Visa (V) Citi’s 15th Annual FinTech Conference summary

Trust, scale and infrastructure

• Trust framed as a growth differentiator, built on scale, network infrastructure and products that evolve with payments and client needs.

• FY 2026 ended with 5.2B credentials; network processed nearly 9,000 transactions per second, with over 50% of credentials and over 60% of e-commerce transactions tokenized.

• Acceptance covered well over 200M seller locations, plus 200M+ digital-wallet locations; Visa Direct reached over 18B endpoints.

• More than $15B invested in network security over five years; next-generation VisaNet development and stablecoin capabilities remain priorities.

• Stablecoin vision links fiat, stablecoins and tokenized deposits across one interoperable network.

Consumer payments and account-to-account

• Confidence remains high in growing consumer volumes faster than addressable consumer spend in the U.S. and internationally, including higher-digital-penetration markets.

• U.S. payment-volume growth accelerated from roughly 6%-8% in the prior 18 months to 10% in recent quarters; October drivers remained stable and strong versus September.

• Growth drivers include converting cash with Tap to Pay, taking share from local schemes and legacy ACH, and competing for share; spending is supported by a healthy labor market.

• In markets such as Brazil, Pix has expanded payment participation; debit, credit, cross-border capabilities and Visa Protect for A2A support growth alongside account-to-account systems.

Cross-border and commercial growth

• Cross-border travel remains strong and stable, while e-commerce volumes have accelerated; growth is stronger than pre-pandemic and translates into revenue across three revenue lines.

• International transaction revenue growth can differ from cross-border volume due to FX volatility, business mix and pricing; lower FX volatility versus a year earlier has weighed on that revenue line.

• Across revenue associated with cross-border volume, growth and yields were described as healthy and yields stable.

• Commercial and money movement solutions address a stated $200T opportunity: $55T in money movement and $145T in commercial flows, including $35T carded.

• FY 2026 commercial payment volume exceeded $2T for the first time; Visa Direct transactions grew 23%. Strong underlying drivers are expected to support revenue growth faster than the overall business.

• FY 2027 revenue comparisons include lapping prior pricing in H1 and a one-time Q2 FY 2026 performance-adjustment benefit; total pricing contribution is expected to be similar to FY 2026 and weighted to H2, potentially more so.