01. Visa Inc. (NYSE:V)
Number of Hedge Fund Holders: 163
Topping our list of seven best digital currency and payments stocks to buy now is Visa Inc. (NYSE:V). Visa Inc. (NYSE:V) continues to demonstrate its dominance in the global payments industry, as evidenced by its solid Q3 2024 financial performance. Reporting earnings per share (EPS) of $2.42, which aligns with market expectations, Visa Inc. (NYSE:V) showcased its robust revenue growth, posting $8.9 billion in net revenue—a 10% year-over-year increase. This strong performance is underpinned by the company’s strategic expansion and deepening partnerships across various regions, further solidifying its position as a leader in electronic payments.
Visa Inc. (NYSE:V) global payments network continues to thrive, with a 7% year-over-year increase in overall payments volume and a 10% rise in processed transactions. Particularly noteworthy is the 14% growth in cross-border volume (excluding intra-Europe transactions), highlighting Visa’s ability to capture increased international market share. The company’s focus on innovation and customer engagement is reflected in its Global Net Promoter Score (NPS) of 76, a three-point increase from the previous year.
Strategic partnerships remain a cornerstone of Visa Inc. (NYSE:V) growth strategy. Recent agreements with major financial institutions, such as Lloyds Banking Group in the UK and KB Kookmin Card in Korea, exemplify Visa’s ability to expand its credit and debit portfolios while leveraging value-added services. Furthermore, Visa’s brand strength is evident through its successful co-brand partnerships and global initiatives, such as the upcoming Olympic Games, which have significantly increased brand visibility and customer engagement.
Visa Inc. (NYSE:V) ongoing investments in new payment flows, including Visa Inc. (NYSE:V) Direct and B2B solutions, coupled with the expansion of value-added services like tokenization and risk management, position the company for sustained growth. As digital payments continue to proliferate globally, Visa Inc. (NYSE:V) comprehensive suite of products and services ensures it remains at the forefront of the industry, making it a compelling investment opportunity.
In the second quarter of 2024, the number of hedge funds with stakes in Visa Inc. (NYSE:V) decreased to 163 from 166 in the previous quarter, according to Insider Monkey’s database. The combined value of these stakes is approximately $24.93 billion. Chris Hohn’s TCI Fund Management emerged as the largest stakeholder among these hedge funds during this period.
Aoris International Fund stated the following regarding Visa Inc. (NYSE:V) in its Q2 2024 investor letter:
“Visa Inc. (NYSE:V) operates the world’s largest payments network, which facilitates the movement of money between merchants, financial institutions, consumers, businesses, and governments.
The company is best known for enabling consumers to make debit and credit card payments. In the year to September 2023, 4.3 billion Visa cardholders made 213 billion transactions on its network, to a total value of US$12.1 trillion.
Compared to cash and cheques, which are still widely used around the world, Visa’s network is a more convenient, secure, and ubiquitous way for consumers to pay. Visa has invested to reduce friction and fraud in the payments experience, to the benefit of both merchants and consumers…” (Click here to read the full text)
VISA stands at number one on our list of seven best digital currency and payments stocks to buy now. However, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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