Visa Posts a Robust Final Quarter to Fiscal 2026

Visa Inc. late Tuesday reported a strong September quarter featuring a 13% year-over-year  rise in revenue to $12.1 billion, generating GAAP net income of $6 billion. The financial momentum stemmed from a 9.5% increase in payments volume, to $4.08 trillion in constant dollars.

For the full fiscal year ending Sept. 30, Visa reported $45.9 billion in net revenue, a record, and a 15% increase from fiscal 2025. That’s the highest growth rate in more than 15 years, according to the company, setting aside the post-pandemic recovery period and acquired businesses.

“Visa delivered a milestone year,” noted the network’s chief executive, Ryan McInerney, in a statement about the quarterly results. The quarter’s performance was such that it led McInerney to designate his company as “the leading hyperscaler of payments globally.”

Much of the growth stemmed from a strong showing in operations. Total processed transactions in the quarter grew 10% year-over-year, to 74.2 billion. Cross-border volume, excluding payments handled within Europe, grew 14%, Visa reported. In particular, specific rails like the company’s Visa Direct faster-payments service posted robust growth, increasing 23% to $1.5 trillion in volume for the fiscal year.

That kind of performance made an impression on observers, who see it as likely to be long-lasting. “We believe this impressive growth…highlight(s) important structural growth drivers, in our opinion,” notes a report from William Blair, an investment-banking firm.

Visa continues to be acquisitive in key markets, observers have noted. In its most recent deal, it agreed in August on a $2.4 billion deal for BioCatch, a fraud-intelligence firm based in Tel Aviv. Visa expects that deal to close by March.

Beyond acquisitions, Visa is investing in modernization, observers note, particularly with respect to VisaNet, its core processing network for routing, authorizations, and clearing and settlement. “The company will continue the modernization and re-architecture of VisaNet this year, an indication that management recognizes the importance of a flexible, modern tech stack,” notes the William Blair report. “This is in stark contrast to others in the payment ecosystem that have failed to keep pace with technological change, resulting in significant economic share loss.”