VISA INC., 10-Q filed on 7/31/2020
Quarterly Report
v3.20.2
Cover - shares
 9 Months Ended
Jun. 30, 2020
Jul. 24, 2020
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 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 $0.0001 per share  
Trading Symbol V  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001403161  
Current Fiscal Year End Date --09-30  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Class A common stock    
Entity Common Stock, Shares Outstanding   1,686,007,156
Class B common stock    
Entity Common Stock, Shares Outstanding   245,513,385
Class C common stock    
Entity Common Stock, Shares Outstanding   10,859,763
v3.20.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2020
Sep. 30, 2019
Assets    
Cash and cash equivalents $ 13,898 $ 7,838
Restricted cash equivalents—U.S. litigation escrow (Note 4 and Note 5) 1,148 1,205
Investment securities (Note 6) 2,739 4,236
Settlement receivable 2,111 3,048
Accounts receivable 1,453 1,542
Customer collateral (Note 4 and Note 9) 1,759 1,648
Current portion of client incentives 1,150 741
Prepaid expenses and other current assets 753 712
Total current assets 25,011 20,970
Investment securities (Note 6) 547 2,157
Client incentives 3,168 2,084
Property, equipment and technology, net 2,746 2,695
Goodwill 15,791 15,656
Intangible assets, net 27,188 26,780
Other assets 3,433 2,232
Total assets 77,884 72,574
Liabilities    
Accounts payable 153 156
Settlement payable 2,725 3,990
Customer collateral (Note 4 and Note 9) 1,759 1,648
Accrued compensation and benefits 703 796
Client incentives 4,208 3,997
Accrued liabilities 2,397 1,625
Current maturities of debt (Note 8) 2,999 0
Accrued litigation (Note 14) 1,156 1,203
Total current liabilities 16,100 13,415
Long-term debt (Note 8) 17,880 16,729
Deferred tax liabilities 4,728 4,807
Other liabilities 3,652 2,939
Total liabilities 42,360 37,890
Equity    
Right to recover for covered losses (Note 5) (24) (171)
Additional paid-in capital 16,457 16,541
Accumulated income 14,072 13,502
Accumulated other comprehensive income (loss), net:    
Investment securities 4 6
Defined benefit pension and other postretirement plans (192) (192)
Derivative instruments (39) 199
Foreign currency translation adjustments (52) (663)
Total accumulated other comprehensive income (loss), net (279) (650)
Total equity 35,524 34,684
Total liabilities and equity 77,884 72,574
Series A Preferred Stock    
Equity    
Preferred stock 0 0
UK&I preferred stock    
Equity    
Preferred stock 2,213 2,285
Europe preferred stock    
Equity    
Preferred stock 3,085 3,177
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
v3.20.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares
Jun. 30, 2020
Sep. 30, 2019
Preferred Stock    
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 25,000,000 25,000,000
Preferred stock, shares issued (in shares) 5,000,000 5,000,000
Preferred stock, shares outstanding (in shares) 5,000,000 5,000,000
Series A Preferred Stock    
Preferred stock, shares issued (in shares) 0 0
UK&I preferred stock    
Preferred stock, shares issued (in shares) 2,000,000 2,000,000
Preferred stock, shares outstanding (in shares) 2,000,000 2,000,000
Europe preferred stock    
Preferred stock, shares issued (in shares) 3,000,000 3,000,000
Preferred stock, shares outstanding (in shares) 3,000,000 3,000,000
Class A common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,001,622,000,000 2,001,622,000,000
Common stock, shares issued (in shares) 1,687,000,000 1,718,000,000
Common stock, shares outstanding (in shares) 1,687,000,000 1,718,000,000
Class B common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 622,000,000 622,000,000
Common stock, shares issued (in shares) 245,000,000 245,000,000
Common stock, shares outstanding (in shares) 245,000,000 245,000,000
Class C common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 1,097,000,000 1,097,000,000
Common stock, shares issued (in shares) 11,000,000 11,000,000
Common stock, shares outstanding (in shares) 11,000,000 11,000,000
v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Net revenues $ 4,837 $ 5,840 $ 16,745 $ 16,840
Operating Expenses        
Personnel 941 872 2,863 2,573
Marketing 174 282 683 799
Network and processing 172 184 536 528
Professional fees 95 113 304 305
Depreciation and amortization 197 165 571 484
General and administrative 258 315 840 855
Litigation provision (Note 14) 1 1 9 30
Total operating expenses 1,838 1,932 5,806 5,574
Operating income 2,999 3,908 10,939 11,266
Non-operating Income (Expense)        
Interest expense, net (142) (128) (371) (413)
Investment income and other 75 86 167 320
Total non-operating income (expense) (67) (42) (204) (93)
Income before income taxes 2,932 3,866 10,735 11,173
Income tax provision (Note 13) 559 765 2,006 2,118
Net income $ 2,373 $ 3,101 $ 8,729 $ 9,055
Class A common stock        
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 1.07 $ 1.37 $ 3.92 $ 3.98
Basic Weighted-average Shares Outstanding (in shares) 1,690 1,735 1,702 1,748
Diluted Earnings Per Share (in dollars per share) $ 1.07 $ 1.37 $ 3.92 $ 3.97
Diluted Weighted-average Shares Outstanding (in shares) 2,214 2,265 2,227 2,278
Class B common stock        
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 1.74 $ 2.23 $ 6.37 $ 6.49
Basic Weighted-average Shares Outstanding (in shares) 245 245 245 245
Diluted Earnings Per Share (in dollars per share) $ 1.74 $ 2.23 $ 6.36 $ 6.48
Diluted Weighted-average Shares Outstanding (in shares) 245 245 245 245
Class C common stock        
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 4.29 $ 5.48 $ 15.70 $ 15.92
Basic Weighted-average Shares Outstanding (in shares) 11 12 11 12
Diluted Earnings Per Share (in dollars per share) $ 4.29 $ 5.48 $ 15.68 $ 15.90
Diluted Weighted-average Shares Outstanding (in shares) 11 12 11 12
v3.20.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Statement of Comprehensive Income [Abstract]        
Net income $ 2,373 $ 3,101 $ 8,729 $ 9,055
Investment securities:        
Net unrealized gain (loss) (3) 5 2 20
Income tax effect 1 (1) 0 (5)
Reclassification adjustments (1) 1 (3) 1
Income tax effect 1 0 1 0
Defined benefit pension and other postretirement plans:        
Net unrealized actuarial gain (loss) and prior service credit (cost) 0 (1) 2 (8)
Income tax effect 0 0 (1) 1
Reclassification adjustments 9 2 15 2
Income tax effect (2) 0 (3) 0
Derivative instruments:        
Net unrealized gain (loss) (106) (68) (247) 29
Income tax effect 23 14 54 (9)
Reclassification adjustments (43) (22) (58) (69)
Income tax effect 9 4 13 13
Foreign currency translation adjustments 277 262 621 (419)
Other comprehensive income (loss), net of tax 165 196 396 (444)
Comprehensive income $ 2,538 $ 3,297 $ 9,125 $ 8,611
v3.20.2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
UK&I preferred stock
Europe preferred stock
Class A common stock
Preferred Stock
Preferred Stock
UK&I preferred stock
Preferred Stock
Europe preferred stock
Common Stock
Class A common stock
Common Stock
Class B common stock
Common Stock
Class C common stock
Right to Recover for Covered Losses
Additional Paid-In Capital
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
Beginning balance (in shares) at Sep. 30, 2018             2 3 1,768 245 12            
Beginning balance at Sep. 30, 2018 $ 34,006 $ 392       $ 5,470           $ (7) $ 16,678 $ 11,318   $ 547  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Net income 9,055                         9,055      
Other comprehensive income (loss), net of tax (444)                             (444)  
Comprehensive income 8,611                                
VE territory covered losses incurred (Note 5) (170)                     (170)          
Recovery through conversion rate adjustment (Note 5 and 10)     $ 6 $ 2   (8)           8          
Conversion of class C common stock upon sales into public market (in shares)                 1   0 [1]            
Vesting of restricted stock and performance-based shares (in shares)                 3                
Share-based compensation, net of forfeitures (Note 12) 321                       321        
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 (106)                       (106)        
Cash proceeds from issuance of common stock under employee equity plans (in shares)                 2                
Cash proceeds from issuance of common stock under employee equity plans 127                       127        
Cash dividends declared and paid, at a quarterly amount per Class A share (1,706)                         (1,706)      
Repurchase of class A common stock (Note 10) (in shares)         (44)       (44)                
Repurchase of class A common stock (Note 10) (6,480)       $ (6,480)               (468) (6,012)      
Ending balance (in shares) at Jun. 30, 2019             2 3 1,729 245 12            
Ending balance at Jun. 30, 2019 34,995         5,462           (169) 16,552 13,040 $ 385 110 $ 7
Beginning balance (in shares) at Mar. 31, 2019             2 3 1,741 245 12            
Beginning balance at Mar. 31, 2019 34,275         5,464           (163) 16,547 12,513   (86)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Net income 3,101                         3,101      
Other comprehensive income (loss), net of tax 196                             196  
Comprehensive income 3,297                                
VE territory covered losses incurred (Note 5) (8)                     (8)          
Recovery through conversion rate adjustment (Note 5 and 10) 0         (2)           2          
Conversion of class C common stock upon sales into public market (in shares) [1]                 0   0            
Vesting of restricted stock and performance-based shares (in shares) [1]                 0                
Share-based compensation, net of forfeitures (Note 12) 110                       110        
Restricted stock and performance-based shares settled in cash for taxes (in shares) [1]                 0                
Restricted stock and performance-based shares settled in cash for taxes (3)                       (3)        
Cash proceeds from issuance of common stock under employee equity plans (in shares)                 1                
Cash proceeds from issuance of common stock under employee equity plans 38                       38        
Cash dividends declared and paid, at a quarterly amount per Class A share (565)                         (565)      
Repurchase of class A common stock (Note 10) (in shares)         (13)       (13)                
Repurchase of class A common stock (Note 10) (2,149)       $ (2,149)               (140) (2,009)      
Ending balance (in shares) at Jun. 30, 2019             2 3 1,729 245 12            
Ending balance at Jun. 30, 2019 34,995         5,462           (169) 16,552 13,040 385 110 7
Beginning balance (in shares) at Sep. 30, 2019             2 3 1,718 245 11            
Beginning balance at Sep. 30, 2019 34,684         5,462 $ 2,285 $ 3,177       (171) 16,541 13,502   (650)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Net income 8,729                         8,729      
Other comprehensive income (loss), net of tax 396                                
Comprehensive income 9,125                                
VE territory covered losses incurred (Note 5) (22)           0 0       (22)          
Recovery through conversion rate adjustment (Note 5 and 10) 5   $ 72 $ 92   (164) $ 72 $ 92       169          
Conversion of class C common stock upon sales into public market (in shares)                 3   0 [1]            
Vesting of restricted stock and performance-based shares (in shares)                 3                
Share-based compensation, net of forfeitures (Note 12) 322                       322        
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 (158)                       (158)        
Cash proceeds from issuance of common stock under employee equity plans (in shares)                 1                
Cash proceeds from issuance of common stock under employee equity plans 142                       142        
Cash dividends declared and paid, at a quarterly amount per Class A share (2,002)                         (2,002)      
Repurchase of class A common stock (Note 10) (in shares)         (37)       (37)                
Repurchase of class A common stock (Note 10) (6,572)       $ (6,572)               (390) (6,182)      
Ending balance (in shares) at Jun. 30, 2020             2 3 1,687 245 11            
Ending balance at Jun. 30, 2020 35,524         5,298 $ 2,213 $ 3,085       (24) 16,457 14,072 25 (279) (25)
Beginning balance (in shares) at Mar. 31, 2020             2 3 1,693 245 11            
Beginning balance at Mar. 31, 2020 34,585         5,462           (184) 16,385 13,366   (444)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Net income 2,373                         2,373      
Other comprehensive income (loss), net of tax 165                             165  
Comprehensive income 2,538                                
VE territory covered losses incurred (Note 5) (9)                     (9)          
Recovery through conversion rate adjustment (Note 5 and 10) 5         (164)           169          
Vesting of restricted stock and performance-based shares (in shares) [1]                 0                
Share-based compensation, net of forfeitures (Note 12) 107                       107        
Restricted stock and performance-based shares settled in cash for taxes (in shares) [1]                 0                
Restricted stock and performance-based shares settled in cash for taxes (3)                       (3)        
Cash proceeds from issuance of common stock under employee equity plans (in shares) [1]                 0                
Cash proceeds from issuance of common stock under employee equity plans 33                       33        
Cash dividends declared and paid, at a quarterly amount per Class A share (663)                         (663)      
Repurchase of class A common stock (Note 10) (in shares)         (6)       (6)                
Repurchase of class A common stock (Note 10) (1,069)       $ (1,069)               (65) (1,004)      
Ending balance (in shares) at Jun. 30, 2020             2 3 1,687 245 11            
Ending balance at Jun. 30, 2020 $ 35,524         $ 5,298 $ 2,213 $ 3,085       $ (24) $ 16,457 $ 14,072 $ 25 $ (279) $ (25)
[1] Increase or decrease is less than one million shares.
