Visa has taken the top spot in the AI race across the global payments industry, according to a newly released ranking — though the true financial impact of these investments remains largely undisclosed.
The index, published by Evident, a research firm that tracks artificial intelligence adoption in financial services, evaluated 12 of the world’s largest payments companies on their AI capabilities, talent, research output, and public disclosures.
Visa ranked No. 1 overall, signaling its aggressive push to integrate AI across fraud detection, risk management, data analytics, and transaction processing.
Mastercard and PayPal secured the second and third positions, reflecting their own substantial investments in machine learning and automation. Meanwhile, fintech challengers Stripe and Block placed fifth and sixth, underscoring how quickly newer, technology-native companies have scaled advanced AI infrastructure to compete with legacy networks.
Despite the competitive momentum, none of the companies included in the ranking have provided detailed breakdowns of how much AI is directly contributing to revenue growth, cost savings, or profit margins.
While executives frequently highlight AI as a strategic priority, the measurable financial return on these investments remains opaque, leaving investors and analysts to interpret performance signals indirectly through broader earnings results and innovation disclosures.