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Client incentives are what Visa pays out to their issuing bank partners to increase its total payments volume (TPV), and when a partner renews, Visa's TPV goes up. In October, Visa said about 15-20% of its TPV is slated to be renewed in the first half of 2020. Visa has been spending more on rewards and perks such as airport lounge access, roadside assistance programs and travel insurance which pushed operating expenses up by 14% to $2.04 billion in the first quarter.
from Yahoo Finance https://ift.tt/2te5Eaz
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