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Visa Faces Intensifying Competition as UPI Passes 71.7B Pace

Visa logoVisa
Sig2.26Sen-2.25Env0.00Soc0.00Gov0.00

Visa faced a growing cross-border challenger after India’s Prime Minister Narendra Modi pushed for UPI to connect with more international payment systems. UPI handled 24.51 billion transactions in August, implying a ~73.53 billion quarterly pace versus Visa’s 71.7 billion in its latest fiscal quarter. Visa’s payments volume rose 10% and cross-border volume 13%, but shares fell about 1.5% as competition in the “tollbooth” segment increases.

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