VISA INC., 10-Q filed on 4/29/2026
Quarterly Report
v3.26.1
Cover - shares
 6 Months Ended
Mar. 31, 2026
Apr. 21, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 001-33977  
Entity Registrant Name VISA INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 26-0267673  
Entity Address, Address Line One P.O. Box 8999  
Entity Address, City or Town San Francisco,  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94128-8999  
City Area Code 650  
Local Phone Number 432-3200  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001403161  
Current Fiscal Year End Date --09-30  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Class A Common Stock    
Document Information [Line Items]    
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share  
Trading Symbol V  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   1,659,709,932
2026 Notes    
Document Information [Line Items]    
Title of 12(b) Security 1.500% Senior Notes due 2026  
Trading Symbol V26  
Security Exchange Name NYSE  
2028 Notes    
Document Information [Line Items]    
Title of 12(b) Security 2.250% Senior Notes due 2028  
Trading Symbol V28  
Security Exchange Name NYSE  
2029 Notes    
Document Information [Line Items]    
Title of 12(b) Security 2.000% Senior Notes due 2029  
Trading Symbol V29  
Security Exchange Name NYSE  
2033 Notes    
Document Information [Line Items]    
Title of 12(b) Security 3.125% Senior Notes due 2033  
Trading Symbol V33  
Security Exchange Name NYSE  
2034 Notes    
Document Information [Line Items]    
Title of 12(b) Security 2.375% Senior Notes due 2034  
Trading Symbol V34  
Security Exchange Name NYSE  
2037 Notes    
Document Information [Line Items]    
Title of 12(b) Security 3.500% Senior Notes due 2037  
Trading Symbol V37  
Security Exchange Name NYSE  
2044 Notes    
Document Information [Line Items]    
Title of 12(b) Security 3.875% Senior Notes due 2044  
Trading Symbol V44  
Security Exchange Name NYSE  
Class B-1 common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   4,835,384
Class B-2 common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   120,338,948
Class C common stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   8,880,326
v3.26.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2026
Sep. 30, 2025
Assets    
Cash and cash equivalents $ 12,404 $ 17,164
Restricted cash equivalents—U.S. litigation escrow 665 2,990
Investment securities 1,509 1,833
Settlement receivable 2,136 4,191
Accounts receivable 3,405 3,126
Customer collateral 4,292 3,625
Current portion of client incentives 2,473 2,158
Prepaid expenses and other current assets 4,741 2,679
Total current assets 31,625 37,766
Investment securities 308 999
Client incentives 5,514 5,157
Property, equipment and technology, net 4,778 4,236
Goodwill 20,891 19,879
Intangible assets, net 27,750 27,646
Other assets 4,183 3,944
Total assets 95,049 99,627
Liabilities    
Accounts payable 557 555
Settlement payable 3,048 4,568
Customer collateral 4,292 3,625
Accrued compensation and benefits 1,392 1,863
Client incentives 11,577 10,369
Accrued liabilities 5,670 5,466
Current maturities of debt 1,559 5,569
Accrued litigation 981 3,033
Total current liabilities 29,076 35,048
Long-term debt 22,417 19,602
Deferred tax liabilities 5,893 5,549
Other liabilities 2,002 1,519
Total liabilities 59,388 61,718
Commitments and contingencies (Note 15)
Equity    
Preferred stock 528 745
Right to recover for covered losses (44) (124)
Additional paid-in capital 22,033 21,934
Accumulated income 13,122 15,106
Accumulated other comprehensive income (loss):    
Investment securities 5 12
Defined benefit pension and other postretirement plans (24) (32)
Derivative instruments (162) (307)
Foreign currency translation adjustments 203 575
Total accumulated other comprehensive income (loss) 22 248
Total equity 35,661 37,909
Total liabilities and equity 95,049 99,627
Class A common stock    
Equity    
Common stock 0 0
Class B-1 and B-2 common stock    
Equity    
Common stock 0 0
Class C common stock    
Equity    
Common stock $ 0 $ 0
v3.26.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares
shares in Millions
Mar. 31, 2026
Sep. 30, 2025
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares issued (in shares) 5 5
Preferred stock, shares outstanding (in shares) 5 5
Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Class A common stock    
Common stock, shares issued (in shares) 1,660 1,691
Common stock, shares outstanding (in shares) 1,660 1,691
Class B-1 and B-2 common stock    
Common stock, shares issued (in shares) 125 125
Common stock, shares outstanding (in shares) 125 125
Class C common stock    
Common stock, shares issued (in shares) 9 9
Common stock, shares outstanding (in shares) 9 9
v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Net revenue $ 11,230 $ 9,594 $ 22,131 $ 19,104
Operating Expenses        
Personnel 1,841 1,657 3,605 3,470
Marketing 545 381 955 687
Network and processing 260 224 493 431
Professional fees 238 173 446 316
Depreciation and amortization 333 305 659 587
General and administrative 450 419 965 900
Litigation provision 329 1,000 1,037 1,044
Total operating expenses 3,996 4,159 8,160 7,435
Operating income 7,234 5,435 13,971 11,669
Non-operating Income (Expense)        
Interest expense (178) (158) (372) (340)
Investment income (expense) and other 118 161 301 309
Total non-operating income (expense) (60) 3 (71) (31)
Income before income taxes 7,174 5,438 13,900 11,638
Income tax provision 1,153 861 2,026 1,942
Net income 6,021 4,577 11,874 9,696
Class A common stock        
Non-operating Income (Expense)        
Net income $ 5,265 $ 3,996 $ 10,382 $ 8,463
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 3.15 $ 2.32 $ 6.18 $ 4.90
Basic Weighted-average Shares Outstanding (in shares) 1,674 1,721 1,681 1,725
Diluted Earnings Per Share (in dollars per share) $ 3.14 $ 2.32 $ 6.17 $ 4.90
Diluted Weighted-average Shares Outstanding (in shares) 1,916 1,974 1,924 1,979
Class B-1 common stock        
Non-operating Income (Expense)        
Net income $ 24 $ 18 $ 46 $ 37
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 4.87 $ 3.63 $ 9.58 $ 7.68
Basic Weighted-average Shares Outstanding (in shares) 5 5 5 5
Diluted Earnings Per Share (in dollars per share) $ 4.87 $ 3.63 $ 9.57 $ 7.67
Diluted Weighted-average Shares Outstanding (in shares) 5 5 5 5
Class B-2 common stock        
Non-operating Income (Expense)        
Net income $ 571 $ 431 $ 1,126 $ 911
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 4.75 $ 3.58 $ 9.36 $ 7.57
Basic Weighted-average Shares Outstanding (in shares) 120 120 120 120
Diluted Earnings Per Share (in dollars per share) $ 4.74 $ 3.58 $ 9.35 $ 7.56
Diluted Weighted-average Shares Outstanding (in shares) 120 120 120 120
Class C common stock        
Non-operating Income (Expense)        
Net income $ 112 $ 85 $ 220 $ 183
Earnings Per Share        
Basic Earnings Per Share (in dollars per share) $ 12.58 $ 9.29 $ 24.71 $ 19.62
Basic Weighted-average Shares Outstanding (in shares) 9 9 9 9
Diluted Earnings Per Share (in dollars per share) $ 12.57 $ 9.27 $ 24.68 $ 19.59
Diluted Weighted-average Shares Outstanding (in shares) 9 9 9 9
v3.26.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]        
Net income $ 6,021 $ 4,577 $ 11,874 $ 9,696
Investment securities:        
Net unrealized gain (loss) (7) 4 (9) (20)
Income tax effect 2 (2) 2 4
Defined benefit pension and other postretirement plans:        
Net unrealized actuarial gain (loss) and prior service credit (cost) 3 6 3 6
Income tax effect 0 (1) 0 (1)
Reclassification adjustments 3 2 6 3
Income tax effect 0 0 (1) 0
Derivative instruments:        
Net unrealized gain (loss) 28 (130) 35 38
Income tax effect (3) 23 1 (2)
Reclassification adjustments 72 10 136 (32)
Income tax effect (14) (4) (27) 3
Foreign currency translation adjustments:        
Translation adjustments (271) 459 (234) (476)
Income tax effect (38) 53 (138) (42)
Other comprehensive income (loss) (225) 420 (226) (519)
Comprehensive income $ 5,796 $ 4,997 $ 11,648 $ 9,177
v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
Total
Preferred Stock
Common Stock and Additional Paid-in Capital
Right to Recover for Covered Losses
Accumulated Income
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Sep. 30, 2024   5        
Balance as of beginning of period at Sep. 30, 2024 $ 39,137 $ 1,031 [1] $ 21,229 $ (104) $ 17,289 $ (308)
Beginning balance (in shares) at Sep. 30, 2024     1,868      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 9,696       9,696  
Other comprehensive income (loss) (519)         (519)
VE territory covered losses (24)     (24)    
Recovery through conversion rate adjustments 0 $ (8)   8    
Conversions to class A common stock (in shares)   0 [2] 4      
Conversions to class A common stock 0 $ (143) $ 143      
Share-based compensation 483   $ 483      
Stock issued under equity plans (in shares)     4      
Stock issued under equity plans 246   $ 246      
Shares withheld for taxes related to stock issued under equity plans (in shares)     (1)      
Shares withheld for taxes related to stock issued under equity plans (242)   $ (242)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (2,334)       (2,334)  
Repurchases of class A common stock (in shares)     (26)      
Repurchases of class A common stock (8,413)   $ (280)   (8,133)  
Ending balance (in shares) at Mar. 31, 2025   5        
Balance as of end of period at Mar. 31, 2025 38,030 $ 880 [1] $ 21,579 (120) 16,518 (827)
Ending balance (in shares) at Mar. 31, 2025     1,849      
Beginning balance (in shares) at Dec. 31, 2024   5        
Balance as of beginning of period at Dec. 31, 2024 38,296 $ 904 $ 21,324 (123) 17,438 (1,247)
Beginning balance (in shares) at Dec. 31, 2024     1,860      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 4,577       4,577  
Other comprehensive income (loss) 420         420
VE territory covered losses 3     3    
Conversions to class A common stock (in shares)   0 [3] 1      
Conversions to class A common stock 0 $ (24) $ 24      
Share-based compensation 259   $ 259      
Stock issued under equity plans (in shares)     1      
Stock issued under equity plans 119   $ 119      
Shares withheld for taxes related to stock issued under equity plans (in shares) [3]     0      
Shares withheld for taxes related to stock issued under equity plans (7)   $ (7)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (1,164)       (1,164)  
Repurchases of class A common stock (in shares)     (13)      
Repurchases of class A common stock (4,473)   $ (140)   (4,333)  
Ending balance (in shares) at Mar. 31, 2025   5        
Balance as of end of period at Mar. 31, 2025 $ 38,030 $ 880 [1] $ 21,579 (120) 16,518 (827)
Ending balance (in shares) at Mar. 31, 2025     1,849      
Beginning balance (in shares) at Sep. 30, 2025 5 5        
Balance as of beginning of period at Sep. 30, 2025 $ 37,909 $ 745 [4] $ 21,934 (124) 15,106 248
Beginning balance (in shares) at Sep. 30, 2025     1,825      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 11,874       11,874  
Other comprehensive income (loss) (226)         (226)
VE territory covered losses (28)     (28)    
Recovery through conversion rate adjustments (1) $ (109)   108    
Conversions to class A common stock (in shares)   0 [5] 2      
Conversions to class A common stock 0 $ (108) $ 108      
Share-based compensation 506   $ 506      
Stock issued under equity plans (in shares)     4      
Stock issued under equity plans 133   $ 133      
Shares withheld for taxes related to stock issued under equity plans (in shares)     (1)      
Shares withheld for taxes related to stock issued under equity plans (268)   $ (268)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (2,579)       (2,579)  
Repurchases of class A common stock (in shares)     (36)      
Repurchases of class A common stock $ (11,659)   $ (380)   (11,279)  
Ending balance (in shares) at Mar. 31, 2026 5 5        
Balance as of end of period at Mar. 31, 2026 $ 35,661 $ 528 [4] $ 22,033 (44) 13,122 22
Ending balance (in shares) at Mar. 31, 2026     1,794      
Beginning balance (in shares) at Dec. 31, 2025   5        
Balance as of beginning of period at Dec. 31, 2025 38,777 $ 551 $ 21,980 (19) 16,018 247
Beginning balance (in shares) at Dec. 31, 2025     1,817      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 6,021       6,021  
Other comprehensive income (loss) (225)         (225)
VE territory covered losses (25)     (25)    
Conversions to class A common stock (in shares)   0 [6] 1      
Conversions to class A common stock 0 $ (23) $ 23      
Share-based compensation 275   $ 275      
Stock issued under equity plans (in shares) [6]     1      
Stock issued under equity plans 55   $ 55      
Shares withheld for taxes related to stock issued under equity plans (in shares) [6]     0      
Shares withheld for taxes related to stock issued under equity plans (37)   $ (37)      
Cash dividends declared and paid, at a quarterly amount per class A common stock (1,286)       (1,286)  
Repurchases of class A common stock (in shares)     (25)      
Repurchases of class A common stock $ (7,894)   $ (263)   (7,631)  
Ending balance (in shares) at Mar. 31, 2026 5 5        
Balance as of end of period at Mar. 31, 2026 $ 35,661 $ 528 [4] $ 22,033 $ (44) $ 13,122 $ 22
Ending balance (in shares) at Mar. 31, 2026     1,794      
[1] As of March 31, 2025 and September 30, 2024, the book value of series A preferred stock was $397 million and $540 million, respectively. See Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock.
