Visa statistics show the scale of a global payments network rather than visa-issuance totals. Visa reported $16.7 trillion in FY2025 total volume, $14.2 trillion in payments volume, and 257.5 billion transactions processed on its networks. The figures below cover Visa’s fiscal years, annual-report measurements, and dated statements from Visa’s own corporate communications.
Contents
- Recent network and payments volume
- Three-year financial comparison
- Revenue, expenses, and shareholder measures
- Transactions, credentials, and acceptance
- Digital payments and tokenization
- International reach and business services
Recent network and payments volume
Visa’s FY2025 results provide the most recent annual snapshot in the supplied financial reporting. Total volume reached $16.7 trillion in FY2025, compared with $15.7 trillion in FY2024 and $14.8 trillion in FY2023. These are fiscal-year figures from the Visa Annual Report 2025 Financials.
Payments volume was $14.2 trillion in FY2025. The comparable totals were $13.2 trillion in FY2024 and $12.3 trillion in FY2023. Payments volume is therefore a narrower measure than total volume in this reporting series; both should be labeled with their exact measure when comparing Visa activity.
Transactions processed on Visa’s networks also increased across the three fiscal years. Visa reported 257.5 billion processed transactions in FY2025, 233.8 billion in FY2024, and 212.6 billion in FY2023. The Visa Annual Report 2025 Financials identifies these as transactions processed on Visa’s networks.
Visa’s 2025 CEO Message uses a broader transaction measure: 329 billion total Visa-branded transactions processed during FY2025. It also reports an average of 901 million transactions per day. Because the annual financials and CEO Message describe different measures, the 257.5 billion network-processed figure and the 329 billion Visa-branded figure should not be treated as interchangeable.
Three-year financial comparison
The following compact comparison brings together reported FY2023, FY2024, and FY2025 figures. Monetary amounts are in U.S. dollars; the source labels are retained because the measures come from Visa’s annual financial reporting.
| Measure | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Total volume | $14.8T | $15.7T | $16.7T |
| Payments volume | $12.3T | $13.2T | $14.2T |
| Network transactions | 212.6B | 233.8B | 257.5B |
| Payment credentials | 4.3B | 4.6B | 4.9B |
| Net revenue | $32.653B | $35.926B | $40.0B |
| Net income | $17.273B | $19.743B | $20.058B |
| Diluted EPS | $8.28 | $9.73 | $10.20 |
Source: Visa Annual Report 2025 Financials.
Payment credentials rose from 4.3 billion in FY2023 to 4.6 billion in FY2024 and 4.9 billion in FY2025. Visa’s 2025 CEO Message describes FY2025 credentials as nearly 5 billion and says they grew 6% from the prior year. The annual-report figure and the rounded CEO Message description refer to the same FY2025 period but use different precision.
Net revenue reached $40.0 billion in FY2025, after $35.926 billion in FY2024 and $32.653 billion in FY2023. The 2025 CEO Message says FY2025 net revenue increased 11% year over year. Visa reported FY2025 net income of $20.058 billion, compared with $19.743 billion in FY2024 and $17.273 billion in FY2023. Diluted EPS was $10.20, $9.73, and $8.28 for those same fiscal years.
Revenue, expenses, and shareholder measures
Visa’s FY2025 operating expenses were $16.006 billion, versus $12.331 billion in FY2024 and $11.653 billion in FY2023. On a non-GAAP basis, operating expenses were $12.906 billion in FY2025, $11.609 billion in FY2024, and $10.481 billion in FY2023.
Non-GAAP net income was $22.542 billion in FY2025, $20.389 billion in FY2024, and $18.280 billion in FY2023. The Visa Annual Report 2025 Financials reports FY2025 diluted EPS of $10.20; Visa’s 2025 CEO Message separately reports FY2025 GAAP EPS of $10.20 and non-GAAP EPS of $11.47.
Visa’s FY2024 full-year release gives a more detailed revenue breakdown. FY2024 service revenue was $16.1 billion, up 9%; data-processing revenue was $17.7 billion, up 11%; international-transaction revenue was $12.7 billion, up 9%; and other revenue was $3.2 billion, up 29%. Client incentives were $13.8 billion, up 12%, while operating expenses were $12.3 billion, up 6%.
