visa

On October 28, the payment network Visa released its performance for fiscal year 2026 and the fourth fiscal quarter. The fiscal year 2026 spans from October 1, 2025, to September 30, 2026, and the fourth fiscal quarter spans from July 1, 2026, to September 30, 2026.In fiscal year 2026, Visa's total operating revenue was $45.903 billion, a year-on-year increase of 15%; operating profit was $28.11 billion, a year-on-year increase of 17.15%; the operating profit margin was 61.24%, an increase of 1.25 percentage points year-on-year. The net profit attributable to the parent company was $23.504 billion, a year-on-year increase of 17%; operating cash flow was $23.728 billion. Basic earnings per share were $12.34, diluted earnings per share were $12.32, a year-on-year increase of 21%; the debt-to-equity ratio was 61.73%.In the fourth fiscal quarter, Visa's total operating revenue was $12.139 billion, a year-on-year increase of 13% and a quarter-on-quarter increase of 4.35%; operating profit was $7.262 billion, a year-on-year increase of 18.12%; the operating profit margin was 59.83%, an increase of 2.5 percentage points year-on-year. The net profit attributable to the parent company was $6.002 billion, a year-on-year increase of 18% and a quarter-on-quarter increase of 6.65%; both basic and diluted earnings per share were $3.19, a year-on-year increase of 22%; the debt-to-equity ratio was 61.73%.

Visa disclosed in its Q4 fiscal year 2026 earnings call that its stablecoin settlement annualized transaction volume has exceeded $25 billion, a tenfold year-on-year increase, currently supporting 10 blockchains and operating in all 5 regions. The Visa stablecoin platform is available in the United States, Mexico, Puerto Rico, Colombia, Switzerland, and the United Kingdom, with over 300 partners in the pipeline.Open USD launched on September 30, and as of October 15, its circulating supply exceeded $800 million. Additionally, Visa has over 225 stablecoin-linked card projects, a year-on-year increase of over 70%, with transaction volume growing by more than 150%, covering 5 million cards across more than 50 countries.

According to Bitcoin.com News, a cooperative project in Thailand has launched a digital wallet application called WORPT, allowing foreign tourists to exchange stablecoins such as USDT and USDC for Thai Baht and make payments to local merchants through Thailand's QR PromptPay network. The application was launched under the Thai Securities and Exchange Commission's tourist Digipay regulatory sandbox program, jointly developed by Waan Exchange and Wipay, with partners including Tether, The Mall Group, and Visa.According to the sandbox design, local merchants do not directly accept cryptocurrencies, and payments are settled in Thai Baht through standard payment systems. WORPT also plans to launch physical and virtual Visa prepaid cards, allowing users to share the same Thai Baht balance for QR code payments and card transactions. The project is scheduled to hold an official launch event in November 2026 and must comply with the sandbox requirements for identity verification, transaction monitoring, and anti-money laundering rules.

On October 21, the payment network Visa announced three capabilities aimed at the growth of commercial cards, the security of virtual cards, and the automation of commercial payments in San Francisco, serving financial institutions, fintech companies, and enterprises. Darren Parslow, Global Head of Visa Commercial Solutions, stated that companies are accelerating the automation of payment-related tasks from identifying vendor opportunities to approving invoices and executing transactions. These capabilities are designed to provide the necessary data, security, and control.The three capabilities are SESA 2.0, Visa Commercial Fraud Solutions, and a live pilot conducted with the billing platform BILL and the accounts receivable platform Billtrust. SESA 2.0 combines AI vendor scoring, Visa commercial payment data, buyer benchmarks, and business value modeling to help identify vendors more likely to accept commercial cards and estimate growth opportunities. Visa claims that since its launch, SESA has helped financial institutions discover over $600 billion in potential cardable spending.Visa Commercial Fraud Solutions covers vendor verification, authenticating commercial virtual card users through 3-D Secure, and transaction-level controls such as spending, merchant category, location, and time. Payment controls have already been provided to eligible issuing institutions in supported countries and regions, while the other two are currently in pilot and are planned for full rollout in 2027. Visa also stated that the pilot with BILL and Billtrust has gone live, allowing trusted AI agents to initiate and assist in completing approved invoice payments through the vendor portal, using tokenized payment credentials without relying on shared vendor portal login credentials.

