Visa Press Releases

Visa Releases First-of-Its-Kind Industry Benchmark for AI Shopping; Almost Half of Test Runs Fail

Thu, 05 Nov 2026 09:43:00 -0500

First-of-its-kind¹ benchmark tests AI in realistic shopping scenarios—and consumers can try the test, too
AI should uncover customer needs and make an informed purchase decision; models failed 42.8% of test runs
Benchmark creates a roadmap for industry players to deliver better agentic shopping experiences

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V) today launched Visa Agentic Commerce Benchmark, a new benchmark for industry that puts leading AI models through realistic buying challenges—and is letting people take the test, too.

Shopping is a difficult task for AI because consumers often do not clearly know what they want at the outset—for example, they may know they want a TV, but not all the required specifications. Under Visa’s new benchmark, AI models are required to identify the needs of a consumer based on a conversation. If nothing fits the customer’s requirements, the AI should opt not to buy. To prevent lucky guesses, the AI must uncover enough information to justify its decision.

The first round of tests involved 22 different AI models from 12 labs taking on 15 shopping challenges like buying a TV, laptop, or personal care appliance.

The Results

Room for improvement: Across testing, selected AI models achieved an overall benchmark pass rate of about half (57.2%). The best performing models passed 82.2% of attempts, the worst 28.9%.
The more you know: The five AI models that uncovered the most hidden buying factors using conversation flows with the consumer averaged a 70.2% pass rate. The five that uncovered the least passed less than half (44.4%) of the time.
Pricy models win, but do not guarantee success: The five models with the highest average cost per run passed 67.1% of runs, compared with 50.2% for the five least expensive.
Consistency is an issue: Every model got three attempts at each shopping scenario. Across all models and scenarios, all three attempts passed just 34.2% of the time.
Buyer beware: About 1-in-2 (54%) of failed runs still ended in the AI making a purchase. Either the AI recommended a purchase that did not meet the customer’s identified requirements, or it failed to uncover all the customer’s requirements.

“AI agents have the potential to power the next era of commerce, but trust is key to making it work,” said Rubail Birwadker, Global Head of Growth at Visa. “Visa Agentic Commerce Benchmark is yet another way Visa is working to boost standards across the industry.”

Superintelligence Sweep

In one scenario, the customer asks for help choosing a new TV. They mention their relative has recommended a brand of television, and that they hold a membership with a third-party supplier—but leave other details unsaid.

Through conversation, the AI must uncover the customer’s budget and additional requirements—such as format compatibility, HDR10+® technology support for family videos, and gaming capabilities.

Models that were better at uncovering the customer’s requirements tended to pass more often. But when made to repeat a scenario they had already passed, the same models often failed—showing how difficult it is to deliver a consistent consumer experience.

Eliminating errors and improving consistency is crucial to building trust in agentic commerce, which is still relatively low today. Visa’s Trust Index, released in September 2026, found that while 72% of U.S. consumers had used an AI assistant, only 23% trusted AI to handle payment transactions on their behalf. Visa Intelligent Commerce, Visa’s portfolio of products, programs and partnerships for agentic commerce, is designed to tackle this challenge.

Visa plans to add other shopping scenarios and product categories to Visa Agentic Commerce Benchmark, and will extend testing to checkout, payment, and order placement. Visa has shared the benchmark with leading model providers for feedback.

Visit Visa Payments Frontier to attempt Visa Agentic Commerce Benchmark yourself, watch replays of AI attempts, and dig deeper into the research with the Visa Agentic Commerce Benchmark whitepaper.

FAQs

Is Visa Agentic Commerce Benchmark part of Visa Intelligent Commerce?

Not directly. Visa Intelligent Commerce is a portfolio of products, programs and partnerships that help bring trust to agentic commerce. The benchmark is complementary research designed to benefit the wider industry.

Is Visa saying AI agents aren’t ready for commerce?

No. The results show promising capabilities, with the highest-scoring models each passing 82.2% of attempts. But consistency and reliability remain challenges.

Is Visa Agentic Commerce Benchmark publicly available?

Yes. Anyone can explore the research and interactive experience on Visa Payments Frontier, including consumers, researchers, developers, merchants, clients and AI companies.

Why is Visa benchmarking AI models?