[2] Increase or decrease is less than one million.
[3] Increase or decrease is less than one million.
[4] As of March 31, 2026 and September 30, 2025, the book value of series A convertible participating preferred stock (series A preferred stock) was $405 million and $513 million, respectively. See Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B convertible participating preferred stock (series B preferred stock) and series C convertible participating preferred stock (series C preferred stock).
[5] Increase or decrease is less than one million.
[6] Increase or decrease is less than one million.
v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Sep. 30, 2025
Sep. 30, 2024
Dividends declared, quarterly, per share (in dollars per share) $ 0.67 $ 0.59 $ 0.67 $ 0.59    
Dividends paid, quarterly, per share (in dollars per share) $ 0.67 $ 0.59 $ 0.67 $ 0.59    
Book value of preferred stock $ 528   $ 528   $ 745  
Series A preferred stock            
Book value of preferred stock $ 405 $ 397 $ 405 $ 397 $ 513 $ 540
v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 11,874 $ 9,696
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Client incentives 8,514 7,531
Share-based compensation 506 483
Depreciation and amortization 659 587
Deferred income taxes 18 (86)
VE territory covered losses (28) (24)
(Gains) losses on equity investments, net 22 98
Other 22 65
Change in operating assets and liabilities:    
Settlement receivable 2,038 132
Accounts receivable (237) (156)
Client incentives (7,762) (7,190)
Other assets (1,851) (400)
Accounts payable (25) (45)
Settlement payable (1,696) (155)
Accrued and other liabilities (214) (796)
Accrued litigation (2,052) 351
Net cash provided by (used in) operating activities 9,788 10,091
Investing Activities    
Purchases of property, equipment and technology (761) (672)
Purchases of investment securities (50) 0
Proceeds from maturities and sales of investment securities 1,025 2,268
Acquisitions, net of cash, cash equivalents, restricted cash and restricted cash equivalents acquired (705) (887)
Purchases of other investments (28) (24)
Other investing activities 2 (25)
Net cash provided by (used in) investing activities (517) 660
Financing Activities    
Repurchases of class A common stock (11,625) (8,607)
Repayments of debt (4,000) 0
Dividends paid (2,579) (2,334)
Proceeds from issuance of senior notes 2,995 0
Proceeds from stock issued under equity plans 133 246
Taxes paid related to stock issued under equity plans (268) (242)
Other financing activities (52) (198)
Net cash provided by (used in) financing activities (15,396) (11,135)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (156) (243)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (6,281) (627)
Cash, cash equivalents, restricted cash and restricted cash equivalents as of beginning of period 24,987 19,763
Cash, cash equivalents, restricted cash and restricted cash equivalents as of end of period 18,706 19,136
Supplemental Disclosure    
Cash paid for income taxes, net [1] 3,984 3,055
Interest payments on debt 261 261
Accruals related to purchases of property, equipment and technology $ 125 $ 60
[1] For the six months ended March 31, 2026 and 2025, the amount includes cash paid for federal transferable tax credits of $1.8 billion and $1.3 billion, respectively.
v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($)
$ in Billions
 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Cash Flows [Abstract]    
Cash paid for transferable tax credits $ 1.8 $ 1.3
v3.26.1
Summary of Significant Accounting Policies
 6 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Note 1—Summary of Significant Accounting Policies
Organization. Visa Inc., together with its subsidiaries (Visa or the Company), is a global payments technology company that facilitates secure, reliable and efficient global commerce and money movement. Visa provides transaction processing services (primarily authorization, clearing and settlement) among consumers, issuing and acquiring financial institutions and sellers through its electronic payments network, VisaNet. Visa is focused on extending, enhancing and investing in its 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 not a financial institution and does not issue cards, extend credit or set rates and fees for account holders of Visa products. In most cases, account holder and seller relationships belong to, and are managed by, Visa’s financial institution clients.
Consolidation and basis of presentation. The accompanying unaudited consolidated financial statements include the accounts of Visa and its consolidated entities and are presented in accordance with accounting principles generally accepted in the United States of America (GAAP). The Company consolidates entities for which it has a controlling financial interest, as well as variable interest entities (VIEs) for which the Company is the primary beneficiary. The Company’s investments in VIEs have not been material to its unaudited consolidated financial statements as of and for the periods presented. Intercompany balances and transactions have been eliminated in consolidation.
The accompanying unaudited consolidated financial statements are presented in accordance with the U.S. Securities and Exchange Commission (SEC) requirements for Quarterly Reports on Form 10-Q and, consequently, do not include all of the annual disclosures required by GAAP. Reference should be made to Visa’s Annual Report on Form 10-K for the year ended September 30, 2025 for additional disclosures, including a summary of the Company’s significant accounting policies.
In the opinion of management, the accompanying unaudited consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods presented. The results of operations for interim periods are not necessarily indicative of results for the full year.
Use of estimates. The preparation of the accompanying unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and reported amounts of revenue and expenses during the reporting period. These estimates may change as new events occur and additional information is obtained, and such changes will be recognized in the period in which they occur. Future actual results could differ materially from these estimates.
Recently adopted accounting pronouncement. In November 2025, the Financial Accounting Standards Board issued Accounting Standards Update 2025-09, which includes amendments to more closely align hedge accounting with the economics of an entity’s risk management activities. During the three months ended December 31, 2025, the Company early adopted this standard on a prospective basis. The adoption did not have a material impact on the unaudited consolidated financial statements.
v3.26.1
Acquisitions
 6 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions
Note 2—Acquisitions
In February 2026, Visa acquired 100% of the equity interest of each of Prisma Medios de Pago S.A.U. (Prisma) and Newpay S.A.U. (Newpay) in Argentina for a total purchase consideration of $1.5 billion in cash. Prisma provides credit, debit and prepaid card issuer processing. Newpay is a multi-network infrastructure provider that operates real-time payments services, the Banelco ATM network and the bill payment platform PagoMisCuentas. This acquisition is expected to help accelerate the deployment of advanced technologies such as tokenization, biometric authentication, intelligent risk tools and agentic commerce solutions. These end-to-end capabilities will aim to improve services from issuers and enhance speed and security for consumers.
Total purchase consideration has been allocated to the assets acquired and liabilities assumed. If additional information becomes available, the Company may further revise the purchase price allocation as soon as practicable, but no later than one year from the acquisition date.
The following table summarizes the purchase price allocation in aggregate for Prisma and Newpay:
Purchase Price Allocation
Weighted-Average Useful Life of Intangibles
(in millions)(in years)
Technology$184 3
Customer relationships405 6
Deferred tax liabilities(202)
Other net assets acquired (liabilities assumed)(1)
57 
Goodwill1,065 
Total$1,509 5
(1)Include customer collateral asset and restricted cash, which are fully offset by corresponding customer collateral liability and settlement payable, respectively.
Goodwill is primarily attributable to synergies expected to be achieved from the acquisition and the assembled workforce. The goodwill recognized is not deductible for tax purposes.
This acquisition is subject to review by the Argentine competition authority.
v3.26.1
Revenue
 6 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
Note 3—Revenue
The nature, amount, timing and uncertainty of the Company’s revenue and cash flows and how they are affected by economic factors are most appropriately depicted through the Company’s revenue categories and geographical markets. The following tables disaggregate the Company’s net revenue by revenue category and by geography:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
Service revenue
$4,981 $4,399 $9,741 $8,607 
Data processing revenue
5,543 4,701 11,087 9,446 
International transaction revenue
3,631 3,291 7,283 6,733 
Other revenue
1,320 937 2,534 1,849 
Client incentives(4,245)(3,734)(8,514)(7,531)
Net revenue
$11,230 $9,594 $22,131 $19,104 
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
U.S.$4,319 $3,811 $8,482 $7,549 
International6,911 5,783 13,649 11,555 
Net revenue
$11,230 $9,594 $22,131 $19,104 
For the three months ended March 31, 2026 and 2025, revenue from value-added services was $3.3 billion and $2.6 billion, respectively. For the six months ended March 31, 2026 and 2025, revenue from value-added services was $6.5 billion and $5.0 billion, respectively. Revenue from value-added services is recognized within data processing, other and service revenue.
As of March 31, 2026 and September 30, 2025, deferred revenue was $1.9 billion and $1.7 billion, respectively. Deferred revenue is recorded in accrued liabilities on the consolidated balance sheets.
Remaining performance obligations are comprised of deferred revenue and contract revenue that will be invoiced and recognized as revenue in future periods primarily related to value-added services. As of March 31, 2026, the remaining performance obligations were $5.5 billion. The Company expects approximately half to be recognized as revenue in the next two years and the remaining thereafter. However, the amount and timing of revenue recognition is affected by several factors, including contract modifications and terminations, which could impact the estimate of amounts allocated to remaining performance obligations and when such revenue could be recognized.
v3.26.1
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
 6 Months Ended
Mar. 31, 2026
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
Note 4—Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
The Company reconciles cash, cash equivalents, restricted cash and restricted cash equivalents reported on the consolidated balance sheets that aggregate to the beginning and ending balances shown in the consolidated statements of cash flows as follows:
March 31,
2026		September 30,
2025
(in millions)
Cash and cash equivalents$12,404 $17,164 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow665 2,990 
Customer collateral4,292 3,625 
Prepaid expenses and other current assets 1,345 1,208 
Cash, cash equivalents, restricted cash and restricted cash equivalents
$18,706 $24,987 
v3.26.1
U.S. and Europe Retrospective Responsibility Plans
 6 Months Ended
Mar. 31, 2026
Retrospective Responsibility Plans [Abstract]  
U.S. and Europe Retrospective Responsibility Plans
Note 5—U.S. and Europe Retrospective Responsibility Plans
U.S. Retrospective Responsibility Plan
Under the terms of the U.S. retrospective responsibility plan, the Company maintains an escrow account from which settlements of, or judgments in, certain litigation (U.S. covered litigation) are paid. The accrual related to the U.S. covered litigation could be either higher or lower than the U.S. litigation escrow account balance. See Note 15—Legal Matters.
The following table presents the changes in the U.S. litigation escrow account:
Six Months Ended
March 31,
20262025
 (in millions)
Balance as of beginning of period
$2,990 $3,089 
Deposits into the U.S. litigation escrow account625 375 
Payments to opt-out merchants(1), net of interest earned on escrow funds
(2,950)(538)
Balance as of end of period
$665 $2,926 
(1)These payments are associated with the interchange multidistrict litigation. See Note 15—Legal Matters.
Europe Retrospective Responsibility Plan
Visa Inc., Visa International and Visa Europe are parties to certain existing and potential litigation relating to the setting of multilateral interchange fee rates in the Visa Europe territory (VE territory covered litigation). Under the terms of the Europe retrospective responsibility plan, the Company is entitled to recover certain losses resulting from VE territory covered litigation (VE territory covered losses) through periodic adjustments to the class A common stock conversion rates applicable to the series B and C preferred stock. VE territory covered losses are recorded in stockholders’ equity in the contra-equity account right to recover for covered losses before the corresponding adjustment to the applicable conversion rate is effected. Adjustments to the conversion rate may be executed once in any six-month period unless a single, individual loss greater than €20 million is incurred, in which case, the six-month limitation does not apply. When the adjustment to the conversion rate is made, the amount previously recorded in right to recover for covered losses is then recorded against the book value of the preferred stock within stockholders’ equity.
