $ 16,289
Restricted cash equivalents—U.S. litigation escrow 894 901
Investment securities 3,009 3,752
Settlement receivable 1,596 1,264
Accounts receivable 1,746 1,618
Customer collateral 1,993 1,850
Current portion of client incentives 1,281 1,214
Prepaid expenses and other current assets 729 757
Total current assets 26,280 27,645
Investment securities 161 231
Client incentives 3,192 3,175
Property, equipment and technology, net 2,713 2,737
Goodwill 16,121 15,910
Intangible assets, net 28,593 27,808
Other assets 3,366 3,413
Total assets 80,426 80,919
Liabilities    
Accounts payable 131 174
Settlement payable 2,048 1,736
Customer collateral 1,993 1,850
Accrued compensation and benefits 600 821
Client incentives 4,479 4,176
Accrued liabilities 2,230 1,840
Current maturities of debt 0 2,999
Accrued litigation 909 914
Total current liabilities 12,390 14,510
Long-term debt 21,055 21,071
Deferred tax liabilities 5,343 5,237
Other liabilities 3,959 3,891
Total liabilities 42,747 44,709
Equity    
Right to recover for covered losses (34) (39)
Additional paid-in capital 18,063 16,721
Accumulated income 14,813 14,088
Accumulated other comprehensive income (loss), net:    
Investment securities 2 3
Defined benefit pension and other postretirement plans (194) (196)
Derivative instruments (538) (291)
Foreign currency translation adjustments 1,884 838
Total accumulated other comprehensive income (loss), net 1,154 354
Total equity 37,679 36,210
Total liabilities and equity 80,426 80,919
Series A convertible participating preferred stock    
Equity    
Preferred stock 1,049 2,437
Series B convertible participating preferred stock    
Equity    
Preferred stock 1,097 1,106
Series C convertible participating preferred stock    
Equity    
Preferred stock 1,537 1,543
Class A common stock    
Equity    
Common stock 0 0
Class B common stock    
Equity    
Common stock 0 0
Class C common stock    
Equity    
Common stock $ 0 $ 0
v3.20.4
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares
shares in Millions
Dec. 31, 2020
Sep. 30, 2020
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 convertible participating preferred stock    
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Series B convertible participating preferred stock    
Preferred stock, shares issued (in shares) 2 2
Preferred stock, shares outstanding (in shares) 2 2
Series C convertible participating preferred stock    
Preferred stock, shares issued (in shares) 3 3
Preferred stock, shares outstanding (in shares) 3 3
Class A common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,001,622 2,001,622
Common stock, shares issued (in shares) 1,696 1,683
Common stock, shares outstanding (in shares) 1,696 1,683
Class B common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
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, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 1,097 1,097
Common stock, shares issued (in shares) 11 11
Common stock, shares outstanding (in shares) 11 11
v3.20.4
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Net revenues $ 5,687 $ 6,054
Operating Expenses    
Personnel 981 982
Marketing 205 274
Network and processing 173 181
Professional fees 83 106
Depreciation and amortization 197 182
General and administrative 203 313
Litigation provision 1 0
Total operating expenses 1,843 2,038
Operating income 3,844 4,016
Non-operating Income (Expense)    
Interest expense, net (136) (111)
Investment income and other 40 69
Total non-operating income (expense) (96) (42)
Income before income taxes 3,748 3,974
Income tax provision 622 702
Net income $ 3,126 $ 3,272
Class A common stock    
Earnings Per Share    
Basic Earnings Per Share (in dollars per share) $ 1.42 $ 1.46
Basic Weighted-average Shares Outstanding (in shares) 1,694 1,713
Diluted Earnings Per Share (in dollars per share) $ 1.42 $ 1.46
Diluted Weighted-average Shares Outstanding (in shares) 2,200 2,240
Class B common stock    
Earnings Per Share    
Basic Earnings Per Share (in dollars per share) $ 2.31 $ 2.37
Basic Weighted-average Shares Outstanding (in shares) 245 245
Diluted Earnings Per Share (in dollars per share) $ 2.31 $ 2.37
Diluted Weighted-average Shares Outstanding (in shares) 245 245
Class C common stock    
Earnings Per Share    
Basic Earnings Per Share (in dollars per share) $ 5.69 $ 5.85
Basic Weighted-average Shares Outstanding (in shares) 11 11
Diluted Earnings Per Share (in dollars per share) $ 5.68 $ 5.84
Diluted Weighted-average Shares Outstanding (in shares) 11 11
v3.20.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]    
Net income $ 3,126 $ 3,272
Investment securities:    
Net unrealized gain (loss) (1) 0
Defined benefit pension and other postretirement plans:    
Net unrealized actuarial gain (loss) and prior service credit (cost) (1) (1)
Income tax effect 1 0
Reclassification adjustments 3 4
Income tax effect (1) (1)
Derivative instruments:    
Net unrealized gain (loss) (297) (188)
Income tax effect 63 39
Reclassification adjustments (18) (2)
Income tax effect 5 1
Foreign currency translation adjustments 1,046 483
Other comprehensive income (loss), net of tax 800 335
Comprehensive income $ 3,926 $ 3,607
v3.20.4
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Series B convertible participating preferred stock
Series C convertible participating preferred stock
Class A common stock
Preferred Stock
Preferred Stock
Conversion Of Series A Preferred Stock Upon Sale Into Public Market
Preferred Stock
Series A convertible participating preferred stock
 [1]
Preferred Stock
Series A convertible participating preferred stock
Conversion Of Series A Preferred Stock Upon Sale Into Public Market
 [1]
Preferred Stock
Series B convertible participating preferred stock
Preferred Stock
Series C convertible participating preferred stock
Common Stock
Class A common stock
Common Stock
Class A common stock
Conversion Of Series A Preferred Stock Upon Sale Into Public Market
Common Stock
Class A common stock
Conversion Of Class C Common Stock Upon Sale Into Public Market
 [1]
Common Stock
Class B common stock
Common Stock
Class C common stock
Common Stock
Class C common stock
Conversion Of Class C Common Stock Upon Sale Into Public Market
 [1]
Right to Recover for Covered Losses
Additional Paid-In Capital
Additional Paid-In Capital
Conversion Of Series A Preferred Stock Upon Sale Into Public Market
Accumulated Income
Accumulated Income
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss), Net
Accumulated Other Comprehensive Income (Loss), Net
Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Adoption of new accounting standards $ 34,684         $ 5,462                       $ (171) $ 16,541   $ 13,502 $ 25 $ (650) $ (25)
Beginning balance (in shares) at Sep. 30, 2019                   2 3 1,718     245 11                
Beginning balance at Sep. 30, 2019 34,684         5,462                       (171) 16,541   13,502 25 (650) (25)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Net income 3,272                                       3,272      
Other comprehensive income (loss), net of tax 335                                           335  
Comprehensive income 3,607                                              
Adoption of new accounting standards 35,270         5,462                       (175) 16,424   13,899 25 (340) $ (25)
VE territory covered losses incurred (4)                                 (4)            
Conversion of stock (in shares)                       1       0 [1]                
Vesting of restricted stock and performance-based shares (in shares)                       3                        
Share-based compensation, net of forfeitures 116                                   116          
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 (147)                                   (147)          
Cash proceeds from issuance of common stock under employee equity plans (in shares)                       1                        
Cash proceeds from issuance of class A common stock under employee equity plans 55                                   55          
Cash dividends declared and paid, at a quarterly amount per Class A share (671)                                       (671)      
Repurchase of class A common stock (in shares)         (13)             (13)                        
Repurchase of class A common stock (2,370)       $ (2,370)                           (141)   (2,229)      
Ending balance (in shares) at Dec. 31, 2019                   2 3 1,709     245 11                
Ending balance at Dec. 31, 2019 35,270         5,462                       (175) 16,424   13,899   (340)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Adoption of new accounting standards 35,270         5,462                       (175) 16,424   13,899   (340)  
Adoption of new accounting standards 36,210 $ 3       5,086       $ 1,106 $ 1,543             (39) 16,721   14,088 3 354  
Beginning balance (in shares) at Sep. 30, 2020               0   2 3 1,683     245 11                
Beginning balance at Sep. 30, 2020 36,210 3       5,086       $ 1,106 $ 1,543             (39) 16,721   14,088 3 354  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Net income 3,126                                       3,126      
Other comprehensive income (loss), net of tax 800                                           800  
Comprehensive income 3,926                                              
Adoption of new accounting standards 36,210 $ 3       3,683       1,097 1,537             (39) 18,063   14,813 $ 3 1,154  
VE territory covered losses incurred (10)                 0 0             (10)            
Recovery through conversion rate adjustment     $ 9 $ 6   (15)       $ 9 $ 6             15            
Conversion of stock (in shares)                 0       20 0     0              
Conversion of stock             $ (1,388)                         $ 1,388        
Vesting of restricted stock and performance-based shares (in shares)                       3                        
Share-based compensation, net of forfeitures 122                                   122          
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 (134)                                   (134)          
Cash proceeds from issuance of common stock under employee equity plans (in shares) [1]                       0                        
Cash proceeds from issuance of class A common stock under employee equity plans 61                                   61          
Cash dividends declared and paid, at a quarterly amount per Class A share (703)                                       (703)      
Repurchase of class A common stock (in shares)         (9)             (9)                        
Repurchase of class A common stock (1,796)       $ (1,796)                           (95)   (1,701)      
Ending balance (in shares) at Dec. 31, 2020               0   2 3 1,696     245 11                
Ending balance at Dec. 31, 2020 37,679         3,683       $ 1,097 $ 1,537             (34) 18,063   14,813   1,154  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Adoption of new accounting standards $ 37,679         $ 3,683       $ 1,097 $ 1,537             $ (34) $ 18,063   $ 14,813   $ 1,154  
[1] Increase, decrease or balance is less than one million shares.