To help make agentic commerce more reliable. The benchmark gives the industry a consistent way to understand where AI shopping works today and what still needs to improve.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

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¹ Visa Agentic Commerce Benchmark is the first agentic commerce benchmark to require both discovery of every task-defined customer requirement and a correct purchase or no-purchase decision for a run to pass.

Media contact
Conor Febos – press@visa.com

Source: Visa

Visa Forecasts U.S. Holiday Spending to Rise 4.5% as Consumers Keep the Holidays a Priority

Thu, 05 Nov 2026 07:00:00 -0500

Visa Business and Economic Insights expects strongest holiday sales growth since 2021, as income growth supports spending and consumers prioritize gifts amid higher travel costs

Key findings from VBEI’s 2026 U.S. Holiday Spending Outlook include:

U.S. holiday retail sales are forecast to rise 4.5% year over year, marking the strongest holiday sales growth since 2021.
On average, consumers plan to spend $777 on holiday gifts, up 5.6% from 2025, signaling continued willingness to spend even as shoppers remain value-conscious amid elevated inflation.
Physical gifts are winning a greater share of holiday budgets, as higher travel costs lead many consumers to prioritize merchandise over experiences.

SAN FRANCISCO--(BUSINESS WIRE)-- U.S. consumers are poised to keep the registers ringing this holiday season. New research from Visa Business and Economic Insights (VBEI) forecasts U.S. holiday retail sales will rise 4.5% year-over-year in November and December, the strongest growth since 2021.

The outlook points to continued consumer resilience, supported by solid income growth and household wealth, even as inflation influences where holiday dollars go. VBEI expects prices for holiday-related goods to rise approximately 3.4%, with inflation-adjusted holiday spending increasing 1.1%.

“Consumers are heading into the holidays with the capacity and willingness to spend, even if they’re being thoughtful about where those dollars go,” said Michael Brown, principal U.S. economist at Visa. “Income growth continues to provide an important foundation for spending, and while higher prices remain part of the picture, we expect another healthy holiday season.”

Consumers are spending more, even as they stay selective
Consumers say they plan to spend an average of $777 on holiday gifts this year, up from $736 in 2025, an increase of 5.6%.

That willingness to spend comes as consumers continue to adapt to higher prices. Roughly one-third of consumers earning less than $100,000 say they plan to switch to lower-cost brands or stores for holiday gifts compared with last year, underscoring the continued importance of value.

Travel tops wish lists, but consumers are prioritizing physical gifts
Consumers may be dreaming about experiences, but their holiday budgets tell a more traditional story. More than half of survey respondents put travel and live events at the top of their holiday wish lists, yet only 15% say they are prioritizing spending on experiences, compared with 27% prioritizing physical gifts.

Higher travel costs are contributing to that disconnect. VBEI analysis of anonymized Visa credit card transactions found that households earning more than $200,000 were the only income group to increase both holiday airfare bookings and spending in September, with trips booked up 29% and spending up 38% from a year earlier. In contrast, lower-income groups pulled back sharply on airfare booking and spending.

That could work in retailers’ favor. Because VBEI’s holiday sales measure focuses on retail and excludes travel and dining, dollars that might otherwise have gone toward holiday trips could instead flow toward physical gifts and other merchandise.

A resilient consumer enters an uncertain season
Despite slower job creation, positive real income growth and elevated household wealth continue to support consumer spending heading into the holidays. At the same time, shoppers remain attentive to prices, reinforcing a holiday season defined by both willingness to spend and a continued focus on value.

“Consumers are still spending, but they’re making deliberate choices about where their holiday dollars go,” Brown said. “That combination of healthy spending and continued focus on value is likely to define this holiday season.”

Read the full 2026 U.S. Holiday Spending Outlook report: Home for the holidays: spending stays closer to home.

About Visa Business and Economic Insights (VBEI)
Visa Business and Economic Insights (VBEI) provides data-driven analysis of global economic trends, consumer spending patterns and the evolution of digital commerce, drawing on proprietary VisaNet transaction data, economic modeling and third-party research. The team publishes regular research across macroeconomics, consumer behavior and payments innovation. To subscribe: https://globalclient.visa.com/visaeconomicnews-subscribe.

About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Forward-Looking Statement

This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to, among other things, our economic outlook. Forward-looking statements are generally identified by words such as "believes," "estimates," "expects," "intends," "may," "projects," "could," "should," "will," "continue" and other similar expressions. All statements other than statements of historical fact could be forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond our control and are difficult to predict. We describe risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, any of these forward-looking statements in our filings with the SEC. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future events or otherwise.

