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SAN FRANCISCO - Visa (NYSE:V), a dominant player in the financial services industry with a market capitalization of approximately $658 billion, announced Wednesday it has expanded its fleet payment capabilities to include Google Pay tokenization and push-to-wallet functionality, addressing limitations in how fleet data tags function with digital payments. According to InvestingPro data, Visa maintains impressive profitability with a gross margin of nearly 98%.
The new capability allows fleet data tags—previously tied only to physical card chips—to be configured by issuers, fintechs or processors and dynamically provisioned during tokenization. This enables fleet-specific data to be transmitted seamlessly to point-of-sale terminals when making contactless payments.
With the addition of Google Pay support following earlier Apple Pay integration, Visa’s fleet tokenization is now compatible with approximately 92% of smartphones globally, based on market share and NFC capability.
The enhancement aims to improve the payment experience in the fleet sector, which represents a $1.4 trillion spending opportunity globally on vehicle-related expenses by corporations, businesses and public sector entities, according to research commissioned by Visa. With annual revenue of $37.6 billion and strong market presence, Visa is well-positioned to capitalize on this opportunity. For deeper insights into Visa’s growth potential and financial health metrics, InvestingPro subscribers can access comprehensive analysis and over 10 additional ProTips.
"This innovation solves a clear pain point within fleet today and unlocks a host of client benefits, including instant issuance, a more seamless user experience for drivers and robust controls for Fleet Managers," said Parker Patton, Head of Global Fleet & Mobility Solutions at Visa.
The digital solution reduces provisioning time from 7-14 days with physical cards to hours for digital wallet integration. Highnote, a card issuing platform, was named as one of Visa’s initial pilot partners for the technology.
The announcement was made in a press release statement from Visa Inc. The company’s robust financial performance and market leadership position it well for continued growth in the digital payments space. Discover more about Visa’s valuation and growth prospects in the detailed Pro Research Report, available exclusively on InvestingPro, along with analysis of 1,400+ other top US stocks.
In other recent news, Visa Inc. reported its fiscal third-quarter results for 2025, which exceeded analyst expectations. The company announced an earnings per share (EPS) of $2.98, surpassing the forecasted $2.84. Additionally, Visa’s revenue reached $10.2 billion, exceeding the anticipated $9.84 billion. These strong financial results highlight Visa’s robust performance during the quarter. Despite a slight decline in stock price during regular trading hours, the company experienced a minor uptick in after-hours trading. This reflects investor confidence in Visa’s ability to deliver strong financial outcomes. The positive results come amid a competitive landscape, showcasing Visa’s resilience and market position.
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