v3.20.2
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) (Parenthetical) - $ / shares
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]        
Cash dividends declared and paid, quarterly, per Class A share (in dollars per share) $ 0.30 $ 0.25 $ 0.30 $ 0.25
v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income $ 8,729 $ 9,055
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Client incentives (Note 3) 4,966 4,480
Share-based compensation (Note 12) 322 321
Depreciation and amortization of property, equipment, technology and intangible assets 571 484
Deferred income taxes (116) 234
VE territory covered losses incurred (Note 5) (22) (170)
Other (149) (204)
Change in operating assets and liabilities:    
Settlement receivable 966 (127)
Accounts receivable 108 (319)
Client incentives (6,261) (4,778)
Other assets (464) (172)
Accounts payable 7 (22)
Settlement payable (1,324) 280
Accrued and other liabilities 1,058 257
Accrued litigation (Note 14) (47) (577)
Net cash provided by (used in) operating activities 8,344 8,742
Investing Activities    
Purchases of property, equipment and technology (568) (507)
Investment securities:    
Purchases (549) (2,321)
Proceeds from maturities and sales 3,675 3,870
Acquisitions, net of cash acquired (77) (136)
Purchases of / contributions to other investments (254) (482)
Proceeds / distributions from other investments 5 10
Other investing activities 76 (21)
Net cash provided by (used in) investing activities 2,308 413
Financing Activities    
Repurchase of class A common stock (Note 10) (6,572) (6,480)
Dividends paid (Note 10) (2,002) (1,706)
Proceeds from issuance of senior notes (Note 8) 3,985 0
Payment of deferred purchase consideration related to Visa Europe acquisition 0 (1,236)
Cash proceeds from issuance of common stock under employee equity plans 142 127
Restricted stock and performance-based shares settled in cash for taxes (158) (106)
Other financing activities (118) 0
Net cash provided by (used in) financing activities (4,723) (9,401)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents 173 (62)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 6,102 (308)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period (Note 4) 10,832 10,977
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period (Note 4) 16,934 10,669
Supplemental Disclosure    
Income taxes paid, net of refunds 1,793 1,992
Interest payments on debt 503 503
Accruals related to purchases of property, equipment and technology $ 34 $ 87
v3.20.2
Summary of Significant Accounting Policies
 9 Months Ended
Jun. 30, 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 fast, 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 networks — VisaNet — which facilitates authorization, clearing and settlement of payment transactions and enables the Company to provide its financial institution and merchant 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 on 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, 2019 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 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 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 the spread of 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 Issued and Adopted Accounting Pronouncements.
In February 2016, the FASB issued ASU 2016-02, which requires the recognition of lease assets and lease liabilities arising from operating leases on the balance sheet. Subsequently, the FASB also issued a series of amendments to this new leases standard that address the transition methods available and clarify the guidance for lessor costs and other aspects of the new leases standard. The Company adopted the standard effective October 1, 2019 using the modified retrospective transition method with comparative periods continuing to be reported using the prior leases standard. The Company elected to apply the package of practical expedients permitted under the transition guidance, allowing the Company to carry forward the historical assessment of whether a contract was or
contains a lease, lease classification and capitalization of initial direct costs. The adoption did not have a material impact on the consolidated financial statements.
In accordance with ASU 2016-02, the Company determines if an arrangement is a lease at its inception. Right-of-use (“ROU”) assets, and corresponding lease liabilities, are recognized at the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As a majority of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company does not record a ROU asset and corresponding liability for leases with terms of 12 months or less.
The Company does not include renewals in the determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. The Company does not combine lease payments with non-lease components for any of its leases. Operating leases are recorded as ROU assets, which are included in other assets. The current portion of lease liabilities are included in accrued liabilities and the long-term portion is included in other liabilities on the consolidated balance sheet. The Company’s lease cost consists of amounts recognized under lease agreements in the results of operations adjusted for impairment and sublease income.
In February 2018, the FASB issued ASU 2018-02, which allows a reclassification from accumulated other comprehensive income to retained earnings for adjustments to tax effects that were originally recorded in other comprehensive income due to changes in the U.S. federal corporate income tax rate resulting from the enactment of the U.S. tax reform legislation, commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Company adopted the ASU effective October 1, 2019. The adoption did not have a material impact on the consolidated financial statements.
In December 2019, the FASB issued ASU 2019-12, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in the existing guidance for income taxes and making other minor improvements. The amendments in the ASU are effective for the Company on October 1, 2021. The Company does not plan to early adopt the ASU at this time. The adoption is not expected to have a material impact on the consolidated financial statements.
In January 2020, the FASB issued ASU 2020-01, which clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the fair value measurement alternative. The amendments in the ASU are effective for the Company on October 1, 2021. The adoption is not expected to have a material impact on the consolidated financial statements.
In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate or another reference rate expected to be discontinued because of reference rate reform. The amendments in the ASU are effective for the Company upon issuance through December 31, 2022. The Company is evaluating the effect ASU 2020-04 will have on its consolidated financial statements.
v3.20.2
Acquisitions
 9 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Acquisitions
Note 2—Acquisitions
Pending Acquisition. On January 13, 2020, the Company entered into a definitive agreement to acquire Plaid, Inc. for $5.3 billion. The Company will pay approximately $4.9 billion of cash and $0.4 billion of retention equity and deferred equity consideration. This acquisition is subject to customary closing conditions, including ongoing regulatory reviews and approvals, which are expected to be completed by the end of 2020.
v3.20.2
Revenues
 9 Months Ended
Jun. 30, 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 and nine months ended June 30, 2020 and 2019:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2020201920202019
(in millions)
Service revenues$2,409  $2,405  $7,587  $7,164  
Data processing revenues2,525  2,662  8,100  7,564  
International transaction revenues1,102  1,977  4,953  5,624  
Other revenues314  342  1,071  968  
Client incentives(1,513) (1,546) (4,966) (4,480) 
Net revenues $4,837  $5,840  $16,745  $16,840  

Three Months Ended
June 30,		Nine Months Ended
June 30,
2020201920202019
(in millions)
U.S.$2,380  $2,587  $7,747  $7,573  
International2,457  3,253  8,998  9,267  
Net revenues$4,837  $5,840  $16,745  $16,840  
v3.20.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
 9 Months Ended
Jun. 30, 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:
June 30,
2020		September 30,
2019
(in millions)
Cash and cash equivalents$13,898  $7,838  
Restricted cash and restricted cash equivalents:
U.S. litigation escrow1,148  1,205  
Customer collateral1,759  1,648  
Prepaid expenses and other current assets 129  141  
Cash, cash equivalents, restricted cash and restricted cash equivalents
$16,934  $10,832  
v3.20.2
U.S. and Europe Retrospective Responsibility Plan
 9 Months Ended
Jun. 30, 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.
On December 13, 2019, the district court entered the final judgment order approving the Amended Settlement Agreement with the Damages Class plaintiffs in the Interchange Multidistrict Litigation proceedings. A takedown payment of approximately $467 million was received on December 27, 2019, and deposited into the Company’s litigation escrow account. The deposit into the litigation escrow account and reestablishment of a prior accrual to address opt-out claims was recorded during the nine months ended June 30, 2020. The accrual related to the U.S. covered litigation could be either higher or lower than the litigation escrow account balance. See Note 14—Legal Matters.
The following table sets forth the changes in the restricted cash equivalents—U.S. litigation escrow account:
Nine Months Ended
June 30,
20202019
 (in millions)
Balance at beginning of period$1,205  $1,491  
Return of takedown payment to the litigation escrow account467  —  
Payments to class plaintiffs’ settlement fund(1)
—  (600) 
Payments to opt-out merchants(1) and interest earned on escrow funds
(524) 11  
Balance at end of period$1,148  $902  
(1)These payments are associated with the Interchange Multidistrict Litigation. See Note 14—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 and nine months ended June 30, 2020, the Company recovered $164 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 conversion rates applicable to the UK&I and Europe preferred stock were reduced from 12.936 and 13.884, respectively, as of September 30, 2019 to 12.775 and 13.722, respectively, as of June 30, 2020.
