Visa Statistics 2026
By Axis Intelligence Research
Co-author: Sarah Davis | Last updated: July 28, 2026 | License: CC BY 4.0
According to Axis Intelligence Research, Visa processed 257.5 billion transactions on its networks in fiscal year 2025 — an average of 705 million every day — while 901 million Visa-branded transactions cleared daily across all networks including co-badged partners. The network moved $14.2 trillion in payments volume, earned $40 billion in net revenue, and held a 70.38% share of combined US card purchase volume against Mastercard in 2025.
Quick Answer: Key Visa Statistics for 2026
Visa’s fiscal year runs October 1 through September 30. The most recent completed year is FY2025 (ended September 30, 2025). As of Q2 fiscal 2026 (ended March 31, 2026), the network processed 66.1 billion transactions in a single quarter, up 9% year over year, with payments volume reaching $3.7 trillion for the quarter.
Three numbers that define Visa’s scale right now:
- $40 billion — Visa’s net revenue in FY2025, up 11% year over year
- 257.5 billion — transactions processed on Visa’s networks in FY2025, up 10%
- 4.9 billion — Visa payment credentials in circulation as of June 2025, up 6%
Key Findings
- According to Axis Intelligence Research’s analysis of Visa’s FY2025 Annual Report, the Visa Network Utilization Rate — processed transactions divided by credentials in circulation — reached 52.6 transactions per credential per year, up from 50.8 in FY2024, meaning each Visa card or digital token handled 3.4% more annual transactions than the prior year.
- According to Axis Intelligence Research’s compilation of Nilson Report data and Visa SEC filings, Visa held 70.38% of combined US Visa/Mastercard card purchase volume in 2025, with $7.028 trillion against Mastercard’s $2.958 trillion — the network’s highest US purchase volume on record.
- According to Axis Intelligence Research, Visa’s international transaction revenue reached $14.2 billion in FY2025 — representing 35.5% of gross revenue lines — as cross-border volume excluding intra-European transactions grew 13% in constant-dollar terms.
- According to Axis Intelligence Research, 79% of all Visa face-to-face payments globally were contactless tap transactions as of September 2025, up roughly 8 percentage points from the prior year and 36 percentage points over the past five years.
- According to Axis Intelligence Research, the US Department of Justice antitrust case filed September 24, 2024, alleging Visa monopolized debit network services, survived a motion to dismiss on June 23, 2025 — the single largest regulatory risk to Visa’s $7 billion debit revenue stream, with trial proceedings ongoing.
How Big Is Visa’s Network?
Visa operates across more than 200 countries and territories, connecting nearly 14,500 financial institutions and, as of FY2025, more than 175 million merchant locations globally — a 17% increase from the 150 million reported at the close of FY2024.
The network’s core scale metrics, drawn directly from Visa’s FY2025 Annual Report:
| Metric | FY2023 | FY2024 | FY2025 | YoY Change |
|---|---|---|---|---|
| Total volume | $14.8T | $15.7T | $16.7T | +6.4% |
| Payments volume | $12.3T | $13.2T | $14.2T | +7.6% |
| Processed transactions | 212.6B | 233.8B | 257.5B | +10.2% |
| Payment credentials | 4.3B | 4.6B | ~4.9B | +6.5% |
| Net revenue | $32.7B | $35.9B | $40.0B | +11.4% |
Source: Visa Annual Report 2025, annualreport.visa.com/financials. Credentials measured at June 30 of each fiscal year.
The distinction between total volume ($16.7T) and payments volume ($14.2T) matters to anyone using these figures. Total volume adds cash disbursements — ATM withdrawals, balance transfers, convenience checks — to card purchases. Payments volume is the cleanest measure of commerce flowing over the network.
Visa Direct: The Money Movement Platform
Visa Direct, the company’s real-time push-payment platform enabling person-to-person, business disbursement, and cross-border transfers, processed more than 12.5 billion transactions in FY2025 — roughly eightfold the volume it handled in 2019, according to CEO Ryan McInerney’s FY2025 shareholder letter. By Q2 fiscal 2026 (ended March 31, 2026), Visa Direct had grown to more than 18 billion endpoints, with quarterly transactions up 23% year over year.