Disclaimer
The views, opinions, and/or estimates, as the case may be ("views"), expressed herein are those of the Visa Business and Economic Insights team and do not necessarily reflect those of Visa executive management or other Visa employees and affiliates. This release and related content, including estimated economic forecasts, statistics and indexes, are intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice and do not in any way reflect actual or forecasted Visa operational or financial performance. Visa neither makes any warranty or representation as to the completeness or accuracy of the views contained herein, nor assumes any liability or responsibility that may result from reliance on such views. These views are often based on current market conditions and are subject to change without notice.

Media Contact
Raelle Alfaro | press@visa.com

Source: Visa Inc.

Secret SantAI? Visa Survey Finds Americans Quietly Turning to AI for Holiday Shopping Help

Fri, 30 Oct 2026 08:00:00 -0400

Two-thirds of U.S. consumers open to AI assistance this holiday season; Gen Z leads the way

Fraud concerns remain top of mind with three-quarters of Americans taking precautions to safeguard themselves from losses

SAN FRANCISCO--(BUSINESS WIRE)-- There may be a Secret Sant-AI behind your presents this year. New Visa research finds 41% of Americans wouldn't tell someone that AI helped choose their gift as more shoppers quietly hand AI the job of finding gifts and tracking down deals. More than half of U.S. adults (54%) have already used AI for at least one shopping task, up from 47% last year.

The findings come from Visa's 2026 Holiday Spending Shift Survey, which polled more than 1,000 U.S. adults in late September in a survey commissioned by Morning Consult. The data paints a picture of consumers juggling persistent cost pressures, evolving technology and heightened fraud concerns, while still finding ways to check every box on their gift lists.

“Consumers are approaching the holidays with both value and security in mind,” said Michael Brown, principal U.S. economist at Visa. “They’re looking for deals, experimenting with tools like AI and changing how they shop in response to fraud concerns. It’s a consumer who is adapting as the shopping experience itself continues to change.”

AI Becomes a Holiday Helper

Shoppers are most comfortable handing AI the practical tasks: comparing prices (61%), checking availability (59%), finding discounts (57%) and suggesting gift ideas (54%). Nearly a quarter say they're more comfortable using AI for shopping than they were last year.

Gen Z is leading the shift. More than eight in 10 young consumers are open to AI assistance, and 73% would let it suggest gift ideas — 19 points higher than adults overall.

But there's a gap between browsing and buying. While consumers are increasingly comfortable using AI assistants for discovery, research and decision-making, trusting one to make a purchase is a bigger leap — only 23% of U.S. consumers trust GenAI to handle payment transactions on their behalf, according to the Visa Trust Index. It's a familiar pattern: the technology often arrives before consumers fully trust the experience, similar to when payments moved online and again when commerce went mobile.

What shifts the equation? Familiar brands. The Visa Trust Index found that 61% of consumers trust Visa to secure an AI-powered payment — rising to 68% among 18–34-year-olds and 71% among frequent AI users. As agentic commerce grows, that confidence may be what bridges the gap between AI as a shopping assistant and AI as a shopping agent.

Shoppers Stretch Budgets as Costs Stay Top of Mind

Cost-conscious shopping isn't going anywhere. Eighty-four percent of consumers say they've taken at least one action to manage higher everyday costs in the past year — most commonly hunting for discounts (47%), cutting discretionary spending (35%) and trading down to lower-cost brands (33%).

Experiences Top Wish Lists, But Physical Gifts Win Wallets

Besides cash, when it comes to gifts, Americans are dreaming of experiences. Travel (60%) and live-event tickets (55%) top the list of what people are most excited to give or receive.

But actually buying gifts tells a different story. Only 15% of respondents are prioritizing experiences, while 27% are focused on physical items. Gen Z comes closest to aligning their wallets with their wishes-- 39% are splitting spending evenly between the two, compared to 26% of all adults.

FIFA World Cup 2026 ™ Fever Shapes Gift-Giving

The FIFA World Cup 2026 ™ is leaving its mark on holiday lists. Nearly a third of Americans say the tournament has boosted their interest in sports-related gifts, a figure that climbs to about half among households earning $100,000 or more and adults under 35.

Cross-Border Shopping Goes Mainstream

Three in 10 Americans expect to buy at least one gift from an overseas seller this season. Among Gen Z, it's more than half.

