Visa Inc (V) is a global payment system that provides its clients with access to fast, secure and reliable electronic funds transfer system. Its revenue consists of commission payments charged from customers. Visa holds a portfolio of the following brands: Visa, Visa Electron, PLUS and Interlink.The company recently released a strong financial report for 4Q FY15. According to the report, revenue rose 10.6% y-o-y to USD 3.57 bn. Revenue increased 13% taking into account devaluation effects. Adjusted EPS was up 14.8% y-o-y to USD 0.62. All segments reported growth, however, international segment became growth locomotive (+16% y-o-y).Visa generates a significant cash flow, allowing it to pay generous dividends and buy back shares. The company recently raised quarterly dividend by 17% q-o-q to 14 cents, yielding 0.7%. Visa continues to buy back shares, the company spent USD 2.9 bn for buyback over the year. Visa announced a new buyback program totaling USD 5 bn. The company consolidates its business. Visa recently announced acquisition of its subsidiary Visa Europe for USD 23 bn. This acquisition is to reduce costs and optimize business. I believe that the company will continue to improve its financial performance, which coupled with higher dividend and updated buyback program will boost the company’s share price in the mid-term. I raised my fundamental valuation of Visa shares to USD 85. The short-term technical target is USD 83.