Visa Revenue Statistics
Visa’s $40 billion FY2025 net revenue breaks down across four streams before client incentives:
| Revenue line | FY2025 | FY2024 | Change |
|---|---|---|---|
| Service revenue | $17.5B | $16.1B | +9% |
| Data processing revenue | $20.0B | $17.7B | +13% |
| International transaction revenue | $14.2B | $12.7B | +12% |
| Other revenue | $4.1B | $3.2B | +28% |
| Gross revenue | $55.8B | $49.7B | +12% |
| Less: Client incentives | ($15.8B) | ($13.8B) | +14% |
| Net revenue | $40.0B | $35.9B | +11% |
Source: Visa FY2025 Annual Report; Visa Q4 FY2025 Earnings Release, s1.q4cdn.com.
Data processing revenue — the per-transaction fee Visa charges for authorization, clearing, and settlement — is now the largest gross revenue line at $20 billion, overtaking service revenue (which is based on prior-quarter payments volume) for the first time. That reversal reflects the 10% annual growth in transaction counts outpacing the 7.8% growth in payments volume, as average ticket sizes moderate while transaction frequency increases.
International transaction revenue, at $14.2 billion, grew 12% in FY2025 after an 18.7% surge in FY2023 and 8.8% growth in FY2024. The acceleration reflects sustained cross-border travel recovery post-pandemic and continued e-commerce growth across regions. According to Axis Intelligence Research’s calculation, international transaction revenue now represents 35.5% of Visa’s gross revenue lines — the highest share in at least three fiscal years.
GAAP Profitability
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| GAAP net income | $17.3B | $19.7B | $20.1B |
| GAAP diluted EPS | $8.28 | $9.73 | $10.20 |
| Non-GAAP diluted EPS | $8.77 | $10.05 | $11.47 |
Source: Visa Annual Report 2025, annualreport.visa.com/financials.
The deceleration in GAAP net income growth (from +14% in FY2024 to +2% in FY2025) reflects elevated operating expenses — $16.0 billion versus $12.3 billion in FY2024 — including higher personnel costs and the $125 million litigation escrow deposit related to ongoing legal proceedings. Non-GAAP net income of $22.5 billion, which strips acquisition-related amortization and other adjustments, rose 10.6%.
Visa Market Share Statistics
US Market Share
The Nilson Report, the payments industry’s standard reference, publishes annual market share data for US card networks. The most recent complete-year data (2025) shows:
| Network | US Purchase Volume (2025) | Market Share (vs V+MC) |
|---|---|---|
| Visa | $7.028T | 70.38% |
| Mastercard | $2.958T | 29.62% |
| Combined | $9.986T | 100% |
Source: Nilson Report, Issue 1301, February 2026, via nilsonreport.com.
Visa’s 70.38% share represents a 10 basis-point gain from 70.28% in 2024. The four-brand market, including American Express and Discover, tells a different story: the Nilson Report reported via GlobeNewswire that combined Visa, Mastercard, American Express, and Discover purchase volume reached $10.773 trillion in 2024, with Visa capturing 61.1% of all four-brand US card spending, versus Mastercard’s 25.8%, American Express’s 11.1%, and Discover’s 2.0%.
According to Axis Intelligence Research’s analysis, the Visa-only two-brand share has remained above 70% since at least 2020, showing structural stability even as Mastercard incrementally gains ground in international markets.
Global Market Share
Globally, the picture includes UnionPay, which dominates within China’s domestic market. The Nilson Report’s mid-2024 data — the most recent publicly cited figures — showed:
| Network | Global Purchase Tx Share (H1 2024) |
|---|---|
| Visa | 38.66% |
| UnionPay | 33.15% |
| Mastercard | ~22% (estimated) |
| American Express, JCB, Discover | remainder |
Source: Nilson Report, December 2024, via nilsonreport.com/articles/global-brand-cards-worldwide-midyear-2024.
The important context: UnionPay’s 33% global transaction share is almost entirely China-domestic. Strip out Chinese card spending, and UnionPay accounts for less than 1% of global purchase volume, with Visa as the dominant network outside China, according to RBR Data Services (Datos Insights), Global Cards and Payments study.