v3.20.4
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) (Parenthetical) - $ / shares
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]    
Cash dividends declared and paid, quarterly, per Class A share (in dollars per share) $ 0.32 $ 0.30
v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating Activities    
Net income $ 3,126 $ 3,272
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Client incentives 1,858 1,748
Share-based compensation 122 116
Depreciation and amortization of property, equipment, technology and intangible assets 197 182
Deferred income taxes 5 (47)
VE territory covered losses incurred (10) (4)
Other 25 (50)
Change in operating assets and liabilities:    
Settlement receivable (244) (183)
Accounts receivable (108) (107)
Client incentives (1,485) (1,943)
Other assets 235 123
Accounts payable (39) (12)
Settlement payable 194 218
Accrued and other liabilities (357) 136
Accrued litigation (6) 426
Net cash provided by (used in) operating activities 3,513 3,875
Investing Activities    
Purchases of property, equipment and technology (160) (191)
Investment securities:    
Purchases (1,315) (400)
Proceeds from maturities and sales 2,163 1,202
Acquisitions, net of cash acquired (75) (77)
Purchases of / contributions to other investments (18) (9)
Other investing activities 44 37
Net cash provided by (used in) investing activities 639 562
Financing Activities    
Repurchase of class A common stock (1,796) (2,370)
Repayments of debt (3,000) 0
Dividends paid (703) (671)
Cash proceeds from issuance of class A common stock under employee equity plans 61 55
Restricted stock and performance-based shares settled in cash for taxes (134) (147)
Net cash provided by (used in) financing activities (5,572) (3,133)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents 304 127
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (1,116) 1,431
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 19,171 10,832
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 18,055 12,263
Supplemental Disclosure    
Cash paid for income taxes, net 252 345
Interest payments on debt 281 234
Accruals related to purchases of property, equipment and technology $ 13 $ 66
v3.20.4
Summary of Significant Accounting Policies
 3 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Note 1—Summary of Significant Accounting Policies
Organization. Visa Inc. (“Visa” or the “Company”) is a global payments technology company that enables innovative, secure and reliable electronic payments across more than 200 countries and territories. Visa and its wholly-owned consolidated subsidiaries, including Visa U.S.A. Inc. (“Visa U.S.A.”), Visa International Service Association (“Visa International”), Visa Worldwide Pte. Limited, Visa Europe Limited (“Visa Europe”), Visa Canada Corporation (“Visa Canada”), Visa Technology & Operations LLC and CyberSource Corporation, operate one of the world’s largest electronic payments network — VisaNet — which facilitates authorization, clearing and settlement of payment transactions and enables the Company to provide its financial institution and seller clients a wide range of products, platforms and value added services. 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. All significant intercompany accounts and transactions are eliminated in consolidation.
The accompanying unaudited consolidated financial statements are presented in accordance with the 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 the Visa Annual Report on Form 10-K for the year ended September 30, 2020 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.
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 unaudited consolidated financial statements in the period in which such changes occur. Future actual results could differ materially from these estimates. The worldwide spread of coronavirus (“COVID-19”) has created significant uncertainty in the global economy. There have been no comparable recent events that provide guidance as to the effect COVID-19 as a global pandemic may have, and, as a result, the ultimate impact of COVID-19 and the extent to which COVID-19 continues to impact the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict.
Recently Adopted Accounting Pronouncements
In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Board Update (“ASU”) 2016-13, which requires the measurement and recognition of expected credit losses for financial assets and certain other instruments held at amortized cost. The Company adopted the standard effective October 1, 2020 using the modified retrospective transition method with comparative periods continuing to be reported using the previous applicable guidance. The adoption did not have a material impact on the consolidated financial statements.
In accordance with ASU 2016-13, the Company uses a forward-looking expected credit loss model for financial instruments measured at amortized cost. For available-for-sale debt securities, when credit loss indicators exist and a discounted cash flow approach results in a credit loss, the credit loss will be recorded through an allowance rather
than through an other-than-temporary impairment. In addition to recording the fair value of its settlement indemnification liability, under the new standard, the Company estimates expected credit losses and recognizes an allowance for those credit losses related to its settlement indemnification obligations.
In January 2017, the FASB issued ASU 2017-04, which simplifies the accounting for goodwill impairments by eliminating Step 2 from the goodwill impairment test. Under the amendments in ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of the reporting unit with its carrying amount, which is Step 1 of the goodwill impairment test. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The Company adopted the standard effective October 1, 2020. The adoption had no impact on the consolidated financial statements.
In August 2018, the FASB issued ASU 2018-13, which modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The Company adopted this standard effective October 1, 2020. The adoption did not have a material impact on the consolidated financial statements.
v3.20.4
Acquisitions
 3 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Acquisitions
Note 2—Acquisitions
Terminated Acquisition. On January 12, 2021, Visa and Plaid Inc. mutually terminated their merger agreement announced on January 13, 2020. See Note 13—Legal Matters.
v3.20.4
Revenues
 3 Months Ended
Dec. 31, 2020
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 for the three months ended December 31, 2020 and 2019:
Three Months Ended
December 31,
20202019
(in millions)
Service revenues$2,677 $2,555 
Data processing revenues3,033 2,864 
International transaction revenues1,451 2,018 
Other revenues384 365 
Client incentives(1,858)(1,748)
Net revenues $5,687 $6,054 

Three Months Ended
December 31,
20202019
(in millions)
U.S.$2,667 $2,717 
International3,020 3,337 
Net revenues$5,687 $6,054 
At December 31, 2020 and September 30, 2020, deferred revenue included in accrued liabilities on the consolidated balance sheets was $668 million and $533 million, respectively.
v3.20.4
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
 3 Months Ended
Dec. 31, 2020
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’s cash and cash equivalents include cash and certain highly liquid investments with original maturities of 90 days or less from the date of purchase. Cash equivalents are primarily recorded at cost, which approximates fair value due to their generally short maturities. The Company defines restricted cash and restricted cash equivalents as cash and cash equivalents that cannot be withdrawn or used for general operating activities.
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:
December 31,
2020		September 30,
2020
(in millions)
Cash and cash equivalents$15,032 $16,289 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow894 901 
Customer collateral1,993 1,850 
Prepaid expenses and other current assets 136 131 
Cash, cash equivalents, restricted cash and restricted cash equivalents
$18,055 $19,171 
v3.20.4
U.S. and Europe Retrospective Responsibility Plan
 3 Months Ended
Dec. 31, 2020
Retrospective Responsibility Plan [Abstract]  
U.S. and Europe Retrospective Responsibility Plan
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 escrow funds are held in money market investments along with interest income earned, less applicable taxes, and are classified as restricted cash equivalents on the consolidated balance sheets. 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 sets forth the changes in the restricted cash equivalents—U.S. litigation escrow account:
Three Months Ended
December 31,
20202019
 (in millions)
Balance at beginning of period$901 $1,205 
Return of takedown payment to the litigation escrow account— 467 
Payments to opt-out merchants(1) and interest earned on escrow funds
(7)(38)
Balance at end of period$894 $1,634 
(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 (the “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 (the “VE territory covered losses”) through a periodic adjustment to the class A common stock conversion rates applicable to the UK&I and Europe preferred stock. VE territory covered losses are recorded in “right to recover for covered losses” within 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. During the three months ended December 31, 2020, the Company recovered $15 million of VE territory covered losses through adjustments to the class A common stock conversion rates applicable to the UK&I and Europe preferred stock.