The following table sets forth the activities related to VE territory covered losses in preferred stock and “right to recover for covered losses” within equity during the nine months ended June 30, 2020.
Preferred StockRight to Recover for Covered Losses
UK&IEurope
(in millions)
Balance as of September 30, 2019$2,285  $3,177  $(171) 
VE territory covered losses incurred(1)
—  —  (22) 
Recovery through conversion rate adjustment(2)
(72) (92) 169  
Balance as of June 30, 2020$2,213  $3,085  $(24) 
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 14—Legal Matters.
(2)Adjustment to right to recover for covered losses for the conversion rate adjustment differs from the actual recovered amount due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustment.
The following table 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 June 30, 2020 and September 30, 2019:
June 30, 2020September 30, 2019
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$6,121  $2,213  $5,519  $2,285  
Europe preferred stock8,368  3,085  7,539  3,177  
Total14,489  5,298  13,058  5,462  
Less: right to recover for covered losses(24) (24) (171) (171) 
Total recovery for covered losses available$14,465  $5,274  $12,887  $5,291  
(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 June 30, 2020; (b) 12.775 and 13.722, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of June 30, 2020, respectively; and (c) $193.17, Visa’s class A common stock closing stock price as of June 30, 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, 2019; (b) 12.936 and 13.884, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of September 30, 2019, respectively; and (c) $172.01, Visa’s class A common stock closing stock price as of September 30, 2019.
v3.20.2
Fair Value Measurements and Investments
 9 Months Ended
Jun. 30, 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
 June 30,
2020		September 30,
2019		June 30,
2020		September 30,
2019
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$12,739  $6,494  
U.S. government-sponsored debt securities
$—  $150  
Investment securities:
Marketable equity securities
140  126  
U.S. government-sponsored debt securities
2,892  5,592  
U.S. Treasury securities
254  675  
Other current and non-current assets:
Derivative instruments
672  437  
Total $13,133  $7,295  $3,564  $6,179  
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$128  $113  
Accrued and other liabilities:
Derivative instruments
$247  $52  
Total $128  $113  $247  $52  
There were no transfers between Level 1 and Level 2 assets during the nine months ended June 30, 2020.
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 quoted prices in active markets. 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. The pricing data obtained from outside sources is reviewed internally for reasonableness, compared against benchmark quotes from independent pricing sources, then confirmed or revised accordingly. Derivative instruments are valued using inputs that are observable in the market or can be derived principally from or corroborated by observable market data. There were no substantive changes to the valuation techniques and related inputs used to measure fair value during the nine months ended June 30, 2020.
U.S. government-sponsored debt securities and U.S. Treasury securities. The Company considers U.S. government-sponsored debt securities and U.S. Treasury securities to be available-for-sale and held $3.1 billion and $6.3 billion of these investment securities as of June 30, 2020 and September 30, 2019, 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 and nine months ended June 30, 2020, $56 million and $65 million, respectively, of upward adjustments were included in the carrying value of non-marketable equity securities. No material downward adjustments were included during the same periods. During the three and nine months ended June 30, 2020, $6 million in impairment was recognized. There was no impairment recognized during the same prior-year comparable periods. The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of June 30, 2020 including cumulative unrealized gains and losses:
June 30, 2020
(in millions)
Initial cost basis$834  
Upward adjustments175  
Downward adjustments (including impairment)(11) 
Carrying amount, end of period$998  
Non-financial assets and liabilities. Long-lived assets such as goodwill, indefinite-lived intangible assets, finite-lived intangible assets and property, equipment and technology are considered non-financial assets. The Company does not have any non-financial liabilities measured at fair value on a non-recurring basis. Finite-lived intangible assets primarily consist of customer relationships and trade names, all of which were obtained through acquisitions.
If the Company were required to perform a quantitative assessment for impairment testing of goodwill and indefinite-lived intangible assets, the fair values would generally be estimated using an income approach. As the assumptions employed to measure these assets on a non-recurring basis are based on management’s judgment using internal and external data, these fair value determinations are classified as Level 3 in the fair value hierarchy. The Company completed its annual impairment review of its indefinite-lived intangible assets and goodwill as of February 1, 2020, and concluded that there was no impairment. No recent events or changes in circumstances indicate that impairment existed at June 30, 2020.
Gains and Losses on Marketable and Non-marketable Equity Securities
Gains and losses on the Company’s equity securities are summarized below.
 Three Months Ended
June 30,		Nine Months Ended
June 30,
 2020201920202019
 (in millions)
Net gain (loss) on equity securities sold during the period$—  $1  $5  $16  
Unrealized gain (loss) on equity securities held as of the end of the period
68  10  59  69  
Total gain (loss) recognized in non-operating income (expense), net
$68  $11  $64  $85  
Other Fair Value Disclosures
Long-term debt. Debt instruments are measured at amortized cost on the Company’s consolidated balance sheets. The fair value of the debt instruments, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, assets. The pricing data obtained from outside sources is reviewed internally for reasonableness, compared against benchmark quotes from independent pricing sources, then confirmed or revised accordingly. If measured at fair value in the financial statements, these instruments would be classified as Level 2 in the fair value hierarchy. The carrying value and estimated fair value of long-term debt was $20.9 billion and $23.4 billion, respectively, as of June 30, 2020. The carrying value and estimated fair value of long-term debt was $16.7 billion and $18.4 billion, respectively, as of September 30, 2019.
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 June 30, 2020, but disclosure of their fair values is required: settlement receivable and payable, accounts receivable and customer collateral. The estimated fair value of such instruments at June 30, 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.
v3.20.2
Leases
 9 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Leases
Note 7—Leases
The Company entered into various operating lease agreements primarily for real estate. The Company's leases have original lease periods expiring between fiscal 2020 and 2030. Many leases include one or more options to renew. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Payments under the Company’s lease arrangements are generally fixed. At June 30, 2020, the Company had no finance leases.
During the three and nine months ended June 30, 2020, total operating lease cost was $29 million and $84 million, respectively. At June 30, 2020, the weighted average remaining lease term for operating leases was approximately 7 years and the weighted average discount rate for operating leases was 2.28%.
At June 30, 2020, the present value of future minimum lease payments was as follows:
June 30, 2020
(in millions)
Remainder of 2020$29  
2021107  
2022100  
202393  
202480  
Thereafter226  
Total undiscounted lease payments635  
Less: imputed interest(52) 
Present value of lease liabilities$583  
At June 30, 2020, the Company had additional operating leases that had not yet commenced with lease obligations of $465 million. These operating leases will commence between fiscal 2020 and 2023 with non-cancellable lease terms of 1 to 15 years.
v3.20.2
Debt
 9 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Debt
Note 8—Debt
The Company had outstanding debt as follows:
June 30,
2020		September 30,
2019
Effective Interest Rate(1)
(in millions, except percentages)
2.20% Senior Notes due December 2020
$3,000  $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  —  2.02 %
2.75% Senior Notes due September 2027
750  750  2.91 %
2.05% Senior Notes due April 2030
1,500  —  2.13 %
4.15% Senior Notes due December 2035
1,500  1,500  4.23 %
2.70% Senior Notes due April 2040
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 %
Total debt
20,750  16,750  
Unamortized discounts and debt issuance costs
(134) (108) 
Hedge accounting fair value adjustments(2)
263  87  
Total carrying value of debt
$20,879  $16,729  
Reported as:
Current maturities of debt
$2,999  $—  
Long-term debt
17,880  16,729  
Total carrying value of debt
$20,879  $16,729  
(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 certain outstanding senior notes.
Commercial Paper Program
Visa maintains a commercial paper program to support its working capital requirements and for other general corporate purposes. Under the program, the Company is authorized to issue up to $3.0 billion in outstanding notes, with maturities up to 397 days from the date of issuance. During the three months ended June 30, 2020, the Company repaid $1.0 billion of commercial paper that was issued during the three months ended March 31, 2020. The Company had no outstanding obligations under the program at June 30, 2020 and September 30, 2019.
Senior Notes
In April 2020, the Company issued fixed-rate senior notes in a public offering for an aggregate principal amount of $4.0 billion, with maturities ranging between 7 and 20 years. The April 2027 Notes, 2030 Notes and 2040 Notes, or collectively, the "2020 Notes", have interest rates of 1.90%, 2.05% and 2.70%, respectively. Interest on the 2020 Notes is payable semi-annually on April 15 and October 15 of each year, commencing October 15, 2020. The net aggregate proceeds, after deducting discounts and debt issuance costs, were approximately $4.0 billion. The Company plans to use the net proceeds for general corporate purposes.
The 2020 Notes are senior unsecured obligations of the Company, ranking equally with the Company's other senior unsecured indebtedness. The Company may redeem the 2020 Notes as a whole or in part at any time and from time to time at specified redemption prices.
Future principal payments on the Company’s outstanding debt are as follows:
For the Years Ending September 30,
20202021202220232024ThereafterTotal
(in millions)
Future principal payments$—  $3,000  $1,000  $2,250  $—  $14,500  $20,750  
v3.20.2
Settlement Guarantee Management
 9 Months Ended
Jun. 30, 2020
Settlement Guarantee Management [Abstract]  
Settlement Guarantee Management
Note 9—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. The Company’s maximum daily settlement exposure was $97.3 billion and the average daily settlement exposure was $54.4 billion during the nine months ended June 30, 2020.
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 June 30, 2020 and September 30, 2019, the Company held collateral as follows:
June 30,
2020		September 30,
2019
 (in millions)
Restricted cash and restricted cash equivalents$1,759  $1,648  
Pledged securities at market value281  259  
Letters of credit1,273  1,293  
Guarantees704  477  
Total$4,017  $3,677  
v3.20.2
Stockholders' Equity
 9 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Note 10—Stockholders’ Equity
As-converted class A common stock. The following table presents the number of shares of each series and class of stock and the number of shares of class A common stock on an as-converted basis:
June 30, 2020September 30, 2019
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)
UK&I preferred stock2  12.7750  32  2  12.9360  32  
Europe preferred stock3  13.7220  43  3  13.8840  44  
Class A common stock(2)
1,687  —1,687  1,718  —  1,718  
Class B common stock245  1.6228  
(3)
398  245  1.6228  
(3)
398  
Class C common stock11  4.0000  43  11  4.0000  45  
Total2,203  2,237  
(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)Class A common stock shares outstanding reflect repurchases that settled on or before June 30, 2020 and September 30, 2019.