Visa’s global share has edged down from 39.63% in H1 2023 — a trend consistent with China’s post-pandemic domestic consumption recovery partially restoring UnionPay’s volume — but Visa’s absolute transaction count and dollar volume continue to grow.
Visa Transaction Statistics by Region
Regional Breakdown: Q4 FY2025
The most granular primary-source data comes from Visa’s Q4 FY2025 Operational Performance Data, covering the three months ended September 30, 2025:
| Region | Payments Volume | Nominal Growth | Constant-Dollar Growth | Payments Transactions |
|---|---|---|---|---|
| United States | $1,775B | +7.6% | +7.6% | 28,217M |
| Europe | $826B | +15.4% | +10.7% | 20,903M |
| Asia Pacific | $529B | +4.3% | +4.5% | 12,928M |
| Latin America & Caribbean | $253B | +11.0% | +14.4% | 10,295M |
| CEMEA | $237B | +17.2% | +18.0% | 7,962M |
| Canada | $110B | +4.5% | +5.6% | 1,791M |
Source: Visa Q4 FY2025 Operational Performance Data, s1.q4cdn.com/050606653/files/doc_financials/2025/q4/Q4FY25-Visa-Operational-Performance-Data.pdf. Retrieved July 2026.
The US remains the single largest region at $1.775 trillion in quarterly payments volume, but its share of total volume has been gradually compressing. The CEMEA region (Central Europe, Middle East, Africa) posted 18% constant-dollar growth in Q4 FY2025, the fastest of any region — driven by digital payment adoption in markets where cash displacement is still early-stage. Europe and Latin America are both growing faster than the US in constant-dollar terms.
The Currency Distortion in Regional Data
The gap between nominal and constant-dollar growth rates reveals how much the strong US dollar is suppressing headline regional figures. Latin America’s 11% nominal growth translates to 14.4% constant-dollar — a 3.4 percentage point FX haircut. For CEMEA, the gap is smaller (17.2% vs 18.0%) because CEMEA includes dollar-pegged Gulf Cooperation Council economies. Investors and analysts looking at Visa’s international growth story should anchor to constant-dollar figures, not the nominal prints.
Visa Cross-Border Volume Statistics
Cross-border volume — transactions where the card-issuing country differs from the merchant country — is Visa’s highest-margin revenue driver. The figures below come from Visa’s Q4 FY2025 Operational Performance Data:
| Period | Total Growth (Nominal) | Total Growth (Constant $) | Ex Intra-EU (Constant $) |
|---|---|---|---|
| Q4 FY2025 (Sep 2025) | +17% | +12% | +11% |
| Q3 FY2025 (Jun 2025) | +16% | +12% | +11% |
| Q2 FY2025 (Mar 2025) | +10% | +13% | +13% |
| Q1 FY2025 (Dec 2024) | +15% | +16% | +16% |
| FY2025 Full Year | +15% | +13% | +13% |
Source: Visa Q4 FY2025 Operational Performance Data, Visa FY2025 Annual Report. Retrieved July 2026.
The ex-intra-EU figure matters because intra-European transactions are settled differently and do not drive Visa’s international transaction revenue — that revenue line is exclusively tied to cross-border volume where the issuer and merchant are in different country groupings. The 13% constant-dollar growth in ex-intra-EU cross-border volume directly explains the 12% growth in international transaction revenue in FY2025.
For Q2 fiscal 2026 (ended March 31, 2026), cross-border volume excluding intra-Europe grew 11% in constant dollars, with e-commerce cross-border up 13% and travel cross-border up 10%, per Visa’s April 29, 2026 earnings call. CEMEA cross-border travel was the one soft spot — down roughly 2.5 percentage points due to the ongoing Middle East conflict.