The following table sets forth the activities related to VE territory covered losses in preferred stock and “right to recover for covered losses” within stockholders’ equity during the three months ended December 31, 2020.
Preferred StockRight to Recover for Covered Losses
UK&IEurope
(in millions)
Balance as of September 30, 2020$1,106 $1,543 $(39)
VE territory covered losses incurred(1)
— — (10)
Recovery through conversion rate adjustment(9)(6)15 
Balance as of December 31, 2020$1,097 $1,537 $(34)
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 13—Legal Matters.
The following table sets forth the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred shares recorded in stockholders’ equity within the Company’s consolidated balance sheets as of December 31, 2020 and September 30, 2020:
December 31, 2020September 30, 2020
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)
UK&I preferred stock$3,455 $1,097 $3,168 $1,106 
Europe preferred stock4,732 1,537 4,331 1,543 
Total8,187 2,634 7,499 2,649 
Less: right to recover for covered losses(34)(34)(39)(39)
Total recovery for covered losses available$8,153 $2,600 $7,460 $2,610 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
(2)The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the UK&I and Europe preferred stock outstanding, respectively, as of December 31, 2020; (b) 6.368 and 6.853, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of December 31, 2020, respectively; and (c) $218.73, Visa’s class A common stock closing stock price as of December 31, 2020.
(3)The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the UK&I and Europe preferred stock outstanding, respectively, as of September 30, 2020; (b) 6.387 and 6.861, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of September 30, 2020, respectively; and (c) $199.97, Visa’s class A common stock closing stock price as of September 30, 2020.
v3.20.4
Fair Value Measurements and Investments
 3 Months Ended
Dec. 31, 2019
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
 December 31,
2020		September 30,
2020		December 31,
2020		September 30,
2020
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$10,512 $12,522 $— $— 
U.S. government-sponsored debt securities
— — 8501,469 
U.S. Treasury securities
2,050 650 — — 
Investment securities:
Marketable equity securities
184 148 — — 
U.S. government-sponsored debt securities
— — 1,684 2,582 
U.S. Treasury securities
1,302 1,253 — — 
Other current and non-current assets:
Money market funds
2 — — — 
Derivative instruments
— — 381 512 
Total $14,050 $14,573 $2,915 $4,563 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$169 $135 $— $— 
Accrued and other liabilities:
Derivative instruments
— — 355 181 
Total $169 $135 $355 $181 
Level 1 assets. Money market funds, marketable equity securities and U.S. Treasury 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 and liabilities. 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. As of December 31, 2020 and September 30, 2020, the Company held $3.0 billion and $3.8 billion of these investment securities, respectively. All of the Company’s long-term available-for-sale investment securities are due within one to five years.
Assets Measured at Fair Value on a Non-recurring Basis
Non-marketable equity securities. The Company’s non-marketable equity securities are investments in privately held companies without readily determinable market values. These investments are classified as Level 3 due to the absence of quoted market prices, the inherent lack of liquidity and the fact that inputs used to measure fair value are unobservable and require management’s judgment.
During the three months ended December 31, 2020 and 2019, upward adjustments of $14 million and $9 million, respectively, were included in the carrying value of non-marketable equity securities accounted for under the fair value measurement alternative. The three months ended December 31, 2020 also included downward adjustments of $2 million. During the three months ended December 31, 2020 and 2019, there was no impairment recognized. The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of December 31, 2020 including cumulative unrealized gains and losses:
December 31,
2020
(in millions)
Initial cost basis$849 
Adjustments:
Upward adjustments226 
Downward adjustments (including impairment)(13)
Carrying amount, end of period$1,062 
Non-financial assets and liabilities. Long-lived assets such as goodwill, indefinite-lived intangible assets, finite-lived intangible assets and property, equipment and technology are considered non-financial assets. The Company does not have any non-financial liabilities measured at fair value on a non-recurring basis. Finite-lived intangible assets primarily consist of customer relationships and trade names, all of which were obtained through acquisitions.
If the Company were required to perform a quantitative assessment for impairment testing of goodwill and indefinite-lived intangible assets, the fair values would generally be estimated using an income approach. As the assumptions employed to measure these assets on a non-recurring basis are based on management’s judgment using internal and external data, these fair value determinations are classified as Level 3 in the fair value hierarchy. The Company completed its annual impairment review of its indefinite-lived intangible assets and goodwill as of February 1, 2020, and concluded that there was no impairment. No recent events or changes in circumstances indicate that impairment existed at December 31, 2020.
Other Fair Value Disclosures
Debt. Debt instruments are measured at amortized cost on the Company’s unaudited 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 December 31, 2020, the carrying value and estimated fair value of debt was $21.1 billion and $23.8 billion, respectively. As of September 30, 2020, the carrying value and estimated fair value of debt was $24.1 billion and $26.6 billion, respectively.
Other financial instruments not measured at fair value. The following financial instruments are not measured at fair value on the Company’s unaudited consolidated balance sheet at December 31, 2020, but disclosure of their fair values is required: settlement receivable and payable and customer collateral. The estimated fair value of such instruments at December 31, 2020 approximates their carrying 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.
v3.20.4
Debt
 3 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Debt
Note 7—Debt
The Company had outstanding debt as follows:
December 31,
2020		September 30,
2020
Effective Interest Rate(1)
(in millions, except percentages)
2.20% Senior Notes due December 2020
$— $3,000 2.30 %
2.15% Senior Notes due September 2022
1,000 1,000 2.30 %
2.80% Senior Notes due December 2022
2,250 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 %
Total debt
21,000 24,000 
Unamortized discounts and debt issuance costs(173)(178)
Hedge accounting fair value adjustments(2)
228 248 
Total carrying value of debt
$21,055 $24,070 
Reported as:
Current maturities of debt$— $2,999 
Long-term debt21,055 21,071 
Total carrying value of debt
$21,055 $24,070 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the change in fair value of interest rate swap agreements entered into on a portion of outstanding senior notes.
Senior Notes
During the three months ended December 31, 2020, the Company repaid $3.0 billion of principal upon maturity of its senior notes due December 14, 2020.
v3.20.4
Settlement Guarantee Management
 3 Months Ended
Dec. 31, 2020
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 three months ended December 31, 2020, the Company’s maximum daily settlement exposure was $97.5 billion and the average daily settlement exposure was $61.2 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. At December 31, 2020 and September 30, 2020, the Company held the following collateral to manage settlement exposure:
December 31,
2020		September 30,
2020
 (in millions)
Restricted cash and restricted cash equivalents$1,993 $1,850 
Pledged securities at market value282 228 
Letters of credit1,377 1,306 
Guarantees714 717 
Total$4,366 $4,101 
v3.20.4
Stockholders' Equity
 3 Months Ended
Dec. 31, 2020
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:
December 31, 2020September 30, 2020
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 rates)
Series A preferred stock— 
(2)
100.0000 15 — 
(2)
100.0000 35 
UK&I preferred stock2 6.3680 16 2 6.3870 16 
Europe preferred stock3 6.8530 22 3 6.8610 22 
Class A common stock(3)
1,696 —1,696 1,683 — 1,683 
Class B common stock245 1.6228 
(4)
398 245 1.6228 
(4)
398 
Class C common stock11 4.0000 43 11 4.0000 43 
Total2,190 2,197 
(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)Class A common stock shares outstanding reflect repurchases that settled on or before December 31, 2020 and September 30, 2020.
