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# Visa grew revenue 13% in the September quarter, while PayPal managed 2%
- URL: https://www.sharespective.com/stories/visa-grew-revenue-13-september-quarter-2026-10-28/
- Published: 2026-10-27T21:15:00.000Z
- Updated: 2026-10-27T21:50:46.000Z
- Description: Visa reported after Tuesday's close in New York. Net revenue rose 13% to US$12.1 billion in the three months to September, and adjusted earnings of US$3.48 a share beat forecasts of US$3.44.
- Author: Shaun Botha
- Tags: Payments, #story, #group-other, Visa, PayPal

Visa reported after Tuesday's close in New York. Net revenue rose 13% to US$12.1 billion in the three months to September, and adjusted earnings of US$3.48 a share beat forecasts of US$3.44.

**Spending across borders did a lot of the work.** Cross-border volume, payments where the card and the shop are in different countries, rose 14%. Visa earns more on those payments than on domestic ones. Overall payments volume grew 9%.

Visa also lifted its quarterly dividend 16% to US$0.78 a share and bought back US$4 billion of its own shares in the quarter. Its shares slipped 0.57% during the session and fell about 2% more in late trading.

![Chart: PayPal's revenue lead over Mastercard nearly vanished. Calendar-year revenue in US$bn, 2016 to 2025; PayPal finished on US$33.2bn and Mastercard on US$32.8bn. On Tuesday PayPal reported 2% quarterly growth, Visa 13%.](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/10/visa-grew-revenue-13-september-quarter-2026-10-28-chart.jpg)

This story’s chart of the day.

PayPal reported before the open and had a slower quarter. Revenue rose 2% to US$8.6 billion. Its shares still rose 2.00% to US$56.09 after it raised its full-year profit forecast to US$5.60 a share, from US$5.38.

Our read 

Visa runs the network that card payments cross, and PayPal competes for the checkout button that sits on top of it. One is growing six times faster than the other. Mastercard reports before Thursday's New York open, and its cross-border figure will show whether Visa's 14% is an industry number.

[ This story ran in Wings Clipped Wednesday 28 October’s edition, with the market snapshot, the other two stories, the numbers and the week ahead. Read the whole edition → ](https://www.sharespective.com/sharespective-2026-10-28/)