On the Record · Visa
Visa competitors, on the record
The companies Visa names as competitors in its annual reports, 2022 to 2025, and the companies that name Visa, each with the sentence and the filing.
Who Visa names
| Company | Named in |
|---|---|
| Alipay | 2022, 2023, 2024, 2025 |
| American Express | 2022, 2023, 2024, 2025 |
| JCB | 2022, 2023, 2024, 2025 |
| Mastercard | 2022, 2023, 2024, 2025 |
| UnionPay | 2022, 2023, 2024, 2025 |
| WeChat Pay | 2022, 2023, 2024, 2025 |
| Diners Club/Discover | 2024, 2025 |
| Discover | 2022, 2023 |
| Early Warning Services | 2022 |
| The Clearing House | 2022 |
In its own words
Alipay, WeChat Pay
Word for word“Some of our competitors, including American Express, Discover, private-label card networks, virtual currency providers, technology companies that enable the exchange of digital assets, and certain alternative payments systems like Alipay and WeChat Pay, operate closed-loop payments systems, with direct connections to both sellers and consumers.” 10-K for 2025
American Express, JCB, Mastercard, UnionPay, Diners Club/Discover
Word for word“Examples include American Express, Diners Club/Discover (now owned by Capital One), JCB, Mastercard and UnionPay.” 10-K for 2025
Discover
Word for word“Examples include American Express, Discover, JCB, Mastercard and UnionPay.” 10-K for 2023
Early Warning Services, The Clearing House
Word for word“Examples include initiatives from The Clearing House, an association consisting of large financial institutions that has developed its own faster payments system; Early Warning Services, which operates Zelle, a bank-offered alternative network that provides another platform for faster funds or real-time payments across a variety of payment types, including P2P, corporate and government disbursement, bill pay and deposit check transactions; and cryptocurrency or stablecoin-based payments initiatives.” 10-K for 2022
Who names Visa
Companies whose own annual reports name Visa as a competitor.
Word for word“We are the fourth largest general-purpose card network globally based on purchase volume, behind Visa, China UnionPay and Mastercard.” 10-K for 2025
Word for word“Our competitors include Visa, Western Union, MoneyGram, Green Dot, NetSpend, Euronet and InComm.” 10-K for 2017
Word for word“As a form of payment, our customers have numerous consumer credit and other payment options available to them, and our products compete with cash, checks, electronic bank transfers, debit cards, general purpose credit cards (including those on the Visa, MasterCard, American Express and Discover Card networks), various forms of consumer installment loans and split-pay products, other private label credit card brands, prepaid cards, digital wallets and mobile payment solutions, and other tools that simplify and personalize shopping experiences for consumers and merchants.” 10-K for 2025
Word for word“In addition, increased competition with certain network operators, such as Visa and Mastercard, could affect our existing partnerships and business relationships with these networks, which have historically played a significant role in facilitating our card-issuing and transaction processing services.” 10-K for 2025
Word for word“The Discover and Diners Club networks’ primary competitors are Visa, MasterCard and American Express.” 10-K for 2024
Word for word“Additionally, payment networks such as Visa and MasterCard are increasingly offering products and services that compete with our suite of solutions.” 10-K for 2018
Word for word“We compete worldwide with payments networks such as Visa, American Express, JCB, China UnionPay and Discover, among others.” 10-K for 2025
Word for word“Our competitors include other large companies in the information technology industry, as well as, independent ATM companies and financial institutions, such as Fidelity National Information Services Inc., Fiserv, Inc., Visa Inc., Mastercard Inc., Infosys Ltd., Diebold Nixdorf, Inc., Hyosung TNS Inc., and ACI Worldwide, Inc., many of which have more financial and technical resources, or more widespread distribution and market penetration for their platforms and service offerings, than we do.” 10-K for 2025
Word for word“We also compete with payment networks, such as Visa and Mastercard, and legacy foreign exchange businesses.” 20-F for 2026
Read from Visa’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-11-06. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.