New York, January 14, 2026, 10:29 EST — Regular session
Visa Inc (V) shares dipped 0.3% to $326.85 in Wednesday’s morning session, following a sharper 4.5% drop the day before. Investors are digesting President Donald Trump’s plan to cap credit-card interest rates at 10%, along with JPMorgan execs flagging potential fallout across the sector. “Financials are getting hit by Trump’s credit-card proposal,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. Meanwhile, U.S. December consumer inflation rose 2.7% year-over-year, matching expectations and providing some support to broader markets on Tuesday. (Fidelity)
Visa’s position in politics is crucial given its dominance in card payments. While it doesn’t rake in interest from consumer card balances, its revenue depends on the frequency of card use and the volume of transactions processed through its network.
House Speaker Mike Johnson said Congress should “think about” Trump’s proposal but cautioned about “negative secondary effects,” like lenders pulling back or lowering borrowing limits. Johnson noted that a rate cap would need legislation, responding to Trump’s call for a one-year 10% ceiling starting Jan. 20. (Reuters)
For now, Visa’s trading feels more like a Washington headline than a reflection of payments growth. If lenders start tightening credit or cutting rewards to safeguard profits, payment volumes could drop fast, with fewer purchases and trips.
Visa unveiled a new growth angle Wednesday with a partnership alongside stablecoin infrastructure provider BVNK, aimed at boosting Visa Direct, its money-movement platform. Under the deal, select Visa Direct clients can pre-fund payouts using stablecoins — digital tokens pegged to stable assets like the U.S. dollar — and send these payouts in stablecoins in certain markets. Mark Nelsen, Visa’s global head of product for commercial and money movement solutions, highlighted that stablecoins might ease global payment friction, especially “on weekends, holidays and when banks are closed.” BVNK CEO Jesse Hemson-Struthers described stablecoins as an emerging layer of payment infrastructure. (Business Wire)
Some analysts say the market might be unfairly grouping Visa with lenders who actually hold the loans. Dan Dolev at Mizuho suggested a cap could push more spending toward debit cards and “buy now, pay later” schemes—installment plans at checkout—while still routing transactions through Visa and Mastercard networks. (Barron’s)
Wednesday saw declines among peers as well. Mastercard edged down 0.4%, American Express dipped 0.6%, and Synchrony Financial slid roughly 2.2%.
The downside is straightforward: if lawmakers push for a cap and lenders tighten credit, spending could slow, squeezing transaction growth right when the payments sector is defending its premium valuations. The longer this policy battle drags out, the more traders might drop “safe growth” stocks and shift their bets elsewhere.
Investors are waiting on specifics from the White House and Congress about how a potential cap might be structured, while also gauging if banks will pull back on card lending as earnings season progresses. Visa’s annual meeting is set for Jan. 27, according to the company’s investor site. (Visa)