Visa Payment Credentials and Cards in Circulation
Visa does not issue cards directly; it licenses its brand and network access to financial institutions. The 4.9 billion figure represents all payment credentials — credit cards, debit cards, prepaid cards, and increasingly, digital tokens provisioned to mobile wallets — measured at June 30, 2025.
| Credential type | FY2025 | FY2024 |
|---|---|---|
| Visa Credit (US) | ~475M cards | ~451M |
| Visa Debit (US) | ~1,001M cards | ~1,027M |
| Visa Credit (International) | ~990M cards | ~923M |
| Visa Debit (International) | ~2,415M cards | ~2,306M |
| Total | ~4,881M | ~4,706M |
Source: Visa Q4 FY2025 Operational Performance Data (card counts at June 30, 2025). Retrieved July 2026.
US debit credentials declined slightly year over year — consistent with the broader trend of consumers consolidating to fewer, higher-reward credit cards and digital wallet tokens. International debit growth (+109M credentials) more than offset US debit contraction. International credit grew +67M credentials.
Axis Intelligence Research: Visa Network Utilization Rate (VNUR)
According to Axis Intelligence Research, no standard industry metric captures how productively Visa’s credential base translates into actual network transactions. Most published comparisons focus on total volume or transaction count in isolation.
Axis Intelligence Research defines the Visa Network Utilization Rate (VNUR) as:
VNUR = Annual Processed Transactions (billions) ÷ Payment Credentials in Circulation (billions)
This ratio measures how many times each credential generates a network transaction in a given year — a direct signal of network engagement depth, independent of credential count or volume scale.
Formula and inputs:
- FY2025 processed transactions: 257.5 billion (Visa Annual Report 2025, 12 months ended September 30, 2025)
- FY2025 credentials: approximately 4.9 billion (Visa Annual Report 2025, measured at June 30, 2025)
- FY2025 VNUR = 257.5 ÷ 4.9 = 52.6 annual transactions per credential
| Fiscal Year | Processed Transactions | Credentials | VNUR |
|---|---|---|---|
| FY2023 | 212.6B | 4.3B | 49.4 |
| FY2024 | 233.8B | 4.6B | 50.8 |
| FY2025 | 257.5B | ~4.9B | 52.6 |
Source calculation: Axis Intelligence Research, July 2026. Inputs from Visa Annual Reports 2023–2025 (annualreport.visa.com).
The VNUR has grown at a 3.1% compound annual rate over two years — faster than credential growth alone (+3.4% annual CAGR) — indicating that each existing credential is being used more frequently, not just that more credentials are being issued. This is significant: Visa’s growth is increasingly engagement-driven rather than pure credential expansion.
Limitations: Credentials include cards that were issued but rarely or never used. VNUR therefore understates the engagement rate of active cards. Visa does not publish an active-credential count, making this limitation inherent to any external analysis. The metric should be read as a floor on network engagement, not a ceiling.
Axis Intelligence Research will update this figure annually as Visa publishes fiscal year data.
Visa Tap-to-Pay and Tokenization Statistics
Contactless payments have become the default face-to-face transaction method across Visa’s global network, per the Visa FY2025 Annual Report:
- 79% of all Visa face-to-face transactions globally were tap-to-pay as of September 2025, up from approximately 71% in September 2024 and 43% in September 2020
- Tap to Phone — using NFC-enabled smartphones to accept payments — reached over 20 million transacting seller devices, processing more than $33 billion in payments volume in 2025, more than doubling year over year
- More than 50% of Visa ecommerce transactions are now tokenized, compared to 44% in 2019 when manual guest checkout dominated
Tokenization — replacing a 16-digit card number with a unique digital identifier — directly reduces fraud rates. According to Visa’s Payments Vault data, tokenized transactions show a 35% lower fraud rate in ecommerce versus non-tokenized card-on-file transactions, and deliver a nearly 5 percentage-point authorization lift. In calendar 2024, Visa’s tokenization program generated $110 billion in incremental merchant sales through higher authorization rates, and saved $1.1 billion in fraud losses.
On the ecommerce checkout evolution front: manual entry guest checkout — the dominant method in 2019 — had fallen to just 16% of Visa ecommerce transactions by September 2025, down from 44% six years earlier. Among Visa’s top 25 ecommerce sellers, it was less than 4%. Card-on-file and digital wallet “button” checkout now account for 84% of Visa’s ecommerce volume.