(4)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. Under the terms of the Europe retrospective responsibility plan, the Company is entitled to recover VE territory covered losses through periodic adjustments to the class A common stock conversion rates applicable to the UK&I and Europe preferred stock. The recovery has the same economic effect on earnings per share as repurchasing the Company’s class A common stock, because it reduces the UK&I and Europe preferred stock conversion rates and consequently, reduces the as-converted class A common stock share count.
The following table presents the reduction in as-converted UK&I and Europe preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments in the three months ended December 31, 2020. There were no conversion rate adjustments in the three months ended December 31, 2019.
Three Months Ended
December 31, 2020
UK&IEurope
(in millions, except per share data)
Reduction in equivalent number of as-converted shares of class A common stock— 
(1)
— 
(1)
Effective price per share(2)
$209.89 $209.89 
Recovery through conversion rate adjustment
$9 $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 quarter 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 convertible participating preferred stock. Effective price per share is calculated using the weighted-average effective prices of the respective adjustments made during the year.
Common stock repurchases. The following table presents share repurchases in the open market for the following periods:
Three Months Ended
December 31,
20202019
(in millions, except per share data)
Shares repurchased in the open market(1)
9 13 
Average repurchase price per share(2)
$201.73 $179.27 
Total cost(2)
$1,796 $2,370 
(1)Shares repurchased in the open market reflect repurchases that settled during the three months ended December 31, 2020 and 2019. 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 price per share and total cost is calculated based on unrounded numbers.
In January 2020, the Company’s board of directors authorized a $9.5 billion share repurchase program (the “January 2020 Program”) and in January 2021, authorized an additional $8.0 billion share purchase program. These authorizations have no expiration date. As of December 31, 2020, the Company’s January 2020 Program had remaining authorized funds of $3.7 billion. All share repurchase programs authorized prior to January 2020 have been completed.
Dividends. On January 26, 2021, the Company’s board of directors declared a quarterly cash dividend of $0.32 per share of class A common stock (determined in the case of class B and C common stock and series A, UK&I and Europe preferred stock on an as-converted basis), which will be paid on March 1, 2021, to all holders of record as of February 12, 2021. During the three months ended December 31, 2020 and 2019, the Company declared and paid dividends of $703 million and $671 million, respectively.
v3.20.4
Earnings Per Share
 3 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share
Note 10—Earnings Per Share
Basic earnings per share is computed by dividing net income available to each class of shares by the weighted-average number of shares of common stock outstanding and participating securities during the period. Net income is allocated to each class of common stock and participating securities based on its proportional ownership on an as-converted basis. The weighted-average number of shares outstanding of each class of common stock reflects changes in ownership over the periods presented. See Note 9—Stockholders’ Equity.
Diluted earnings per share is computed by dividing net income available by the weighted-average number of shares of common stock outstanding, participating securities and, if dilutive, potential class A common stock equivalent shares outstanding during the period. Dilutive class A common stock equivalents may consist of: (1) shares of class A common stock issuable upon the conversion of series A, UK&I and Europe preferred stock and class B and C common stock based on the conversion rates in effect through the period, and (2) incremental shares of class A common stock calculated by applying the treasury stock method to the assumed exercise of employee stock options, the assumed purchase of stock under the Company’s Employee Stock Purchase Plan and the assumed vesting of unearned performance shares.
The following table presents earnings per share for the three months ended December 31, 2020:
 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$2,410 1,694 $1.42 $3,126 2,200 
(3)
$1.42 
Class B common stock567 245 $2.31 $566 245 $2.31 
Class C common stock61 11 $5.69 $61 11 $5.68 
Participating securities(4)
88 Not presentedNot presented$89 Not presentedNot presented
Net income$3,126 
The following table presents earnings per share for the three months ended December 31, 2019:
 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$2,506 1,713 $1.46 $3,272 2,240 
(3)
$1.46 
Class B common stock583 245 $2.37 $582 245 $2.37 
Class C common stock65 11 $5.85 $65 11 $5.84 
Participating securities(4)
118 Not presentedNot presented$117 Not presentedNot presented
Net income$3,272 
(1)Net income is allocated based on proportional ownership on an as-converted basis. The weighted-average number of shares of as-converted class B common stock used in the income allocation was 398 million for the three months ended December 31, 2020 and 2019. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 43 million and 44 million for the three months ended December 31, 2020 and 2019, respectively. The weighted-average number of shares of preferred stock included within participating securities was 21 million of as-converted series A preferred stock for the three months ended December 31, 2020, 16 million and 32 million of as-converted UK&I preferred stock for the three months ended December 31, 2020 and 2019, respectively, and 22 million and 44 million of as-converted Europe preferred stock for the three months ended December 31, 2020 and 2019, respectively.
(2)Figures in the table may not recalculate exactly due to rounding. Earnings per share is 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 computation includes common stock equivalents of 3 million for the three months ended December 31, 2020 and 2019, because their effect would have been dilutive. The computation excludes common stock equivalents of 1 million for the three months ended December 31, 2020 and 2019, because their effect would have been anti-dilutive.
(4)Participating securities include preferred stock outstanding and unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, such as the Company’s series A preferred stock, UK&I and Europe preferred stock and restricted stock units. Participating securities’ income is allocated based on the weighted-average number of shares of as-converted stock.
v3.20.4
Share-based Compensation
 3 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Compensation
Note 11—Share-based Compensation
The Company granted the following equity awards to employees and non-employee directors under the 2007 Equity Incentive Compensation Plan, or the EIP, during the three months ended December 31, 2020:
GrantedWeighted-Average
Grant Date Fair
Value		Weighted-Average
Exercise Price
Non-qualified stock options1,022,430 $39.51 $207.57 
Restricted stock units2,108,933 $207.52 
Performance-based shares(1)
432,714 $229.81 
(1)Represents the maximum number of performance-based shares which could be earned.
For the three months ended December 31, 2020 and 2019, the Company recorded share-based compensation cost related to the EIP of $116 million and $111 million, respectively, net of estimated forfeitures.

On January 26, 2021, the EIP was amended to extend the termination date from January 31, 2022 to January 26, 2031 and reduce the number of shares authorized for grant from 236 million to 198 million. Additionally, shares available for grant may be either unissued or previously issued shares subsequently acquired by the Company, except that shares withheld for taxes, or shares used to pay the exercise or purchase price of an award, shall not again be available for future grant.
v3.20.4
Income Taxes
 3 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes
Note 12—Income Taxes
For the three months ended December 31, 2020 and 2019, the effective income tax rates were 17% and 18%, respectively. The difference in the effective tax rates between the three-month periods was primarily due to an $81 million tax benefit recognized during the three months ended December 31, 2020 as a result of the conclusion of audits by taxing authorities.
During the three months ended December 31, 2020, the Company’s gross and net unrecognized tax benefits decreased by $6 million and $49 million, respectively. The decrease in unrecognized tax benefits is primarily due to the recognition of previously unrecognized tax benefits as a result of the conclusion of audits by taxing authorities, partially offset by increases in gross timing differences as well as various tax positions across several jurisdictions. During the three months ended December 31, 2020 and 2019, there were no significant changes in accrued interest and penalties related to uncertain tax positions.
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.
v3.20.4
Legal Matters
 3 Months Ended
Dec. 31, 2020
Legal Matters [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. Accordingly, except as disclosed, the Company has not established reserves or ranges of possible loss related to these proceedings, as at this time in the proceedings, the matters do not relate to a probable loss and/or the amount or range of losses are not reasonably estimable. 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 the Company’s 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:
 Three Months Ended
December 31,
 20202019
 (in millions)
Balance at beginning of period$914 $1,203 
Provision for uncovered legal matters1 — 
Provision for covered legal matters10 1 
Reestablishment of prior accrual related to interchange multidistrict litigation— 467 
Payments for legal matters(16)(42)
Balance at end of period$909 $1,629 
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:
 Three Months Ended
December 31,
 20202019
 (in millions)
Balance at beginning of period$888 $1,198 
Reestablishment of prior accrual related to interchange multidistrict litigation— 467 
Payments for U.S. covered litigation(7)(41)
Balance at end of period$881 $1,624 
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 UK&I preferred stock and Europe 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:
 Three Months Ended
December 31,
 20202019
(in millions)
Balance at beginning of period$21 $5 
Provision for VE territory covered litigation10 1 
Payments for VE territory covered litigation(9)(1)
Balance at end of period$22 $5 
U.S. Covered Litigation
Interchange Multidistrict Litigation (MDL) – Putative Class Actions

On December 18, 2020, the plaintiffs purporting to act on behalf of the putative Injunctive Relief Class moved for class certification.
