Visa Payment Passkey Goes Live at Five India State Banks: OTP Attack Surface Eliminated

Visa (NYSE: V) launched the Visa Stablecoin Platform (VSP), a toolkit for banks to mint, hold, and move stablecoins. Over 160 stablecoin-linked card programs are live, with volume up 200% year over year. Visa also introduced an on-chain lending rail for real-time settlement data. USDC (CRYPTO: USDC) will be supported later this year. Visa's stablecoin settlement volume exceeded $20 billion annualized.

Velocity, a stablecoin platform, raised $10M from Visa and others, valuing it at $200M. Visa seeks a new partner after losing BVNK to Mastercard. Velocity's tech aims to streamline corporate cross-border payments using stablecoins, reducing costs and time. Visa's investment highlights its strategic interest in stablecoin infrastructure amid a competitive landscape.

Nearly 1,000 merchants and trade associations filed an objection to a proposed settlement in a lawsuit against Visa and Mastercard over credit card swipe fees, claiming it offers inadequate relief and protects anticompetitive practices. The proposed settlement, which would reduce interchange fees by a small fraction, was criticized for its limited impact and potential harm to businesses and consumers. The lawsuit, ongoing since 2005, alleges that Visa and Mastercard violate antitrust laws by pri

Visa launched an onchain lending program, Credit Coop, to help card issuers manage settlement funding gaps. The program provides stablecoin revolving credit lines, with smart contracts automating fund flows. Visa reported $2.5B in cumulative settlement volume since 2023, with zero defaults. The program has reduced borrowing costs for participants by up to 30%, according to Visa. Payment company Rain is a major user, with $2B in cumulative payments. Karta also used Credit Coop for early growth be

AI agents are increasingly involved in commerce, with companies like FICO, Shopify, Visa, Amazon, and Affirm playing key roles. FICO's Q3 revenue grew 41%, Shopify's AI-driven orders tripled, Visa's net revenue rose 14%, Amazon's Alexa interactions jumped 5x, and Affirm's GMV surged 35%. These companies are positioned to benefit from the trust and infrastructure needed for agentic commerce, with shares showing mixed performance year-to-date.

Visa announced a partnership to combine VisaNet settlement data with blockchain lending for stablecoin-linked card programs. Lenders can use this data to assess performance and determine financing terms. Visa reported $694 billion in stablecoin loans since 2020 and a 200% year-over-year growth in payment volume across 160 programs. Credit Coop is an early adopter, with $2.5 billion in settlement volume since 2023. Visa aims to expand access to settlement data for blockchain lenders and develop a