Alice Tecotzky

Visa is winning the AI race in payments, but the question is whether it will pay off

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Visa is winning the AI race in the payments industry, according to a brand new ranking — but no company is revealing quite how much the technology is paying off.

A brand-new index from Evident, a company that tracks AI in finance, lists Visa as no. 1 among 12 global payments companies. Mastercard and PayPal follow in second and third place. Fintech giants like Stripe and Block rank fifth and sixth on the index, demonstrating how quickly newer players have built serious AI firepower.

“With relatively nascent industry players like Stripe and Block performing well — and showing their AI potential reflected in their valuations — the Index leaders cannot afford to drop off the pace,” Alexandra Mousavizadeh, co-founder and co-CEO, said in a press release.

Payment companies — which move money around between banks, businesses, and consumers — run on technology. Evident’s new industry ranking, released Wednesday exclusively to Business Insider, reveals how the companies we interact with every day are using AI, from deciding whether a transaction goes through to detecting fraud.

Whether ranked No. 1 or dead last, all of the companies have at least one thing in common: none have published their achieved or projected ROI across all their AI efforts. By comparison, 10 of the 50 banks that Evident tracks already share those figures.

“The absence of ROI disclosure — or any group targets for AI ROI — is increasingly conspicuous,” Annabel Ayles, co-founder and co-CEO of Evident, said. To justify their expenses, the market will “sooner or later demand clearer evidence of value.”

Together, the dozen companies documented almost 100 AI use cases over the past two years, but the top three punch above their weight — they were responsible for more than half of the use cases recorded in the index. Visa and Mastercard are particularly advanced in using AI for fraud detection and cybersecurity.

Visa, in its 2025 annual report, acknowledged AI competition, noting that some competitors will beef up their products and others will offer employees AI tools.

“If we do not continue to invest in developing and supporting our AI-based initiatives, we may fall behind technological developments,” the report said.

Visa has invested more than $3.5 billion in AI and data over the past decade and employs more than 2,500 technologists working on innovations, including over 300 AI models in production, chief data officer Andres Vives told Business Insider in a statement.

Top firms staffing up aggressively

The index doesn’t focus on specific use cases; instead, it evaluates companies on four criteria: talent, innovation, leadership, and transparency.

Talent has the biggest impact on each company’s ranking, and the report found that the payments industry overall is investing heavily in AI and data hiring. Compared to other financial institutions, the index found that they have 30% more AI-focused workers, even though they generally have smaller workforces. Among the 12 ranked companies and their more than 335,000 employees, an average 6.5% are focused on AI, Mousavizadeh told Business Insider. That 6.5% figure, she added, is the highest concentration of AI talent Evident has found across the sectors it tracks.

PayPal alone accounts for 18% of the AI talent among the indexed companies and employs more than 4,000 AI workers. Stripe and Block also stand out for their density of AI employees, who make up more than 10% of their total workforce.

Payments companies aren’t alone, of course, in focusing on AI talent — technologists specializing in AI are among the most in-demand jobs in the broader financial sector.

The gap in ROI transparency

Leaders at bulge-bracket banks are already facing questions about when they will see AI investments pay off—analysts, for example, pressed JPMorgan leaders on the merits of the bank’s massive technology spending during a recent earnings call. Jamie Dimon, the bank’s CEO, acknowledged tech competition from fintechs on that call, and again from payments companies during the investor conference in February, name-dropping Stripe and PayPal.

For now, AI’s benefits at payments companies are often baked into existing performance measures, such as lower transaction costs, according to the index.

But there are still demands to stay competitive. Evident found that agentic capabilities will likely play a bigger role as companies move from using AI for “defensive necessity to strategic advantage.” (Both PayPal and Mastercard teased AI agents in recent earnings calls, and Visa mentioned the potential of agentic commerce during its fourth-quarter earnings call.)

Overall, Evident found that the payments companies that moved fastest on AI are furthest along in their journeys, and the next competitive milestone may be in financial transparency: the first one to publish comprehensive ROI measures will become another type of “first-mover.”