(3)The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.
Reduction in as-converted shares. 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 equivalent number of as-converted shares of class A common stock, effective price per share and recovery of VE territory covered losses through conversion rate adjustments:
Nine Months Ended
June 30, 2020		Nine Months Ended
June 30, 2019
UK&IEuropeUK&IEurope
(in millions, except per share data)
Reduction in equivalent number of as-converted class A common stock
—  
(1)
1—  
(1)
—  
(1)
Effective price per share(2)
$180.00  $180.00  $141.32  $150.26  
Recovery through conversion rate adjustment
$72  $92  $6  $2  
(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
June 30,		Nine Months Ended
June 30,
2020201920202019
(in millions, except per share data)
Shares repurchased in the open market(1)
6  13  37  44  
Average repurchase price per share(2)
$177.86  $162.97  $179.91  $147.66  
Total cost(2)
$1,069  $2,149  $6,572  $6,480  
(1)Shares repurchased in the open market reflect repurchases that settled during the three and nine months ended June 30, 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 2019, the Company’s board of directors authorized an $8.5 billion share repurchase program and in January 2020, authorized an additional $9.5 billion share purchase program (the “January 2020 Program”). These authorizations have no expiration date. As of June 30, 2020, the Company’s January 2020 Program had remaining authorized funds of $7.0 billion for share repurchase. All share repurchase programs authorized prior to the January 2020 Program have been completed.
Dividends. On July 20, 2020, the Company’s board of directors declared a quarterly cash dividend of $0.30 per share of class A common stock (determined in the case of class B and C common stock and UK&I and Europe preferred stock on an as-converted basis). The cash dividend will be paid on September 1, 2020, to all holders of record as of August 14, 2020. The Company declared and paid $663 million and $565 million during the three months ended June 30, 2020 and 2019, respectively and $2.0 billion and $1.7 billion during the nine months ended June 30, 2020 and 2019, respectively, in dividends to holders of the Company’s common and preferred stocks.
v3.20.2
Earnings Per Share
 9 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share
Note 11—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 10—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 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 June 30, 2020:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$1,814  1,690  $1.07  $2,373  2,214  
(3)
$1.07  
Class B common stock428  245  $1.74  $427  245  $1.74  
Class C common stock46  11  $4.29  $47  11  $4.29  
Participating securities(4)
85  Not presentedNot presented$85  Not presentedNot presented
Net income$2,373  
The following table presents earnings per share for the nine months ended June 30, 2020:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$6,679  1,702  $3.92  $8,729  2,227  
(3)
$3.92  
Class B common stock1,564  245  $6.37  $1,561  245  $6.36  
Class C common stock172  11  $15.70  $172  11  $15.68  
Participating securities(4)
314  Not presentedNot presented$314  Not presentedNot presented
Net income$8,729  
The following table presents earnings per share for the three months ended June 30, 2019:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$2,379  1,735  $1.37  $3,101  2,265  
(3)
$1.37  
Class B common stock549  245  $2.23  $548  245  $2.23  
Class C common stock63  12  $5.48  $63  12  $5.48  
Participating securities(4)
110  Not presentedNot presented$110  Not presentedNot presented
Net income$3,101  
The following table presents earnings per share for the nine months ended June 30, 2019:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$6,956  1,748  $3.98  $9,055  2,278  
(3)
$3.97  
Class B common stock1,592  245  $6.49  $1,590  245  $6.48  
Class C common stock186  12  $15.92  $185  12  $15.90  
Participating securities(4)
321  Not presentedNot presented$321  Not presentedNot presented
Net income$9,055  
(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 and nine months ended June 30, 2020 and 400 million for the three and nine months ended June 30, 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 and nine months ended June 30, 2020, respectively, and 46 million and 47 million for the three and nine months ended June 30, 2019, respectively. The weighted-average number of shares of preferred stock included within participating securities was 32 million of as-converted UK&I preferred stock for the three and nine months ended June 30, 2020 and 2019, and 44 million of as-converted Europe preferred stock for the three and nine months ended June 30, 2020 and 2019.
(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 and nine months ended June 30, 2020 and 2019, because their effect would have been dilutive. The computation excludes common stock equivalents of 1 million for the three and nine months ended June 30, 2020, and less than 1 million for the three and nine months ended June 30, 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 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.
v3.20.2
Share-based Compensation
 9 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Compensation
Note 12—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 nine months ended June 30, 2020:
GrantedWeighted-Average
Grant Date Fair
Value		Weighted-Average
Exercise Price
Non-qualified stock options1,247,982  $29.37  $182.50  
Restricted stock units2,287,483  $183.22  
Performance-based shares(1)
470,128  $211.08  
(1)Represents the maximum number of performance-based shares which could be earned.
The Company recorded share-based compensation cost related to the EIP of $102 million and $106 million for the three months ended June 30, 2020 and 2019, respectively, and $306 million and $307 million for the nine months ended June 30, 2020 and 2019, respectively, net of estimated forfeitures.
v3.20.2
Income Taxes
 9 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
Income Taxes
Note 13—Income Taxes
The effective income tax rates were 19% for the three and nine months ended June 30, 2020, and 20% and 19% for the three and nine months ended June 30, 2019, respectively. The difference in the effective tax rates between the three-month periods was primarily due to the change in geographic mix of income.
During the three and nine months ended June 30, 2020, the Company’s gross unrecognized tax benefits increased by $55 million and $230 million, respectively. The Company’s net unrecognized tax benefits that, if recognized, would favorably impact the effective tax rate, increased by $31 million and $70 million, respectively. The change in unrecognized tax benefits is primarily related to various tax positions across several jurisdictions. The Company’s accrued interest related to uncertain tax positions increased by $18 million and $56 million during the three and nine months ended June 30, 2020, respectively, and $19 million and $51 million during the three and nine months ended June 30, 2019, respectively. During the three and nine months ended June 30, 2020 and 2019, there were no significant changes in penalties related to uncertain tax positions.
The Company’s tax filings are subject to examination by the 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.
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted in the U.S. on March 27, 2020. The CARES Act includes several U.S. income tax provisions related to, among other things, net operating loss carrybacks, alternative minimum tax credits, modifications to the net interest deduction limitations, and technical amendments regarding the income tax depreciation of qualified improvement property placed in service after December 31, 2017. The CARES Act is not expected to have a material impact on the Company’s financial results.
On July 22, 2020, UK enacted a legislation that repealed the previous tax rate reduction from 19% to 17% that was effective on April 1, 2020. The repeal of the UK tax rate reduction is not expected to significantly increase the Company’s ongoing effective tax rate, however, it will result in a one-time non-cash tax expense in the fourth quarter of fiscal 2020, due to the re-measurement of deferred taxes which are primarily related to intangibles recorded in purchase accounting upon the acquisition of Visa Europe in fiscal 2016.
v3.20.2
Legal Matters
 9 Months Ended
Jun. 30, 2020
Legal Matters [Abstract]  
Legal Matters
Note 14—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 its litigation profile, the specifics of each case, advice of counsel to the extent appropriate and management’s best estimate of incurred loss as of the balance sheet date.
The following table summarizes the activity related to accrued litigation:
 Nine Months Ended
June 30,
 20202019
 (in millions)
Balance at beginning of period$1,203  $1,434  
Provision for uncovered legal matters7  37  
Provision for covered legal matters14  165  
Reestablishment of prior accrual related to interchange multidistrict litigation467  —  
Payments for legal matters(535) (780) 
Balance at end of period$1,156  $856  
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. See further discussion below under U.S. Covered Litigation and Note 5—U.S. and Europe Retrospective Responsibility Plans. 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 litigation committee. The total accrual related to the U.S. covered litigation could be either higher or lower than the escrow account balance.
The following table summarizes the accrual activity related to U.S. covered litigation:
 Nine Months Ended
June 30,
 20202019
 (in millions)
Balance at beginning of period$1,198  $1,428  
Reestablishment of prior accrual related to interchange multidistrict litigation467  —  
Payments for U.S. covered litigation(529) (600) 
Balance at end of period$1,136  $828  
In fiscal 2019, the Company paid $600 million from its litigation escrow account into a settlement fund established pursuant to the Amended Settlement Agreement with the Damages Class plaintiffs in the Interchange Multidistrict Litigation. Under the Amended Settlement Agreement, if class members opt out of the Damages Class, the defendants are entitled to receive takedown payments of up to $700 million (up to $467 million for Visa), based on the percentage of payment card sales volume attributable to merchants who have chosen to opt out. On December 13, 2019, the district court entered a final judgment order approving the Amended Settlement Agreement with the Damages Class plaintiffs. A takedown payment of approximately $467 million was received on December 27, 2019, and deposited into the Company’s litigation escrow account. The deposit into the litigation escrow account and reestablishment of a prior accrual to address opt-out claims was recorded during the nine months ended June 30, 2020. See further discussion below under U.S. Covered Litigation.
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:
 Nine Months Ended
June 30,
 20202019
(in millions)
Balance at beginning of period$5  $—  
Provision for VE territory covered litigation14  165  
Payments for VE territory covered litigation(5) (156) 
Balance at end of period$14  $9  
U.S. Covered Litigation
Interchange Multidistrict Litigation (MDL) – Putative Class Actions
On November 20, 2019, the district court denied the bank defendants’ motion to dismiss the claims brought against them by the putative Injunctive Relief Class.
On December 13, 2019, the district court granted final approval of the Amended Settlement Agreement relating to claims by the Damages Class, which was subsequently appealed.
On May 29, 2020, a complaint was filed by Old Jericho Enterprise, Inc. against Visa and Mastercard on behalf of a purported class of gasoline retailers operating in 24 states and the District of Columbia. The complaint alleges violations of the antitrust laws of those jurisdictions and seeks recovery for plaintiffs as indirect purchasers. Visa believes Plaintiffs’ claims are released by the Amended Settlement Agreement and are, nevertheless, covered by the U.S. Retrospective Responsibility Plan.

On June 1, 2020, Visa, jointly with other defendants, served a motion for summary judgment regarding the claims in the Injunctive Relief Class complaint. The putative Injunctive Relief Class plaintiffs served a motion for partial summary judgment.
