บทวิเคราะห์ (Research)

Visa isn’t just a card network—it’s the core infrastructure layer that powers the modern economy. Its VisaNet system processes 65,000 transactions per second with 99.999% uptime, enabling commerce across 200+ countries. Visa operates a “tollbooth” model: it earns service fees from issuing banks based on card usage, and processing fees for clearing and settling each transaction—without taking on credit risk. In 2Q25, Visa processed $3.6tr in payment volume (+9% y/y), including a sharp +18% y/y surge in cross-border transactions, signaling global travel and trade recovery. Revenue rose 10% y/y to $8.8b, while net income climbed 14% to $4.7b, driven by robust transaction growth. With 4.8b credentials issued, Visa connects banks, wallets, merchants, and consumers—quietly powering the digital economy.