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Visa to Dole Out Annual Raises Earlier Amid Inflation Pressures

  • Payments volume, revenue and profit all jump in recent quarter
  • CEO Al Kelly says no sign of pullback in spending by consumers
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Consumer Spending 'Remarkably Stable,' Visa CFO Says
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Visa Inc. said it will dole out annual raises for more-junior employees earlier as it seeks to help staffers battling once-in-a-generation levels of inflation. 

The payments giant will award the pay increases to employees at the level of senior vice president and below during its fiscal fourth quarter, which ends Sept. 30, Chief Financial Officer Vasant Prabhu told analysts Tuesday on a conference call. The move will cause personnel costs to climb and will likely add three percentage points of growth to operating expenses during the quarter, he said.