The following tables present the activities in the preferred stock and right to recover for covered losses within stockholders’ equity:
Six Months Ended
March 31, 2026
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of beginning of period
$67 $165 $(124)
VE territory covered losses(1)
— — (28)
Recovery through conversion rate adjustments(2)
(60)(49)108 
Balance as of end of period
$7 $116 $(44)
Six Months Ended
March 31, 2025
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of beginning of period
$104 $387 $(104)
VE territory covered losses(1)
— — (24)
Recovery through conversion rate adjustments
(5)(3)8 
Balance as of end of period
$99 $384 $(120)
(1)VE territory covered losses reflect litigation provision for settlements with merchants and additional legal costs. See Note 15—Legal Matters.
(2)Adjustments to right to recover for covered losses for the conversion rate adjustments differ from the actual recovered amounts due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustments.
The following table presents the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred stock recorded within the Company’s consolidated balance sheets:
March 31, 2026September 30, 2025
As-converted
Value(1),(2)
Book
Value
As-converted
Value(1),(3)
Book
Value
(in millions)
Series B preferred stock$447 $7 $566 $67 
Series C preferred stock684 116 823 165 
Total1,131 123 1,389 232 
Less: right to recover for covered losses(44)(44)(124)(124)
Total recovery for covered losses available$1,087 $79 $1,265 $108 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted value is based on unrounded numbers.
(2)As of March 31, 2026, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 0.5960 and 0.7170, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $302.24, Visa’s class A common stock closing stock price.
(3)As of September 30, 2025, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 0.6690 and 0.7640, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $341.38, Visa’s class A common stock closing stock price.
v3.26.1
Fair Value Measurements and Investments
 6 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Investments
Note 6—Fair Value Measurements and Investments
Assets and Liabilities Measured at Fair Value on a Recurring Basis
 Fair Value Measurements
Using Inputs Considered as
 Level 1Level 2
 March 31,
2026		September 30,
2025		March 31,
2026		September 30,
2025
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$8,154 $13,760 $— $— 
Investment securities:
Marketable equity securities
424 411 — — 
U.S. government-sponsored debt securities
— — 129 305 
U.S. Treasury securities
1,264 2,116 — — 
Other current and non-current assets:
Money market funds
33 28 — — 
Derivative instruments
— — 159 62 
Total $9,875 $16,315 $288 $367 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$266 $268 $— $— 
Accrued and other liabilities:
Derivative instruments
— — 234 319 
Total $266 $268 $234 $319 
Level 1 assets and liabilities. Money market funds, U.S. Treasury securities and marketable equity securities are classified as Level 1 within the fair value hierarchy, as fair value is based on unadjusted quoted prices in active
markets for identical assets. The Company’s deferred compensation liability is measured at fair value based on marketable equity securities held under the deferred compensation plan.
Level 2 assets and liabilities. The fair value of U.S. government-sponsored debt securities, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, assets. Derivative instruments are valued using inputs that are observable in the market or can be derived principally from or corroborated by observable market data.
U.S. Government-sponsored Debt Securities and U.S. Treasury Securities
The amortized cost, gross unrealized gains and losses and fair value of debt securities were as follows:
March 31, 2026
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$129 $— $— $129 
U.S. Treasury securities1,257 7 — 1,264 
Total$1,386 $7 $— $1,393 
September 30, 2025
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$304 $1 $— $305 
U.S. Treasury securities2,101 15 — 2,116 
Total$2,405 $16 $— $2,421 
The stated maturities of debt securities were as follows:
March 31,
2026
 (in millions)
Due within one year$1,243 
Due after one year through five years
150 
Total$1,393 
Equity Securities
Fair value measurement alternative. The Company’s investments in privately held companies do not have readily determinable fair values. These investments are measured at fair value on a non-recurring basis and are classified as Level 3 due to the absence of quoted market prices, the inherent lack of liquidity and the fact that significant inputs used to measure fair value are unobservable and require management’s judgment.
The following table summarizes the Company’s non-marketable equity securities held as of period end that were accounted for using the fair value measurement alternative:
March 31,
2026		September 30,
2025
(in millions)
Initial cost basis
$712 $711 
Adjustments:
Upward adjustments
574 564 
Downward adjustments, including impairment
(219)(219)
Carrying amount
$1,067 $1,056 
Unrealized gains and losses of the Company’s non-marketable equity securities held as of period end that were accounted for using the fair value measurement alternative were as follows:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
Upward adjustments$7 $7 $10 $7 
Downward adjustments, including impairment
$— $(31)$— $(49)
Other Fair Value Disclosures
Debt. Debt instruments are measured at amortized cost on the Company’s consolidated balance sheets. The fair value of the debt instruments, as provided by third-party pricing vendors, is based on quoted prices in active markets for similar, not identical, instruments. If measured at fair value in the financial statements, these instruments would be classified as Level 2 in the fair value hierarchy. As of March 31, 2026, the carrying value and estimated fair value of debt was $24.0 billion and $21.8 billion, respectively. As of September 30, 2025, the carrying value and estimated fair value of debt was $25.2 billion and $23.3 billion, respectively.
Other financial instruments not measured at fair value. As of March 31, 2026, the carrying values of settlement receivable and payable, accounts receivable and payable, and customer collateral are an approximate fair value due to their generally short maturities. If measured at fair value in the financial statements, these instruments would be classified as Level 2 in the fair value hierarchy.
Non-financial assets. Certain non-financial assets such as goodwill, intangible assets and property, equipment and technology are subject to non-recurring fair value measurements if they are deemed to be impaired. The Company performed an annual impairment review of its indefinite-lived intangible assets and goodwill as of February 1, 2026, and concluded there was no impairment as of that date. No recent events or changes in circumstances indicated that impairment existed as of March 31, 2026.
v3.26.1
Leases
 6 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases
Note 7—Leases
As of March 31, 2026, the Company had additional leases that had not yet commenced with estimated future payments of $560 million. These leases are expected to commence between fiscal 2027 and 2029 with lease terms between 9 and 14 years.
v3.26.1
Debt
 6 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Debt
Note 8—Debt
The Company had outstanding debt as follows:
March 31,
2026		September 30,
2025
Effective Interest Rate(1)
(in millions, except percentages)
U.S. dollar notes
3.15% Senior Notes due December 2025
$— $4,000 3.26%
1.90% Senior Notes due April 2027
1,500 1,500 2.02%
0.75% Senior Notes due August 2027
500 500 0.84%
2.75% Senior Notes due September 2027
750 750 2.91%
3.80% Senior Notes due February 2029
900 — 3.99%
2.05% Senior Notes due April 2030
1,500 1,500 2.13%
4.10% Senior Notes due February 2031
750 — 4.23%
1.10% Senior Notes due February 2031
1,000 1,000 1.20%
4.40% Senior Notes due February 2033
700 — 4.54%
4.15% Senior Notes due December 2035
1,500 1,500 4.23%
4.70% Senior Notes due February 2036
650 — 4.79%
2.70% Senior Notes due April 2040
1,000 1,000 2.80%
4.30% Senior Notes due December 2045
3,500 3,500 4.37%
3.65% Senior Notes due September 2047
750 750 3.73%
2.00% Senior Notes due August 2050
1,750 1,750 2.09%
Euro notes
1.50% Senior Notes due June 2026
1,560 1,587 1.71%
2.25% Senior Notes due May 2028
1,444 1,470 2.57%
2.00% Senior Notes due June 2029
1,156 1,176 2.13%
3.125% Senior Notes due May 2033
1,156 1,176 3.20%
2.375% Senior Notes due June 2034
751 764 2.53%
3.50% Senior Notes due May 2037
751 764 3.62%
3.875% Senior Notes due May 2044
693 705 4.02%
Total debt
24,261 25,392 
Unamortized discounts and debt issuance costs(172)(171)
Hedge accounting fair value adjustments(2)
(113)(50)
Total carrying value of debt
$23,976 $25,171 
Reported as:
Current maturities of debt$1,559 $5,569 
Long-term debt22,417 19,602 
Total carrying value of debt
$23,976 $25,171 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes.
Senior Notes
In February 2026, the Company issued fixed-rate senior notes in a public offering in an aggregate principal amount of $3.0 billion, with maturities ranging between 3 and 10 years and interest rates ranging between 3.80% and 4.70%. Interest on these notes is payable semi-annually on February 12 and August 12 of each year, commencing August 12, 2026. The net aggregate proceeds, after deducting discounts and debt issuance costs, were approximately $3.0 billion. The Company intends to use the net proceeds for general corporate purposes, which may include, among other things, the refinancing of existing indebtedness.
The Company’s outstanding senior notes are senior unsecured obligations of the Company, ranking equally and ratably among themselves and with the Company’s existing and future unsecured and unsubordinated debt. The senior notes are not secured by any assets of the Company and are not guaranteed by any of the Company’s subsidiaries. As of March 31, 2026, the Company was in compliance with all related covenants. Each series of senior notes may be redeemed as a whole or in part at the Company’s option at any time at specified redemption prices.
During the six months ended March 31, 2026, the Company repaid $4.0 billion of principal upon maturity of its senior notes due December 2025.
Commercial Paper Program
Visa maintains a commercial paper program to support its working capital requirements and for other general corporate purposes. Under the program, the Company is authorized to issue up to $3.0 billion in outstanding notes, with maturities up to 397 days from the date of issuance. As of March 31, 2026 and September 30, 2025, the Company had no outstanding obligations under the program. In April 2026, the Company issued and fully repaid $500 million of commercial paper.
v3.26.1
Settlement Guarantee Management
 6 Months Ended
Mar. 31, 2026
Settlement Guarantee Management [Abstract]  
Settlement Guarantee Management
Note 9—Settlement Guarantee Management
The Company indemnifies its issuing and acquiring clients for settlement losses suffered due to failure of any other client to fund its settlement obligations in accordance with the Visa operating rules. This indemnification creates settlement risk for the Company due to the difference in timing between the date of a payment transaction and the date of subsequent settlement. The Company maintains and regularly reviews global settlement risk policies and procedures to manage settlement risk, which may require clients to post collateral if certain credit standards are not met. Historically, the Company has experienced minimal losses as a result of its settlement risk guarantee. However, the Company’s future obligations, which could be material under its guarantees, are not determinable as they are dependent upon future events.
The Company’s settlement exposure is limited to the amount of unsettled Visa payment transactions at any point in time, which vary significantly day to day. For the six months ended March 31, 2026, the Company’s maximum daily settlement exposure was $168.6 billion and the average daily settlement exposure was $98.1 billion. To mitigate the risk of settlement exposure, the Company has various forms of collateral including restricted cash, restricted cash equivalents, letters of credit, guarantees, pledged securities and beneficial rights to trust assets. As of March 31, 2026 and September 30, 2025, the Company had total collateral of $9.5 billion and $8.8 billion, respectively.
v3.26.1
Segment Information
 6 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information
Note 10—Segment Information
The Company’s activities are interrelated, and each activity is dependent upon and supportive of the other. All significant operating decisions are based on analysis of Visa as a single global business. The Company has one reportable segment, Payment Services.
The Company’s chief operating decision maker (CODM) is the Chief Executive Officer, who uses consolidated net income in assessing performance and allocating resources. This profitability measure is used in the annual budgeting process, and to monitor current-period performance against budget and prior-period results in order to make key operating decisions. The CODM does not evaluate segment performance using asset information.
Significant expenses that are regularly provided to the CODM for the Company’s one reportable segment are presented on the consolidated statements of operations and are included within the reported measure of consolidated net income.
v3.26.1
Stockholders' Equity
 6 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Note 11—Stockholders’ Equity
As-converted class A common stock. The number of shares outstanding and the number of shares of class A common stock on an as-converted basis were as follows:
March 31, 2026September 30, 2025
Shares
Outstanding		Conversion Rate Into 
Class A
Common Stock
As-converted Class A
Common
Stock(1)
Shares
Outstanding		Conversion Rate Into
Class A
Common Stock
As-converted Class A
Common
Stock(1)
(in millions, except conversion rate)
Series A preferred stock— 
(2)
100.0000 7 — 
(2)
100.0000 8 
Series B preferred stock2 0.5960 1 2 0.6690 2 
Series C preferred stock3 0.7170 2 3 0.7640 2 
Class A common stock1,660 — 1,660 1,691 — 1,691 
Class B-1 common stock
5 1.5475 
(3)
7 5 1.5549 
(3)
8 
Class B-2 common stock
120 1.5075 
(3)
181 120 1.5223 
(3)
183 
Class C common stock9 4.0000 36 9 4.0000 36 
Total1,894 1,930 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.