On October 25, Tesla CEO Elon Musk posted on the social platform X, stating that the platform plans to add payment features: users can long press the like button below a post to transfer $1 (approximately 6.7 yuan) to others via X Money. Musk wrote, "We are adding the ability to long press the like button to send $1 to others via X Money." According to Phoenix Technology, Musk did not disclose a specific launch date and did not clarify whether the transfer requires a second confirmation.X Money is part of Musk's push to transform X into a super app. On July 27 of this year, X Money began rolling out in the U.S. to Premium and Premium+ subscribers, integrating deposit accounts, instant transfers between users, and Visa debit cards. Users can transfer, receive, or request payments from other X Money users, with eligible peer-to-peer transfers incurring no fees and having no transaction limits.On September 2 of this year, X introduced payment services into the creator revenue system, announcing that creators in the U.S. would receive income from the original content reward program and paid subscriptions through X Money, whereas previously related funds were primarily processed through the third-party payment platform Stripe. According to X Money's official statement, this service is currently mainly aimed at U.S. residents, and users must meet age, identity verification, and other requirements.

According to The Block, in response to market rumors about Visa possibly acquiring the cryptocurrency custody company Fireblocks, a spokesperson for Fireblocks stated, "We have noted the rumors regarding Visa potentially acquiring Fireblocks. This is the first time we have heard of this matter, and it does not appear to be true at this time."

According to Axios, Visa is in talks to acquire the cryptocurrency asset custody infrastructure company Fireblocks, with a deal valuation of approximately $2.5 billion. If the deal is finalized, it will further expand Visa's presence in the digital asset custody and blockchain payment infrastructure sectors.Currently, this news is pending further confirmation, and the specific terms and progress of the acquisition negotiations have not been disclosed.

The Reserve Bank of Australia (RBA) stated in the frequently asked questions document regarding retail payment regulation conclusions that the removal of surcharges for the designated card networks eftpos, Mastercard, and Visa starting from October 1, 2026, is in the public interest. The RBA will lift the ban on the "no surcharge" rule for the aforementioned networks from that date, with the changes based on Standard No. 3 of 2016 and the revisions to the merchant card payment costs and surcharge standards in 2026. eftpos, Mastercard, and Visa have all decided to implement the no surcharge rule from that date, generally applicable to their credit, debit, and prepaid cards, including cards issued overseas.American Express, UnionPay, and PayPal have also decided to eliminate surcharges, but are currently not formally regulated by the RBA. American Express and UnionPay will withdraw from their existing commitments with the RBA on October 1, 2026, while PayPal's no surcharge rule will take effect on October 5, 2026. This scope is limited to fees charged due to customer card payments and does not include surcharges for weekends, public holidays, booking fees, or service fees. Merchants must comply with the new card organization rules unless exceptions apply; businesses, non-profit organizations, and inter-business card payments do not receive a general exemption.The reforms will be implemented in phases. Starting from October 1, 2026, a lower interchange fee cap will apply to domestic card transactions; from October 30, designated card networks and large acquirers must publish the specified card payment fee information on their websites. From January 30, 2027, large acquirers must disclose how the decrease in interchange fees is passed on to merchant service fees; starting April 1, the interchange fee cap will apply to transactions involving overseas-issued cards acquired in Australia, and acquirers must also provide merchants with more detailed statements. The RBA stated that businesses can still factor the costs of accepting card payments into their overall pricing and may offer discounts for specific payment methods.

According to CCTV News, a spokesperson for the U.S. State Department stated on the 20th that the United States has revoked over 300,000 visas during Donald Trump's second presidential term.U.S. State Department spokesperson Tommy Pigott announced the latest data on social media that the number and speed of visa revocations by the Trump administration exceeded that of previous U.S. administrations, and adopted a zero-tolerance attitude towards visa holders who violate laws, commit fraud, or threaten U.S. national security.