Interchange Multidistrict Litigation (MDL) - Individual Merchant Actions
Visa has reached settlements with a number of merchants representing approximately 30% of the Visa-branded payment card sales volume of merchants who opted out of the Amended Settlement Agreement with the Damages Class plaintiffs.
On June 1, 2020, Visa, jointly with other defendants, served motions for summary judgment regarding the claims in certain of the individual merchant actions, as well as certain declaratory judgment claims brought by Visa, Mastercard, and some U.S. financial institutions. Plaintiffs in certain of the individual merchant actions served motions for partial summary judgment.
VE Territory Covered Litigation
Europe Merchant Litigation
Since July 2013, in excess of 500 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 400 Merchants with outstanding claims. In addition, over 30 additional Merchants have threatened to commence similar proceedings. Standstill agreements have been entered into with respect to some of those threatened Merchant claims, several of which have been settled.
On June 17, 2020, the Supreme Court of the United Kingdom found that Visa’s UK domestic interchange restricted competition. The case will now continue before the UK Competition Appeals Tribunal to determine the lawful level of interchange and the amount the plaintiff may be entitled to recover.
Other Litigation
Canadian Merchant Litigation
Between August 2019 and January 2020, the Courts of Appeal in British Columbia, Quebec, Ontario and Saskatchewan rejected the appeals filed by Wal-Mart Canada and Home Depot of Canada Inc. In January 2020, Wal-Mart Canada and Home Depot of Canada Inc. filed applications to appeal the decisions of the British Columbia, Quebec and Ontario courts to the Supreme Court of Canada and those applications were denied on March 26, 2020. Wal-Mart Canada and Home Depot of Canada Inc. also filed an application seeking the Supreme Court’s review of the Saskatchewan court's decision. The application and an appeal to the Alberta Court of Appeal remain pending.
Pulse Network
On June 5, 2020, the U.S. Court of Appeals for the Fifth Circuit set the case for re-argument during the week of August 31, 2020.
Nuts for Candy
On December 31, 2019, plaintiff filed a motion to dismiss and for attorneys’ fees and costs based on the settlement reached between the parties and the grant of final approval of the 2018 Amended Settlement Agreement as discussed above in Interchange Multidistrict Litigation (MDL) - Putative Class Actions.
On February 25, 2020, the court granted plaintiff’s motion to dismiss and for attorneys’ fees and costs. The case has been dismissed with prejudice.
Federal Trade Commission Civil Investigative Demand (Formerly Voluntary Access Letter)
On June 9, 2020, the Federal Trade Commission issued a Civil Investigative Demand to Visa requesting additional documents and information.
Euronet Litigation
On December 13, 2019, Euronet 360 Finance Limited, Euronet Polska Spolka z.o.o. and Euronet Services spol. s.r.o. (“Euronet”) served a claim in the UK alleging that certain rules affecting ATM access fees in Poland, the Czech Republic and Greece by Visa Inc. and Mastercard Incorporated, and certain of their subsidiaries, breach various competition laws. Euronet seeks damages, costs, and injunctive relief to prevent the defendants from enforcing the aforementioned rules.
European Commission Staged Digital Wallets Investigation
On June 26, 2020, the European Commission (“EC”) informed Visa that it has opened a preliminary investigation into Visa’s rules regarding staged digital wallets and issued a request for information regarding such rules. Visa is cooperating with the EC.
v3.20.2
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Jun. 30, 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, 2019 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 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 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 the spread of 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 issued and adopted accounting pronouncements
Recently Issued and Adopted Accounting Pronouncements.
In February 2016, the FASB issued ASU 2016-02, which requires the recognition of lease assets and lease liabilities arising from operating leases on the balance sheet. Subsequently, the FASB also issued a series of amendments to this new leases standard that address the transition methods available and clarify the guidance for lessor costs and other aspects of the new leases standard. The Company adopted the standard effective October 1, 2019 using the modified retrospective transition method with comparative periods continuing to be reported using the prior leases standard. The Company elected to apply the package of practical expedients permitted under the transition guidance, allowing the Company to carry forward the historical assessment of whether a contract was or
contains a lease, lease classification and capitalization of initial direct costs. The adoption did not have a material impact on the consolidated financial statements.
In accordance with ASU 2016-02, the Company determines if an arrangement is a lease at its inception. Right-of-use (“ROU”) assets, and corresponding lease liabilities, are recognized at the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As a majority of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company does not record a ROU asset and corresponding liability for leases with terms of 12 months or less.
The Company does not include renewals in the determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. The Company does not combine lease payments with non-lease components for any of its leases. Operating leases are recorded as ROU assets, which are included in other assets. The current portion of lease liabilities are included in accrued liabilities and the long-term portion is included in other liabilities on the consolidated balance sheet. The Company’s lease cost consists of amounts recognized under lease agreements in the results of operations adjusted for impairment and sublease income.
In February 2018, the FASB issued ASU 2018-02, which allows a reclassification from accumulated other comprehensive income to retained earnings for adjustments to tax effects that were originally recorded in other comprehensive income due to changes in the U.S. federal corporate income tax rate resulting from the enactment of the U.S. tax reform legislation, commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Company adopted the ASU effective October 1, 2019. The adoption did not have a material impact on the consolidated financial statements.
In December 2019, the FASB issued ASU 2019-12, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in the existing guidance for income taxes and making other minor improvements. The amendments in the ASU are effective for the Company on October 1, 2021. The Company does not plan to early adopt the ASU at this time. The adoption is not expected to have a material impact on the consolidated financial statements.
In January 2020, the FASB issued ASU 2020-01, which clarifies that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the fair value measurement alternative. The amendments in the ASU are effective for the Company on October 1, 2021. The adoption is not expected to have a material impact on the consolidated financial statements.
In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate or another reference rate expected to be discontinued because of reference rate reform. The amendments in the ASU are effective for the Company upon issuance through December 31, 2022. The Company is evaluating the effect ASU 2020-04 will have on its consolidated financial statements.
v3.20.2
Revenues (Tables)
 9 Months Ended
Jun. 30, 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 and nine months ended June 30, 2020 and 2019:
Three Months Ended
June 30,		Nine Months Ended
June 30,
2020201920202019
(in millions)
Service revenues$2,409  $2,405  $7,587  $7,164  
Data processing revenues2,525  2,662  8,100  7,564  
International transaction revenues1,102  1,977  4,953  5,624  
Other revenues314  342  1,071  968  
Client incentives(1,513) (1,546) (4,966) (4,480) 
Net revenues $4,837  $5,840  $16,745  $16,840  

Three Months Ended
June 30,		Nine Months Ended
June 30,
2020201920202019
(in millions)
U.S.$2,380  $2,587  $7,747  $7,573  
International2,457  3,253  8,998  9,267  
Net revenues$4,837  $5,840  $16,745  $16,840  
v3.20.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Tables)
 9 Months Ended
Jun. 30, 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:
June 30,
2020		September 30,
2019
(in millions)
Cash and cash equivalents$13,898  $7,838  
Restricted cash and restricted cash equivalents:
U.S. litigation escrow1,148  1,205  
Customer collateral1,759  1,648  
Prepaid expenses and other current assets 129  141  
Cash, cash equivalents, restricted cash and restricted cash equivalents
$16,934  $10,832  
v3.20.2
U.S. and Europe Retrospective Responsibility Plan (Tables)
 9 Months Ended
Jun. 30, 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:
Nine Months Ended
June 30,
20202019
 (in millions)
Balance at beginning of period$1,205  $1,491  
Return of takedown payment to the litigation escrow account467  —  
Payments to class plaintiffs’ settlement fund(1)
—  (600) 
Payments to opt-out merchants(1) and interest earned on escrow funds
(524) 11  
Balance at end of period$1,148  $902  
(1)These payments are associated with the Interchange Multidistrict Litigation. See Note 14—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 equity during the nine months ended June 30, 2020.
Preferred StockRight to Recover for Covered Losses
UK&IEurope
(in millions)
Balance as of September 30, 2019$2,285  $3,177  $(171) 
VE territory covered losses incurred(1)
—  —  (22) 
Recovery through conversion rate adjustment(2)
(72) (92) 169  
Balance as of June 30, 2020$2,213  $3,085  $(24) 
(1)VE territory covered losses incurred reflect settlements with merchants and additional legal costs. See Note 14—Legal Matters.
(2)Adjustment to right to recover for covered losses for the conversion rate adjustment differs from the actual recovered amount due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustment.
Preferred Stock As-Converted Value and Book Value
The following table 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 June 30, 2020 and September 30, 2019:
June 30, 2020September 30, 2019
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$6,121  $2,213  $5,519  $2,285  
Europe preferred stock8,368  3,085  7,539  3,177  
Total14,489  5,298  13,058  5,462  
Less: right to recover for covered losses(24) (24) (171) (171) 
Total recovery for covered losses available$14,465  $5,274  $12,887  $5,291  
(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 June 30, 2020; (b) 12.775 and 13.722, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of June 30, 2020, respectively; and (c) $193.17, Visa’s class A common stock closing stock price as of June 30, 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, 2019; (b) 12.936 and 13.884, the class A common stock conversion rate applicable to the UK&I and Europe preferred stock as of September 30, 2019, respectively; and (c) $172.01, Visa’s class A common stock closing stock price as of September 30, 2019.
v3.20.2
Fair Value Measurements and Investments (Tables)
 9 Months Ended
Jun. 30, 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
 June 30,
2020		September 30,
2019		June 30,
2020		September 30,
2019
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$12,739  $6,494  
U.S. government-sponsored debt securities
$—  $150  
Investment securities:
Marketable equity securities
140  126  
U.S. government-sponsored debt securities
2,892  5,592  
U.S. Treasury securities
254  675  
Other current and non-current assets:
Derivative instruments
672  437  
Total $13,133  $7,295  $3,564  $6,179  
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$128  $113  
Accrued and other liabilities:
Derivative instruments
$247  $52  
Total $128  $113  $247  $52  
Equity Securities without Readily Determinable Fair Value The following table summarizes the total carrying value of the Company’s non-marketable equity securities held as of June 30, 2020 including cumulative unrealized gains and losses:
June 30, 2020
(in millions)
Initial cost basis$834  
Upward adjustments175  
Downward adjustments (including impairment)(11) 
Carrying amount, end of period$998  
Schedule of Gains and Losses on Marketable and Non-Marketable Equity Securities
Gains and losses on the Company’s equity securities are summarized below.