(2)The number of shares outstanding was less than one million.
(3)The class B-1 and class B-2 to class A common stock conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal. Conversion rates are presented on a rounded basis.
Reduction in as-converted shares. The following table presents the reduction in the number of as-converted class B-1 and B-2 common stock after deposits into the U.S. litigation escrow account under the U.S. retrospective responsibility plan:
Six Months Ended
March 31,
20262025
(in millions, except per share data)
Reduction in equivalent number of class A common stock2 1 
Effective price per share(1)
$345.17 $346.79 
Deposits into the U.S. litigation escrow account
$625 $375 
(1)Effective price per share for the period represents the weighted-average price calculated using the effective prices per share of the respective adjustments made during the period. Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificate of incorporation.
The following table presents the reduction in the number of as-converted series B and C preferred stock after recovery of VE territory covered losses through conversion rate adjustments under the Europe retrospective responsibility plan:
Six Months Ended
March 31, 2026		Six Months Ended
March 31, 2025
Series BSeries CSeries BSeries C
(in millions, except per share data)
Reduction in equivalent number of class A common stock— 
(1)
— 
(1)
— 
(1)
— 
(1)
Effective price per share(2)
$330.96 $330.96 $312.39 $312.39 
Recovery through conversion rate adjustments
$60 $49 $5 $3 
(1)The reduction in equivalent number of class A common stock was less than one million shares.
(2)Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C preferred stock.
Common stock repurchases. The following table presents share repurchases in the open market:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions, except per share data)
Shares repurchased in the open market(1)
25 13 36 26 
Average repurchase cost per share(2)
$320.66 $340.26 $327.29 $320.47 
Total cost(2)
$7,894 $4,473 $11,659 $8,413 
(1)Shares repurchased in the open market are retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase cost per share and total cost are calculated based on unrounded numbers and include applicable taxes. As of March 31, 2026 and 2025, shares repurchased in the open market include unsettled repurchases of $125 million and $61 million, respectively.
In April 2025, the Company’s board of directors authorized a $30.0 billion share repurchase program, providing multi-year flexibility. As of March 31, 2026, the Company’s share repurchase program had remaining authorized funds of $13.2 billion. All share repurchase programs authorized prior to April 2025 have been completed. In April 2026, the Company’s board of directors authorized a new $20.0 billion share repurchase program, providing multi-year flexibility. These authorizations have no expiration date.
Dividends. For the three months ended March 31, 2026 and 2025, the Company declared and paid dividends of $1,286 million and $1,164 million, respectively. For the six months ended March 31, 2026 and 2025, the Company declared and paid dividends of $2.6 billion and $2.3 billion, respectively. On April 28, 2026, the Company’s board of directors declared a quarterly cash dividend of $0.67 per share of class A common stock (determined in the case of all other outstanding common and preferred stock on an as-converted basis), payable on June 1, 2026 to all holders of record as of May 12, 2026
v3.26.1
Earnings Per Share
 6 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings Per Share
Note 12—Earnings Per Share
The following tables present earnings per share:
Three Months Ended
March 31, 2026
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$5,265 1,674 $3.15 $6,021 
(3)
1,916 
(3)
$3.14 
Class B-1 common stock24 5 $4.87 $24 5 $4.87 
Class B-2 common stock571 120 $4.75 $571 120 $4.74 
Class C common stock112 9 $12.58 $112 9 $12.57 
Participating securities49 Not presentedNot presented$49 Not presentedNot presented
Net income$6,021 
Six Months Ended
March 31, 2026
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$10,382 1,681 $6.18 $11,874 
(3)
1,924 
(3)
$6.17 
Class B-1 common stock46 5 $9.58 $46 5 $9.57 
Class B-2 common stock1,126 120 $9.36 $1,125 120 $9.35 
Class C common stock220 9 $24.71 $220 9 $24.68 
Participating securities100 Not presentedNot presented$100 Not presentedNot presented
Net income$11,874 
Three Months Ended
March 31, 2025
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$3,996 1,721 $2.32 $4,577 
(3)
1,974 
(3)
$2.32 
Class B-1 common stock18 5 $3.63 $18 5 $3.63 
Class B-2 common stock431 120 $3.58 $430 120 $3.58 
Class C common stock85 9 $9.29 $85 9 $9.27 
Participating securities47 Not presentedNot presented$47 Not presentedNot presented
Net income$4,577 
Six Months Ended
March 31, 2025
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$8,463 1,725 $4.90 $9,696 
(3)
1,979 
(3)
$4.90 
Class B-1 common stock37 5 $7.68 $37 5 $7.67 
Class B-2 common stock911 120 $7.57 $909 120 $7.56 
Class C common stock183 9 $19.62 $183 9 $19.59 
Participating securities102 Not presentedNot presented$102 Not presentedNot presented
Net income$9,696 
(1)Income allocation is based on the weighted-average number of as-converted class A common stock outstanding as shown in the table below.
(2)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.
(3)Diluted class A common stock earnings per share calculation includes the assumed conversion of any class B-1, B-2 and C common stock and participating securities on an as-converted basis as shown in the table below and the incremental common stock equivalents related to employee stock plans, as calculated under the treasury stock method. For the three and six months ended March 31, 2026 and 2025, the common stock equivalents were not material for each period.

The following table presents the weighted-average number of as-converted class A common stock outstanding:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
Class B-1 common stock7 8 8 8 
Class B-2 common stock
182 186 182 186 
Class C common stock36 37 36 37 
Participating securities16 20 16 21 
v3.26.1
Share-based Compensation
 6 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Share-based Compensation
Note 13—Share-based Compensation
The following table presents the equity awards granted to employees and non-employee directors under the amended and restated 2007 Equity Incentive Compensation Plan (EIP) for the six months ended March 31, 2026:
GrantedWeighted-Average Grant Date Fair ValueWeighted-Average Exercise Price
Non-qualified stock options714,321 $76.23 $324.13 
Restricted stock units2,539,719 $324.55 
Performance shares(1)
381,324 $344.15 
(1)Represents the maximum number of performance shares which could be earned.
For the three months ended March 31, 2026 and 2025, the Company recorded share-based compensation cost related to the EIP of $264 million and $250 million, respectively. For the six months ended March 31, 2026 and 2025, the Company recorded share-based compensation cost related to the EIP of $485 million and $465 million, respectively.
v3.26.1
Income Taxes
 6 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes
Note 14—Income Taxes
For the three and six months ended March 31, 2026, the effective income tax rates were 16% and 15%, respectively. For the three and six months ended March 31, 2025, the effective income tax rates were 16% and 17%, respectively. The effective income tax rates differ primarily due to the following:
•For the three and six months ended March 31, 2026, a $217 million tax benefit as a result of a tax position taken on certain expenses;
•For the six months ended March 31, 2026, a $333 million deferred tax benefit due to a change in the U.S. taxation of certain foreign earnings; and
•For the three and six months ended March 31, 2025, a $222 million tax benefit as a result of a tax position taken on certain expenses, partially offset by a $71 million tax expense related to the resolution of a tax matter.
For the three and six months ended March 31, 2026, the Company’s gross unrecognized tax benefits increased $24 million and $37 million, respectively, and the Company’s net unrecognized tax benefits increased $22 million and $33 million, respectively. The change in unrecognized tax benefits is related to various tax positions across several jurisdictions.
For fiscal 2016 through 2018, the Internal Revenue Service completed its examination of the Company’s U.S. federal income tax returns. The Company is filing an appeal due to an unresolved issue related to certain income tax deductions.
The Company’s tax filings are subject to examination by U.S. federal, state and foreign taxing authorities. The timing and outcome of the final resolutions of the various ongoing income tax examinations and refund claims are uncertain.
v3.26.1
Legal Matters
 6 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Legal Matters
Note 15—Legal Matters
The Company is a party to various legal and regulatory proceedings. Some of these proceedings involve complex claims that are subject to substantial uncertainties and unascertainable damages. For those proceedings where a loss is determined to be only reasonably possible or probable but not estimable, the Company has disclosed the nature of the claim. Additionally, unless otherwise disclosed below with respect to these proceedings, the Company cannot provide an estimate of the possible loss or range of loss. Although the Company believes that it has strong defenses for the litigation and regulatory proceedings described below, it could, in the future, incur judgments or fines or enter into settlements of claims that could have a material adverse effect on the Company’s financial position, results of operations or cash flows. From time to time, the Company may engage in settlement discussions or mediations with respect to one or more of its outstanding litigation matters, either on its own behalf or collectively with other parties.
The litigation accrual is an estimate and is based on management’s understanding of its litigation profile, the specifics of each case, advice of counsel to the extent appropriate and management’s best estimate of incurred loss as of the balance sheet date.
The following table summarizes the activity related to accrued litigation:
 Six Months Ended
March 31,
 20262025
 (in millions)
Balance as of beginning of period
$3,033 $1,727 
Provision for uncovered legal matters143 25 
Provision for covered legal matters915 1,034 
Payments for legal matters(3,110)(710)
Balance as of end of period
$981 $2,076 
Accrual Summary—U.S. Covered Litigation
Visa Inc., Visa U.S.A. and Visa International are parties to certain legal proceedings that are covered by the U.S. retrospective responsibility plan, which the Company refers to as the U.S. covered litigation. An accrual for the U.S. covered litigation and a charge to the litigation provision are recorded when a loss is deemed to be probable and reasonably estimable. In making this determination, the Company evaluates available information, including but not limited to actions taken by the Company’s litigation committee. The total accrual related to the U.S. covered litigation could be either higher or lower than the escrow account balance. See further discussion below under U.S. Covered Litigation and Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table summarizes the accrual activity related to U.S. covered litigation:
 Six Months Ended
March 31,
 20262025
 (in millions)
Balance as of beginning of period
$2,698 $1,537 
Provision for interchange multidistrict litigation894 1,019 
Payments for U.S. covered litigation(2,977)(580)
Balance as of end of period
$615 $1,976 
For the six months ended March 31, 2026, the Company recorded additional accruals of $894 million and deposited $625 million into the U.S. litigation escrow account to address claims associated with the interchange multidistrict litigation. The accrual balance is consistent with the Company’s best estimate of its share of a probable and reasonably estimable loss with respect to the U.S. covered litigation. While this estimate is consistent with the Company’s view of the current status of the litigation, the probable and reasonably estimable loss or range of such loss could materially vary based on developments in the litigation. The Company will continue to consider and reevaluate this estimate in light of the substantial uncertainties with respect to the litigation. The Company is unable to estimate a potential loss or range of loss, if any, at trial if negotiated resolutions cannot be reached.
Accrual Summary—VE Territory Covered Litigation
Visa Inc., Visa International and Visa Europe are parties to certain legal proceedings that are covered by the Europe retrospective responsibility plan. Unlike the U.S. retrospective responsibility plan, the Europe retrospective responsibility plan does not have an escrow account that is used to fund settlements or judgments. The Company is entitled to recover VE territory covered losses through periodic adjustments to the class A common stock conversion rates applicable to the series B and C preferred stock. An accrual for the VE territory covered losses and a reduction to stockholders’ equity will be recorded when the loss is deemed to be probable and reasonably estimable. See further discussion below under VE Territory Covered Litigation and Note 5—U.S. and Europe Retrospective Responsibility Plans.
The following table summarizes the accrual activity related to VE territory covered litigation:
 Six Months Ended
March 31,
 20262025
(in millions)
Balance as of beginning of period
$9 $72 
Provision for VE territory covered litigation21 15 
Payments for VE territory covered litigation(9)(24)
Balance as of end of period
$21 $63 
U.S. Covered Litigation
Interchange Multidistrict Litigation (MDL) - Class Actions
On November 10, 2025, Visa and Mastercard entered into a superseding and amended settlement agreement to resolve the Injunctive Relief Class claims and the Injunctive Relief Class plaintiffs filed a motion for preliminary approval of the settlement.
On April 21, 2026, three merchants that are members of the Damages Class filed a motion for partial summary judgment in MDL 1720 seeking a declaration that the forward-looking release in the Amended Settlement Agreement resolving the Damages Class claims is invalid and unenforceable under federal law. See Potayto-Potahto Interchange Litigation.
Interchange Multidistrict Litigation (MDL) – Individual Merchant Actions
Visa has reached settlements with a number of merchants representing approximately 94% of the Visa-branded payment card sales volume of merchants who opted out of the Amended Settlement Agreement with the Damages Class plaintiffs. As a result of settlements reached during the three months ended March 31, 2026, all actions that were scheduled for trial beginning in April 2026 in the Southern District of New York have been resolved.