Cryptocurrency payment infrastructure company Mesh announced a partnership with Visa, allowing users to directly spend their cryptocurrency and stablecoin balances from participating wallet applications at over 175 million merchant locations worldwide. This integration supports both offline and online payments through Visa credentials configured in the backend, with Mesh responsible for transaction fund transfers and currency conversion, so users do not need to sell or transfer assets in advance.Bam Azizi, CEO and co-founder of Mesh, stated that cryptocurrency has never been a consumption issue, but rather a "last mile" problem, and previously solving this issue meant needing to obtain a separate card. Mesh handles fund transfers and conversions, allowing balances to be converted into purchasing power at the moment of payment, without users needing to transfer any assets, and merchants not needing to make any changes. The specific launch date of this partnership, supported devices, and participating platforms have not yet been announced.Mesh is a cryptocurrency payment infrastructure company that previously supported the launch of PayPal's "Pay with Crypto" service. In August 2025, institutions such as PayPal Ventures and Coinbase Ventures raised Mesh's total funding to over $130 million. In January of this year, Mesh completed a $75 million Series C funding round led by Dragonfly, entering the unicorn ranks. This partnership is also Visa's latest initiative to continuously integrate cryptocurrency assets into its merchant network, having previously engaged in similar collaborations with WeFi, Bridge, and others.

Despite the stablecoin circulating supply experiencing almost no growth in the first 9 months before 2026, its payment usage is accelerating. During the same period, stablecoin payments reached $482 billion, a year-on-year increase of 45%; the number of transactions rose to over 1 billion, a year-on-year increase of 71%. On-chain stablecoin card spending reached $3.9 billion, ten times that of the same period last year, with transactions under $50 accounting for 84% of the increase in card transactions.Mastercard, Stripe, and Visa launched services this week to integrate stablecoins into existing payment systems. In the first three quarters, out of $97.9 trillion in original transfers, only 2.5%, or $2.4 trillion, belonged to end-user activities, with $482 billion being the payment amount under this metric; stablecoin card spending in the second quarter accounted for only 0.03% of Visa's $4 trillion payment volume during the same period.

According to official news from Visa, the stablecoin pre-funding capability of Visa Direct has transitioned from the pilot phase to commercial deployment. Payment infrastructure provider Inyo Global has become the first service provider to put this functionality into production, supporting eligible Visa Direct clients and partners.

According to the official service account of Visa on October 13, Visa has officially received approval from the People's Bank of China to prepare for a bank card clearing institution within China. Visa will continue to complete subsequent work and carry out bank card clearing business in China.Visa CEO Al Kelly stated that the approval of this preparation application is another important milestone in Visa's long-term commitment to serving the Chinese market. The company looks forward to actively carrying out subsequent work in accordance with the relevant regulatory provisions of the People's Bank of China, in order to strive for early business development in the domestic market.

A survey released by Visa shows that consumer interest in stablecoins is rising in the Asia-Pacific region. The survey covered 14,250 respondents, of which 46% indicated they might use stablecoins in the next five years, while the actual usage rate in the past 12 months was 16%. About 49% of respondents believe that stablecoins are likely to become a common method for cross-border transfers within five years. Nischint Sanghavi, Visa's head of digital currency for the Asia-Pacific region, stated that consumer perceptions of stablecoins are undergoing a significant shift.The cognitive gap remains significant. Visa stated that only 6% of respondents accurately understand how stablecoins work, and 49% of those who are aware of stablecoins believe they can only be used for buying and selling cryptocurrencies. Among respondents who are aware of stablecoins but have not yet used them, concerns about fraud and scams are the most frequently mentioned barriers. There are approximately 2.5 billion middle-class consumers in the Asia-Pacific region, with nearly half open to using cryptocurrencies pegged to fiat currencies.Visa has expanded its stablecoin settlement network and is seeking to support more tokens and blockchains. Its partner Reap is preparing a local currency stablecoin for 24/7 foreign exchange settlements in Asia and other markets, which may include tokens for the Hong Kong dollar, South Korean won, and Japanese yen. Asia currently leads the world in stablecoin capital flows and on-chain activity, with payment companies driving the conversion of related demand into everyday payment products.

