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Visa
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Latest analysis
Updated Jul 29, 2026
Visa Q3 FY2026: 14% net revenue growth to $11.6B driven by cross-border acceleration and value-added services surging 33%
Value-added services revenue reached $3.8 billion in Q3 FY2026, up 33% year-over-year, now representing the fastest-growing revenue line and signaling successful monetization of the platform beyond core transaction processing. Cross-border volume growth of 14% (excluding intra-Europe) outpaced domestic payments volume growth of 8% on a constant-dollar basis, confirming international travel and ecommerce as the primary volume engine. The $563 million in severance costs booked in Q3 alone signals a material workforce restructuring underway to fund reinvestment in high-growth areas, a structural cost shift that will pressure GAAP margins short-term but is largely excluded from non-GAAP reporting.
Tone: bullishRevenue
$40B
V 10-K · FY 2025
Employees
34,100
Revenue growth YoY
+11%
Founded
1958
Profile
V 10-K Item 1 · Nov 6, 2025Visa is a global payments technology company that operates VisaNet, one of the world's largest transaction processing networks, connecting consumers, financial institutions, and merchants across more than 200 countries and territories. The company earns revenue through service, data processing, international transaction, and other fees — but does not issue cards, extend credit, or bear credit risk. Its growth strategy is organized around three pillars: consumer payments, commercial and money movement solutions, and value-added services.
Read filing description ↓ Collapse description ↑
Visa is one of the world's leaders in digital payments. Our purpose is to uplift everyone, everywhere by being the best way to pay and be paid. Since Visa's early days in 1958, we have been in the business of facilitating secure, reliable and efficient global commerce and money movement. We provide transaction processing services (primarily authorization, clearing and settlement) among consumers, issuing and acquiring financial institutions and sellers in a structure we call the 'four-party' model. As the payments ecosystem continues to evolve, we have broadened this model to include digital banks, digital wallets, a range of financial technology companies (fintechs), governments and non-governmental organizations (NGOs). We are focused on extending, enhancing and investing in our proprietary advanced transaction processing network, VisaNet, to offer a single connection point for facilitating money movement to multiple endpoints through various form factors and innovative technologies across more than 200 countries and territories. Visa is committed to advancing innovation within the payment technology sector. Building upon our track record of industry leadership, including early adoption and integration of artificial intelligence (AI) models in payment systems, Visa continues to invest in the development and deployment of next-generation technologies, such as generative AI (GenAI), stablecoins and agentic commerce. During fiscal 2025, 329 billion payments and cash transactions with Visa's brand were processed by Visa or other networks, equating to an average of 901 million transactions per day. Of the 329 billion total transactions, 258 billion were processed by Visa.
Primary products
- VisaNet
- Visa as a Service
- Visa Direct
- Visa Commercial Solutions
- Visa Token Service (VTS)
- Visa Intelligent Commerce
Business segments
End markets
Geographies
Named competitors
“We believe Visa is well-positioned competitively due to our global brand, our broad set of payment products, CMS offerings and value-added services and our proven track record of processing payment transactions securely and reliably.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net revenue increased 11% over the prior year, primarily due to growth in processed transactions, nominal cross-border volume, and nominal payments volume, partially offset by higher client incentives.
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