Earnings summaries and quarterly performance for VISA.
Research analysts who have asked questions during VISA earnings calls.
DP
Darrin Peller
Wolfe Research, LLC
8 questions for V
Also covers: ACN, ADYYF, AVDX +24 more
HR
Harshita Rawat
AllianceBernstein
8 questions for V
Also covers: ADYYF, FI, MA +3 more
SS
Sanjay Sakhrani
Keefe, Bruyette & Woods (KBW)
8 questions for V
Also covers: ALLY, AVDX, AXP +17 more
TC
Timothy Chiodo
UBS Group AG
8 questions for V
Also covers: AFRM, AVDX, CHYM +16 more
TH
Tien-tsin Huang
JPMorgan Chase & Co.
6 questions for V
Also covers: ACN, ADP, ALIT +23 more
AS
Andrew Schmidt
Citigroup Inc.
5 questions for V
Also covers: ALKT, BILL, CWAN +15 more
BK
Bryan Keane
Deutsche Bank
5 questions for V
Also covers: ACN, ADP, AVDX +15 more
JK
Jason Kupferberg
Bank of America
5 questions for V
Also covers: ACN, ADP, AFRM +14 more
Trevor Williams
Jefferies LLC
4 questions for V
Also covers: ACIW, CPAY, FIS +8 more
DD
Dan Dolev
Mizuho Financial Group
3 questions for V
Also covers: ACN, ADP, AFRM +14 more
DK
David Koning
Robert W. Baird & Co.
3 questions for V
Also covers: ACN, AVDX, CNXC +16 more
Fahed Kunwar
Redburn Atlantic
3 questions for V
Also covers: MA, NWG
GG
Gus Gala
Monness, Crespi, Hardt & Co., Inc.
3 questions for V
Also covers: EEFT, WU
NS
Nate Svensson
Deutsche Bank
3 questions for V
Also covers: AFRM, CPAY, DAVA +8 more
Rayna Kumar
Oppenheimer & Co. Inc.
3 questions for V
Also covers: EEFT, EFX, FIS +9 more
Will Nance
Goldman Sachs
3 questions for V
Also covers: AFRM, AMTD, CHYM +14 more
Craig Maurer
FT Partners
2 questions for V
Also covers: AVDX, AXP, MA +3 more
Daniel Perlin
RBC Capital Markets
2 questions for V
Also covers: AFRM, BR, FLYW +9 more
JF
James Faucette
Morgan Stanley
2 questions for V
Also covers: ACN, ADP, AFRM +24 more
JF
James Fawcett
Morgan Stanley
2 questions for V
Also covers: CHYM, UPST
Ramsey El-Assal
Barclays
2 questions for V
Also covers: ACN, ADP, AFRM +20 more
TW
Tianchen Wang
JPMorgan Chase & Co.
2 questions for V
WN
William Nance
The Goldman Sachs Group, Inc.
2 questions for V
Also covers: AFRM, AMTD, AVDX +19 more
Adam Frisch
Evercore ISI
1 question for V
Also covers: AFRM, CHYM, FOUR +2 more
AJ
Andrew Jeffrey
William Blair & Company
1 question for V
Also covers: AFRM, CHYM, CPAY +6 more
BB
Bryan Bergin
TD Cowen
1 question for V
Also covers: ACN, ADP, ASUR +17 more
DG
Dominick Gabriele
Compass Point Research & Trading, LLC
1 question for V
Also covers: AVDX, BFH, JKHY +2 more
JC
Jeff Cantwell
Seaport Research Partners
1 question for V
Also covers: ACIW, AFRM, CRCL +5 more
KS
Ken Szychowski
Anonymous Research
1 question for V
PG
Paul Golding
Macquarie Capital
1 question for V
Also covers: CIFR, CLSK, CORZ +11 more
Recent press releases and 8-K filings for V.
Flutterwave acquires Mono
V
M&A
- Flutterwave has acquired open-banking startup Mono in an all-stock deal valued between $25 million and $40 million, deepening its infrastructure ahead of a potential IPO.
- The deal is expected to lower Flutterwave’s per-transaction account-to-account costs by at least 10% and allow it to bypass expensive international card rails, boosting margins.
- Mono brings approximately 100 billion financial data points from 8 million linked accounts, providing a critical data/connectivity layer for lending, identity verification and onboarding in thin-credit markets.
- Flutterwave, last valued at about $3 billion, operates in roughly 35 African countries, supports payments in over 30 currencies and processes about 500,000 transactions daily.
6 days ago
Visa client BlackOpal launches GemStone to tokenize Brazilian credit card receivables
V
Product Launch
New Projects/Investments
- BlackOpal launched GemStone, an institutional product to tokenize Brazil’s $100 billion credit card receivables market, anchored by a US$200 million, three-year facility structured by Mars Capital Advisors.
- GemStone acquires receivables as True Sale, registers ownership via Brazil’s Central Bank C3 Registry, and routes collections through Visa and Mastercard rails to eliminate credit risk.
- With an asset capacity exceeding $1 billion and a zero-default track record from its predecessor product, GemStone aims to be the primary access point for global institutional capital in Brazilian credit card financing.
6 days ago
Zilch to acquire Fjord Bank for European expansion
V
M&A
New Projects/Investments
- Zilch will acquire Lithuania-based AB Fjord Bank, gaining a fully regulated European banking license and a balance sheet of $120 million.