The draw isn't just price. Quality (32%) and uniqueness (31%) are the top reasons shoppers are looking beyond U.S. borders, ahead of better deals (25%).

Gen Z and Cross-Border Senders Warm to Stablecoins and Crypto

Stablecoins are still new to many Americans, but more than half (56%) see a benefit, rising to 77% of Gen Z. Among Americans who send money abroad, 51% say that after seeing the benefits, they are likely to use stablecoins in the next year.

Crypto resonates with the same groups. Half of those who send money abroad (51%) call it a useful way to do so, against 26% of adults. Gen Z is more comfortable shopping with a retailer that accepts crypto (34% vs. 25%).

Fraud Concerns Drive Behavior Change

The convenience of digital shopping comes with growing unease about scams. Nearly three in 10 shoppers say they were targeted by fraud during last year's holiday season, a figure that rises to 39% among Gen Z.

In response, three-quarters of Americans have changed how they shop: enabling two-factor authentication (34%), changing passwords more often (34%), declining to save payment details (25%), switching from debit to credit cards (24%) and using digital wallets (21%).

"Consumers are navigating a lot this season, from higher costs, new technology and real concerns about fraud," said Brown. "But they're adapting. They're hunting for deals, shopping smarter and staying alert. That resilience is the real story."

About the 2026 Holiday Spending Shift Survey

This poll was conducted by Morning Consult on behalf of Visa among a national sample of 1,016 U.S. adults. Surveys were conducted online from September 26 to October 2, 2026. Results are weighted to approximate a target sample of the U.S. general population based on age, gender, race, educational attainment and region. The margin of error is plus or minus 3 percentage points for the total sample. The study covers holiday and year-end spending plans, gifting and shopping channels, the use of AI in shopping, exposure to fraud and scams, and attitudes toward cryptocurrency and stablecoins.

About Visa

Meg Omecene
momecene@visa.com

Source: Visa Inc.

Visa Fiscal Fourth Quarter and Full-Year 2026 Financial Results

Tue, 27 Oct 2026 16:05:00 -0400

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V) today announced its fiscal fourth quarter and full-year 2026 financial results through an earnings release that will be furnished with the Securities and Exchange Commission on a Form 8-K and available on its Investor Relations website at investor.visa.com/financial-information/quarterly-earnings/default.aspx.

Visa will host a live audio webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results. The webcast and all related materials can also be accessed through Visa’s Investor Relations website at investor.visa.com.

About Visa

Investor Relations: Jennifer Como, 650-432-7644, InvestorRelations@visa.com

Media Relations: Fletcher Cook, 650-432-2990, Press@visa.com

Source: Visa Inc.

Visa to Participate in Upcoming Investor Conferences

Thu, 22 Oct 2026 16:05:00 -0400

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V) today announced its participation in the following investor conferences.

On Monday, November 9, Chris Suh, Chief Financial Officer, will present at the Citi FinTech Conference. The discussion will begin at 9:00 a.m. Eastern Time and last for approximately 35 minutes.

On Tuesday, November 10, Andrew Torre, President, Value-Added Services, will present at the KBW Fintech Ecosystem Conference. The discussion will begin at 1:55 p.m. Eastern Time and last for approximately 40 minutes.

On Tuesday, December 1, Mr. Suh will present at the UBS Global Technology and AI Conference. The discussion will begin at 8:15 a.m. Mountain Time and last for approximately 30 minutes.

On Tuesday, December 8, Ryan McInerney, Chief Executive Officer, will present at the Wells Fargo TMT Summit. The discussion will begin at 8:00 a.m. Pacific Time and last for approximately 35 minutes.

Listen-only audio webcasts and replays will be accessible for 30 days following each event and available on the Investor Relations website at investor.visa.com.

About Visa

Investor Relations: Jennifer Como, 650-432-7644, InvestorRelations@visa.com

Media Relations: Fletcher Cook, 650-432-2990, Press@visa.com

Source: Visa Inc.

Visa Announces Enhanced Capabilities That Can Bring Trust and Control to the Future of Business Payments

Wed, 21 Oct 2026 07:00:00 -0400

New offerings include enhanced supplier-spend analytics, virtual-card fraud prevention capabilities and a live pilot enabling trusted AI agents to complete B2B invoice payments

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V) announced three capabilities across commercial card growth, virtual card security and agentic commerce for commercial payments. The capabilities are designed to help financial institutions, fintechs and businesses automate payment processes while maintaining the trust, visibility and control those transactions require for the future.