 Three Months Ended
June 30,		Nine Months Ended
June 30,
 2020201920202019
 (in millions)
Net gain (loss) on equity securities sold during the period$—  $1  $5  $16  
Unrealized gain (loss) on equity securities held as of the end of the period
68  10  59  69  
Total gain (loss) recognized in non-operating income (expense), net
$68  $11  $64  $85  
v3.20.2
Leases (Tables)
 9 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Schedule of Present Value of Future Minimum Lease Payments
At June 30, 2020, the present value of future minimum lease payments was as follows:
June 30, 2020
(in millions)
Remainder of 2020$29  
2021107  
2022100  
202393  
202480  
Thereafter226  
Total undiscounted lease payments635  
Less: imputed interest(52) 
Present value of lease liabilities$583  
v3.20.2
Debt (Tables)
 9 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
The Company had outstanding debt as follows:
June 30,
2020		September 30,
2019
Effective Interest Rate(1)
(in millions, except percentages)
2.20% Senior Notes due December 2020
$3,000  $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  —  2.02 %
2.75% Senior Notes due September 2027
750  750  2.91 %
2.05% Senior Notes due April 2030
1,500  —  2.13 %
4.15% Senior Notes due December 2035
1,500  1,500  4.23 %
2.70% Senior Notes due April 2040
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 %
Total debt
20,750  16,750  
Unamortized discounts and debt issuance costs
(134) (108) 
Hedge accounting fair value adjustments(2)
263  87  
Total carrying value of debt
$20,879  $16,729  
Reported as:
Current maturities of debt
$2,999  $—  
Long-term debt
17,880  16,729  
Total carrying value of debt
$20,879  $16,729  
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the change in fair value of interest rate swap agreements entered into on a portion of certain outstanding senior notes.
Schedule of Maturities of Long-term Debt
Future principal payments on the Company’s outstanding debt are as follows:
For the Years Ending September 30,
20202021202220232024ThereafterTotal
(in millions)
Future principal payments$—  $3,000  $1,000  $2,250  $—  $14,500  $20,750  
v3.20.2
Settlement Guarantee Management (Tables)
 9 Months Ended
Jun. 30, 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 June 30, 2020 and September 30, 2019, the Company held collateral as follows:
June 30,
2020		September 30,
2019
 (in millions)
Restricted cash and restricted cash equivalents$1,759  $1,648  
Pledged securities at market value281  259  
Letters of credit1,273  1,293  
Guarantees704  477  
Total$4,017  $3,677  
v3.20.2
Stockholders' Equity (Tables)
 9 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]  
Schedule of Stock by Class
As-converted class A common stock. The following table presents the number of shares of each series and class of stock and the number of shares of class A common stock on an as-converted basis:
June 30, 2020September 30, 2019
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)
UK&I preferred stock2  12.7750  32  2  12.9360  32  
Europe preferred stock3  13.7220  43  3  13.8840  44  
Class A common stock(2)
1,687  —1,687  1,718  —  1,718  
Class B common stock245  1.6228  
(3)
398  245  1.6228  
(3)
398  
Class C common stock11  4.0000  43  11  4.0000  45  
Total2,203  2,237  
(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)Class A common stock shares outstanding reflect repurchases that settled on or before June 30, 2020 and September 30, 2019.
(3)The class B to class A common stock conversion rate is presented on a rounded basis. Conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal.
Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock
The following table presents the reduction in equivalent number of as-converted shares of class A common stock, effective price per share and recovery of VE territory covered losses through conversion rate adjustments:
Nine Months Ended
June 30, 2020		Nine Months Ended
June 30, 2019
UK&IEuropeUK&IEurope
(in millions, except per share data)
Reduction in equivalent number of as-converted class A common stock
—  
(1)
1—  
(1)
—  
(1)
Effective price per share(2)
$180.00  $180.00  $141.32  $150.26  
Recovery through conversion rate adjustment
$72  $92  $6  $2  
(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
June 30,		Nine Months Ended
June 30,
2020201920202019
(in millions, except per share data)
Shares repurchased in the open market(1)
6  13  37  44  
Average repurchase price per share(2)
$177.86  $162.97  $179.91  $147.66  
Total cost(2)
$1,069  $2,149  $6,572  $6,480  
(1)Shares repurchased in the open market reflect repurchases that settled during the three and nine months ended June 30, 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.
v3.20.2
Earnings Per Share (Tables)
 9 Months Ended
Jun. 30, 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 June 30, 2020:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$1,814  1,690  $1.07  $2,373  2,214  
(3)
$1.07  
Class B common stock428  245  $1.74  $427  245  $1.74  
Class C common stock46  11  $4.29  $47  11  $4.29  
Participating securities(4)
85  Not presentedNot presented$85  Not presentedNot presented
Net income$2,373  
The following table presents earnings per share for the nine months ended June 30, 2020:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$6,679  1,702  $3.92  $8,729  2,227  
(3)
$3.92  
Class B common stock1,564  245  $6.37  $1,561  245  $6.36  
Class C common stock172  11  $15.70  $172  11  $15.68  
Participating securities(4)
314  Not presentedNot presented$314  Not presentedNot presented
Net income$8,729  
The following table presents earnings per share for the three months ended June 30, 2019:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$2,379  1,735  $1.37  $3,101  2,265  
(3)
$1.37  
Class B common stock549  245  $2.23  $548  245  $2.23  
Class C common stock63  12  $5.48  $63  12  $5.48  
Participating securities(4)
110  Not presentedNot presented$110  Not presentedNot presented
Net income$3,101  
The following table presents earnings per share for the nine months ended June 30, 2019:
 Basic Earnings Per ShareDiluted Earnings Per Share
 (in millions, except per share data)
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)
Class A common stock$6,956  1,748  $3.98  $9,055  2,278  
(3)
$3.97  
Class B common stock1,592  245  $6.49  $1,590  245  $6.48  
Class C common stock186  12  $15.92  $185  12  $15.90  
Participating securities(4)
321  Not presentedNot presented$321  Not presentedNot presented
Net income$9,055  
(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 and nine months ended June 30, 2020 and 400 million for the three and nine months ended June 30, 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 and nine months ended June 30, 2020, respectively, and 46 million and 47 million for the three and nine months ended June 30, 2019, respectively. The weighted-average number of shares of preferred stock included within participating securities was 32 million of as-converted UK&I preferred stock for the three and nine months ended June 30, 2020 and 2019, and 44 million of as-converted Europe preferred stock for the three and nine months ended June 30, 2020 and 2019.
(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 and nine months ended June 30, 2020 and 2019, because their effect would have been dilutive. The computation excludes common stock equivalents of 1 million for the three and nine months ended June 30, 2020, and less than 1 million for the three and nine months ended June 30, 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 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.
v3.20.2
Share-based Compensation (Tables)
 9 Months Ended
Jun. 30, 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 nine months ended June 30, 2020:
GrantedWeighted-Average
Grant Date Fair
Value		Weighted-Average
Exercise Price
Non-qualified stock options1,247,982  $29.37  $182.50  
Restricted stock units2,287,483  $183.22  
Performance-based shares(1)
470,128  $211.08  
(1)Represents the maximum number of performance-based shares which could be earned.
v3.20.2
Legal Matters (Tables)
 9 Months Ended
Jun. 30, 2020
Legal Matters [Abstract]  
Schedule of Loss Contingencies by Contingency
The following table summarizes the activity related to accrued litigation:
 Nine Months Ended
June 30,
 20202019
 (in millions)
Balance at beginning of period$1,203  $1,434  
Provision for uncovered legal matters7  37  
Provision for covered legal matters14  165  
Reestablishment of prior accrual related to interchange multidistrict litigation467  —  
Payments for legal matters(535) (780) 
Balance at end of period$1,156  $856  
The following table summarizes the accrual activity related to U.S. covered litigation:
 Nine Months Ended
June 30,
 20202019
 (in millions)
Balance at beginning of period$1,198  $1,428  
Reestablishment of prior accrual related to interchange multidistrict litigation467  —  
Payments for U.S. covered litigation(529) (600) 
Balance at end of period$1,136  $828  
The following table summarizes the accrual activity related to VE territory covered litigation:
 Nine Months Ended
June 30,
 20202019
(in millions)
Balance at beginning of period$5  $—  
Provision for VE territory covered litigation14  165  
Payments for VE territory covered litigation(5) (156) 
Balance at end of period$14  $9  
v3.20.2
Summary of Significant Accounting Policies (Details)
Jun. 30, 2020
country
Accounting Policies [Abstract]  
Number of countries in which entity operates (more than) 200
v3.20.2
Acquisitions (Details) - Plaid, Inc.
$ in Billions
Jan. 13, 2020
USD ($)
Business Acquisition [Line Items]  
Total consideration $ 5.3
Total consideration, cash 4.9
Total consideration, restricted stock units and stock options $ 0.4
v3.20.2
Revenues (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Disaggregation of Revenue [Line Items]        
Net revenues $ 4,837 $ 5,840 $ 16,745 $ 16,840
U.S.        
