V · Earnings call · 2026Q3T · Full report

Market Demand Trends — Consumer Spending

VISA INC. · 2026-10-27 · Importance 37 · Surprise 32

Visa reported full-year payments volume growth of 9% in constant dollars, while commercial payments volume grew 12%, its fastest annual rate in eight years excluding the post-pandemic recovery. In the U.S., fourth-quarter payments volume grew 10%, with both discretionary and nondiscretionary spending strong and growth relatively consistent across consumer spending bands. Management said it saw no signs of weakening among lower-spend consumers and described spending as resilient. The company processed 281 billion transactions for the year, up 9% year over year.

Key facts

• Visa Q4 FY2026 U.S. payments volume grew 10% year-over-year; U.S. credit grew 11% and debit grew 9%.
• Through October 21, Visa U.S. payments volume grew 10% year-over-year, with credit up 11% and debit up 9%.
• Visa saw no signs of weakening among lower-spend consumers in its Q4 FY2026 volumes.