The enhanced capabilities include:

SESA 2.0, the next generation of Supplier Enablement Spend Analytics, uses AI-driven spend analysis and predictive insights to help clients identify high-potential supplier opportunities. The enhanced platform helps organizations prioritize resources, focus enablement efforts and estimate the economic value of their commercial card program.
Visa Commercial Fraud Solutions, a new suite of capabilities designed to help issuers and businesses validate suppliers, authenticate virtual-card payment activity and apply controls before a payment is approved.
A live agentic pilot with BILL and Billtrust that enables trusted AI agents to initiate and help complete approved invoice payments through supplier portals, using Visa Intelligent Commerce and Visa’s Trusted Agent Protocol.

“Businesses are moving quickly to automate the work around payments, from identifying supplier opportunities to approving invoices and executing transactions,” said Darren Parslow, global head of Visa Commercial Solutions. “These capabilities are designed to help them do that with the data, security and controls they need - whether they are growing commercial card acceptance, helping protect virtual-card payments from fraud, or testing how trusted AI agents can act on their behalf.”

Helping financial institutions find commercial card growth

Visa today announced the next generation of Supplier Enablement Spend Analytics, SESA 2.0. Building on four years of experience in helping financial institutions evaluate supplier payment opportunities, SESA 2.0 combines AI-driven supplier scoring, Visa commercial payments data, buyer benchmarks and business-value modeling. Together, these capabilities help financial institutions identify suppliers that may be more likely to accept commercial card payments and estimate potential commercial card growth opportunities. Since launch, SESA has helped financial institutions uncover more than $600 billion in potential cardable spend.¹

As business payments become more digital, financial institutions need both a clear view of where card acceptance opportunities may exist and the information to evaluate those opportunities with confidence. Enhanced visibility into card acceptance can help suppliers and buyers make more informed decisions as they modernize payment flows.

Strengthening trust in commercial virtual card payments

Visa today announced Visa Commercial Fraud Solutions, a suite of capabilities designed to help strengthen security across commercial virtual card payments and support more trusted, automated payment experiences.

Juniper Research projects global B2B virtual card payment volume will reach $14.6 trillion by 2029, representing 83% of the global virtual card market. As adoption grows, organizations face increasing pressure to verify suppliers, authenticate users and help ensure payments are made as intended.

Visa Commercial Fraud Solutions provides protection across three key stages of a commercial payment:

Visa Commercial Supplier Validation helps verify payments are sent to the intended supplier.
Visa Commercial Virtual Authentication helps verify commercial virtual card users through 3-D Secure authentication.
V isa Commercial Payment Controls enables businesses to set transaction-level controls, including spend, merchant category, location and timing parameters.

Visa Commercial Payment Controls are available in supported countries and territories to eligible issuing financial institutions. Visa Commercial Virtual Authentication and Visa Commercial Supplier Validation are currently in pilot and will be generally available in 2027.

Testing how trusted AI agents can complete business payments

Visa, BILL and Billtrust have also launched a live pilot that enables trusted AI agents to initiate and complete approved business invoice payments through supplier portals.

The pilot draws from Visa Intelligent Commerce and Visa's Trusted Agent Protocol to help establish the agent’s identity, confirm that it is authorized to act and ensure that the transaction follows business-defined controls and visibility. Instead of relying on shared supplier-portal login credentials, it uses tokenized payment credentials and connects buyer-side invoice approval with supplier-side payment acceptance. This gives businesses a way to test automated execution while maintaining visibility into who is acting, what the agent is permitted to do, and which transactions have been approved.

The pilot is currently live and processing end-to-end transactions with participating BILL customers and Billtrust suppliers.

Building a trusted foundation for automated commerce

As business payments are automated, trust can become a foundation that allows automation to scale. The future of commercial payments may depend not only on how quickly money can move, but also on whether every participant, credential and action can be identified, authenticated and governed. That can require reliable data, trusted identities and fraud controls that are designed to help approved transactions execute as intended. Visa is making investments across the payment process to help businesses maintain confidence in who is acting, what is authorized and how payments are completed. By embedding trust into every stage of the transaction process, Visa is helping businesses move from approved decisions to execution with greater speed, security and control.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe economies that include everyone everywhere uplift everyone everywhere, and we see access as foundational to the future of money movement. Learn more at Visa.com.