VE Territory Covered Litigation
Visa filed a jurisdictional challenge in the Dutch class action on December 17, 2025.
On February 18, 2026, the UK Competition Appeal Tribunal (CAT) issued a decision finding that, except in certain merchant categories, interchange was not passed on by merchants, and Visa has sought permission from the UK Court of Appeal to appeal that decision. On March 17, 2026, the UK Court of Appeal granted Visa permission to appeal the June 2025 decision by the CAT that certain interchange rates restrict competition under UK competition law.
Other Litigation
U.S. Debit Class Actions
On February 27, 2026, merchants and cardholders filed further amended consolidated complaints, both of which added several putative class representatives.
U.S. Securities Class Action
On December 10, 2025, the court granted Visa’s motion to dismiss the amended complaint with leave to amend, and denied the motion to strike as moot. On January 9, 2026, plaintiff filed a second amended complaint, and Visa filed a motion to dismiss on January 23, 2026.
Debit Surcharge Class Action
On December 12, 2025, the court granted Visa’s motion to dismiss the amended complaint without further leave to amend. Plaintiff appealed but subsequently dismissed its appeal.
U.S. ATM Access Fee Litigation
On December 18, 2025, plaintiffs in Burke filed a motion for preliminary approval of the class settlement with Visa and Mastercard.
In the National ATM Council Class Action, on February 18, 2026, Visa and Mastercard filed a motion for summary judgment and plaintiffs filed a motion for partial summary judgment.
EMV Chip Liability Shift
On February 19, 2026, plaintiffs filed a motion for final approval of the class settlement with Visa and Mastercard, as well as the class settlement with Discover and American Express.
MiCamp Solutions
On December 11, 2025, the court granted Visa’s motion to dismiss and dismissed plaintiffs’ case without further leave to amend.
German ATM Litigation
Several of Visa’s jurisdictional challenges are pending in the German Federal Court of Justice.
Europe Interchange Litigation
On April 20, 2026, a group of merchants from across Europe filed a claim in the UK High Court against several Visa entities. The merchants allege that interchange fees on transactions in Europe are an unlawful restriction of competition and seek damages for the period from January 1, 2019 to present.
Potayto-Potahto Interchange Litigation
On April 21, 2026, Potayto-Potahto, LLC and two other merchants filed a class action complaint in the U.S. District Court for the Southern District of New York against Visa Inc., Visa U.S.A., Visa International, Mastercard Incorporated, and Mastercard International Incorporated, asserting violations of federal antitrust laws consistent with allegations made in MDL 1720. The complaint is brought on behalf of merchants that have accepted Visa and/or Mastercard credit cards since January 25, 2019, and seeks damages from that date. See Interchange Multidistrict Litigation (MDL) - Class Actions.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Organization
Organization. Visa Inc., together with its subsidiaries (Visa or the Company), is a global payments technology company that facilitates secure, reliable and efficient global commerce and money movement. Visa provides transaction processing services (primarily authorization, clearing and settlement) among consumers, issuing and acquiring financial institutions and sellers through its electronic payments network, VisaNet. Visa is focused on extending, enhancing and investing in its 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 not a financial institution and does not issue cards, extend credit or set rates and fees for account holders of Visa products. In most cases, account holder and seller relationships belong to, and are managed by, Visa’s financial institution clients.
Consolidation and basis of presentation
Consolidation and basis of presentation. The accompanying unaudited consolidated financial statements include the accounts of Visa and its consolidated entities and are presented in accordance with accounting principles generally accepted in the United States of America (GAAP). The Company consolidates entities for which it has a controlling financial interest, as well as variable interest entities (VIEs) for which the Company is the primary beneficiary. The Company’s investments in VIEs have not been material to its unaudited consolidated financial statements as of and for the periods presented. Intercompany balances and transactions have been eliminated in consolidation.
The accompanying unaudited consolidated financial statements are presented in accordance with the U.S. Securities and Exchange Commission (SEC) requirements for Quarterly Reports on Form 10-Q and, consequently, do not include all of the annual disclosures required by GAAP. Reference should be made to Visa’s Annual Report on Form 10-K for the year ended September 30, 2025 for additional disclosures, including a summary of the Company’s significant accounting policies.
In the opinion of management, the accompanying unaudited consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods presented. The results of operations for interim periods are not necessarily indicative of results for the full year.
Use of estimates
Use of estimates. The preparation of the accompanying unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and reported amounts of revenue and expenses during the reporting period. These estimates may change as new events occur and additional information is obtained, and such changes will be recognized in the period in which they occur. Future actual results could differ materially from these estimates.
Recently adopted accounting pronouncement
Recently adopted accounting pronouncement. In November 2025, the Financial Accounting Standards Board issued Accounting Standards Update 2025-09, which includes amendments to more closely align hedge accounting with the economics of an entity’s risk management activities. During the three months ended December 31, 2025, the Company early adopted this standard on a prospective basis. The adoption did not have a material impact on the unaudited consolidated financial statements.
v3.26.1
Acquisitions (Tables)
 6 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Purchase Price Allocation
The following table summarizes the purchase price allocation in aggregate for Prisma and Newpay:
Purchase Price Allocation
Weighted-Average Useful Life of Intangibles
(in millions)(in years)
Technology$184 3
Customer relationships405 6
Deferred tax liabilities(202)
Other net assets acquired (liabilities assumed)(1)
57 
Goodwill1,065 
Total$1,509 5
(1)Include customer collateral asset and restricted cash, which are fully offset by corresponding customer collateral liability and settlement payable, respectively.
v3.26.1
Revenue (Tables)
 6 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue The following tables disaggregate the Company’s net revenue by revenue category and by geography:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
Service revenue
$4,981 $4,399 $9,741 $8,607 
Data processing revenue
5,543 4,701 11,087 9,446 
International transaction revenue
3,631 3,291 7,283 6,733 
Other revenue
1,320 937 2,534 1,849 
Client incentives(4,245)(3,734)(8,514)(7,531)
Net revenue
$11,230 $9,594 $22,131 $19,104 
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
U.S.$4,319 $3,811 $8,482 $7,549 
International6,911 5,783 13,649 11,555 
Net revenue
$11,230 $9,594 $22,131 $19,104 
v3.26.1
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Tables)
 6 Months Ended
Mar. 31, 2026
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]  
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents
The Company reconciles cash, cash equivalents, restricted cash and restricted cash equivalents reported on the consolidated balance sheets that aggregate to the beginning and ending balances shown in the consolidated statements of cash flows as follows:
March 31,
2026		September 30,
2025
(in millions)
Cash and cash equivalents$12,404 $17,164 
Restricted cash and restricted cash equivalents:
U.S. litigation escrow665 2,990 
Customer collateral4,292 3,625 
Prepaid expenses and other current assets 1,345 1,208 
Cash, cash equivalents, restricted cash and restricted cash equivalents
$18,706 $24,987 
v3.26.1
U.S. and Europe Retrospective Responsibility Plans (Tables)
 6 Months Ended
Mar. 31, 2026
Retrospective Responsibility Plans [Abstract]  
Schedule of Changes in the U.S. Litigation Escrow Account
The following table presents the changes in the U.S. litigation escrow account:
Six Months Ended
March 31,
20262025
 (in millions)
Balance as of beginning of period
$2,990 $3,089 
Deposits into the U.S. litigation escrow account625 375 
Payments to opt-out merchants(1), net of interest earned on escrow funds
(2,950)(538)
Balance as of end of period
$665 $2,926 
(1)These payments are associated with the interchange multidistrict litigation. See Note 15—Legal Matters.
Schedule of Changes in Preferred Stock and Right to Recover for Covered Losses
The following tables present the activities in the preferred stock and right to recover for covered losses within stockholders’ equity:
Six Months Ended
March 31, 2026
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of beginning of period
$67 $165 $(124)
VE territory covered losses(1)
— — (28)
Recovery through conversion rate adjustments(2)
(60)(49)108 
Balance as of end of period
$7 $116 $(44)
Six Months Ended
March 31, 2025
Preferred StockRight to Recover for Covered Losses
Series BSeries C
(in millions)
Balance as of beginning of period
$104 $387 $(104)
VE territory covered losses(1)
— — (24)
Recovery through conversion rate adjustments
(5)(3)8 
Balance as of end of period
$99 $384 $(120)
(1)VE territory covered losses reflect litigation provision for settlements with merchants and additional legal costs. See Note 15—Legal Matters.
(2)Adjustments to right to recover for covered losses for the conversion rate adjustments differ from the actual recovered amounts due to differences in foreign exchange rates between the time the losses were incurred and the subsequent recovery through the conversion rate adjustments.
Schedule of Preferred Stock As-Converted Value and Book Value
The following table presents the as-converted value of the preferred stock available to recover VE territory covered losses compared to the book value of preferred stock recorded within the Company’s consolidated balance sheets:
March 31, 2026September 30, 2025
As-converted
Value(1),(2)
Book
Value
As-converted
Value(1),(3)
Book
Value
(in millions)
Series B preferred stock$447 $7 $566 $67 
Series C preferred stock684 116 823 165 
Total1,131 123 1,389 232 
Less: right to recover for covered losses(44)(44)(124)(124)
Total recovery for covered losses available$1,087 $79 $1,265 $108 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted value is based on unrounded numbers.
(2)As of March 31, 2026, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 0.5960 and 0.7170, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $302.24, Visa’s class A common stock closing stock price.
(3)As of September 30, 2025, the as-converted value of preferred stock is calculated as the product of: (a) 2 million and 3 million shares of the series B and C preferred stock outstanding, respectively; (b) 0.6690 and 0.7640, the class A common stock conversion rate applicable to the series B and C preferred stock outstanding, respectively; and (c) $341.38, Visa’s class A common stock closing stock price.
v3.26.1
Fair Value Measurements and Investments (Tables)
 6 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
 Fair Value Measurements
Using Inputs Considered as
 Level 1Level 2
 March 31,
2026		September 30,
2025		March 31,
2026		September 30,
2025
 (in millions)
Assets
Cash equivalents and restricted cash equivalents:
Money market funds
$8,154 $13,760 $— $— 
Investment securities:
Marketable equity securities
424 411 — — 
U.S. government-sponsored debt securities
— — 129 305 
U.S. Treasury securities
1,264 2,116 — — 
Other current and non-current assets:
Money market funds
33 28 — — 
Derivative instruments
— — 159 62 
Total $9,875 $16,315 $288 $367 
Liabilities
Accrued compensation and benefits:
Deferred compensation liability
$266 $268 $— $— 
Accrued and other liabilities:
Derivative instruments
— — 234 319 
Total $266 $268 $234 $319 
Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Debt Securities
The amortized cost, gross unrealized gains and losses and fair value of debt securities were as follows:
March 31, 2026
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$129 $— $— $129 
U.S. Treasury securities1,257 7 — 1,264 
Total$1,386 $7 $— $1,393 
September 30, 2025
Amortized
Cost		Gross UnrealizedFair
Value
GainsLosses
(in millions)
U.S. government-sponsored debt securities$304 $1 $— $305 
U.S. Treasury securities2,101 15 — 2,116 
Total$2,405 $16 $— $2,421 
Schedule of Debt Securities Classified by Contractual Maturity Date
The stated maturities of debt securities were as follows:
March 31,
2026
 (in millions)
Due within one year$1,243 
Due after one year through five years
150 
Total$1,393 
Schedule of Non-Marketable Equity Securities
The following table summarizes the Company’s non-marketable equity securities held as of period end that were accounted for using the fair value measurement alternative:
March 31,
2026		September 30,
2025
(in millions)
Initial cost basis
$712 $711 
Adjustments:
Upward adjustments
574 564 
Downward adjustments, including impairment
(219)(219)
Carrying amount
$1,067 $1,056 
Unrealized gains and losses of the Company’s non-marketable equity securities held as of period end that were accounted for using the fair value measurement alternative were as follows:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
Upward adjustments$7 $7 $10 $7 
Downward adjustments, including impairment
$— $(31)$— $(49)
v3.26.1
Debt (Tables)
 6 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The Company had outstanding debt as follows:
March 31,
2026		September 30,
2025
Effective Interest Rate(1)
(in millions, except percentages)
U.S. dollar notes
3.15% Senior Notes due December 2025
$— $4,000 3.26%
1.90% Senior Notes due April 2027
1,500 1,500 2.02%
0.75% Senior Notes due August 2027
500 500 0.84%
2.75% Senior Notes due September 2027
750 750 2.91%
3.80% Senior Notes due February 2029
900 — 3.99%
2.05% Senior Notes due April 2030
1,500 1,500 2.13%
4.10% Senior Notes due February 2031
750 — 4.23%
1.10% Senior Notes due February 2031
1,000 1,000 1.20%
4.40% Senior Notes due February 2033
700 — 4.54%
4.15% Senior Notes due December 2035
1,500 1,500 4.23%
4.70% Senior Notes due February 2036
650 — 4.79%
2.70% Senior Notes due April 2040
1,000 1,000 2.80%
4.30% Senior Notes due December 2045
3,500 3,500 4.37%
3.65% Senior Notes due September 2047
750 750 3.73%
2.00% Senior Notes due August 2050
1,750 1,750 2.09%
Euro notes
1.50% Senior Notes due June 2026
1,560 1,587 1.71%
2.25% Senior Notes due May 2028
1,444 1,470 2.57%
2.00% Senior Notes due June 2029
1,156 1,176 2.13%
3.125% Senior Notes due May 2033
1,156 1,176 3.20%
2.375% Senior Notes due June 2034
751 764 2.53%
3.50% Senior Notes due May 2037
751 764 3.62%
3.875% Senior Notes due May 2044
693 705 4.02%
Total debt
24,261 25,392 
Unamortized discounts and debt issuance costs(172)(171)
Hedge accounting fair value adjustments(2)
(113)(50)
Total carrying value of debt
$23,976 $25,171 
Reported as:
Current maturities of debt$1,559 $5,569 
Long-term debt22,417 19,602 
Total carrying value of debt
$23,976 $25,171 
(1)Effective interest rates disclosed do not reflect hedge accounting adjustments.
