Visa
Q4 2022 Earnings Call
Oct 25, 2022, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to Visa's fiscal fourth quarter and full year 2022 earnings conference call. All participants are in a listen-only mode until the question-and-answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time.
I would now like to turn the call over to your host, Ms. Jennifer Como, senior vice president and global head of investor relations. Ms. Como, you may begin.
Jennifer Como -- Senior Vice President and Global Head of Investor Relations
Thanks, Holly. Good afternoon, everyone, and welcome to Visa's fiscal fourth quarter and full year 2022 earnings call. Joining us today are Al Kelly, Visa's chairman and chief executive officer; and Vasant Prabhu, Visa's vice chair and chief financial officer. This call is being webcast on the investor relations section of our website at www.investor.visa.com.
A replay will be archived on our site for 30 days. A slide deck containing financial and statistical highlights has been posted on our IR website. Let me also remind you that this presentation includes forward-looking statements. These statements are not guarantees of future performance, and our actual results could differ materially as the result of many factors.
Additional information concerning those factors is available in our most recent reports on Forms 10-K and 10-Q, which you can find on the SEC's website and the investor relations section of our website. For non-GAAP financial information disclosed in this call, the related GAAP measures and reconciliation are available in today's earnings release. And with that, let me turn the call over to Al.
Al Kelly -- Chairman and Chief Executive Officer
Jennifer, thank you, and good afternoon, everybody, and thank you for joining us. Visa's performance in 2022 was very strong even with the uncertainty created by inflation, the war in Ukraine, COVID, the timing of cross-border travel recovery, and a potential recession. On a full year basis, credentials increased 9% year over year and are up 13%, excluding Russia. We crossed 4.8 billion tokens surpassing the number of card credentials and almost doubling from last year.
Merchant locations, including locations from payment facilitators, grew 11%. Global tap to pay penetration grew 10% -- 10 points to 54% of face-to-face transactions, excluding Russia, and this was helped by 20 additional countries crossing over the 50% penetration mark. Excluding the U.S. and Russia, global tap to pay penetration was 71%.