¹ Source: Visa Supplier Enablement Spend Analytics tool, aggregated supplier opportunity identified by the tool from 2021-2026.

Media Contacts
press@visa.com
Conor Febos

Source: Visa Inc.

Visa, BILL and Billtrust Launch First Live Pilot for Trusted AI Agent Payments Between Buyer and Supplier Platforms

Tue, 20 Oct 2026 08:00:00 -0400

Demonstrates how trusted AI agents are moving beyond automation to act on behalf of buyers and suppliers in real-world commercial transactions.

LAS VEGAS--(BUSINESS WIRE)-- Visa (NYSE: V), BILL (NYSE: BILL) and Billtrust today announced they have launched the first live pilot to enable trusted AI agents to initiate and complete approved buyer invoice payments end-to-end through supplier portals.

Until now, many payment portals relied on human authentication requirements that limited how approved payments could be automated. Together, with leading accounts payable and receivable solutions providers BILL and Billtrust, the Visa Intelligent Commerce^TM portfolio helps bridge that gap. Leveraging offerings such as Visa Trusted Agent Protocol, AI agents can now be securely authenticated to credentialed portals. As a result, buyer payments that previously relied on manual entry can be completed by trusted AI agents, while preserving supplier control and oversight.

How trusted AI agents are overcoming one of payment automation’s biggest barriers

The flow begins when the authorized BILL Payment Agent — registered using Visa’s Trusted Agent Protocol and Agentic Directory — uses tokenized payment credentials and controls aligned with the buyer’s approved payment instructions to issue payments on behalf of BILL's customers. Supported by capabilities within the Visa Intelligent Commerce (VIC) portfolio, this enables BILL to securely automate card payments for supplier invoices.

Once the payment is initiated, Billtrust leverages Visa's Trusted Agent Protocol to recognize, authenticate, and grant access to the authorized agent enabling BILL to complete the invoice payment on the customer's behalf. This agent authentication can satisfy the site protections historically provided by CAPTCHA and other bot blocking mechanisms, without requiring an additional agent login. As a result, Billtrust customers can receive fast portal payments in accordance with their acceptance policy, which can help accelerate cash flow.

“Businesses should not have to choose between automation and control when making payments,” said Mark Nelsen, SVP and Head of Product, Commercial & Money Movement Solutions, Visa. “This pilot applies agentic commerce to a real B2B-payment problem, by having trusted agents complete payments across platforms. Working with BILL and Billtrust, we are testing how identity, payment controls and transaction visibility can make that model work.”

Building trust into agent-initiated B2B payments

Drawing on capabilities within the Visa Intelligent Commerce portfolio, including Visa's Trusted Agent Protocol, the pilot enables:

A recognized and authenticated AI agent acting on behalf of an identified buyer
Tokenized payment credentials rather than shared supplier-portal logins
Payment controls tied to the customer’s approved payment instruction
A purpose-built payment path tied to the specific invoice
Visibility into the authorization and completion of the payment

"Nearly 500,000 businesses trust BILL to move, manage and maximize their money, and that trust depends on removing friction without sacrificing accuracy and security of supplier payments. For too long, supplier portals have been friction points, requiring a person to manually complete what should be an automated step,” said Archana Prasad, SVP of Payments and Financial Services at BILL. “With Visa and Billtrust, BILL’s AI-powered payments technology is closing that gap: the payment gets done, the supplier gets paid faster, and finance teams get their time back."

For suppliers using Billtrust, the pilot creates a way to recognize and accept payments initiated by trusted business agents, helping release trapped cash while retaining the information needed to process and reconcile the payment within their existing payment acceptance policy. For buyers using BILL, automating this last manual step can give finance teams back the time they'd spend manually keying information into supplier payment portals.

“Agentic commerce will only move forward if businesses can trust agents to operate across systems with the same clarity and accountability they expect from people,” said Kunal Patel, SVP Payments, Billtrust. “By connecting buyer-side invoice approval with supplier-side payment acceptance, this pilot shows how authorized agents can complete business transactions, releasing trapped cash faster while adhering to a complex acceptance policy and preserving visibility and control for both sides.”

The pilot is currently live and processing end-to-end transactions with participating buyers using BILL and Billtrust suppliers. As the pilot progresses, Visa, BILL, and Billtrust will continue exploring opportunities in agentic payments. To learn more about Visa Intelligent Commerce and how Visa is building trust into agentic commerce, visit Visa.com.

