VISA INC.V

Visa invests in development and deployment of next-generation technologies including agentic commerce.

“Visa is one of the world’s leaders in digital payments. Our purpose is to uplift everyone, everywhere by being the best way to pay and be paid. Since Visa’s early days in 1958, we have been in the business of facilitating secure, reliable and efficient global commerce and money movement. We provide transaction processing services (primarily authorization, clearing and settlement) among consumers, issuing and acquiring financial institutions and sellers in a structure we call the “four-party” model. Please see Our Core Business discussion below. As the payments ecosystem continues to evolve, we have broadened this model to include digital banks, digital wallets, a range of financial technology companies (fintechs), governments and non-governmental organizations (NGOs). We are focused on extending, enhancing and investing in our proprietary advanced transaction processing network, VisaNet, to offer a single connection point for facilitating money movement to multiple endpoints through various form factors and innovative technologies across more than 200 countries and territories. Visa is committed to advancing innovation within the payment technology sector. Building upon our track record of industry leadership, including early adoption and integration of artificial intelligence (AI) models in payment systems, Visa continues to invest in the development and deployment of next-generation technologies, such as generative AI (GenAI), stablecoins and agentic commerce. During fiscal”

Visa is adding capabilities to its token technology to drive preference for payment types including agentic commerce.

“We are adding identity-based authentication and other capabilities to our token technology to further drive preference for Visa payment types, including a solution for agentic commerce. Please see our Looking Ahead discussion below. Visa Token Service (VTS) brings trust to digital commerce innovation. As consumers increasingly rely on digital transactions, VTS is designed to enhance the digital ecosystem through improved authorization, reduced fraud and enhanced consumer experience. VTS helps protect digital transactions by replacing 16-digit Visa account numbers with a token that includes a surrogate account number, cryptographic information and other data to protect the underlying account information. This security technology can work for a variety of in-person or ecommerce payment transactions. As of September 30, 2025, Visa has provisioned more than 16 billion tokens.”

Visa develops and deploys solutions including agentic commerce to meet partner and user needs.

“As commerce evolves, so do buyer and seller preferences and to fulfill our purpose, we develop and deploy solutions that enable our expanding network of partners to meet and exceed the needs of their users as we build the future of payments across our three growth pillars. Two examples of this include our agentic commerce and stablecoin efforts.”

Visa deployed a 2025 pilot program that processed live agentic token transactions in ecommerce and enterprise environments.

“Our token infrastructure enables expansion into emerging payments use cases, including autonomous and agentic commerce. Visa Intelligent Commerce is an innovative offering in this space that integrates Visa’s tokenization technology with authentication and predictive analytics, empowering partners to deploy secure, personalized commerce experiences. The platform comprises a suite of integrated APIs, including tokenized payment credentials with authentication for agent-driven transactions, AI-powered personalization services using Visa transaction insights to optimize search and commerce recommendations and intelligent payment processing with authenticated payment instructions and contextual signals. These capabilities are supported by a commercial partner program for platforms and developers, providing the tools and infrastructure to deploy AI-driven commerce solutions securely and at scale. Additionally, these APIs are accessible through our MCP server, connecting AI systems to Visa’s payment network infrastructure and Visa’s Trusted Agent Protocol, which enables safer agent-driven checkout by helping sellers verify agents and malicious bots, utilizing existing web infrastructure. In 2025, we deployed a pilot program that processed live agentic token transactions within the ecommerce and enterprise environments.”

Visa launched an internal AI assistant using agentic AI, adopted by 26,000 employees for 261,000 chats.

“As Visa strives to achieve our purpose and our growth objectives, we have focused on enhancing our employees’ expertise across our business. We offer unique career pathways for employees and provide them with tools and support to build on their leadership impact and develop their careers. Along with our educational assistance program and Visa University learning pathways, employees are encouraged to broaden their knowledge and develop new skills by participating in leadership development programs (e.g., New to Visa People Leadership). Visa’s commitment to innovation and collaboration is reflected in how we equip employees with GenAI capabilities that can enhance content creation, productivity and business automation. At the heart of this effort is our internal GenAI hub that serves as an easy-to-access entry point to AI models, applications and developer tools available to Visa employees. The GenAI Hub brings together Visa’s chatbots, apps and internal platforms, enabling AI to be a driver of everyday decision making and problem solving. Additionally, Visa’s own AI assistant for employees connects knowledge across Visa’s systems and uses agentic AI to empower employees with fast self-service solutions. From its launch in March 2025 through the fiscal year ended September 30, 2025, it has been embraced by nearly 26,000 employees launching over 261,000 AI-powered chats to get answers, automate tasks and accelerate outcomes.”

Visa highlights regulatory, privacy, cybersecurity and compliance risks from adoption of agentic commerce.

“In particular, the adoption of agentic commerce, in which autonomous AI agents initiate and execute transactions on behalf of users, presents novel and complex regulatory, privacy and cybersecurity risks. Legal frameworks governing such autonomous agents remain nascent, with limited direct guidance specific to payments. The interplay between payments regulations, data privacy laws and evolving AI regulations may create uncertainty around compliance obligations and potential liability exposure as more participants (including sellers, fintechs, AI developers and enablers) enter the agentic commerce ecosystem. The market is still assessing how regulators may apply existing consumer protection and other laws in the context of AI. For example, as agentic commerce solutions scale, we may see increased instances of erroneous or disputed payments, increased chargebacks and reputational harm. Furthermore, reliance on agentic AI introduces challenges in monitoring cross-border, prohibited or high-risk transactions, where conflicting regulatory requirements may apply. The fragmented regulatory landscape for emerging technologies such as AI and inconsistent requirements across legal frameworks may amplify difficulties in identifying, preventing or mitigating risk with a single global approach, potentially increasing our compliance costs or stratifying our ability to leverage certain data or technologies for innovation. For instance, the EU has adopted a comprehensive AI Act that establis”