Interchange Multidistrict Litigation (MDL) - Individual Merchant Actions
Visa has reached settlements with a number of merchants representing approximately 40% of the Visa-branded payment card sales volume of merchants who opted out of the Amended Settlement Agreement with the Damages Class plaintiffs.
VE Territory Covered Litigation
Europe Merchant Litigation
Since July 2013, in excess of 650 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) have commenced proceedings against Visa Europe, Visa Inc. and other Visa subsidiaries in the UK, Germany, Belgium and Poland 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 Europe, Visa Inc. and other Visa subsidiaries have settled the claims asserted by over 100 Merchants, leaving more than 500 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.

With regard to the claim asserted by one Merchant, trial before the UK Competition Appeal Tribunal to determine the lawful amount, if any, the plaintiff may be entitled to recover is set for June 2022. Other plaintiffs, whose claims were stayed pending the Supreme Court of the United Kingdom's judgment, are moving their claims forward, mostly before the UK Competition Appeal Tribunal.
Other Litigation
EMV Chip Liability Shift
On January 19, 2021, the U.S. Court of Appeals for the Second Circuit denied defendants’ request to appeal the district court’s decision granting plaintiffs’ motion for class certification.
Euronet Litigation
In the claim by Euronet 360 Finance Limited, Euronet Polska Spolka z.o.o. and Euronet Services spol. s.r.o., trial has been set for January 2023.
Plaid Inc. Acquisition
On January 12, 2021, the case filed by the U.S. Department of Justice against Visa and Plaid was dismissed.
German ATM Litigation
In December 2020 and January 2021, six savings banks and cooperative banks filed claims in Germany against Visa Europe Ltd. challenging Visa’s ATM rules prohibiting the charging of access fees on domestic cash withdrawals with a credit card as anti-competitive. No damages are currently sought. On December 24, 2020, 275 German savings banks initiated conciliation proceedings against Visa Europe Ltd., Visa Europe Services, LLC., and Visa Europe Services, Inc. asserting claims related to the same rules.
v3.20.4
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Dec. 31, 2020
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. All significant intercompany accounts and transactions are eliminated in consolidation.
The accompanying unaudited consolidated financial statements are presented in accordance with the 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 the Visa Annual Report on Form 10-K for the year ended September 30, 2020 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.
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 unaudited consolidated financial statements in the period in which such changes occur. Future actual results could differ materially from these estimates. The worldwide spread of coronavirus (“COVID-19”) has created significant uncertainty in the global economy. There have been no comparable recent events that provide guidance as to the effect COVID-19 as a global pandemic may have, and, as a result, the ultimate impact of COVID-19 and the extent to which COVID-19 continues to impact the Company’s business, results of operations and financial condition will depend on future developments, which are highly uncertain and difficult to predict.
Recently adopted accounting pronouncements
Recently Adopted Accounting Pronouncements
In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Board Update (“ASU”) 2016-13, which requires the measurement and recognition of expected credit losses for financial assets and certain other instruments held at amortized cost. The Company adopted the standard effective October 1, 2020 using the modified retrospective transition method with comparative periods continuing to be reported using the previous applicable guidance. The adoption did not have a material impact on the consolidated financial statements.
In accordance with ASU 2016-13, the Company uses a forward-looking expected credit loss model for financial instruments measured at amortized cost. For available-for-sale debt securities, when credit loss indicators exist and a discounted cash flow approach results in a credit loss, the credit loss will be recorded through an allowance rather
than through an other-than-temporary impairment. In addition to recording the fair value of its settlement indemnification liability, under the new standard, the Company estimates expected credit losses and recognizes an allowance for those credit losses related to its settlement indemnification obligations.
In January 2017, the FASB issued ASU 2017-04, which simplifies the accounting for goodwill impairments by eliminating Step 2 from the goodwill impairment test. Under the amendments in ASU 2017-04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of the reporting unit with its carrying amount, which is Step 1 of the goodwill impairment test. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The Company adopted the standard effective October 1, 2020. The adoption had no impact on the consolidated financial statements.
In August 2018, the FASB issued ASU 2018-13, which modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The Company adopted this standard effective October 1, 2020. The adoption did not have a material impact on the consolidated financial statements.
v3.20.4
Revenues (Tables)
 3 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue The following tables disaggregate the Company’s net revenues by revenue category and by geography for the three months ended December 31, 2020 and 2019:
Three Months Ended
December 31,
20202019
(in millions)
Service revenues$2,677 $2,555 
Data processing revenues3,033 2,864 
International transaction revenues1,451 2,018 
Other revenues384 365 
Client incentives(1,858)(1,748)
Net revenues $5,687 $6,054 

Three Months Ended
December 31,
20202019
(in millions)
U.S.$2,667 $2,717 
International3,020 3,337 
Net revenues$5,687 $6,054 
v3.20.4
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Tables)
 3 Months Ended
Dec. 31, 2020
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:
December 31,
2020		September 30,
2020
(in millions)
Cash and cash equivalents$15,032 $16,289 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow894 901 
Customer collateral1,993 1,850 
Prepaid expenses and other current assets 136 131 
Cash, cash equivalents, restricted cash and restricted cash equivalents
$18,055 $19,171 
v3.20.4
U.S. and Europe Retrospective Responsibility Plan (Tables)
 3 Months Ended
Dec. 31, 2020
Retrospective Responsibility Plan [Abstract]  
Changes in the U.S. litigation escrow account
The following table sets forth the changes in the restricted cash equivalents—U.S. litigation escrow account:
Three Months Ended
December 31,
20202019
 (in millions)
Balance at beginning of period$901 $1,205 
Return of takedown payment to the litigation escrow account— 467 
Payments to opt-out merchants(1) and interest earned on escrow funds
(7)(38)
Balance at end of period$894 $1,634 
(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 sets forth the activities related to VE territory covered losses in preferred stock and “right to recover for covered losses” within stockholders’ equity during the three months ended December 31, 2020.
Preferred StockRight to Recover for Covered Losses
UK&IEurope
(in millions)
Balance as of September 30, 2020$1,106 $1,543 $(39)
VE territory covered losses incurred(1)
— — (10)
Recovery through conversion rate adjustment(9)(6)15 
Balance as of December 31, 2020$1,097 $1,537 $(34)
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 13—Legal Matters.
Preferred Stock As-Converted Value and Book Value
The following table sets forth the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred shares recorded in stockholders’ equity within the Company’s consolidated balance sheets as of December 31, 2020 and September 30, 2020:
December 31, 2020September 30, 2020
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)
UK&I preferred stock$3,455 $1,097 $3,168 $1,106 
Europe preferred stock4,732 1,537 4,331 1,543 
Total8,187 2,634 7,499 2,649 
Less: right to recover for covered losses(34)(34)(39)(39)
Total recovery for covered losses available$8,153 $2,600 $7,460 $2,610 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted and book values are based on unrounded numbers.
(2)The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the UK&I and Europe preferred stock outstanding, respectively, as of December 31, 2020; (b) 6.368 and 6.853, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of December 31, 2020, respectively; and (c) $218.73, Visa’s class A common stock closing stock price as of December 31, 2020.