About Visa

About BILL

BILL (NYSE: BILL) is the intelligent finance platform trusted by nearly half a million businesses and their accountants to manage, move, and maximize their money. BILL powers businesses ranging from fast-moving startups to growing companies with complex operations. We use AI to deliver strategic finance capabilities in one integrated platform that includes AP, AR, expenses, forecasting, procurement and more. With a member network of more than 9 million, BILL’s platform processes ~1% of US GDP annually. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and software providers. For more information, visit bill.com.

About Billtrust

Billtrust is the B2B Cash Generation Platform built to release the cash trapped in accounts receivable faster, while maintaining relationships that earn repeat business. Finance leaders use Billtrust as a single, converged system for the full credit-to-cash cycle, converting earned revenue into cash they can predict, defend, and deploy. Powered by the largest B2B buyer network in the industry, with more than 20 million buyers and $1 trillion in annual trade credit volume, Billtrust turns AR data into the intelligence that makes cash generation effortless.

FAQ

What is this pilot?
Visa, BILL and Billtrust are piloting how an authorized AI agent can complete approved invoice payments on behalf of a buyer. Today, that final payment step often requires an employee to manually log into a supplier portal and submit payment information. The pilot explores how trusted agents can complete that task while maintaining buyer-defined controls and visibility.

Why does this matter?
It addresses one of the last major manual steps in many accounts payable workflows.

What role does Visa play?
Visa can help establish trust by enabling agent recognition, tokenized payment credentials and payment controls.

How could buyer and supplier platforms benefit from this model?
Under this pilot, buyer-side platforms such as BILL could expand card-payment opportunities to suppliers that historically supported automated payments primarily through ACH or check. Supplier-side platforms, such as Billtrust, could enable faster and more seamless portal payments, helping suppliers process payments more efficiently and improve Days Sales Outstanding (DSO).

Do buyers need to share supplier-portal credentials?
No. The pilot is designed to eliminate the need to share supplier-portal logins.

Is the AI agent making payment decisions?
No. The agent only executes eligible payments that have already been approved by the buyer.

Why are B2B payments a good use case for agentic commerce?
They already operate within established approvals, controls and the buyer’s rules.

Media Contacts
Conor Febos, Press@visa.com
Lauren Johns, pr@hq.bill.com
Paul Accardo, PR@billtrust.com

IR Contact
Jack Andrews, investor@hq.bill.com

Source: Visa Inc.

Visa Direct Launches Stablecoin-Powered Money Movement as Pilots Move to Production

Thu, 15 Oct 2026 08:00:00 -0400

Inyo Global becomes the first enabler to bring Visa Direct's stablecoin-enabled prefunding into production, making stablecoin-powered money movement available for businesses that run cross-border payments through Visa Direct.

SAN FRANCISCO--(BUSINESS WIRE)-- Today, Visa (NYSE: V) announced the next phase of its stablecoin strategy as Visa Direct stablecoin capabilities advance from pilot stage to commercial deployment. The milestone marks an important step in bringing stablecoin-enabled money movement into real-world commercial operations. In the initial rollout, Inyo Global, a Visa Direct processor, is the first enabler of this new offering, powering it for eligible Visa Direct clients and partners¹.

Over the past year, Visa Direct has worked with clients and partners to explore how stablecoins can help improve the way businesses fund and move money across borders. As interest in faster, more flexible just-in-time funding solutions continues to grow, Visa is now seeing those efforts move beyond experimentation and into day-to-day business operations.

As part of this next phase, Visa is working with Inyo Global, a payments infrastructure provider serving money transmitters, fintechs, banks and payment businesses, to bring Visa Direct's stablecoin-enabled prefunding to market. Inyo has integrated the capability into its platform, giving the businesses it serves the option to prefund cross-border payouts through Visa Direct with USDC in near real time, rather than relying solely on traditional funding windows².

Through a single connection, Inyo's platform lets businesses onboard users, manage fraud and compliance, accept payments and send domestic and international payouts across more than 180 countries, powered by Visa Direct.

"The next chapter for stablecoins is adoption," said Vira Platonova, Global Head of Visa Direct. "Over the last several years, we've worked with several partners and clients to explore how these technologies can improve money movement. We're now seeing those efforts translate into live implementations, helping businesses access more flexible and efficient ways to fund and move money globally through Visa Direct, starting with Inyo Global as our first enabler."

