Visa Inc
usa.visa.comWhat Do They Do?
Provides payment processing, Visa-branded payment products and value-added services to financial institutions, sellers and governments.
10-K for FY2025, filed Nov 6, 2025Visa 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…View ↗
We offer a wide range of Visa-branded payment products that our clients, including nearly 14,500 financial institutions, use to develop and…View ↗
We provide value-added services to our clients, including Issuing Solutions, Acceptance Solutions, Risk and Security Solutions and Advisory…View ↗
How Do They Make Money?
Financial institutions and other parties in Visa’s payments network pay mainly for transaction processing and access to Visa’s network. Fees vary with transaction type and payment volume; Visa earns revenue as it provides network services and performs value-added services.
10-K for FY2025, filed Nov 6, 2025
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10-K for FY2025, filed Nov 6, 2025
FY2025 revenue by product or service ↗
$40B
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10-K for FY2025, filed Nov 6, 2025
$40B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service revenue
Recurring
10-K for FY2025, filed Nov 6, 2025 |
44%
FY2022: 46%
|
Service revenue, FY2025
$17.5B Sources
|
Recurring |
|
Data processing revenue
Usage-based
10-K for FY2025, filed Nov 6, 2025 |
50%
FY2022: 49%
|
Data processing revenue, FY2025
$20B Sources
|
Usage-based |
|
International transaction revenue
|
35%
FY2022: 33%
|
International transaction revenue, FY2025
$14.2B Sources
|
|
|
Other revenue
|
10%
FY2022: 6.8%
|
Other revenue, FY2025
$4.1B Sources
|
|
|
Client incentives
|
−39%
FY2022: −35%
|
Client incentives, FY2025
−$15.8B Sources
|
Who Are Their Customers?
Financial institutions and acquiring clients use Visa’s network and products to provide payment services to account holders and sellers; Visa also serves fintechs, governments, and other participants in the payments network.
10-K for FY2025, filed Nov 6, 2025We offer a wide range of Visa-branded payment products that our clients, including nearly 14,500 financial institutions, use to develop and…View ↗
In a typical Visa C2B payment transaction, the consumer purchases goods or services from a seller using a Visa card or payment product. The…View ↗
Revenue recognition. The Company’s net revenue is comprised principally of the following categories: service revenue, data processing…View ↗
10-K for FY2025, filed Nov 6, 2025
In fiscal 2025, 2024 and 2023, the Company had one client that accounted for 11% of its total net revenue for each period.View ↗
Do Revenues Turn Into Profits?
Yes. It kept 50 cents of every revenue dollar as net income in FY2025 and turned 54 cents into free cash flow.
10-K for FY2025, filed Nov 6, 2025
$24BView ↗
10-K for FY2025, filed Nov 6, 2025
$20.1BView ↗
10-K for FY2025, filed Nov 6, 2025
$21.6BView ↗
How Are They Changing?
10-Q for Q3 FY2026, filed Jul 29, 2026
Open tableView ↗
Growing. Revenue grew 66% in 4 years, from $24.1B in FY2021 to $40B in FY2025, about 13% a year.
Who Do They Compete With?
Competes with American Express, Diners Club/Discover, Capital One, JCB, Mastercard, UnionPay, NYCE, Pulse, STAR, and Interac
10-K for FY2025, filed Nov 6, 2025Global or Multi-regional Networks: These networks typically offer a range of branded, general purpose card payment products that consumers…View ↗
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