Tinjun Wong

Tinjun Wong asked about Visa's investment in DPS and Pismo, the momentum in issuer processing, and whether the Total Addressable Market (TAM) for issuer processing has changed.

Answer

Ryan McInerney, Visa's Chief Executive Officer, confirmed that the TAM for issuer processing remains enormous, as banks globally seek to modernize their tech stacks and move to the cloud. He highlighted significant product and engineering investments in both DPS and Pismo, driving wins with traditional financial institutions and fintechs. Mr. McInerney emphasized Pismo's cloud-native capabilities for issuer processing and core banking as a key differentiator, enabling fintechs to scale internationally and assisting larger banks in their cloud migration journeys, despite long sales cycles.