New York, January 21, 2026, 19:10 EST — After-hours
- Visa shares slipped roughly 0.2% in after-hours trading, holding near the previous close.
- Washington’s renewed scrutiny of credit-card economics has put payment networks back in the spotlight.
- Visa will release its fiscal first-quarter results on Jan. 29, marking the next key catalyst.
Visa Inc (NYSE: V) shares slipped 0.2% to $325.28 in after-hours trading Wednesday, as investors digested fresh political pressure on credit-card fees ahead of next week’s earnings report.
Washington’s fresh push to overhaul card payment pricing and routing has set off alarms—networks could take a hit, even if the focus is largely on banks and merchants. Goldman Sachs analysts told Finviz this week that a modest shift diverting payments from Visa’s network might slash earnings by around 3%.
The policy chatter comes just as Visa enters a quiet stretch before earnings. The company plans to release its fiscal first-quarter results on Jan. 29 after markets close and has signaled a standard “quiet period” until then. (Visa Investor Relations)
U.S. stocks bounced back Wednesday following a steep drop Tuesday, fueled by signs that trade tensions might be cooling and a steady stream of bank earnings. (Reuters)
In Davos, U.S. Treasury Secretary Scott Bessent said it was “not unreasonable” to open talks on credit-card company practices, signaling the issue is far from settled. (Reuters)
Bank executives fired back, cautioning that limiting card fees might shrink credit availability and dampen spending. JPMorgan Chase CEO Jamie Dimon labeled a proposed cap on credit-card interest rates an “economic disaster,” warning it would restrict credit access for many consumers. (Reuters)
At the moment, Visa’s stock is behaving more like a play on policy than a straightforward bet on consumer spending. Mastercard’s shares dipped around 0.8% today, roughly matching Visa’s subdued performance.
Merchants are pushing their argument in court. Lawyers representing merchants suing Visa and Mastercard over fees claim in a recent filing that the proposed settlement would allow merchants greater leeway to apply surcharges. Economists Joseph Stiglitz and Keith Leffler weighed in, likening the extra fees on premium cards to paying more for “a prime steak than for a choice steak,” according to Payments Dive. (Payments Dive)
Trouble isn’t confined to the U.S. In the UK, Visa and Mastercard face scrutiny over legal battles surrounding caps on interchange fees — the so-called “swipe fees” merchants pay on card transactions, the Financial Times reported. (Financial Times)
Still, this story could easily lose steam. The main threat to the bears is political calculus: proposals might stall, weaken, or pivot to target issuers and merchant acquirers rather than the networks running the rails. Visa’s revenue depends on payment volume and network fees, not interest income, which could soften the blow from rate caps—even if market sentiment sours.
Next week, traders will focus on two key points: clear clues about fee and routing legislation, and Visa’s update on cross-border volumes plus consumer spending when it reports on Jan. 29. That earnings release—and the webcast later that evening—will likely shift the stock more decisively than political noise.
