Visa Inc. (V)

Financials

Business overview

Visa processes electronic payments between banks, merchants and consumers. It earns fees from payment volumes, transaction processing, cross-border activity and related services.

Revenue mix · For the fiscal year ended 30 September 2025

Service revenue: 43.8%
Data processing revenue: 50.0%
International transaction revenue: 35.4%
Other revenue: 10.1%
Client incentives: -39.4%

Suppliers, customers & competitors

Key suppliers

In certain countries, clients and third-party service providers process Visa transactions where Visa does not manage the full processing chain.

Customers and buyers

Issuing banks offer Visa payment cards to account holders; acquiring institutions connect sellers to payment acceptance. These clients use Visa’s authorization, clearing and settlement network.
Acquirers, payment providers, software vendors and merchants use acceptance tools, fraud prevention and related services. Digital wallets can carry Visa payments while also supporting alternative networks.
Visa acquired Prisma and Newpay in Argentina in February 2026, adding issuer processing, real-time payments, an ATM network and bill-payment services.

Competitors by business area

Business area	Main competitors
Payment networks	Mastercard competes in general-purpose card payment networks, providing an alternative for issuing banks, merchants and cardholders. American Express competes through its branded payment network and card products used at merchants worldwide. Discover, owned by Capital One, competes in card payment networks, particularly in the U.S. JCB competes in branded card payment networks, with a particularly strong position in Japan. UnionPay competes in card payment networks, including its leading position in China.
Account-to-account payments	FedNow, Brazil’s Pix and India’s UPI provide alternatives for domestic account-to-account payments; links between real-time networks also compete in cross-border transfers.

Business area

Main competitors

Payment networks

Mastercard competes in general-purpose card payment networks, providing an alternative for issuing banks, merchants and cardholders.
American Express competes through its branded payment network and card products used at merchants worldwide.
Discover, owned by Capital One, competes in card payment networks, particularly in the U.S.
JCB competes in branded card payment networks, with a particularly strong position in Japan.
UnionPay competes in card payment networks, including its leading position in China.

Account-to-account payments

FedNow, Brazil’s Pix and India’s UPI provide alternatives for domestic account-to-account payments; links between real-time networks also compete in cross-border transfers.

Reviewed 16 October 2026. Sources: VISA INC. 10-K, year ended 2025-09-30 (2025-11-06) · VISA INC. 10-Q, filed 2026-07-29 (2026-07-29)

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