Visa Direct Head Vira Platonova will discuss how stablecoins are reshaping global money movement during several Money20/20 USA sessions next week.

From Pilot to Production

In 2025, Visa introduced stablecoin prefunding and payout pilot programs through Visa Direct.
The pilots demonstrated how stablecoins could support cross-border funding, liquidity management and global money movement for eligible clients.
Today, those capabilities are moving from pilot programs and into real-world commercial operations.

Inyo Global is the first enabler to bring Visa Direct's stablecoin prefunding capability into commercial production.

"Innovation in money movement is ultimately about creating a better experience for customers, and that's exactly our focus at Inyo," said Robson Dantas, Chief Product and Technology Officer and co-founder at Inyo Global. "By integrating Visa Direct's stablecoin-enabled prefunding into the Inyo platform, we're giving the money transmitters, fintechs and payment companies we serve a new way to fund their payouts, one that is available around the clock and runs through the same Inyo APIs they already use."

The implementation builds on Visa's broader efforts to connect traditional payment infrastructure with blockchain-enabled technologies. By offering stablecoin funding and moving money, Visa is helping clients explore new ways to improve efficiency while maintaining the reliability, security and scale of Visa's global network.

Visa’s work with Inyo Global reflects growing demand for stablecoin-powered solutions that can help businesses manage liquidity, fund payment activity and move money internationally with greater speed and flexibility. As adoption continues to accelerate, Visa is working with clients and partners to bring stablecoin-enabled capabilities to additional money movement use cases around the world.

About Visa

¹ Availability varies by eligibility and geography. Please refer to your Visa representative for more information on availability.

² Subject to applicable eligibility and availability requirements.

Media Contacts
press@visa.com
Jackie Dresch
Conor Febos

Source: Visa Inc.

Visa Receives Approval to Begin Preparations for a Domestic Business in China

Tue, 13 Oct 2026 00:11:00 -0400

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE:V), a global leader in digital payments, today announced that it has received approval of its Application to Prepare from the People’s Bank of China (PBOC), which allows the company to begin formal preparations to establish a domestic bankcard clearing institution in China. This marks an important milestone toward the company serving China’s domestic payments market.

“The approval of our Application to Prepare marks a significant step forward in Visa’s long-standing commitment to China. We greatly appreciate the important role of the leaders of the United States and China in pursuing a constructive and strategically stable relationship between the world’s largest economies,” said Ryan McInerney, Chief Executive Officer of Visa. “For more than 40 years, Visa has been an active contributor to China’s dynamic payments landscape. We look forward to taking the necessary steps in the process, pursuant to the PBOC’s regulations, to begin operating domestically in China.”

China is one of the world’s most advanced and dynamic digital payments markets, supported by a highly innovative ecosystem and continued commitment to further financial sector liberalization. Visa looks forward to bringing its world-class innovation, security and reliability to Chinese consumers and businesses, contributing to the continued development of China’s domestic payments landscape.

Visa will continue its efforts to complete the process and begin domestic bankcard clearing operations in China.

About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Media Contacts:
Fletcher Cook, 650-432-2990, Press@visa.com
Kara-Mae Lim, karlim@visa.com

Source: Visa Inc.

Visa to Announce Fiscal Fourth Quarter and Full-Year 2026 Financial Results on October 27, 2026

Thu, 08 Oct 2026 16:05:00 -0400

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V) will report its fiscal fourth quarter and full-year 2026 financial results on Tuesday, October 27, 2026. After market close, Visa will furnish the results with the Securities and Exchange Commission and post them, along with accompanying financial information, on the Visa Investor Relations website. Visa will issue a news wire alert when the earnings materials are publicly available, including a link to those documents.

Visa’s executive management team will then host a live audio webcast beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss financial results and business highlights.

All interested parties are invited to listen to the live webcast at investor.visa.com. A replay of the webcast will be available on the Visa Investor Relations website for 30 days.

Visa is currently in its customary “quiet period” during which time company executives will not be interacting with the investment community. This quiet period will be in place until fiscal fourth quarter and full-year 2026 earnings are publicly available on October 27, 2026.

About Visa

Investor Relations: Jennifer Como, 650-432-7644, InvestorRelations@visa.com
Media Relations: Fletcher Cook, 650-432-2990, Press@visa.com

Source: Visa Inc.