VVisa Inc.

“we've been able to put products and services out in market that are performing at much higher levels than the market has seen. One example, I think I mentioned in my prepared remarks is our own Visa LLM that we've built based on billions of our own transactions, our own foundational model for payments, that we're now using to fuel a lot of these models and solutions. And it's having 2, 3, 4, in some cases, 5x improvements in value capture.”

“Our new Visa Large Transaction Model is beginning to act as the foundational model for a variety of AI-powered fraud and risk services at Visa. Early results have shown that it can power up to a 5x increase in fraud value capture.”

“We believe AI and agentic commerce will expand our addressable market in 4 important ways. First, like eCommerce and mobile commerce before it, agentic commerce will accelerate the digitization of commerce around the world. And just like the acceleration from eCommerce and mobile commerce, Visa will benefit. Second, agents will create significantly more transactions. Agents will intelligently split purchases across multiple transactions, optimizing price, timing and value to the buyer. And importantly, in some use cases, we expect agents will pay for their own data and resource consumption transaction by transaction and event by event, which creates an entirely new category of commerce with micro transactions. Third, we will see accelerated digitization of B2B payments, where there is still enormous friction that AI agents can help remove. They will be able to automate payment initiation directly from invoices and contracts and manage approvals autonomously. In this context, virtual cards and tokenization will become a preferred way to pay and be paid. And lastly, just like the advent of eCommerce and mobile commerce, agentic commerce will increase economic growth generally. Third parties estimate we are looking at a boost of 80 to 150 basis points of incremental GDP growth from AI and when GDP grows, spending grows and digital payments transactions grow.”

“We've been shipping new, especially AI-driven products in the issuing solutions space. We outperformed in the quarter in our AI-driven stand-in processing platform. We outperformed in our Visa supplier payment services platform. Those are two of the service -- issuing solution platforms. In the acceptance side of the business, our Visa account updater platform outperformed. That's one that allows merchants to automatically upstore credentials when you might have had fraud on your account and it was reissued or something like that. Look at our Risk and Security Solutions area, we saw outsized performance in VCAS, our Visa Consumer Authentication Service, or also in our VAA and VRM platforms, Visa Advanced Authorization and Visa Risk Manager. These are all products that we've been deploying in market, largely AI-driven products, and they've been driving broad-based out-performance across the value-added services portfolio.”

“the short answer is yes. We've really -- we've seen more demand across the board for our fraud products. And I think that's a signal of two things. One is the environment that we're living in. When I go talk to CEOs of clients around the world, whether they're issuers, acquirers or merchants, fraud is a top 3, top 4 concern for them. And that just wasn't the case several years ago. And fraud broadly defined, whether that's cyber or more traditional payments fraud, enumeration attacks and everything in between.”

“We recently launched Visa CLI as a proof of concept, which shows how easy it is for a developer, soon all of us, to use their Visa credential to pay for digital services like an image, a website builder or more via the CLI. The early feedback we have been receiving from developers is very positive. And as we move forward, we plan to enable CLI commerce at scale, which means scaling the availability of command line tools and card acceptance by promulgating standards, products, rules and pricing.”

“in agentic commerce, we're going to have more transactions that are initiated from authenticated tokens, which is good. Will further reduce fraud, will further protect the ecosystem. And the other benefit of agentic commerce is issuers and merchants are going to have more data on transactions. They're going to have data on user intent. They're going to have more data to include in the dispute processes and all of those types of things.”

“Visa is extraordinarily well positioned to win in agentic for 3 important reasons. Our network, security and trust. Our network has enormous scale, more than 175 million seller locations, 5 billion credentials in 200 countries and territories with nearly 14,500 financial institution clients who have opted in to using this network.”

“We recently launched Intelligent Commerce Connect, which acts as a network protocol and token vault agnostic on-ramp to agentic commerce for agent builders, merchants and enablers. Now while it's early, we are seeing growth in agentic shopping and the emergence of early agentic commerce, real transactions with Visa agentic tokens.”

“Our team has been integrating new AI-enabled features across our suite of VAS solutions, including the recent release of 6 dispute resolution capabilities. In fact, across all of our services, client adoption has been the fastest among AI embedded services such as Smarter Stand-In Processing and Visa Provisioning Intelligence.”

“With the AI landscape, we are seeing that Claude code and other agentic coding assistants will allow anyone to become a developer. It's that easy to work in simple command-style tools like the command line interface, or CLI. These agentic coding assistants are a great example of how we see AI and agentic commerce increasing economic growth as they enable anyone to bring their new business ideas to life.”

“the limiting factor for agentic commerce is trust. I think when we all think about ourselves as buyers and we all think about ourselves having agents go out and transact on our behalf, we are going to fall back on payment methods that we, as users, trust.”

“these services have durable competitive advantages as the vast majority are linked to transactions, cards and accounts, and they are only strengthened with AI, reinforcing their importance as a growth lever for years to come.”

“AI and agentic commerce will expand our addressable market, and our efforts will accelerate Visa's long-term growth.”

“We have transaction data at scale, and we will enhance that data with AI.”