Disaggregation of Revenue [Line Items]        
Net revenues 2,380 2,587 7,747 7,573
International        
Disaggregation of Revenue [Line Items]        
Net revenues 2,457 3,253 8,998 9,267
Service revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 2,409 2,405 7,587 7,164
Data processing revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 2,525 2,662 8,100 7,564
International transaction revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 1,102 1,977 4,953 5,624
Other revenues        
Disaggregation of Revenue [Line Items]        
Net revenues 314 342 1,071 968
Client incentives        
Disaggregation of Revenue [Line Items]        
Net revenues $ (1,513) $ (1,546) $ (4,966) $ (4,480)
v3.20.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Sep. 30, 2019
Jun. 30, 2019
Sep. 30, 2018
Restricted Cash and Cash Equivalents Items [Line Items]        
Cash and cash equivalents $ 13,898 $ 7,838    
Cash, cash equivalents, restricted cash and restricted cash equivalents 16,934 10,832 $ 10,669 $ 10,977
U.S. litigation escrow        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents 1,148 1,205    
Customer collateral        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents 1,759 1,648    
Prepaid expenses and other current assets        
Restricted Cash and Cash Equivalents Items [Line Items]        
Restricted cash and restricted cash equivalents $ 129 $ 141    
v3.20.2
U.S. and Europe Retrospective Responsibility Plan - Additional Details (Details)
€ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Dec. 27, 2019
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2020
EUR (€)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Sep. 30, 2019
Class of Stock [Line Items]              
Return of takedown payment to the litigation escrow account $ 467       $ 467 $ 0  
VE covered loss, maximum amount of loss to allow adjustment of conversion rate during six-month period | €     € 20        
Recovery through conversion rate adjustment   $ 5   $ 0 5    
UK&I preferred stock              
Class of Stock [Line Items]              
Recovery through conversion rate adjustment         $ 72 6  
Preferred stock, conversion rate   12.775 12.775   12.775   12.936
Europe preferred stock              
Class of Stock [Line Items]              
Recovery through conversion rate adjustment         $ 92 2  
Preferred stock, conversion rate   13.722 13.722   13.722   13.884
Right to Recover for Covered Losses              
Class of Stock [Line Items]              
Recovery through conversion rate adjustment   $ 169   $ 2 $ 169 $ 8  
v3.20.2
U.S. and Europe Retrospective Responsibility Plan - Changes in the U.S. Litigation Escrow Account (Detail) - USD ($)
$ in Millions
 9 Months Ended
Dec. 27, 2019
Jun. 30, 2020
Jun. 30, 2019
Escrow Account [Roll Forward]      
Beginning balance   $ 1,205 $ 1,491
Return of takedown payment to the litigation escrow account $ 467 467 0
Payments to class plaintiffs’ settlement fund   0 (600)
Ending balance   1,148 902
Interest Income | Opt-out Merchants      
Escrow Account [Roll Forward]      
Payments to opt-out merchants and interest earned on escrow funds   $ (524) $ 11
v3.20.2
U.S. and Europe Retrospective Responsibility Plan - Changes in Preferred Stock and Right to Recover Covered Losses (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
USD ($)
$ / shares
shares
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
$ / shares
shares
Jun. 30, 2019
USD ($)
Sep. 30, 2019
USD ($)
$ / shares
shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Beginning balance $ 34,585 $ 34,275 $ 34,684 $ 34,006  
VE territory covered losses incurred (9) (8) (22) (170)  
Recovery through conversion rate adjustment 5 0 5    
Ending balance 35,524 34,995 35,524 34,995  
Preferred Stock, As-Converted Value 14,489   14,489   $ 13,058
Preferred Stock Available to Recover Covered Losses, Value 5,298   5,298   5,462
Less: right to recover for covered losses (24)   (24)   (171)
Preferred Stock, As-Converted Value, Total Recovery for Covered Losses Available 14,465   14,465   12,887
Preferred Stock, Book Value, Total Recovery for Covered Losses Available $ 5,274   $ 5,274   $ 5,291
Share price (in dollars per share) | $ / shares $ 193.17   $ 193.17   $ 172.01
Preferred Stock          
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Beginning balance $ 5,462 5,464 $ 5,462 5,470  
Recovery through conversion rate adjustment (164) (2) (164) (8)  
Ending balance 5,298 5,462 5,298 5,462  
Right to Recover for Covered Losses          
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Beginning balance (184) (163) (171) (7)  
VE territory covered losses incurred (9) (8) (22) (170)  
Recovery through conversion rate adjustment 169 2 169 8  
Ending balance (24) $ (169) (24) (169)  
UK&I preferred stock          
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Recovery through conversion rate adjustment     72 6  
Preferred Stock, As-Converted Value 6,121   6,121   $ 5,519
Preferred Stock, Book Value $ 2,213   $ 2,213   $ 2,285
Preferred stock, shares outstanding (in shares) | shares 2,000,000   2,000,000   2,000,000
Preferred stock, conversion rate 12.775   12.775   12.936
UK&I preferred stock | Preferred Stock          
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Beginning balance     $ 2,285    
VE territory covered losses incurred     0    
Recovery through conversion rate adjustment     72    
Ending balance $ 2,213   2,213    
Europe preferred stock          
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Recovery through conversion rate adjustment     92 $ 2  
Preferred Stock, As-Converted Value 8,368   8,368   $ 7,539
Preferred Stock, Book Value $ 3,085   $ 3,085   $ 3,177
Preferred stock, shares outstanding (in shares) | shares 3,000,000   3,000,000   3,000,000
Preferred stock, conversion rate 13.722   13.722   13.884
Europe preferred stock | Preferred Stock          
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Beginning balance     $ 3,177    
VE territory covered losses incurred     0    
Recovery through conversion rate adjustment     92    
Ending balance $ 3,085   $ 3,085    
v3.20.2
Fair Value Measurements and Investments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Sep. 30, 2019
Assets    
U.S. securities $ 3,100 $ 6,300
Level 1 | Fair Value, Measurements, Recurring    
Assets    
Marketable equity securities 140 126
Total 13,133 7,295
Liabilities    
Deferred compensation liability 128 113
Total 128 113
Level 1 | U.S. Treasury securities | Fair Value, Measurements, Recurring    
Assets    
U.S. securities 254 675
Level 2 | Fair Value, Measurements, Recurring    
Assets    
Derivative instruments 672 437
Total 3,564 6,179
Liabilities    
Derivative instruments 247 52
Total 247 52
Level 2 | U.S. government-sponsored debt securities | Fair Value, Measurements, Recurring    
Assets    
U.S. securities 2,892 5,592
Money market funds | Level 1 | Fair Value, Measurements, Recurring    
Assets    
Cash equivalents and restricted cash equivalents: 12,739 6,494
U.S. government-sponsored debt securities | Level 2 | Fair Value, Measurements, Recurring    
Assets    
Cash equivalents and restricted cash equivalents: $ 0 $ 150
v3.20.2
Fair Value Measurements and Investments - Additional Information (Detail) - USD ($)
 3 Months Ended 9 Months Ended
Feb. 01, 2020
Jun. 30, 2020
Jun. 30, 2020
Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Transfers between Level 1 and Level 2 assets   $ 0 $ 0  
U.S. securities   3,100,000,000 3,100,000,000 $ 6,300,000,000
Upward adjustments   56,000,000 65,000,000  
Downward adjustments   0 0  
Impairment charges of non-marketable equity securities   6,000,000 6,000,000  
Impairment of indefinite-lived intangible assets and goodwill $ 0      
Carrying value of long-term debt   $ 20,879,000,000 $ 20,879,000,000 16,729,000,000
Minimum        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Available-for-sale investment securities, stated maturities   1 year 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 5 years  
Senior Notes        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Carrying value of long-term debt   $ 20,900,000,000 $ 20,900,000,000 16,700,000,000
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   $ 23,400,000,000 $ 23,400,000,000 $ 18,400,000,000
v3.20.2
Fair Value Measurements and Investments - Schedule of Non-Marketable Equity Securities (Details)
$ in Millions
Jun. 30, 2020
USD ($)
Fair Value Disclosures [Abstract]  
Initial cost basis $ 834
Upward adjustments 175
Downward adjustments (including impairment) (11)
Carrying amount, end of period $ 998
v3.20.2
Fair Value Measurements and Investments - Schedule of Gains and Losses on Marketable and Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Fair Value Disclosures [Abstract]        
Net gain (loss) on equity securities sold during the period $ 0 $ 1 $ 5 $ 16
Unrealized gain (loss) on equity securities held as of the end of the period 68 10 59 69
Total gain (loss) recognized in non-operating income (expense), net $ 68 $ 11 $ 64 $ 85
v3.20.2
Leases - Additional Information (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
option_to_renew
Lessee, Lease, Description [Line Items]    
Operating lease cost $ 29 $ 84
Weighted average remaining lease term (in years) 7 years 7 years
Weighted average discount rate 2.28% 2.28%
Operating leases, not yet commenced, lease obligations $ 465 $ 465
Minimum    
Lessee, Lease, Description [Line Items]    
Number of renewal options | option_to_renew   1
Operating leases, non-cancellable lease terms 1 year 1 year
Maximum    
Lessee, Lease, Description [Line Items]    
Operating leases, non-cancellable lease terms 15 years 15 years
v3.20.2
Leases - Schedule of Present Value of Future Minimum Lease Payments (Details)
$ in Millions
Jun. 30, 2020
USD ($)
Leases [Abstract]  
Remainder of 2020 $ 29
2021 107
2022 100
2023 93
2024 80
Thereafter 226
Total undiscounted lease payments 635
Less: imputed interest (52)
Present value of lease liabilities $ 583
v3.20.2
Debt - Summary of Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Apr. 30, 2020
Sep. 30, 2019
Debt Instrument [Line Items]      
Total debt $ 20,750    
Unamortized discounts and debt issuance costs (134)   $ (108)
Hedge accounting fair value adjustments 263   87
Total carrying value of debt 20,879   16,729
Current maturities of debt 2,999   0
Long-term debt 17,880   16,729
Senior Notes      
Debt Instrument [Line Items]      
Total debt 20,750   16,750
Total carrying value of debt 20,900   16,700
Senior Notes | 2.20% Senior Notes due December 2020      
Debt Instrument [Line Items]      
Total debt $ 3,000   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   0
Effective interest rate (percent) 2.02%    
Stated interest rate (percent) 1.90% 1.90%  
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   0
Effective interest rate (percent) 2.13%    
Stated interest rate (percent) 2.05%    
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   0
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%    
v3.20.2
Debt - Narrative (Details) - USD ($)
 1 Months Ended 3 Months Ended 9 Months Ended
Apr. 30, 2020
Jun. 30, 2020
Jun. 30, 2020
Jun. 30, 2019
Sep. 30, 2019
Debt Instrument [Line Items]          
Commercial paper program, outstanding obligations   $ 0 $ 0   $ 0
Proceeds from issuance of senior notes (Note 8)     3,985,000,000 $ 0  
Commercial Paper          
Debt Instrument [Line Items]          
Commercial paper program, amount available   3,000,000,000.0 $ 3,000,000,000.0    
Credit agreement term     397 days    
Repayments of commercial paper   $ 1,000,000,000.0      
Senior Notes | 2020 Notes          
Debt Instrument [Line Items]          
