American multinational financial services company that facilitates electronic payment systems throughout the world.
Visa Inc. is an American multinational financial services corporation headquartered in Foster City, California, United States. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards and debit cards. Visa does not issue cards, extend credit or set rates and fees for consumers; rather, Visa provides financial institutions with Visa-branded payment products that they then use to offer credit, debit, prepaid and cash-access programs to their customers. In 2009, Visa’s global network processed 62 billion transactions with a total volume of $4.4 trillion.
In September 2007, Visa introduced Visa payWave, a contactless payment technology feature that allows cardholders to wave their card in front of contactless payment terminals without the need to physically swipe or insert the card into a point-of-sale device. This is similar to the MasterCard PayPass service and the American Express ExpressPay, with both using RFID technology.
In 2013 Visa launched Visa Checkout, an online payment system that removes the need to share card details with retailers. The Visa Checkout service allows users to enter all their personal details and card information, then use a single username and password to make purchases from online retailers.
Despite the growing popularity of stablecoins, VISA and Mastercard downplayed any competitive risk during recent earnings calls.
Payment giants are rushing to adopt crypto strategies, with X likely offering crypto payouts by year’s end, says Fireblocks’ Ran Goldi.
Stablecoins’ supply saw explosive growth, rising by over 59% throughout the year and peaking at $200 billion in September.