Visa Slips as UPI Surpasses Its Quarterly Transaction Pace

Visa's stock took a hit after Indian Prime Minister Narendra Modi pushed for UPI to expand its international reach. The payment network processed 71.7 billion transactions in its latest fiscal quarter, but India's homegrown UPI handled 24.51 billion transactions alone in August.

This means that if we extrapolate UPI's volume across three months, it reaches a quarterly pace of roughly 73.53 billion transactions - about 2.5% more than Visa's total.

UPI doesn't need to replace Visa everywhere to make a difference; it just needs to capture more payment flows in the right markets.