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Payment Networks Earnings: Five Takeaways on Spending and Technology

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Payment Networks Earnings: Five Takeaways on Spending and Technology

Networks’ earnings results showed that tokenized agent purchases require merchant and processor preparation.

Consumers kept their cards busy last quarter, and the latest quarterly earnings results from payment networks indicated a widening pursuit of transactions that begin with an unpaid invoice, a stablecoin balance or instructions to an artificial intelligence agent.

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Their earnings calls showed continued spending growth alongside different stages of deployment for these new services. Management described live business payment applications, early agentic purchases and stablecoin products connecting digital balances with bank accounts. They also identified unfinished work, particularly in preparing merchants and processors for purchases initiated by software.

Visa’s fiscal fourth-quarter earnings results, released Oct. 27, showed credit volume in the United States growing 11% and debit 9%, with continued demand across discretionary and nondiscretionary categories.

“We did not see signs of the lower-spend consumer weakening in our volumes,” Visa Chief Financial Officer Chris Suh said during the company’s Oct. 27 earnings call.

Visa’s highest spending band continued to grow fastest, according to management commentary.

Mastercard provided an additional snapshot of affluent demand in its third-quarter earnings results, released Thursday (Oct. 29). Spending in its affluent portfolios grew twice as fast as overall credit. Its U.S. credit volume rose 10%, while debit grew 1%, including the impact of the Capital One debit migration. Outside the U.S., debit outpaced credit.


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