Payment Networks Invest in Comprehensive Ecosystems

The payments industry is experiencing steady growth, but it's not just about processing transactions. Payment networks like Visa and Mastercard are investing in new technologies and services to create a more comprehensive ecosystem.

Visa CEO Ryan McInerney highlighted three key areas of focus: consumer payments, commercial payments, and money movement. He also emphasized the importance of value-added services, which saw revenue increase 34% in constant dollars.

Mastercard's Michael Miebach described a 'virtuous cycle' where additional issuers, merchants, payment volume, tokens, and services reinforce each other. The company added over 230 million net new cards in the past year and saw token penetration exceed 40%.

Cross-border commerce remains a growth engine for both Visa and Mastercard, with 12% cross-border volume growth excluding intra-Europe. American Express also reported healthy spending across various customer segments, including a 40% increase in billed business among Gen Z consumers.