(2)Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes.
v3.26.1
Stockholders' Equity (Tables)
 6 Months Ended
Mar. 31, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Stock by Class
As-converted class A common stock. The number of shares outstanding and the number of shares of class A common stock on an as-converted basis were as follows:
March 31, 2026September 30, 2025
Shares
Outstanding		Conversion Rate Into 
Class A
Common Stock
As-converted Class A
Common
Stock(1)
Shares
Outstanding		Conversion Rate Into
Class A
Common Stock
As-converted Class A
Common
Stock(1)
(in millions, except conversion rate)
Series A preferred stock— 
(2)
100.0000 7 — 
(2)
100.0000 8 
Series B preferred stock2 0.5960 1 2 0.6690 2 
Series C preferred stock3 0.7170 2 3 0.7640 2 
Class A common stock1,660 — 1,660 1,691 — 1,691 
Class B-1 common stock
5 1.5475 
(3)
7 5 1.5549 
(3)
8 
Class B-2 common stock
120 1.5075 
(3)
181 120 1.5223 
(3)
183 
Class C common stock9 4.0000 36 9 4.0000 36 
Total1,894 1,930 
(1)Figures in the table may not recalculate exactly due to rounding. As-converted class A common stock is calculated based on unrounded numbers.
(2)The number of shares outstanding was less than one million.
(3)The class B-1 and class B-2 to class A common stock conversion calculations for dividend payments are based on a conversion rate rounded to the tenth decimal. Conversion rates are presented on a rounded basis.
Schedule of Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock
Reduction in as-converted shares. The following table presents the reduction in the number of as-converted class B-1 and B-2 common stock after deposits into the U.S. litigation escrow account under the U.S. retrospective responsibility plan:
Six Months Ended
March 31,
20262025
(in millions, except per share data)
Reduction in equivalent number of class A common stock2 1 
Effective price per share(1)
$345.17 $346.79 
Deposits into the U.S. litigation escrow account
$625 $375 
(1)Effective price per share for the period represents the weighted-average price calculated using the effective prices per share of the respective adjustments made during the period. Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificate of incorporation.
The following table presents the reduction in the number of as-converted series B and C preferred stock after recovery of VE territory covered losses through conversion rate adjustments under the Europe retrospective responsibility plan:
Six Months Ended
March 31, 2026		Six Months Ended
March 31, 2025
Series BSeries CSeries BSeries C
(in millions, except per share data)
Reduction in equivalent number of class A common stock— 
(1)
— 
(1)
— 
(1)
— 
(1)
Effective price per share(2)
$330.96 $330.96 $312.39 $312.39 
Recovery through conversion rate adjustments
$60 $49 $5 $3 
(1)The reduction in equivalent number of class A common stock was less than one million shares.
(2)Effective price per share for each adjustment is calculated using the volume-weighted average price of the Company’s class A common stock over a pricing period in accordance with the Company’s current certificates of designations for its series B and C preferred stock.
Schedule of Share Repurchase Program Disclosure
Common stock repurchases. The following table presents share repurchases in the open market:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions, except per share data)
Shares repurchased in the open market(1)
25 13 36 26 
Average repurchase cost per share(2)
$320.66 $340.26 $327.29 $320.47 
Total cost(2)
$7,894 $4,473 $11,659 $8,413 
(1)Shares repurchased in the open market are retired and constitute authorized but unissued shares.
(2)Figures in the table may not recalculate exactly due to rounding. Average repurchase cost per share and total cost are calculated based on unrounded numbers and include applicable taxes. As of March 31, 2026 and 2025, shares repurchased in the open market include unsettled repurchases of $125 million and $61 million, respectively.
v3.26.1
Earnings Per Share (Tables)
 6 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following tables present earnings per share:
Three Months Ended
March 31, 2026
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$5,265 1,674 $3.15 $6,021 
(3)
1,916 
(3)
$3.14 
Class B-1 common stock24 5 $4.87 $24 5 $4.87 
Class B-2 common stock571 120 $4.75 $571 120 $4.74 
Class C common stock112 9 $12.58 $112 9 $12.57 
Participating securities49 Not presentedNot presented$49 Not presentedNot presented
Net income$6,021 
Six Months Ended
March 31, 2026
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$10,382 1,681 $6.18 $11,874 
(3)
1,924 
(3)
$6.17 
Class B-1 common stock46 5 $9.58 $46 5 $9.57 
Class B-2 common stock1,126 120 $9.36 $1,125 120 $9.35 
Class C common stock220 9 $24.71 $220 9 $24.68 
Participating securities100 Not presentedNot presented$100 Not presentedNot presented
Net income$11,874 
Three Months Ended
March 31, 2025
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$3,996 1,721 $2.32 $4,577 
(3)
1,974 
(3)
$2.32 
Class B-1 common stock18 5 $3.63 $18 5 $3.63 
Class B-2 common stock431 120 $3.58 $430 120 $3.58 
Class C common stock85 9 $9.29 $85 9 $9.27 
Participating securities47 Not presentedNot presented$47 Not presentedNot presented
Net income$4,577 
Six Months Ended
March 31, 2025
 Basic Earnings Per ShareDiluted Earnings Per Share
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
Income
Allocation
(A)(1)
Weighted-
Average
Shares
Outstanding (B)
Earnings per
Share =
(A)/(B)(2)
(in millions, except per share data)
Class A common stock$8,463 1,725 $4.90 $9,696 
(3)
1,979 
(3)
$4.90 
Class B-1 common stock37 5 $7.68 $37 5 $7.67 
Class B-2 common stock911 120 $7.57 $909 120 $7.56 
Class C common stock183 9 $19.62 $183 9 $19.59 
Participating securities102 Not presentedNot presented$102 Not presentedNot presented
Net income$9,696 
(1)Income allocation is based on the weighted-average number of as-converted class A common stock outstanding as shown in the table below.
(2)Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are calculated based on unrounded numbers.
(3)Diluted class A common stock earnings per share calculation includes the assumed conversion of any class B-1, B-2 and C common stock and participating securities on an as-converted basis as shown in the table below and the incremental common stock equivalents related to employee stock plans, as calculated under the treasury stock method. For the three and six months ended March 31, 2026 and 2025, the common stock equivalents were not material for each period.
Schedule of Weighted Average Number of Shares as Converted
The following table presents the weighted-average number of as-converted class A common stock outstanding:
Three Months Ended
March 31,		Six Months Ended
March 31,
2026202520262025
(in millions)
Class B-1 common stock7 8 8 8 
Class B-2 common stock
182 186 182 186 
Class C common stock36 37 36 37 
Participating securities16 20 16 21 
v3.26.1
Share-based Compensation (Tables)
 6 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following table presents the equity awards granted to employees and non-employee directors under the amended and restated 2007 Equity Incentive Compensation Plan (EIP) for the six months ended March 31, 2026:
GrantedWeighted-Average Grant Date Fair ValueWeighted-Average Exercise Price
Non-qualified stock options714,321 $76.23 $324.13 
Restricted stock units2,539,719 $324.55 
Performance shares(1)
381,324 $344.15 
(1)Represents the maximum number of performance shares which could be earned.
v3.26.1
Legal Matters (Tables)
 6 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Accrued Litigation for Both Covered and Non-Covered Litigation
The following table summarizes the activity related to accrued litigation:
 Six Months Ended
March 31,
 20262025
 (in millions)
Balance as of beginning of period
$3,033 $1,727 
Provision for uncovered legal matters143 25 
Provision for covered legal matters915 1,034 
Payments for legal matters(3,110)(710)
Balance as of end of period
$981 $2,076 
The following table summarizes the accrual activity related to U.S. covered litigation:
 Six Months Ended
March 31,
 20262025
 (in millions)
Balance as of beginning of period
$2,698 $1,537 
Provision for interchange multidistrict litigation894 1,019 
Payments for U.S. covered litigation(2,977)(580)
Balance as of end of period
$615 $1,976 
The following table summarizes the accrual activity related to VE territory covered litigation:
 Six Months Ended
March 31,
 20262025
(in millions)
Balance as of beginning of period
$9 $72 
Provision for VE territory covered litigation21 15 
Payments for VE territory covered litigation(9)(24)
Balance as of end of period
$21 $63 
v3.26.1
Summary of Significant Accounting Policies (Details)
Mar. 31, 2026
country
Accounting Policies [Abstract]  
Number of countries in which Visa operates (more than) 200
v3.26.1
Acquisitions - Additional information (Details) - Prisma And Newpay
$ in Billions
Feb. 27, 2026
USD ($)
Business Combination [Line Items]  
Business acquisition, acquired (in percent) 100.00%
Total consideration $ 1.5
v3.26.1
Acquisitions - Schedule of Purchase Price Allocation (Details) - USD ($)
$ in Millions
Feb. 27, 2026
Mar. 31, 2026
Sep. 30, 2025
Business Combination [Line Items]      
Goodwill   $ 20,891 $ 19,879
Prisma And Newpay      
Business Combination [Line Items]      
Deferred tax liabilities $ (202)    
Other net assets acquired (liabilities assumed) 57    
Goodwill 1,065    
Total $ 1,509    
Weighted-Average Useful Life of Intangibles (in years) 5 years    
Prisma And Newpay | Technology      
Business Combination [Line Items]      
Finite-lived intangibles $ 184    
Weighted-Average Useful Life of Intangibles (in years) 3 years    
Prisma And Newpay | Customer relationships      
Business Combination [Line Items]      
Finite-lived intangibles $ 405    
Weighted-Average Useful Life of Intangibles (in years) 6 years    
v3.26.1
Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]        
Net revenue $ 11,230 $ 9,594 $ 22,131 $ 19,104
U.S.        