Linguard Labs is a financial technology infrastructure company headquartered in California, USA, founded by former Visa Head of Mobile Innovation Drew Weinstein, with former JPMorgan Global Chief Architect John Davies serving as Chief Technology Officer. Linguard Labs has acquired majority control of the Salvador Chivo wallet and announced the relaunch of the wallet through a public-private partnership.The Salvadoran government transferred the relevant majority stake under the guidance of the International Monetary Fund (IMF). The new Chivo will provide microloans and cash advances based on users' income, payment, and spending records within the wallet, and merchants can also apply for cash advances for business expansion, targeting unbanked and underbanked populations. The new program also includes fee-free remittances from the United States to El Salvador, as well as a debit card that supports cashback, allowing users to spend at merchants that do not yet accept cryptocurrency payments. Chivo currently has over 4.5 million registered users.

Swiss cryptocurrency wallet provider Tangem announced the launch of its first physical Visa card, supporting offline and online spending as well as ATM withdrawals, with an initial issuance limited to 5,000 cards. Users can directly top up the card from their self-custody wallets and transfer funds back to the wallet when the card is suspended or closed. The card also offers cashback settled in USDC stablecoin issued by Circle, with Basic users receiving 1% and Plus users receiving 2% on qualifying purchases. Tangem plans to showcase the first batch of physical Tangem Pay cards at the Token2049 event in Singapore.Tangem told Cointelegraph that over 40% of Tangem Pay's payments come from Latin America, with over 30% from the United States, while the supply of physical cards remains limited in some markets. Andrey Ilinskiy, head of Tangem Pay, stated that the issue is not just where people want crypto cards, but rather where demand, regulation, banking infrastructure, and issuance requirements align, and these maps do not always overlap.Tangem stated that it is currently unable to ship physical Tangem Pay cards to about 20 countries, including China, Russia, North Korea, and Palestine. The company noted that these restrictions do not necessarily align with the rules of cryptocurrency itself, as KYC requirements, sanctions, local banking rules, and issuance compliance may all determine the availability of crypto-linked cards.

According to data from paymentscan.xyz (first shared by The Kobeissi Letter), the payment volume processed by crypto cards has surged to a record $12.5 billion, a 140% increase year-to-date, and 247% higher than the levels in October 2025.The Kobeissi Letter indicates that this growth is driven by the increased use of stablecoins as a payment channel and the push for cheaper and faster cross-border transactions. QR code payments are another highlight, with demand for QR code consumption driving a 55% month-over-month increase in the number of activated cards for Jupiter Spend, which is one of the largest on-chain card providers.Major players are also entering the crypto card space. Fold Holdings (NASDAQ: FLD) announced earlier this year that it has begun issuing the Fold Bitcoin Credit Card to select members of its waitlist. This card operates on the Visa network and is supported by Stripe Issuing, usable at 175 million merchants, offering 1.5% Bitcoin cashback, up to 4%. Aven has launched the Aven Bitcoin Visa Card, allowing cardholders to borrow up to $1 million against Bitcoin collateral, with interest rates starting at 7.99%.

Visa stated that its stablecoin-linked card program's payment volume has increased by nearly 200% year-on-year, currently supporting over 160 consumer, business, and commercial card programs. Since the beginning of the 2026 fiscal year, approximately 17% of the stablecoin-linked card transaction volume has come from business and commercial card programs. Mark Nelsen, Visa's Global Head of Products, Commercial, and Cash Flow Solutions, stated that businesses are seeking reliable and trustworthy methods of fund transfer, and stablecoins are increasingly appearing in commercial applications such as vendor payments, treasury operations, and cross-border commerce.Allium research shows that payments are the fastest-growing use case for stablecoins, with annual payment volume estimated between $401 billion and $527 billion, including service fees, payroll, and vendor payments of $56 billion, $43 billion, and $28 billion respectively, with B2B cross-border payments accounting for 43%.

ZachXBT posted on platform X that UPay may allow the sanctioned illegal market Xinbi to issue its Visa crypto card and requested UPay to clarify the situation.ZachXBT stated that Xinbi is mainly involved in pig butchering scams, fraud, money laundering, and human trafficking.