(3)The as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the UK&I and Europe preferred stock outstanding, respectively, as of September 30, 2020; (b) 6.387 and 6.861, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of September 30, 2020, respectively; and (c) $199.97, Visa’s class A common stock closing stock price as of September 30, 2020.
v3.20.4
Fair Value Measurements and Investments (Tables)
 3 Months Ended
Dec. 31, 2020
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
 December 31,
2020		September 30,
2020		December 31,
2020		September 30,
2020
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$10,512 $12,522 $— $— 
U.S. government-sponsored debt securities
— — 8501,469 
U.S. Treasury securities
2,050 650 — — 
Investment securities:
Marketable equity securities
184 148 — — 
U.S. government-sponsored debt securities
— — 1,684 2,582 
U.S. Treasury securities
1,302 1,253 — — 
Other current and non-current assets:
Money market funds
2 — — — 
Derivative instruments
— — 381 512 
Total $14,050 $14,573 $2,915 $4,563 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$169 $135 $— $— 
Accrued and other liabilities:
Derivative instruments
— — 355 181 
Total $169 $135 $355 $181 
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 December 31, 2020 including cumulative unrealized gains and losses:
December 31,
2020
(in millions)
Initial cost basis$849 
Adjustments:
Upward adjustments226 
Downward adjustments (including impairment)(13)
Carrying amount, end of period$1,062 
v3.20.4
Debt (Tables)
 3 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
The Company had outstanding debt as follows:
December 31,
2020		September 30,
2020
Effective Interest Rate(1)
(in millions, except percentages)
2.20% Senior Notes due December 2020
$— $3,000 2.30 %
2.15% Senior Notes due September 2022
1,000 1,000 2.30 %
2.80% Senior Notes due December 2022
2,250 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 %
Total debt
21,000 24,000 
Unamortized discounts and debt issuance costs(173)(178)
Hedge accounting fair value adjustments(2)
228 248 
Total carrying value of debt
$21,055 $24,070 
Reported as:
Current maturities of debt$— $2,999 
Long-term debt21,055 21,071 
Total carrying value of debt
$21,055 $24,070 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the change in fair value of interest rate swap agreements entered into on a portion of outstanding senior notes.
v3.20.4
Settlement Guarantee Management (Tables)
 3 Months Ended
Dec. 31, 2020
Settlement Guarantee Management [Abstract]  
Schedule of Customer Collateral
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. At December 31, 2020 and September 30, 2020, the Company held the following collateral to manage settlement exposure:
December 31,
2020		September 30,
2020
 (in millions)
Restricted cash and restricted cash equivalents$1,993 $1,850 
Pledged securities at market value282 228 
Letters of credit1,377 1,306 
Guarantees714 717 
Total$4,366 $4,101 
v3.20.4
Stockholders' Equity (Tables)
 3 Months Ended
Dec. 31, 2020
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:
December 31, 2020September 30, 2020
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 rates)
Series A preferred stock— 
(2)
100.0000 15 — 
(2)
100.0000 35 
UK&I preferred stock2 6.3680 16 2 6.3870 16 
Europe preferred stock3 6.8530 22 3 6.8610 22 
Class A common stock(3)
1,696 —1,696 1,683 — 1,683 
Class B common stock245 1.6228 
(4)
398 245 1.6228 
(4)
398 
Class C common stock11 4.0000 43 11 4.0000 43 
Total2,190 2,197 
(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)Class A common stock shares outstanding reflect repurchases that settled on or before December 31, 2020 and September 30, 2020.
(4)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 as-converted UK&I and Europe preferred stock after the Company recovered VE territory covered losses through conversion rate adjustments in the three months ended December 31, 2020. There were no conversion rate adjustments in the three months ended December 31, 2019.
Three Months Ended
December 31, 2020
UK&IEurope
(in millions, except per share data)
Reduction in equivalent number of as-converted shares of class A common stock— 
(1)
— 
(1)
Effective price per share(2)
$209.89 $209.89 
Recovery through conversion rate adjustment
$9 $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 quarter 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 convertible participating preferred stock. Effective price per share is calculated using the weighted-average effective prices of the respective adjustments made during the year.
Share Repurchase Program Disclosure
Common stock repurchases. The following table presents share repurchases in the open market for the following periods:
Three Months Ended
December 31,
20202019
(in millions, except per share data)
Shares repurchased in the open market(1)
9 13 
Average repurchase price per share(2)
$201.73 $179.27 
Total cost(2)
$1,796 $2,370 
(1)Shares repurchased in the open market reflect repurchases that settled during the three months ended December 31, 2020 and 2019. 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 price per share and total cost is calculated based on unrounded numbers.
v3.20.4
Earnings Per Share (Tables)
 3 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents earnings per share for the three months ended December 31, 2020:
 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$2,410 1,694 $1.42 $3,126 2,200 
(3)
$1.42 
Class B common stock567 245 $2.31 $566 245 $2.31 
Class C common stock61 11 $5.69 $61 11 $5.68 
Participating securities(4)
88 Not presentedNot presented$89 Not presentedNot presented
Net income$3,126 
The following table presents earnings per share for the three months ended December 31, 2019:
 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$2,506 1,713 $1.46 $3,272 2,240 
(3)
$1.46 
Class B common stock583 245 $2.37 $582 245 $2.37 
Class C common stock65 11 $5.85 $65 11 $5.84 
Participating securities(4)
118 Not presentedNot presented$117 Not presentedNot presented
Net income$3,272 
(1)Net income is allocated based on proportional ownership on an as-converted basis. The weighted-average number of shares of as-converted class B common stock used in the income allocation was 398 million for the three months ended December 31, 2020 and 2019. The weighted-average number of shares of as-converted class C common stock used in the income allocation was 43 million and 44 million for the three months ended December 31, 2020 and 2019, respectively. The weighted-average number of shares of preferred stock included within participating securities was 21 million of as-converted series A preferred stock for the three months ended December 31, 2020, 16 million and 32 million of as-converted UK&I preferred stock for the three months ended December 31, 2020 and 2019, respectively, and 22 million and 44 million of as-converted Europe preferred stock for the three months ended December 31, 2020 and 2019, respectively.
(2)Figures in the table may not recalculate exactly due to rounding. Earnings per share is 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 computation includes common stock equivalents of 3 million for the three months ended December 31, 2020 and 2019, because their effect would have been dilutive. The computation excludes common stock equivalents of 1 million for the three months ended December 31, 2020 and 2019, because their effect would have been anti-dilutive.
(4)Participating securities include preferred stock outstanding and unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, such as the Company’s series A preferred stock, UK&I and Europe preferred stock and restricted stock units. Participating securities’ income is allocated based on the weighted-average number of shares of as-converted stock.
v3.20.4
Share-based Compensation (Tables)
 3 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The Company granted the following equity awards to employees and non-employee directors under the 2007 Equity Incentive Compensation Plan, or the EIP, during the three months ended December 31, 2020:
GrantedWeighted-Average
Grant Date Fair
Value		Weighted-Average
Exercise Price
Non-qualified stock options1,022,430 $39.51 $207.57 
Restricted stock units2,108,933 $207.52 
Performance-based shares(1)
432,714 $229.81 
(1)Represents the maximum number of performance-based shares which could be earned.
v3.20.4
Legal Matters (Tables)
 3 Months Ended
Dec. 31, 2020
Legal Matters [Abstract]  
Schedule of Loss Contingencies by Contingency
The following table summarizes the activity related to accrued litigation:
 Three Months Ended
December 31,
 20202019
 (in millions)
Balance at beginning of period$914 $1,203 
Provision for uncovered legal matters1 — 
Provision for covered legal matters10 1 
Reestablishment of prior accrual related to interchange multidistrict litigation— 467 
Payments for legal matters(16)(42)
Balance at end of period$909 $1,629 
The following table summarizes the accrual activity related to U.S. covered litigation:
 Three Months Ended
December 31,
 20202019
 (in millions)
Balance at beginning of period$888 $1,198 
Reestablishment of prior accrual related to interchange multidistrict litigation— 467 
Payments for U.S. covered litigation(7)(41)
Balance at end of period$881 $1,624 
The following table summarizes the accrual activity related to VE territory covered litigation:
 Three Months Ended
December 31,
 20202019
(in millions)
Balance at beginning of period$21 $5 
Provision for VE territory covered litigation10 1 
Payments for VE territory covered litigation(9)(1)
Balance at end of period$22 $5 
v3.20.4
Summary of Significant Accounting Policies (Details)
Dec. 31, 2020
country
Accounting Policies [Abstract]  
Number of countries in which Visa operates (more than) 200
v3.20.4
Revenues - Schedule of Net Revenues (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]    
Net revenues $ 5,687 $ 6,054
U.S.    