Visa Fraud Prevention Statistics
Visa has invested $13 billion in technology and infrastructure over the five fiscal years ending in 2025, according to the Visa FY2025 CEO letter. The fraud outcomes from that investment:
- In 2025, Visa blocked nearly twice as many fraudulent ecommerce transactions per day as in 2024 — over 400,000 additional blocked transactions daily
- Ecommerce fraud rates across the Visa ecosystem fell 8% in 2025 (Q1–Q3 FY2025 versus FY2024)
- Visa Scam Disruption, launched in 2024, has helped dismantle more than 25,000 scam merchant operations representing more than $1 billion in attempted fraud
- VisaNet analyzes more than 500 data points on up to 83,000 transactions per second
| Fraud metric | Value | Period | Source |
|---|---|---|---|
| Additional ecommerce transactions blocked per day (vs prior year) | 400,000+ | FY2025 | Visa Annual Report 2025 |
| Ecommerce fraud rate reduction | -8% | Q1-Q3 FY2025 vs FY2024 | Visa Annual Report 2025 |
| Fraud savings from tokenization | $1.1B | Calendar 2024 | Visa Annual Report 2025 |
| Scam operations dismantled | 25,000+ | Since 2024 launch | Visa Annual Report 2025 |
| Max transaction processing speed | 83,000/second | 2025 | Visa corporate site |
Source: Visa FY2025 Annual Report, annualreport.visa.com/chairman-and-ceo-message.
Visa Interchange Fee Statistics
How Visa’s Fee Structure Works
Visa does not collect interchange fees directly. It sets the schedule; the issuing bank receives the interchange fee from the merchant’s acquiring bank. Visa collects network assessment fees separately. The distinction matters for understanding Visa’s actual revenue model: what Visa books as “service revenue” and “data processing revenue” are its own assessment fees, not interchange.
The average combined US credit card interchange rate for Visa and Mastercard reached 2.36% in 2025, up from 2.02% in 2010, according to the Merchants Payments Coalition citing Nilson Report data. That rate covers Visa and Mastercard combined — individual Visa card interchange varies by card type, merchant category, and transaction method.
Published Visa US interchange rate examples (April 2026 schedule):
| Card type | Swipe/tap (card present) | Online (card not present) |
|---|---|---|
| Consumer credit (Visa Signature) | 1.65% + $0.10 | 1.80% + $0.10 |
| Consumer debit (regulated) | 0.05% + $0.21 | 0.05% + $0.22 |
| Commercial credit | varies by category | up to 2.70% + $0.10 |
Source: Visa USA Interchange Reimbursement Fees, April 2026 schedule (usa.visa.com). Retrieved July 2026.
Regulated debit interchange is capped by the Durbin Amendment (Federal Reserve Regulation II) at 21 cents plus 0.05%, for issuers with $10B+ in assets. This is why Visa’s domestic US debit revenue is structurally lower per transaction than its credit revenue.
US Merchants Paid a Record $198.25 Billion in Processing Fees in 2025
Total US card processing fees — interchange, assessment, and processor markup combined — reached $198.25 billion in 2025, according to the Merchants Payments Coalition citing Nilson Report data, more than triple the $62.1 billion paid in 2009. Visa and Mastercard account for more than 80% of US credit card transaction volume, making them the dominant drivers of that total.
The Visa-Mastercard Interchange Settlement
In March 2024, Visa and Mastercard agreed to hold off on planned interchange rate increases for five years as part of an antitrust settlement. The proposed settlement would reduce average interchange from approximately 2.35% to 2.25% and introduce a 1.25% cap on standard card rates. As of July 2026, the settlement’s final status remains pending court approval.
Visa Legal and Regulatory Statistics
The DOJ Antitrust Case
On September 24, 2024, the US Department of Justice filed a civil antitrust complaint against Visa in the US District Court for the Southern District of New York, alleging violations of the Sherman Act. The case, United States v. Visa, Inc., alleges Visa monopolized general purpose debit network services by foreclosing at least 45% of all US debit transactions through exclusionary merchant and acquirer agreements. The DOJ estimates Visa earns approximately $7 billion in revenue annually from debit network fees that constitute monopoly rents.
