Visa Inc. reported its fiscal Q1 2025 earnings, highlighting a 34% year-over-year growth in Visa Direct transactions, driven by increased interoperability among peer-to-peer applications in Latin America. The company noted that its total addressable opportunity in consumer payments includes potential share gains from domestic networks. Visa also announced a partnership with X Money, which will utilize Visa Direct for secure and instant funding of its wallet using debit cards. Additionally, Visa's CFO indicated that retail holiday spending growth outpaced last year's figures, with e-commerce comprising a larger share of holiday spending. The company has issued over 12.5 billion tokens globally, with one-third of all Visa transactions now tokenized. Despite these successes, Visa acknowledged that cross-border Visa Direct transactions remain a small portion of its overall cross-border payment volume. Looking ahead, Visa sees a $200 trillion opportunity in payment flows beyond consumer-to-business transactions, including commercial cards and cross-border B2B payments.