Disaggregation of Revenue [Line Items]    
Net revenues 2,667 2,717
International    
Disaggregation of Revenue [Line Items]    
Net revenues 3,020 3,337
Service revenues    
Disaggregation of Revenue [Line Items]    
Net revenues 2,677 2,555
Data processing revenues    
Disaggregation of Revenue [Line Items]    
Net revenues 3,033 2,864
International transaction revenues    
Disaggregation of Revenue [Line Items]    
Net revenues 1,451 2,018
Other revenues    
Disaggregation of Revenue [Line Items]    
Net revenues 384 365
Client incentives    
Disaggregation of Revenue [Line Items]    
Net revenues $ (1,858) $ (1,748)
v3.20.4
Revenues - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]    
Deferred revenue $ 668 $ 533
v3.20.4
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Sep. 30, 2020
Dec. 31, 2019
Sep. 30, 2019
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash and cash equivalents $ 15,032 $ 16,289    
Cash, cash equivalents, restricted cash and restricted cash equivalents 18,055 19,171 $ 12,263 $ 10,832
U.S. litigation escrow        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents 894 901    
Customer collateral        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents 1,993 1,850    
Prepaid expenses and other current assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents $ 136 $ 131    
v3.20.4
U.S. and Europe Retrospective Responsibility Plan - Changes in the U.S. Litigation Escrow Account (Detail) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Escrow Account [Roll Forward]    
Balance at beginning of period $ 901 $ 1,205
Return of takedown payment to the litigation escrow account 0 467
Balance at end of period 894 1,634
Interest Income | Opt-out Merchants    
Escrow Account [Roll Forward]    
Payments to opt-out merchants and interest earned on escrow funds $ (7) $ (38)
v3.20.4
U.S. and Europe Retrospective Responsibility Plan - Additional Details (Details)
€ in Millions
 3 Months Ended
Dec. 31, 2020
EUR (€)
Retrospective Responsibility Plan [Abstract]  
VE covered loss, maximum amount of loss to allow adjustment of conversion rate during six-month period € 20
v3.20.4
U.S. and Europe Retrospective Responsibility Plan - Changes in Preferred Stock and Right to Recover Covered Losses (Details)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Dec. 31, 2020
USD ($)
$ / shares
shares
Dec. 31, 2019
USD ($)
Sep. 30, 2020
USD ($)
$ / shares
shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance $ 36,210 $ 34,684  
VE territory covered losses incurred (10) (4)  
Ending balance 37,679 35,270  
As-converted Value of Preferred Stock 8,187   $ 7,499
Book Value of Preferred Stock, Total 2,634   2,649
Less: right to recover for covered losses (34)   (39)
Preferred Stock, As-Converted Value, Total recovery for covered losses available 8,153   7,460
Book Value of Preferred of Stock, Total recovery for covered losses available $ 2,600   $ 2,610
Share price (in dollars per share) | $ / shares $ 218.73   $ 199.97
Preferred Stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance $ 5,086 5,462  
Recovery through conversion rate adjustment 15    
Ending balance 3,683 5,462  
Right to Recover for Covered Losses      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (39) (171)  
VE territory covered losses incurred (10) (4)  
Recovery through conversion rate adjustment (15)    
Ending balance (34) $ (175)  
UK&I preferred stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Recovery through conversion rate adjustment (9)    
As-converted Value of Preferred Stock 3,455   $ 3,168
Book Value of Preferred Stock $ 1,097   $ 1,106
Preferred stock, shares outstanding (in shares) | shares 2   2
Preferred stock, conversion rate 6.368   6.387
UK&I preferred stock | Preferred Stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance $ 1,106    
VE territory covered losses incurred 0    
Recovery through conversion rate adjustment (9)    
Ending balance 1,097    
Europe preferred stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Recovery through conversion rate adjustment (6)    
As-converted Value of Preferred Stock 4,732   $ 4,331
Book Value of Preferred Stock $ 1,537   $ 1,543
Preferred stock, shares outstanding (in shares) | shares 3   3
Preferred stock, conversion rate 6.853   6.861
Europe preferred stock | Preferred Stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance $ 1,543    
VE territory covered losses incurred 0    
Recovery through conversion rate adjustment (6)    
Ending balance $ 1,537    
v3.20.4
Fair Value Measurements and Investments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Sep. 30, 2020
Assets    
Investment securities $ 3,000 $ 3,800
Level 1 | Recurring    
Assets    
Total 14,050 14,573
Liabilities    
Deferred compensation liability 169 135
Derivative instruments 0 0
Total 169 135
Level 1 | Money market funds | Recurring    
Assets    
Cash equivalents and restricted cash equivalents 10,512 12,522
Other current and non-current assets 2 0
Level 1 | U.S. government-sponsored debt securities | Recurring    
Assets    
Cash equivalents and restricted cash equivalents 0 0
Investment securities 0 0
Level 1 | U.S. Treasury securities | Recurring    
Assets    
Cash equivalents and restricted cash equivalents 2,050 650
Investment securities 1,302 1,253
Level 1 | Marketable equity securities | Recurring    
Assets    
Investment securities 184 148
Level 1 | Derivative instruments | Recurring    
Assets    
Other current and non-current assets 0 0
Level 2 | Recurring    
Assets    
Total 2,915 4,563
Liabilities    
Deferred compensation liability 0 0
Derivative instruments 355 181
Total 355 181
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. government-sponsored debt securities | Recurring    
Assets    
Cash equivalents and restricted cash equivalents 850 1,469
Investment securities 1,684 2,582
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    
Investment securities 0 0
Level 2 | Derivative instruments | Recurring    
Assets    
Other current and non-current assets $ 381 $ 512
v3.20.4
Fair Value Measurements and Investments - Additional Information (Detail) - USD ($)
 3 Months Ended
Feb. 01, 2020
Dec. 31, 2020
Dec. 31, 2019
Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
U.S. securities   $ 3,000,000,000.0   $ 3,800,000,000
Upward adjustments   14,000,000 $ 9,000,000  
Downward adjustments   (2,000,000)    
Impairment of indefinite-lived intangible assets and goodwill $ 0      
Impairment charges of non-marketable equity securities   0 $ 0  
Carrying value of long-term debt   $ 21,055,000,000   24,070,000,000
Minimum        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Available-for-sale investment securities, stated maturities   1 year    
Maximum        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Available-for-sale investment securities, stated maturities   5 years    
Senior Notes        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Carrying value of long-term debt   $ 21,100,000,000   24,100,000,000
Estimated Fair Value | Senior Notes        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Estimated fair value of long-term debt   $ 23,800,000,000   $ 26,600,000,000
v3.20.4
Fair Value Measurements and Investments - Schedule of Non-Marketable Equity Securities (Details)
$ in Millions
Dec. 31, 2020
USD ($)
Fair Value Disclosures [Abstract]  
Initial cost basis $ 849
Upward adjustments 226
Downward adjustments (including impairment) (13)
Carrying amount, end of period $ 1,062
v3.20.4
Debt - Summary of Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Sep. 30, 2020
Debt Instrument [Line Items]    
Unamortized discounts and debt issuance costs $ (173) $ (178)
Hedge accounting fair value adjustments 228 248
Total carrying value of debt 21,055 24,070
Current maturities of debt 0 2,999
Long-term debt 21,055 21,071
Senior Notes    
Debt Instrument [Line Items]    
Total debt 21,000 24,000
Total carrying value of debt 21,100 24,100
Senior Notes | 2.20% Senior Notes due December 2020    
Debt Instrument [Line Items]    
Total debt $ 0 3,000
Effective interest rate (percent) 2.30%  
Stated interest rate (percent) 2.20%  
Senior Notes | 2.15% Senior Notes due September 2022    
Debt Instrument [Line Items]    
Total debt $ 1,000 1,000
Effective interest rate (percent) 2.30%  
Stated interest rate (percent) 2.15%  
Senior Notes | 2.80% Senior Notes due December 2022    
Debt Instrument [Line Items]    
Total debt $ 2,250 2,250
Effective interest rate (percent) 2.89%  
Stated interest rate (percent) 2.80%  
Senior Notes | 3.15% Senior Notes due December 2025    
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    
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    
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    
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    
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    
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    
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    
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    
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    
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    
Debt Instrument [Line Items]    
Total debt $ 1,750 $ 1,750
Effective interest rate (percent) 2.09%  
Stated interest rate (percent) 2.00%  
v3.20.4
Debt - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Debt Instrument [Line Items]    
Repayments senior notes $ 3,000 $ 0