On June 23, 2025, Judge John G. Koeltl denied Visa’s motion to dismiss in its entirety, allowing the case to proceed. Visa has stated it considers the lawsuit meritless and will defend itself vigorously.
The DOJ case, combined with the existing Visa-Mastercard merchant class action litigation — in which a consolidated amended complaint was filed on behalf of all US persons incurring Visa debit routing fees since January 2012 — represents a sustained regulatory challenge to Visa’s debit network business model.
Visa Stablecoin and Emerging Technology Statistics
Visa’s FY2025 shareholder letter disclosed several stablecoin figures that represent the earliest quantified data on this segment:
- $3.7 billion in payments volume processed from stablecoin-linked cards across more than 200 countries in the twelve months through September 2025, originating from 1.9 million stablecoin-denominated cards
- $800 million in settlements completed in stablecoins (USDC) since 2023, with monthly volume now running at a $2.5 billion annualized rate
- Strongest growth markets: Colombia, Argentina, and Brazil — Latin American markets where dollar-denominated digital currency meets high cross-border payment demand
These are baseline figures for a segment still in early adoption. The regulatory environment has shifted sharply: the GENIUS Act in the US and parallel legislative progress globally moved stablecoins from a niche product toward regulated financial infrastructure in 2025, which Visa’s CEO characterized as a structural tailwind for the company’s stablecoin bridging role.
Visa Q2 Fiscal 2026: Most Recent Quarterly Data
For the quarter ended March 31, 2026, Visa reported:
| Metric | Q2 FY2026 | Q2 FY2025 | YoY Change |
|---|---|---|---|
| Net revenue | $11.23B | $9.59B | +17% |
| Payments volume | $3.7T | ~$3.4T | +9% (constant $) |
| Processed transactions | 66.1B | 60.7B | +9% |
| Cross-border volume (ex intra-EU) | — | — | +11% (constant $) |
| Non-GAAP diluted EPS | $3.31 | $2.76 | +20% |
Source: Visa Q2 FY2026 Earnings Release, April 29, 2026.
The 17% net revenue growth was described by Visa management as the strongest since 2022. Value-added services — Visa’s consulting, risk, and analytics portfolio — contributed $3.3 billion in revenue for the quarter, representing 30% of net revenue and growing 27% year over year. Visa Direct transactions grew 23% year over year to 3.7 billion for the quarter.
How Does Visa Compare to Mastercard?
The two-brand comparison is the most-cited benchmark in payments. For the most recent full fiscal year available for each company:
| Metric | Visa (FY2025) | Mastercard (FY2024) | Source |
|---|---|---|---|
| Gross payments volume | $14.2T | $9.5T | Visa AR 2025; Mastercard AR 2024 |
| Net revenue | $40.0B | $25.1B | Visa AR 2025; Mastercard AR 2024 |
| Processed transactions | 257.5B | ~160B | Visa AR 2025; Mastercard filing |
| US purchase volume share | 70.38% | 29.62% | Nilson Report, Feb 2026 |
| Payment credentials | ~4.9B | ~3.4B | Annual reports |
Note: Mastercard’s fiscal year ends December 31; Visa’s ends September 30. Direct comparison covers partially overlapping calendar periods.
The spread on the US two-brand share — 70.38% versus 29.62% — has been structurally stable for years. Visa’s dominance in US debit is the principal reason: Visa holds a larger share of debit-issuing bank relationships built during the pre-Durbin era. Mastercard is gaining faster in international markets, where cross-border volume growth ran at 15% year over year in Mastercard’s most recent quarter versus Visa’s 12–13%.
Visa Statistics by Product Type
Credit vs. Debit Split (FY2025, 12 months ended September 30)
From the Visa Q4 FY2025 Operational Performance Data:
| Program | Payments Volume | YoY Growth (Nominal) | Share of Total Payments Vol |
|---|---|---|---|
| Visa Credit | $6,962B | +6.5% | 48.9% |
| Visa Debit | $7,255B | +9.0% | 51.1% |
| Total | $14,217B | +7.8% |
Debit overtook credit in payments volume terms in recent years, partly due to debit’s dominance in the international credential base (3.4 billion debit credentials versus 1.5 billion credit credentials). Debit grew faster than credit in FY2025 — 9.0% nominal versus 6.5% — driven by international debit adoption in CEMEA and Latin America.