The same Visa Full-Year 2024 Earnings Release reports FY2024 net revenue of $35.9 billion, up 10%, GAAP net income of $19.7 billion, up 14%, and GAAP EPS of $9.73, up 17%. Non-GAAP net income was $20.4 billion, up 12%, and non-GAAP EPS was $10.05, up 15%.
For the fourth quarter of FY2024, Visa reported $9.6 billion in net revenue, up 12%. Q4 GAAP net income was $5.3 billion, up 14%, and GAAP EPS was $2.65, up 17%. Q4 non-GAAP net income was $5.4 billion, up 13%, and non-GAAP EPS was $2.71, up 16%.
The FY2024 quarterly dividend was increased 13% to $0.590 per share. Share repurchases and dividends totaled $20.9 billion during FY2024. At September 30, 2024, Visa reported $17.7 billion in cash, cash equivalents, and investment securities. These FY2024 figures come from the Visa Full-Year 2024 Earnings Release and should not be read as FY2025 balances.
Transactions, credentials, and acceptance
Visa’s 2025 CEO Message reports total payments and cash volume of $17 trillion in FY2025. This rounded measure differs from the $16.7 trillion total-volume figure in the Visa Annual Report 2025 Financials, so the source wording and measurement definition matter when citing Visa statistics.
Visa reported more than 150 million merchant locations worldwide in the 2025 CEO Message. It also reported more than 14,000 financial institution partners and operations in more than 200 countries and territories. The employee count cited in the Visa Annual Report 2024 Business Overview was more than 31,000.
The same 2025 message says more than half of more than $40 trillion in global consumer spending was still made with cash, check, ACH, account-to-account payments, real-time payments, or other less effective digital forms. This is a statement about the global consumer-spending opportunity described by Visa, not a measurement of Visa’s own processed volume.
Tap to Pay accounted for 79% of all Visa face-to-face payments globally in September 2025. Visa said that share was approximately 8 percentage points higher than a year earlier and approximately 36 percentage points higher than five years earlier. Smartphone-based tap acceptance handled more than $33 billion in payments volume in 2025.
Tap to Phone reached more than 20 million transacting devices in 2025. Visa also said more than one in three Tap to Phone sellers were new to Visa in 2025. These are 2025 statements from the Visa CEO Message, and they describe acceptance and seller participation rather than the annual network-transaction total.
Digital payments and tokenization
Visa reported 11.5 billion provisioned network tokens as of September 30, 2024 in the Visa Annual Report 2024 Business Overview. Visa said it issued its 10 billionth token in June 2024 in the announcement titled “Visa Issues 10 Billionth Token.” The two figures have different dates and descriptions: one is a provisioned-token count at a reporting date, while the other marks an issuance milestone.
Visa said its tokens generated more than $40 billion in incremental ecommerce revenue for businesses globally. It also said tokenized payments saved $650 million in fraud in the last year. The supplied announcement does not define that “last year” as a specific calendar or fiscal period, so the statement is retained without assigning it a different date.
Visa Direct transactions grew roughly eightfold since 2019 and exceeded 12.5 billion in 2025, according to the Visa CEO Message 2025. Value-added services revenue was nearly $11 billion in 2025 and had grown at a compound annual growth rate of more than 20% since 2021 in constant dollars. The CAGR is a historical growth measure through 2025, not a forecast.
International reach and business services
Visa’s international transaction activity was reported in constant dollars in the Visa Full-Year 2024 Earnings Release. FY2024 cross-border volume excluding intra-Europe grew 15%, while total cross-border volume also grew 15%. FY2024 payments volume growth was 8% in constant dollars, and processed transactions grew 10% in constant dollars.
The constant-dollar qualification is important: these growth rates are presented as Visa’s comparable-growth measures and are not the same as nominal dollar totals. They also describe FY2024, not the later FY2025 totals shown in the annual comparison table.
Visa’s 2024 CEO Message reported a global client-engagement survey Net Promoter Score of 76, up 3 points from the prior year. Visa delivered more than 3,000 consulting engagements in 2024, nearly 50% more than the prior year, and estimated that those advisory services helped clients realize more than $5 billion in incremental revenue in 2024. The incremental-revenue amount is Visa’s estimate.
For a long-term market comparison, the Visa Annual Report 2025 Financials reported a 426% 10-year cumulative return for Visa, compared with 315% for the S&P 500 and 258% for the S&P 500 Financials Index. The source presents these as cumulative-return comparisons; they are not annualized returns and do not describe Visa’s payment volume.