Senior Notes | December 14, 2020 Senior Note    
Debt Instrument [Line Items]    
Repayments senior notes $ 3,000  
v3.20.4
Settlement Guarantee Management - Additional Information (Details)
$ in Billions
 3 Months Ended
Dec. 31, 2020
USD ($)
Settlement Guarantee Management [Abstract]  
Maximum Settlement Exposure $ 97.5
Average Daily Settlement Exposure $ 61.2
v3.20.4
Settlement Guarantee Management - Collateral (Detail) - USD ($)
$ in Millions
Dec. 31, 2020
Sep. 30, 2020
Settlement Guarantee Management [Abstract]    
Restricted cash and restricted cash equivalents $ 1,993 $ 1,850
Pledged securities at market value 282 228
Letters of credit 1,377 1,306
Guarantees 714 717
Total $ 4,366 $ 4,101
v3.20.4
Stockholders' Equity - Number of Shares of Class A Common Shares Outstanding on an As-Converted Basis (Detail)
shares in Millions
Dec. 31, 2020
shares
Sep. 30, 2020
shares
Schedule of Common Stock as Converted [Line Items]    
As-converted Class A Common Stock (in shares) 2,190 2,197
UK&I 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 6.368 6.387
As-converted Class A Common Stock (in shares) 16 16
Europe 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 6.853 6.861
As-converted Class A Common Stock (in shares) 22 22
Class A common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 1,696 1,683
As-converted Class A Common Stock (in shares) 1,696 1,683
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 1.6228 1.6228
As-converted Class A Common Stock (in shares) 398 398
Class C common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 11 11
Common stock, conversion rate into Class A Common Stock 4.0000 4.0000
As-converted Class A Common Stock (in shares) 43 43
Series A convertible participating 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) 15 35
v3.20.4
Stockholders' Equity - Effect of VE Territory Covered Losses Through Coversion Rate Adjustments (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
Dec. 31, 2020
USD ($)
$ / shares
shares
UK&I preferred stock  
Conversion of Stock [Line Items]  
Reduction in equivalent number of as-converted shares of class A common stock (in shares) | shares 0
Effective price per share (in dollars per share) | $ / shares $ 209.89
Recovery through conversion rate adjustment | $ $ 9
Europe preferred stock  
Conversion of Stock [Line Items]  
Reduction in equivalent number of as-converted shares of class A common stock (in shares) | shares 0
Effective price per share (in dollars per share) | $ / shares $ 209.89
Recovery through conversion rate adjustment | $ $ 6
v3.20.4
Stockholders' Equity - Share Repurchases in the Open Market (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Equity, Class of Treasury Stock [Line Items]    
Total cost $ 1,796 $ 2,370
Class A common stock    
Equity, Class of Treasury Stock [Line Items]    
Shares repurchased in the open market (in shares) 9 13
Average repurchase price per share (in dollars per share) $ 201.73 $ 179.27
Total cost $ 1,796 $ 2,370
v3.20.4
Stockholders' Equity - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Jan. 31, 2021
Jan. 26, 2021
Jan. 31, 2020
Stockholders Equity Note [Line Items]          
Share repurchase program         $ 9,500
January 2020 share repurchase program remaining authorized funds $ 3,700        
Cash dividends declared and paid, at a quarterly amount per Class A share $ 703 $ 671      
Subsequent Event          
Stockholders Equity Note [Line Items]          
Share repurchase program     $ 8,000    
Subsequent Event | Class A common stock          
Stockholders Equity Note [Line Items]          
Quarterly cash dividend (in dollars per share)       $ 0.32  
v3.20.4
Earnings Per Share - Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]    
Net income $ 3,126 $ 3,272
Class A common stock    
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]    
Income Allocation - Basic $ 2,410 $ 2,506
Weighted- Average Shares Outstanding - Basic (in shares) 1,694 1,713
Earnings per Share - Basic (in dollars per share) $ 1.42 $ 1.46
Income Allocation - Diluted $ 3,126 $ 3,272
Weighted- Average Shares Outstanding - Diluted (in shares) 2,200 2,240
Earnings per Share - Diluted (in dollars per share) $ 1.42 $ 1.46
Class B common stock    
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]    
Income Allocation - Basic $ 567 $ 583
Weighted- Average Shares Outstanding - Basic (in shares) 245 245
Earnings per Share - Basic (in dollars per share) $ 2.31 $ 2.37
Income Allocation - Diluted $ 566 $ 582
Weighted- Average Shares Outstanding - Diluted (in shares) 245 245
Earnings per Share - Diluted (in dollars per share) $ 2.31 $ 2.37
Class C common stock    
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]    
Income Allocation - Basic $ 61 $ 65
Weighted- Average Shares Outstanding - Basic (in shares) 11 11
Earnings per Share - Basic (in dollars per share) $ 5.69 $ 5.85
Income Allocation - Diluted $ 61 $ 65
Weighted- Average Shares Outstanding - Diluted (in shares) 11 11
Earnings per Share - Diluted (in dollars per share) $ 5.68 $ 5.84
Participating securities    
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]    
Income Allocation - Basic $ 88 $ 118
Income Allocation - Diluted $ 89 $ 117
v3.20.4
Earnings Per Share - Additional Information (Detail) - shares
shares in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]    
Common stock equivalents included in the computation of diluted shares outstanding (in shares) 3 3
Antidilutive securities excluded from computation of earnings per share (in shares) 1 1
Class B common 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) 398 398
Class C common 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) 43 44
Series A convertible participating 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) 21  
UK&I 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) 16 32
Europe 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) 22 44
v3.20.4
Share-based Compensation - Awards Granted to Company Employees and Non-employee Directors Under the 2007 Equity Incentive Compensation Plan (Detail)
 3 Months Ended
Dec. 31, 2020
$ / shares
shares
Non-qualified stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 1,022,430
Weighted-Average Grant Date Fair Value (in dollars per share) $ 39.51
Weighted-Average Exercise Price (in USD per share) $ 207.57
Restricted stock units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 2,108,933
Weighted-Average Grant Date Fair Value (in dollars per share) $ 207.52
Performance-bases shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 432,714
Weighted-Average Grant Date Fair Value (in dollars per share) $ 229.81
v3.20.4
Share-based Compensation - Additional Information (Details) - 2007 Plan - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Jan. 27, 2021
Jan. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation cost $ 116 $ 111    
Subsequent Event        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares authorized under EIP (in shares)     198,000,000 236,000,000
v3.20.4
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]    
Effective income tax rate reconciliation, percent 17.00% 18.00%
Recognized tax benefit $ 81  
Decrease in unrecognized tax benefits, gross 6  
Decrease in unrecognized tax benefits, net $ 49  
v3.20.4
Legal Matters - Schedule of Accrued Litigation for Both Covered and Non-Covered Litigation (Detail) - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period $ 914 $ 1,203
Balance at end of period 909 1,629
U.S. Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period 888 1,198
Balance at end of period 881 1,624
VE Territory Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period 21 5
Provision for legal matters 10 1
Balance at end of period 22 5
Uncovered Litigation    
Loss Contingency Accrual [Roll Forward]    
Provision for legal matters 1 0
Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Provision for legal matters 10 1
Interchange Multidistrict Litigation    
Loss Contingency Accrual [Roll Forward]    
Reestablishment of prior accrual related to interchange multidistrict litigation 0 467
Interchange Multidistrict Litigation | U.S. Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Provision for legal matters 0 467
Settled Litigation    
Loss Contingency Accrual [Roll Forward]    
Payments for legal matters (16) (42)
Settled Litigation | U.S. Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Payments for legal matters (7) (41)
Settled Litigation | VE Territory Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Payments for legal matters $ (9) $ (1)
v3.20.4
Legal Matters - Additional Information (Details)
 2 Months Ended 91 Months Ended
Dec. 22, 2020
numberOfPlaintiffs
Jan. 31, 2021
numberOfPlaintiffs
Jan. 29, 2021
merchant
Interchange Multidistrict Litigation | Subsequent Event      
Loss Contingencies [Line Items]      
Settlement percentage     40.00%
U.K. Merchant Litigation | Subsequent Event      
Loss Contingencies [Line Items]      
Number of plaintiffs     650
Number of claims settled     100
Merchants with outstanding claims     500
U.K. Merchant Litigation | Threatened Litigation | Subsequent Event      
Loss Contingencies [Line Items]      
Number of plaintiffs     30
German ATM Litigation      
Loss Contingencies [Line Items]      
Number of plaintiffs | numberOfPlaintiffs 275    
German ATM Litigation | Subsequent Event      
Loss Contingencies [Line Items]      
Number of plaintiffs | numberOfPlaintiffs   6