- Vilnius will become Zilch’s European headquarters, providing the operational and regulatory platform for its continental rollout.
- The transaction is expected to close in 2H 2026, subject to regulatory approvals.
- Over the past year, Zilch raised $175 million in debt and equity, generated $200 million in revenue, secured a second FCA payment license, launched its Intelligent Commerce AI product, and surpassed 5.5 million registered customers.
6 days ago
Zilch acquires Fjord Bank to launch European expansion
V
M&A
- Zilch signed an agreement to acquire 100% of AB Fjord Bank, a Lithuanian bank with ~$120 million in assets, to secure a European banking license and accelerate its pan-European deployment.
- The transaction is expected to close in H2 2026, pending regulatory approvals.
- Zilch will establish its European headquarters in Vilnius, combining Fjord Bank’s banking license with Zilch’s AI-driven credit technology to expand its consumer credit and savings offerings across Europe.
- This deal follows a transformative year in which Zilch raised >$175 million, surpassed $200 million in annual revenue, and grew to 5.5 million customers, underscoring its rapid growth trajectory.
6 days ago
Zilch to acquire Fjord Bank to expand in Europe
V
M&A
- Zilch has signed an agreement to purchase 100% of Fjord Bank, a Lithuania-based bank with approximately $120 million in total assets, providing it with a European banking licence.
- The acquisition will establish Vilnius as Zilch’s European headquarters, serving as its operational and regulatory platform for expansion across Europe.
- Fjord Bank, launched in 2021, is a profitable, fully regulated challenger bank offering online consumer lending and savings products with a strong reputation for trust and digital delivery.
- The deal, marking a key strategic milestone after Zilch’s recent growth—5.5 million registered customers and $200 million in annual revenue—is expected to close in H2 2026, subject to regulatory approvals.
7 days ago
Zilch to acquire Fjord Bank, gain EU banking licence
V
M&A
New Projects/Investments
- Zilch agreed to acquire Lithuania-based Fjord Bank for about $38 million, establishing its European HQ in Vilnius and securing a banking licence to expand across the EU.
- Fjord Bank holds roughly $120 million (€103 million) in assets, operates in multiple EU countries, and is regulated by the Bank of Lithuania and the ECB.
- The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
- Over the past year, Zilch raised US$175 million in debt and equity, surpassed US$200 million in annual revenue, launched its AI-driven commerce product, and reached 5.5 million registered customers.
7 days ago
V
Share Buyback
Legal Proceedings
- On December 30, 2025, Visa announced new conversion rates for its class B-1 and B-2 common stock following a $500 million deposit into the U.S. litigation escrow under its retrospective responsibility plan.
- The class B-1 conversion rate decreased from 1.5549 to 1.5491, while the class B-2 conversion rate fell from 1.5223 to 1.5108, effective December 23, 2025.
- These adjustments effectively reduced as-converted share counts by ~27,782 shares for class B-1 (to 7,490,714) and ~1,382,832 shares for class B-2 (to 181,804,989).
- The calculations used the volume-weighted average price over the three-day pricing period from December 23 to 26, 2025, per Visa’s certificate of incorporation.
Dec 30, 2025, 9:07 PM
Visa-backed Nexa Cards enters acquisition talks with OX Agency
V
M&A
- Nexa Cards, a global fintech platform offering reloadable stored-value cards, has initiated discussions to potentially acquire OX Agency, a developer of facial recognition and AI-based identity verification technology.
- The transaction aims to integrate real-time biometric verification and AI-driven risk analysis into Nexa’s onboarding, transaction monitoring, and platform security to enhance fraud prevention and regulatory compliance.
- Any deal remains subject to customary due diligence, execution of definitive agreements, and regulatory approvals, with no assurance of completion or final terms.
- Nexa Cards is concurrently in Phase 2 of its presale to fund ongoing card infrastructure development, security enhancements, and global user onboarding.
Dec 25, 2025, 7:30 AM
Visa partners with Movement Network and KAST to enable stablecoin payments
V
Product Launch
- Movement Network and mobile-first payments platform KAST collaborate to allow users to pay with stablecoins anywhere Visa is accepted, covering 150+ million merchants globally.
- Over 500,000 KAST users can earn $MOVE tokens on each transaction, with KAST cardholders receiving an additional 4% $MOVE token reward on daily crypto spending alongside existing KAST points.
- The partnership introduces the industry's first dual rewards mechanism, enabling simultaneous accrual of KAST points and $MOVE tokens, redeemable within the KAST app.
- Visa data show Q4 stablecoin card spending grew fourfold, and the collaboration aims to integrate stablecoins into everyday spending and blockchain participation.
Dec 24, 2025, 6:52 AM
Visa partners with KAST to enable stablecoin payments at 150M merchants
V
Product Launch
New Projects/Investments
- Visa’s Movement Network and KAST team up to allow cryptocurrency payments at over 150 million Visa acceptance points worldwide
- More than 500,000 KAST users can now earn 4 % cashback in $MOVE tokens on transactions, plus existing KAST-Points, via the first dual rewards system from Movement
- Partnership leverages last year’s $9 trillion+ stablecoin transaction volume and Visa’s Q4 fourfold increase in stablecoin-based card spending
- Initiative marks Movement’s first spending rewards program and advances its People’s Chain vision for accessible, mobile-first blockchain payments
Dec 24, 2025, 6:52 AM
Quarterly earnings call transcripts for VISA.
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