Card-Not-Present (Ecommerce) vs Card-Present Growth
Visa does not disclose the absolute split between card-present and card-not-present (CNP) transactions globally, but regional filings reveal trends:
- US card-not-present volume grew at approximately 7% in FY2025 versus approximately 5% for card-present
- Globally, ecommerce cross-border CNP volume grew 13% in Q2 FY2026 versus 10% for travel (card-present dominated)
The card-not-present premium reflects the secular shift toward online commerce and the growing role of embedded finance — subscription billing, marketplace payouts, platform payments — where Visa credentials are tokenized on file.
Visa Stablecoin and AI Commerce: Emerging Volume Segments
Agentic Commerce
According to Visa’s FY2025 Annual Report, referral traffic from generative AI to US retail sites grew 1,100% from July 2024 to January 2025, accelerating to 4,700% year over year by July 2025. In April 2025, Visa launched Visa Intelligent Commerce — a framework enabling AI agents to authenticate and complete purchases using Visa credentials — to position itself as the security and interoperability layer for agent-driven transactions.
The volume contribution from agentic commerce remains immaterial in current financial results, but the credentials framework is being built now. Visa’s advantage is existing: any tokenized Visa credential can theoretically authenticate an AI agent transaction without new infrastructure.
Tap to Phone Merchant Expansion
In FY2025, merchants using Tap to Phone (accepting contactless payments via smartphone) reached over 20 million transacting devices. In markets including India, Mexico, and Brazil, more than 1 million new merchant locations were added to the Visa acceptance network in the twelve months ending September 2025 — each representing a previously cash-only seller brought into the digital payments ecosystem.
Methodology
Data collection: All statistics in this article come from primary sources fetched and read during the production session: Visa’s FY2025 Annual Report (annualreport.visa.com), Visa’s Q4 FY2025 Operational Performance Data PDF (s1.q4cdn.com), Visa’s Q2 FY2026 Earnings Release (April 29, 2026), Nilson Report press releases via GlobeNewswire, and Visa corporate product pages.
Axis original metric — VNUR formula: Annual Processed Transactions (billions) from Visa Annual Report (section: “Visa Processed Transactions”) ÷ Payment Credentials in Circulation (billions) from Visa Annual Report (section: “Operational highlights”). Credentials are measured at June 30 of each fiscal year per Visa’s stated methodology. This measurement date means the denominator is 3 months old relative to the transaction numerator (September 30 fiscal year-end), slightly overstating the VNUR by counting credentials for roughly one quarter before they would generate FY transactions. The direction and trend of the metric are unaffected by this lag.
Nilson Report figures: The Nilson Report is a subscription publication and does not make full data tables publicly available. Figures cited in this article are drawn from Nilson Report press releases published on GlobeNewswire (market share and total volume data) or from Visa’s own SEC filings which cite Nilson Report as the source for competitor comparison data.
Currency convention: All Visa volume figures are in nominal US dollars unless otherwise specified as constant-dollar. Visa’s own convention is to calculate nominal figures using a quarterly-fixed exchange rate for each local currency.
Fiscal year convention: Visa’s fiscal year ends September 30. “FY2025” covers October 1, 2024 through September 30, 2025. Nilson Report calendar-year figures align to the December 31 calendar year and are not directly comparable.
Limitations: The VNUR metric uses total credentials (including inactive cards). Visa does not publicly disclose active-card counts, making a precision-adjusted VNUR impossible from public data. Cross-border volume absolute figures are not disclosed by Visa; only growth rates are published. The Visa-Mastercard comparison uses non-aligned fiscal years.
About This Dataset
The companion CSV (visa-statistics-2026.csv) contains every quantitative figure in this article as a machine-readable row, with full provenance: source organization, source document, URL, and retrieval date. Rows where Axis Intelligence Research computed a derived figure (the VNUR) carry axis_calculated = yes and a method_note describing the formula.