Disaggregation of Revenue [Line Items]        
Net revenue 4,319 3,811 8,482 7,549
International        
Disaggregation of Revenue [Line Items]        
Net revenue 6,911 5,783 13,649 11,555
Service revenue        
Disaggregation of Revenue [Line Items]        
Net revenue 4,981 4,399 9,741 8,607
Data processing revenue        
Disaggregation of Revenue [Line Items]        
Net revenue 5,543 4,701 11,087 9,446
International transaction revenue        
Disaggregation of Revenue [Line Items]        
Net revenue 3,631 3,291 7,283 6,733
Other revenue        
Disaggregation of Revenue [Line Items]        
Net revenue 1,320 937 2,534 1,849
Client incentives        
Disaggregation of Revenue [Line Items]        
Net revenue $ (4,245) $ (3,734) $ (8,514) $ (7,531)
v3.26.1
Revenue - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Sep. 30, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]          
Net revenue $ 11,230 $ 9,594 $ 22,131 $ 19,104  
Deferred revenue 1,900   1,900   $ 1,700
Value-Added Services          
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]          
Net revenue 3,300 $ 2,600 6,500 $ 5,000  
Revenue, remaining performance obligation, amount $ 5,500   $ 5,500    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01          
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]          
Revenue, remaining performance obligation (in percent) 50.00%   50.00%    
Revenue, remaining performance obligation, expected timing of satisfaction, period (in years) 2 years   2 years    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-04-01          
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]          
Revenue, remaining performance obligation (in percent) 50.00%   50.00%    
Revenue, remaining performance obligation, expected timing of satisfaction, period (in years)      
v3.26.1
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Restricted Cash and Cash Equivalent Item [Line Items]        
Cash and cash equivalents $ 12,404 $ 17,164    
Cash, cash equivalents, restricted cash and restricted cash equivalents 18,706 24,987 $ 19,136 $ 19,763
U.S. litigation escrow        
Restricted Cash and Cash Equivalent Item [Line Items]        
Restricted cash and restricted cash equivalents: 665 2,990    
Customer collateral        
Restricted Cash and Cash Equivalent Item [Line Items]        
Restricted cash and restricted cash equivalents: 4,292 3,625    
Prepaid expenses and other current assets        
Restricted Cash and Cash Equivalent Item [Line Items]        
Restricted cash and restricted cash equivalents: $ 1,345 $ 1,208    
v3.26.1
U.S. and Europe Retrospective Responsibility Plans - Schedule of Changes in the U.S. Litigation Escrow Account (Details) - USD ($)
$ in Millions
 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Escrow Account [Roll Forward]    
Balance as of beginning of period $ 2,990 $ 3,089
Deposits into the U.S. litigation escrow account 625 375
Balance as of end of period 665 2,926
Interest Income | Opt-out Merchants    
Escrow Account [Roll Forward]    
Payments to opt-out merchants, net of interest earned on escrow funds $ (2,950) $ (538)
v3.26.1
U.S. and Europe Retrospective Responsibility Plans - Additional Information (Details)
€ in Millions
 6 Months Ended
Mar. 31, 2026
EUR (€)
Retrospective Responsibility Plans [Abstract]  
VE covered loss, maximum amount of loss to allow adjustment of conversion rate during six-month period € 20
v3.26.1
U.S. and Europe Retrospective Responsibility Plans - Schedule of Changes in Preferred Stock and Right to Recover for Covered Losses (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Balance as of beginning of period $ 38,777 $ 38,296 $ 37,909 $ 39,137
VE territory covered losses (25) 3 (28) (24)
Recovery through conversion rate adjustments     (1) 0
Balance as of end of period 35,661 38,030 35,661 38,030
Preferred Stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Balance as of beginning of period 551 904 745 [1] 1,031 [2]
Recovery through conversion rate adjustments     (109) (8)
Balance as of end of period 528 [1] 880 [2] 528 [1] 880 [2]
Right to Recover for Covered Losses        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Balance as of beginning of period (19) (123) (124) (104)
VE territory covered losses (25) 3 (28) (24)
Recovery through conversion rate adjustments     108 8
Balance as of end of period (44) (120) (44) (120)
Series B preferred stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Recovery through conversion rate adjustments     60 5
Series B preferred stock | Preferred Stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Balance as of beginning of period     67 104
VE territory covered losses     0 0
Recovery through conversion rate adjustments     (60) (5)
Balance as of end of period 7 99 7 99
Series C preferred stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Recovery through conversion rate adjustments     49 3
Series C preferred stock | Preferred Stock        
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Balance as of beginning of period     165 387
VE territory covered losses     0 0
Recovery through conversion rate adjustments     (49) (3)
Balance as of end of period $ 116 $ 384 $ 116 $ 384
[1] As of March 31, 2026 and September 30, 2025, the book value of series A convertible participating preferred stock (series A preferred stock) was $405 million and $513 million, respectively. See Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B convertible participating preferred stock (series B preferred stock) and series C convertible participating preferred stock (series C preferred stock).
[2] As of March 31, 2025 and September 30, 2024, the book value of series A preferred stock was $397 million and $540 million, respectively. See Note 5—U.S. and Europe Retrospective Responsibility Plans for the book value of series B and series C preferred stock.
v3.26.1
U.S. and Europe Retrospective Responsibility Plans - Schedule of Preferred Stock As-Converted Value and Book Value (Details)
$ / shares in Units, shares in Millions, $ in Millions
Mar. 31, 2026
USD ($)
$ / shares
shares
Sep. 30, 2025
USD ($)
$ / shares
shares
Restricted Cash and Cash Equivalent Item [Line Items]    
As-converted Value of Preferred Stock $ 1,131 $ 1,389
Book value of preferred stock 528 745
Book Value of Preferred Stock, Total 123 232
Less: right to recover for covered losses (44) (124)
As-converted Value of Preferred Stock, Total recovery for covered losses available 1,087 1,265
Book Value of Preferred of Stock, Total recovery for covered losses available $ 79 $ 108
Preferred stock, shares outstanding (in shares) | shares 5 5
Share price (in dollars per share) | $ / shares $ 302.24 $ 341.38
Series B preferred stock    
Restricted Cash and Cash Equivalent Item [Line Items]    
As-converted Value of Preferred Stock $ 447 $ 566
Book value of preferred stock $ 7 $ 67
Preferred stock, shares outstanding (in shares) | shares 2 2
Preferred stock, conversion rate (in percent) 0.5960 0.6690
Series C preferred stock    
Restricted Cash and Cash Equivalent Item [Line Items]    
As-converted Value of Preferred Stock $ 684 $ 823
Book value of preferred stock $ 116 $ 165
Preferred stock, shares outstanding (in shares) | shares 3 3
Preferred stock, conversion rate (in percent) 0.7170 0.7640
v3.26.1
Fair Value Measurements and Investments - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Sep. 30, 2025
Assets    
Investment securities $ 1,393 $ 2,421
Level 1 | Fair Value, Measurements, Recurring    
Assets    
Total 9,875 16,315
Liabilities    
Total 266 268
Level 1 | Fair Value, Measurements, Recurring | Deferred compensation liability    
Liabilities    
Deferred compensation liability 266 268
Level 1 | Fair Value, Measurements, Recurring | Derivative instruments    
Liabilities    
Derivative instruments 0 0
Level 1 | Money market funds | Fair Value, Measurements, Recurring    
Assets    
Cash equivalents and restricted cash equivalents: 8,154 13,760
Other current and non-current assets: 33 28
Level 1 | Marketable equity securities | Fair Value, Measurements, Recurring    
Assets    
Marketable equity securities 424 411
Level 1 | U.S. government-sponsored debt securities | Fair Value, Measurements, Recurring    
Assets    
Investment securities 0 0
Level 1 | U.S. Treasury securities | Fair Value, Measurements, Recurring    
Assets    
Investment securities 1,264 2,116
Level 1 | Derivative instruments | Fair Value, Measurements, Recurring    
Assets    
Other current and non-current assets: 0 0
Level 2 | Fair Value, Measurements, Recurring    
Assets    
Total 288 367
Liabilities    
Total 234 319
Level 2 | Fair Value, Measurements, Recurring | Deferred compensation liability    
Liabilities    
Deferred compensation liability 0 0
Level 2 | Fair Value, Measurements, Recurring | Derivative instruments    
Liabilities    
Derivative instruments 234 319
Level 2 | Money market funds | Fair Value, Measurements, Recurring    
Assets    
Cash equivalents and restricted cash equivalents: 0 0
Other current and non-current assets: 0 0
Level 2 | Marketable equity securities | Fair Value, Measurements, Recurring    
Assets    
Marketable equity securities 0 0
Level 2 | U.S. government-sponsored debt securities | Fair Value, Measurements, Recurring    
Assets    
Investment securities 129 305
Level 2 | U.S. Treasury securities | Fair Value, Measurements, Recurring    
Assets    
Investment securities 0 0
Level 2 | Derivative instruments | Fair Value, Measurements, Recurring    
Assets    
Other current and non-current assets: $ 159 $ 62
v3.26.1
Fair Value Measurements and Investments - Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Debt Securities (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Sep. 30, 2025
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost $ 1,386 $ 2,405
Gross Unrealized Gains 7 16
Gross Unrealized Losses 0 0
Fair Value 1,393 2,421
U.S. government-sponsored debt securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 129 304
Gross Unrealized Gains 0 1
Gross Unrealized Losses 0 0
Fair Value 129 305
U.S. Treasury securities    
Debt Securities, Available-for-Sale [Line Items]    
Amortized Cost 1,257 2,101
Gross Unrealized Gains 7 15
Gross Unrealized Losses 0 0
Fair Value $ 1,264 $ 2,116
v3.26.1
Fair Value Measurements and Investments - Schedule of Debt Securities Classified by Contractual Maturity Date (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Sep. 30, 2025
Fair Value Disclosures [Abstract]    
Due within one year $ 1,243  
Due after one year through five years 150  
Total $ 1,393 $ 2,421
v3.26.1
Fair Value Measurements and Investments - Schedule of Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Sep. 30, 2025
Fair Value Disclosures [Abstract]          
Initial cost basis $ 712   $ 712   $ 711
Adjustments:          
Upward adjustments 574   574   564
Downward adjustments, including impairment (219)   (219)   (219)
Carrying amount 1,067   1,067   $ 1,056
Upward adjustments 7 $ 7 10 $ 7  
Downward adjustments, including impairment $ 0 $ (31) $ 0 $ (49)  
v3.26.1
Fair Value Measurements and Investments - Additional Information (Details) - USD ($)
Feb. 01, 2026
Mar. 31, 2026
Sep. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Impairment of indefinite-lived intangible assets and goodwill $ 0    
Senior Notes      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Carrying value of debt   $ 24,000,000,000.0 $ 25,200,000,000
Estimated Fair Value | Senior Notes      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Estimated fair value of debt   $ 21,800,000,000 $ 23,300,000,000
v3.26.1
Leases (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Lessee, Lease, Description [Line Items]  
Lessee, operating lease, lease not yet commenced, amount $ 560
Minimum  
Lessee, Lease, Description [Line Items]  
Lessee, operating lease, term of contract (in years) 9 years
Maximum  
Lessee, Lease, Description [Line Items]  
Lessee, operating lease, term of contract (in years) 14 years
v3.26.1
Debt - Schedule of Debt (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Sep. 30, 2025
Debt Instrument [Line Items]    
Unamortized discounts and debt issuance costs $ (172) $ (171)
Hedge accounting fair value adjustments (113) (50)
Total carrying value of debt 23,976 25,171
Current maturities of debt 1,559 5,569
Long-term debt 22,417 19,602
Senior Notes    
Debt Instrument [Line Items]    
Senior notes $ 24,261 25,392
Senior Notes | 3.15% Senior Notes due December 2025 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.15%  
Senior notes $ 0 4,000
Effective interest rate (percent) 3.26%  
Senior Notes | 1.90% Senior Notes due April 2027 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 1.90%  
Senior notes $ 1,500 1,500
Effective interest rate (percent) 2.02%  
Senior Notes | 0.75% Senior Notes due August 2027 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 0.75%  
Senior notes $ 500 500
Effective interest rate (percent) 0.84%  
Senior Notes | 2.75% Senior Notes due September 2027 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.75%  
Senior notes $ 750 750
Effective interest rate (percent) 2.91%  
Senior Notes | 3.80% Senior Notes due February 2029 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.80%  
Senior notes $ 900 0
Effective interest rate (percent) 3.99%  
Senior Notes | 2.05% Senior Notes due April 2030 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.05%  
Senior notes $ 1,500 1,500
Effective interest rate (percent) 2.13%  
Senior Notes | 4.10% Senior Notes due February 2031 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 4.10%  
Senior notes $ 750 0
Effective interest rate (percent) 4.23%  