Proceeds from issuance of senior notes (Note 8) $ 4,000,000,000.0        
Stated interest rate (percent)   2.20% 2.20%    
Senior Notes | 1.90% Senior Notes due April 2027          
Debt Instrument [Line Items]          
Stated interest rate (percent) 1.90% 1.90% 1.90%    
Senior Notes | 2030 Notes          
Debt Instrument [Line Items]          
Stated interest rate (percent) 2.05%        
Senior Notes | 2040 Notes          
Debt Instrument [Line Items]          
Stated interest rate (percent) 2.70%        
Senior Notes | Minimum | 2020 Notes          
Debt Instrument [Line Items]          
Credit agreement term 7 years        
Senior Notes | Maximum | 2020 Notes          
Debt Instrument [Line Items]          
Credit agreement term 20 years        
v3.20.2
Debt - Schedule of Future Principal Payments of Outstanding Debt (Details)
$ in Millions
Jun. 30, 2020
USD ($)
Debt Disclosure [Abstract]  
2020 $ 0
2021 3,000
2022 1,000
2023 2,250
2024 0
Thereafter 14,500
Total $ 20,750
v3.20.2
Settlement Guarantee Management - Additional Information (Details)
$ in Billions
 9 Months Ended
Jun. 30, 2020
USD ($)
Settlement Guarantee Management [Abstract]  
Maximum Settlement Exposure $ 97.3
Average Daily Settlement Exposure $ 54.4
v3.20.2
Settlement Guarantee Management - Collateral (Detail) - USD ($)
$ in Millions
Jun. 30, 2020
Sep. 30, 2019
Settlement Guarantee Management [Abstract]    
Restricted cash and restricted cash equivalents $ 1,759 $ 1,648
Pledged securities at market value 281 259
Letters of credit 1,273 1,293
Guarantees 704 477
Total $ 4,017 $ 3,677
v3.20.2
Stockholders' Equity - Number of Shares of Class A Common Shares Outstanding on an As-Converted Basis (Detail)
Jun. 30, 2020
shares
Sep. 30, 2019
shares
Schedule of Common Stock as Converted [Line Items]    
As-converted Class A Common Stock (in shares) 2,203,000,000 2,237,000,000
U.K.& I preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 2,000,000 2,000,000
Preferred stock, conversion rate into Class A Common Stock 12.775 12.936
As-converted Class A Common Stock (in shares) 32,000,000 32,000,000
Europe preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 3,000,000 3,000,000
Preferred stock, conversion rate into Class A Common Stock 13.722 13.884
As-converted Class A Common Stock (in shares) 43,000,000 44,000,000
Class A common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 1,687,000,000 1,718,000,000
As-converted Class A Common Stock (in shares) 1,687,000,000 1,718,000,000
Class B common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 245,000,000 245,000,000
Common stock, conversion rate into Class A Common Stock 1.6228 1.6228
As-converted Class A Common Stock (in shares) 398,000,000 398,000,000
Class C common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 11,000,000 11,000,000
Common stock, conversion rate into Class A Common Stock 4.0000 4.0000
As-converted Class A Common Stock (in shares) 43,000,000 45,000,000
v3.20.2
Stockholders' Equity - Effect of VE Territory Covered Losses Through Coversion Rate Adjustments (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Conversion of Stock [Line Items]        
Recovery through conversion rate adjustment $ 5 $ 0 $ 5  
UK&I preferred stock        
Conversion of Stock [Line Items]        
Reduction in equivalent number of as-converted shares of class A common stock (in shares)     0 0
Effective price per share (in dollars per share)     $ 180.00 $ 141.32
Recovery through conversion rate adjustment     $ 72 $ 6
Europe preferred stock        
Conversion of Stock [Line Items]        
Reduction in equivalent number of as-converted shares of class A common stock (in shares)     1 0
Effective price per share (in dollars per share)     $ 180.00 $ 150.26
Recovery through conversion rate adjustment     $ 92 $ 2
v3.20.2
Stockholders' Equity - Share Repurchases in the Open Market (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Equity, Class of Treasury Stock [Line Items]        
Total cost $ 1,069 $ 2,149 $ 6,572 $ 6,480
Class A common stock        
Equity, Class of Treasury Stock [Line Items]        
Shares repurchased in the open market (in shares) 6 13 37 44
Average repurchase price per share (in dollars per share) $ 177.86 $ 162.97 $ 179.91 $ 147.66
Total cost $ 1,069 $ 2,149 $ 6,572 $ 6,480
v3.20.2
Stockholders' Equity - Additional Information (Detail) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Jul. 20, 2020
Jan. 31, 2020
Jan. 31, 2019
Stockholders Equity Note [Line Items]              
Share repurchase program           $ 9,500 $ 8,500
January 2020 share repurchase program remaining authorized funds $ 7,000   $ 7,000        
Cash dividends declared and paid, at a quarterly amount per Class A share $ 663 $ 565 $ 2,002 $ 1,706      
Subsequent Event | Class A common stock              
Stockholders Equity Note [Line Items]              
Quarterly cash dividend (in dollars per share)         $ 0.30    
v3.20.2
Earnings Per Share - Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Net income $ 2,373 $ 3,101 $ 8,729 $ 9,055
Class A common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 1,814 $ 2,379 $ 6,679 $ 6,956
Weighted- Average Shares Outstanding - Basic (in shares) 1,690 1,735 1,702 1,748
Earnings per Share - Basic (in dollars per share) $ 1.07 $ 1.37 $ 3.92 $ 3.98
Income Allocation - Diluted $ 2,373 $ 3,101 $ 8,729 $ 9,055
Weighted- Average Shares Outstanding - Diluted (in shares) 2,214 2,265 2,227 2,278
Earnings per Share - Diluted (in dollars per share) $ 1.07 $ 1.37 $ 3.92 $ 3.97
Class B common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 428 $ 549 $ 1,564 $ 1,592
Weighted- Average Shares Outstanding - Basic (in shares) 245 245 245 245
Earnings per Share - Basic (in dollars per share) $ 1.74 $ 2.23 $ 6.37 $ 6.49
Income Allocation - Diluted $ 427 $ 548 $ 1,561 $ 1,590
Weighted- Average Shares Outstanding - Diluted (in shares) 245 245 245 245
Earnings per Share - Diluted (in dollars per share) $ 1.74 $ 2.23 $ 6.36 $ 6.48
Class C common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 46 $ 63 $ 172 $ 186
Weighted- Average Shares Outstanding - Basic (in shares) 11 12 11 12
Earnings per Share - Basic (in dollars per share) $ 4.29 $ 5.48 $ 15.70 $ 15.92
Income Allocation - Diluted $ 47 $ 63 $ 172 $ 185
Weighted- Average Shares Outstanding - Diluted (in shares) 11 12 11 12
Earnings per Share - Diluted (in dollars per share) $ 4.29 $ 5.48 $ 15.68 $ 15.90
Participating securities        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]        
Income Allocation - Basic $ 85 $ 110 $ 314 $ 321
Income Allocation - Diluted $ 85 $ 110 $ 314 $ 321
v3.20.2
Earnings Per Share - Additional Information (Detail) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 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 3 3
Antidilutive securities excluded from computation of earnings per share (in shares) 1 1 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) 398 400 398 400
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 46 44 47
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) 32 32 32 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) 44 44 44 44
v3.20.2
Share-based Compensation - Awards Granted to Company Employees and Non-employee Directors Under the 2007 Equity Incentive Compensation Plan (Detail) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Non-qualified stock options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Granted (in shares)     1,247,982  
Weighted-Average Grant Date Fair Value (in dollars per share)     $ 29.37  
Weighted-Average Exercise Price (in USD per share)     $ 182.50  
Restricted stock units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Granted (in shares)     2,287,483  
Weighted-Average Grant Date Fair Value (in dollars per share)     $ 183.22  
Performance-bases shares        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Granted (in shares)     470,128  
Weighted-Average Grant Date Fair Value (in dollars per share)     $ 211.08  
Equity Incentive Compensation Plan, 2007        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation cost $ 102 $ 106 $ 306 $ 307
v3.20.2
Income Taxes - Additional Information (Detail) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Tax Disclosure [Abstract]        
Effective income tax rate reconciliation, percent 19.00% 20.00% 19.00% 19.00%
Increase in unrecognized tax benefits $ 55   $ 230  
Unrecognized tax benefits that would favorably impact effective tax rate 31   70  
Increase in accrued interest related to uncertain tax positions $ 18 $ 19 $ 56 $ 51
v3.20.2
Legal Matters - Schedule of Accrued Litigation for Both Covered and Non-Covered Litigation (Detail) - USD ($)
$ in Millions
 9 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Sep. 30, 2019
Loss Contingency Accrual [Roll Forward]      
Balance at beginning of period $ 1,203 $ 1,434 $ 1,434
Provision for legal matters 14 165  
Balance at end of period 1,156 856 1,203
U.S. Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Balance at beginning of period 1,198 1,428 1,428
Balance at end of period 1,136 828 1,198
VE Territory Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Balance at beginning of period 5 0 0
Provision for legal matters 14 165  
Balance at end of period 14 9 $ 5
Interchange Multidistrict Litigation      
Loss Contingency Accrual [Roll Forward]      
Provision for legal matters 467 0  
Interchange Multidistrict Litigation | U.S. Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Provision for legal matters 467 0  
Unsettled      
Loss Contingency Accrual [Roll Forward]      
Provision for legal matters 7 37  
Settled Litigation      
Loss Contingency Accrual [Roll Forward]      
Payments for legal matters (535) (780)  
Settled Litigation | U.S. Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Payments for legal matters (529) (600)  
Settled Litigation | VE Territory Covered Litigation      
Loss Contingency Accrual [Roll Forward]      
Payments for legal matters $ (5) $ (156)  
v3.20.2
Legal Matters - Additional Information (Details)
$ in Millions
 9 Months Ended 12 Months Ended 85 Months Ended
May 29, 2020
state
Dec. 27, 2019
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Sep. 30, 2019
USD ($)
Jul. 30, 2020
merchant
Loss Contingencies [Line Items]            
Provision for legal matters     $ 14 $ 165    
Return of takedown payment to the litigation escrow account   $ 467 467 0    
Number of states | state 24          
Interchange Multidistrict Litigation            
Loss Contingencies [Line Items]            
Provision for legal matters     $ 467 $ 0    
Subsequent Event | Interchange Multidistrict Litigation            
Loss Contingencies [Line Items]            
Settlement percentage           30.00%
Subsequent Event | U.K. Merchant Litigation            
Loss Contingencies [Line Items]            
Number of plaintiffs | merchant           500
Number of claims settled | merchant           100
Merchants with outstanding claims | merchant           400
Subsequent Event | U.K. Merchant Litigation | Threatened Litigation            
Loss Contingencies [Line Items]            
Number of plaintiffs | merchant           30
Visa, MasterCard, and Certain U.S. Financial Institutions            
Loss Contingencies [Line Items]            
Maximum takedown payments the defendants are entitled to         $ 700  
U.S. Covered Litigation            
Loss Contingencies [Line Items]            
Maximum takedown payments the defendants are entitled to         467  
U.S. Covered Litigation | Interchange Multidistrict Litigation            
Loss Contingencies [Line Items]            
Provision for legal matters         $ 600  
Return of takedown payment to the litigation escrow account   $ 467