Coverage: Visa fiscal years 2023, 2024, and 2025; Nilson Report 2024–2025; Q2 FY2026 quarterly data.
License: CC BY 4.0. Attribution: Axis Intelligence Research, “Visa Statistics 2026,” 2026.
Citation: Axis Intelligence Research. (2026). Visa Statistics 2026: Network Volume, Market Share & Revenue Data. axis-intelligence.com/visa-statistics/.
Dataset uploaded to: Hugging Face, Kaggle, GitHub under CC BY 4.0.
Cite This Page
APA: Axis Intelligence Research. (2026). Visa statistics 2026: Network volume, market share and revenue data. Axis Intelligence Research. https://axis-intelligence.com/visa-statistics/
MLA: Axis Intelligence Research. “Visa Statistics 2026: Network Volume, Market Share and Revenue Data.” Axis Intelligence Research, 2026, axis-intelligence.com/visa-statistics/.
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Frequently Asked Questions
How many transactions does Visa process per day?
Visa processed 257.5 billion transactions on its networks in fiscal year 2025 (ended September 30, 2025), equating to approximately 705 million network-processed transactions per day. The CEO’s “901 million per day” figure covers all Visa-branded transactions including those processed by co-badged partner networks — a broader count that includes transactions Visa does not process directly.
What is Visa’s market share in 2025?
In the US, Visa held 70.38% of combined Visa and Mastercard card purchase volume in 2025 ($7.028 trillion of $9.986 trillion), according to the Nilson Report. Including American Express and Discover, Visa’s 2024 share of all four-brand US card spending was 61.1%. Globally, Visa held a 38.66% share of purchase transactions across the six major card brands in the first half of 2024, per Nilson Report data.
How much revenue does Visa make?
Visa reported GAAP net revenue of $40.0 billion for fiscal year 2025, an 11% increase from $35.9 billion in fiscal year 2024. Net income was $20.1 billion, with diluted earnings per share of $10.20 on a GAAP basis and $11.47 on a non-GAAP basis.
How many Visa cards are there in the world?
Approximately 4.9 billion Visa payment credentials were in circulation as of June 30, 2025 — a figure that includes credit cards, debit cards, prepaid cards, and digital tokens provisioned to mobile wallets. This represents roughly one Visa credential for every 1.6 people on earth.
What is Visa’s total payment volume?
Visa’s payments volume — the aggregate dollar value of purchases made with Visa-branded cards and credentials — was $14.2 trillion in fiscal year 2025. Total volume, which adds cash disbursements, was $16.7 trillion. In Q2 fiscal 2026 (ended March 31, 2026), quarterly payments volume was $3.7 trillion, growing 9% year over year in constant-dollar terms.
How does Visa make money?
Visa earns revenue through four streams: service revenue (a fee on payments volume processed in the prior quarter, $17.5B in FY2025), data processing revenue (per-transaction fees for authorization and settlement, $20.0B), international transaction revenue (fees on cross-border transactions, $14.2B), and other revenue ($4.1B). Client incentives — payments back to large issuers and acquirers — reduced FY2025 gross revenue by $15.8 billion to reach $40.0 billion net.
Is Visa involved in any lawsuits?
Yes. The US Department of Justice filed a civil antitrust lawsuit on September 24, 2024 (United States v. Visa, Inc., SDNY), alleging Visa monopolized the US debit network market. Visa’s motion to dismiss was denied on June 23, 2025, and the case is proceeding. Separately, consolidated merchant and cardholder class actions make similar allegations. Visa has deposited $125 million into litigation escrow in Q2 FY2026 and maintains it will defend itself vigorously.
What is Visa Direct?
Visa Direct is Visa’s push-payment platform enabling real-time money movement — person-to-person transfers, government disbursements, earned wage access, and cross-border remittances — that reaches beyond traditional card-to-card payments. In FY2025, Visa Direct processed more than 12.5 billion transactions, roughly eight times its 2019 volume. As of Q2 FY2026, the platform had more than 18 billion reachable endpoints globally.