Senior Notes | 1.10% Senior Notes due February 2031 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 1.10%  
Senior notes $ 1,000 1,000
Effective interest rate (percent) 1.20%  
Senior Notes | 4.40% Senior Notes due February 2033 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 4.40%  
Senior notes $ 700 0
Effective interest rate (percent) 4.54%  
Senior Notes | 4.15% Senior Notes due December 2035 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 4.15%  
Senior notes $ 1,500 1,500
Effective interest rate (percent) 4.23%  
Senior Notes | 4.70% Senior Notes due February 2036 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 4.70%  
Senior notes $ 650 0
Effective interest rate (percent) 4.79%  
Senior Notes | 2.70% Senior Notes due April 2040 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.70%  
Senior notes $ 1,000 1,000
Effective interest rate (percent) 2.80%  
Senior Notes | 4.30% Senior Notes due December 2045 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 4.30%  
Senior notes $ 3,500 3,500
Effective interest rate (percent) 4.37%  
Senior Notes | 3.65% Senior Notes due September 2047 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.65%  
Senior notes $ 750 750
Effective interest rate (percent) 3.73%  
Senior Notes | 2.00% Senior Notes due August 2050 | U.S.    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.00%  
Senior notes $ 1,750 1,750
Effective interest rate (percent) 2.09%  
Senior Notes | 1.50% Senior Notes due June 2026 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 1.50%  
Senior notes $ 1,560 1,587
Effective interest rate (percent) 1.71%  
Senior Notes | 2.25% Senior Notes due May 2028 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.25%  
Senior notes $ 1,444 1,470
Effective interest rate (percent) 2.57%  
Senior Notes | 2.00% Senior Notes due June 2029 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.00%  
Senior notes $ 1,156 1,176
Effective interest rate (percent) 2.13%  
Senior Notes | 3.125% Senior Notes due May 2033 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.125%  
Senior notes $ 1,156 1,176
Effective interest rate (percent) 3.20%  
Senior Notes | 2.375% Senior Notes due June 2034 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 2.375%  
Senior notes $ 751 764
Effective interest rate (percent) 2.53%  
Senior Notes | 3.50% Senior Notes due May 2037 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.50%  
Senior notes $ 751 764
Effective interest rate (percent) 3.62%  
Senior Notes | 3.875% Senior Notes due May 2044 | Europe    
Debt Instrument [Line Items]    
Stated interest rate (percent) 3.875%  
Senior notes $ 693 $ 705
Effective interest rate (percent) 4.02%  
v3.26.1
Debt - Additional Information (Details) - USD ($)
 1 Months Ended 6 Months Ended
Feb. 27, 2026
Apr. 30, 2026
Mar. 31, 2026
Mar. 31, 2025
Commercial Paper        
Debt Instrument [Line Items]        
Debt instrument term (in years)     397 days  
Debt instrument, maximum borrowing capacity     $ 3,000,000,000.0  
Commercial paper, amount outstanding     0 $ 0
Commercial Paper | Subsequent Event        
Debt Instrument [Line Items]        
Proceeds from (repayments of) commercial paper   $ 500,000,000    
Senior Notes        
Debt Instrument [Line Items]        
Aggregate principal amount $ 3,000,000,000.0      
Proceeds from senior debt $ 3,000,000,000.0      
Senior Notes | December 2025 Notes        
Debt Instrument [Line Items]        
Repayments of senior debt     $ 4,000,000,000.0  
Senior Notes | Minimum        
Debt Instrument [Line Items]        
Debt instrument term (in years) 3 years      
Stated interest rate (percent) 3.80%      
Senior Notes | Maximum        
Debt Instrument [Line Items]        
Debt instrument term (in years) 10 years      
Stated interest rate (percent) 4.70%      
v3.26.1
Settlement Guarantee Management (Details) - USD ($)
$ in Billions
 6 Months Ended
Mar. 31, 2026
Sep. 30, 2025
Settlement Guarantee Management [Abstract]    
Maximum settlement exposure $ 168.6  
Average daily settlement exposure 98.1  
Total collateral $ 9.5 $ 8.8
v3.26.1
Segment Information (Details)
 6 Months Ended
Mar. 31, 2026
segment
Segment Reporting [Abstract]  
Number of Reportable Segments 1
v3.26.1
Stockholders' Equity - Schedule of Stock by Class (Details)
shares in Millions
Mar. 31, 2026
shares
Sep. 30, 2025
shares
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 5 5
As-converted Class A Common Stock (in shares) 1,894 1,930
Series A preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 0 0
Preferred stock, conversion rate into Class A Common Stock 100.0000 100.0000
As-converted Class A Common Stock (in shares) 7 8
Series B preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 2 2
Preferred stock, conversion rate into Class A Common Stock 0.5960 0.6690
As-converted Class A Common Stock (in shares) 1 2
Series C preferred stock    
Schedule of Common Stock as Converted [Line Items]    
Preferred stock, shares outstanding (in shares) 3 3
Preferred stock, conversion rate into Class A Common Stock 0.7170 0.7640
As-converted Class A Common Stock (in shares) 2 2
Class A common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 1,660 1,691
Common stock, conversion rate into Class A Common Stock 0 0
As-converted Class A Common Stock (in shares) 1,660 1,691
Class B-1 common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 5 5
Common stock, conversion rate into Class A Common Stock 1.5475 1.5549
As-converted Class A Common Stock (in shares) 7 8
Class B-2 common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 120 120
Common stock, conversion rate into Class A Common Stock 1.5075 1.5223
As-converted Class A Common Stock (in shares) 181 183
Class C common stock    
Schedule of Common Stock as Converted [Line Items]    
Common stock, shares outstanding (in shares) 9 9
Common stock, conversion rate into Class A Common Stock 4.0000 4.0000
As-converted Class A Common Stock (in shares) 36 36
v3.26.1
Stockholders' Equity - Schedule of Effect of VE Territory Covered Losses Recovery on the Company Repurchasing its Common Stock (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Conversion of Stock [Line Items]    
Reduction in equivalent number of class A common stock (in shares) 2 1
Effective price per share (in dollars per share) $ 345.17 $ 346.79
Deposits into the U.S. litigation escrow account $ 625 $ 375
Recovery through conversion rate adjustments $ (1) $ 0
Series B preferred stock    
Conversion of Stock [Line Items]    
Reduction in equivalent number of class A common stock (in shares) 0 0
Effective price per share (in dollars per share) $ 330.96 $ 312.39
Recovery through conversion rate adjustments $ 60 $ 5
Series C preferred stock    
Conversion of Stock [Line Items]    
Reduction in equivalent number of class A common stock (in shares) 0 0
Effective price per share (in dollars per share) $ 330.96 $ 312.39
Recovery through conversion rate adjustments $ 49 $ 3
v3.26.1
Stockholders' Equity - Schedule of Share Repurchase Program Disclosure (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Equity, Class of Treasury Stock [Line Items]        
Total cost $ 7,894 $ 4,473 $ 11,659 $ 8,413
Class A common stock        
Equity, Class of Treasury Stock [Line Items]        
Shares repurchased in the open market (in shares) 25 13 36 26
Average repurchase cost per share (in dollars per share) $ 320.66 $ 340.26 $ 327.29 $ 320.47
Total cost $ 7,894 $ 4,473 $ 11,659 $ 8,413
Unsettled repurchases $ 125 $ 61 $ 125 $ 61
v3.26.1
Stockholders' Equity - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Apr. 30, 2026
Apr. 28, 2026
Apr. 30, 2025
Equity, Class of Treasury Stock [Line Items]              
Share repurchase program             $ 30,000
Share repurchase programs authorized $ 13,200   $ 13,200        
Dividends paid $ 1,286 $ 1,164 $ 2,600 $ 2,300      
Subsequent Event              
Equity, Class of Treasury Stock [Line Items]              
Share repurchase program         $ 20,000    
Quarterly cash dividend (in dollars per share)           $ 0.67  
v3.26.1
Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Income Allocation - Basic $ 6,021 $ 4,577 $ 11,874 $ 9,696
Class A common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Income Allocation - Basic $ 5,265 $ 3,996 $ 10,382 $ 8,463
Weighted- Average Shares Outstanding - Basic (in shares) 1,674 1,721 1,681 1,725
Earnings per Share - Basic (in dollars per share) $ 3.15 $ 2.32 $ 6.18 $ 4.90
Income Allocation - Diluted $ 6,021 $ 4,577 $ 11,874 $ 9,696
Weighted- Average Shares Outstanding - Diluted (in shares) 1,916 1,974 1,924 1,979
Earnings per Share - Diluted (in dollars per share) $ 3.14 $ 2.32 $ 6.17 $ 4.90
Class B-1 common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Income Allocation - Basic $ 24 $ 18 $ 46 $ 37
Weighted- Average Shares Outstanding - Basic (in shares) 5 5 5 5
Earnings per Share - Basic (in dollars per share) $ 4.87 $ 3.63 $ 9.58 $ 7.68
Income Allocation - Diluted $ 24 $ 18 $ 46 $ 37
Weighted- Average Shares Outstanding - Diluted (in shares) 5 5 5 5
Earnings per Share - Diluted (in dollars per share) $ 4.87 $ 3.63 $ 9.57 $ 7.67
Class B-2 common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Income Allocation - Basic $ 571 $ 431 $ 1,126 $ 911
Weighted- Average Shares Outstanding - Basic (in shares) 120 120 120 120
Earnings per Share - Basic (in dollars per share) $ 4.75 $ 3.58 $ 9.36 $ 7.57
Income Allocation - Diluted $ 571 $ 430 $ 1,125 $ 909
Weighted- Average Shares Outstanding - Diluted (in shares) 120 120 120 120
Earnings per Share - Diluted (in dollars per share) $ 4.74 $ 3.58 $ 9.35 $ 7.56
Class C common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Income Allocation - Basic $ 112 $ 85 $ 220 $ 183
Weighted- Average Shares Outstanding - Basic (in shares) 9 9 9 9
Earnings per Share - Basic (in dollars per share) $ 12.58 $ 9.29 $ 24.71 $ 19.62
Income Allocation - Diluted $ 112 $ 85 $ 220 $ 183
Weighted- Average Shares Outstanding - Diluted (in shares) 9 9 9 9
Earnings per Share - Diluted (in dollars per share) $ 12.57 $ 9.27 $ 24.68 $ 19.59
Participating securities        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Income Allocation - Basic $ 49 $ 47 $ 100 $ 102
Income Allocation - Diluted $ 49 $ 47 $ 100 $ 102
v3.26.1
Earnings Per Share - Schedule of Weighted Average Number of Shares (Details) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Class B-1 common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Weighted-average as-converted common stock used in income allocation (in shares) 7 8 8 8
Class B-2 common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Weighted-average as-converted common stock used in income allocation (in shares) 182 186 182 186
Class C common stock        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Weighted-average as-converted common stock used in income allocation (in shares) 36 37 36 37
Participating securities        
Schedule of Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]        
Weighted-average as-converted common stock used in income allocation (in shares) 16 20 16 21
v3.26.1
Share-based Compensation - Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details)
 6 Months Ended
Mar. 31, 2026
$ / shares
shares
Non-qualified stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 714,321
Weighted-Average Grant Date Fair Value (in dollars per share) $ 76.23
Weighted-Average Exercise Price (in dollars per share) $ 324.13
Restricted stock units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 2,539,719
Weighted-Average Grant Date Fair Value (in dollars per share) $ 324.55
Performance-based shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in shares) | shares 381,324
Weighted-Average Grant Date Fair Value (in dollars per share) $ 344.15
v3.26.1
Share-based Compensation - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
2007 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense $ 264 $ 250 $ 485 $ 465
v3.26.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Income Tax Disclosure [Abstract]        
Effective income tax rate reconciliation, percent (in percent) 16.00% 16.00% 15.00% 17.00%
Recognized tax expense (benefit) $ (217) $ (222) $ (217) $ (222)
Net tax benefit     333  
Tax expense related to resolution of tax matter   $ 71   $ 71
Unrecognized tax benefits, period increase (decrease), gross 24   37  
Unrecognized tax benefits, period increase (decrease), net $ 22   $ 33  
v3.26.1
Legal Matters - Schedule of Accrued Litigation for Both Covered and Non-Covered Litigation (Details) - USD ($)
$ in Millions
 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period $ 3,033 $ 1,727
Balance at end of period 981 2,076
Uncovered Litigation    
Loss Contingency Accrual [Roll Forward]    
Provision for legal matters 143 25
Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Provision for legal matters 915 1,034
Payments for legal matters (3,110) (710)
U.S. Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period 2,698 1,537
Provision for legal matters 894 1,019
Payments for legal matters (2,977) (580)
Balance at end of period 615 1,976
VE Territory Covered Litigation    
Loss Contingency Accrual [Roll Forward]    
Balance at beginning of period 9 72
Provision for legal matters 21 15
Payments for legal matters (9) (24)
Balance at end of period $ 21 $ 63
v3.26.1
Legal Matters - Additional Information (Details) - USD ($)
$ in Millions
 6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Loss Contingencies [Line Items]    
Deposits into the U.S. litigation escrow account $ 625 $ 375
Interchange Multidistrict Litigation    
Loss Contingencies [Line Items]    
Settlement percentage (in percent) 94.00%  
U.S. Covered Litigation    
Loss Contingencies [Line Items]    
Provision for legal matters $ 894 $ 1,019