Why it matters

Visa Inc is aggressively working to influence legislation that could alter the payment processing landscape, particularly the Credit Card Competition Act, which would force more competition in payment network routing.

By the numbers

The credit card giant has significantly ramped up its lobbying efforts in Washington:

  • $2.27 million for in-house lobbying, 10.19% increase from the previous quarter’s $2.06 million.
  • 8 external firms engaged, costing between $30,000-$60,000 each
  • Total external firm spending approximately $400,000

The strategy

Visa maintains a robust in-house operation while strategically deploying specialized external firms:

  • PhronesisDC ($60,000) focuses exclusively on the Credit Card Competition Act
  • Avoq LLC ($60,000) handles credit card interchange, tax issues, and cybersecurity
  • North South Government Strategies ($30,000) concentrates on payments and financial services

Key personnel

Visa has added Isaac Borden Hoskins, a former Professional Staff Member of the House Financial Services Committee with jurisdiction over banking, consumer credit protection, and financial services. He offers Visa an insider perspective.

Veteran lobbyists with decades of experience include:

  • Kathleen Quint Black (active since 1999), former Tax Policy Adviser;
  • Margaret L. Simmons (active since 1999), former Legislative Counsel for Senator Chafee, and
  • Robert B. Thomson III (active since 1999), with experience representing American Express

Beyond interchange fees

While the Credit Card Competition Act remains Visa’s primary concern, their lobbying portfolio covers:

  • Digital payments and innovation;
  • Cybersecurity and data protection;
  • Stablecoin regulation (targeting S. 394, the GENIUS Act and H.R. 2392, the STABLE Act);
  • Artificial intelligence regulation;
  • International trade and market access in China, Costa Rica, Brazil, Mexico, Central Asia, and India, and
  • Taxation, including extensions of corporate tax provisions

The bottom line

Visa’s expanded lobbying footprint signals serious concern about potential regulatory changes that could impact its business model, particularly around interchange fees and payment routing. The lobbying strategy shows they’re playing both defense against immediate threats and offense on future payment innovations.