Here’s the full ranking:




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Peter Kafka

Streaming big events like an NFL game used to be question mark. Amazon just got more than 31 million people to stream the Bears-Packers.

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On Saturday, the Chicago Bears beat the Green Bay Packers in an NFL playoff game that had everything: a bitter rivalry, an old-school outdoors atmosphere, and a historic comeback (or choke-job, depending on your POV).

It also happened to be a (mostly) streaming-only game. Did you notice? Or care?

I didn’t. Except for about 30 seconds, when I was trying to find out what network was showing the game, and it took me a beat to realize it was on Amazon’s Prime Video. Then I booted up my app and watched the game without any issue. Just like any other NFL game.

In 2026, “Guy doesn’t have a problem watching the Bears/Packers” is a true dog-bites-man story. But that’s why I’m writing about it here: Not very long ago, the idea of streaming a super-high-profile NFL game — and requiring NFL fans to subscribe to a streaming service in order to watch it — would have been a very big deal.

Now it’s a yawner: I was one of 31.6 million people who watched the game, the vast majority of whom streamed it (fans in local markets could use broadcast TV). That’s a streaming record for an NFL game, and it’s more than some other games got last weekend on conventional TV.

And that tells you just how far sports and streaming have come.

Flash back to 2013, for instance, and the idea of whether the “internet” — a catch-all term that included everything needed to get streaming video onto your screen, from web servers to fiber-optic lines to the router in your house — could support a big NFL game watched by many millions of people was an open question. “Why Web TV Skeptic Mark Cuban Thinks Google Can Make the NFL Work on the Web,” was an ungainly headline I tapped out at the time.

Back then, the NFL and other sports giants were routinely streaming big events like the Super Bowl and World Cup — but only as a sort of secondary outlet for weirdos who didn’t have traditional TV. And anyone who did stream sports had to expect to run into problems, like ESPN did when it streamed a World Cup game in 2014.

A year later, the NFL put on a streaming-only game for the first time — but made sure it was a relatively niche one, and made sure that people knew it was an experiment.

Cut to today, and streaming is just a way we watch some football games now. Amazon pays a gazillion dollars a year to show one game a week during the regular season; Netflix has paid up to show a couple games on Christmas Day. A new deal the NFL struck with Disney last year will give the league the opportunity to sell even more games to digital players.

And two years ago, the league passed another new threshold by moving one of its most valuable assets — a playoff game — to Comcast’s Peacock streamer, where it was only available to paid subscribers. That one generated a ton of complaints from people who said they didn’t want to pay another service to watch an NFL game — along with millions of sign-ups for Peacock, which showed they would.

The NFL is not ditching TV for streaming anytime soon. For many people, watching NFL games is the main reason to watch TV, and that gives the league a ton of leverage to extract ever-increasing fees from the likes of NBC and CBS. So they will almost certainly keep the majority of their games on old-time TV for the foreseeable future. But they’re going to sell them to streaming platforms too — because they’ll pay up to get them, and you’ll pay, too.




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Woman posing for photo in the 80s

I wanted to be perfect like my grandmother. Then she asked me a question that changed my approach to life.

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The author’s grandma was a perfectionist.

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  • My grandmother’s terminal cancer diagnosis taught us both to let go of perfectionism.
  • Her lifelong pursuit of order and perfection shaped our family’s habits and expectations.
  • Facing illness, she embraced acceptance and inspired me to value effort over unattainable ideals.

My grandmother strove for perfection, convinced that it was an attainable goal if only you worked hard enough.

This meant eating less to lose weight. Food deprivation became a family bonding activity when my grandmother was on a diet. Diets lasted decades. We had marathon cleaning weekends while friends went to the mall. Play clothes were swapped out for school clothes for our rare trips to Burger King. Random dust checks were performed to ensure vacuuming of floors was done correctly. I’ll never forget her finger with a perfectly manicured nail grazing the cool Italian tile floor. Chore lists graced our refrigerator in the same way my friends’ quizzes and pictures graced theirs.

My grandmother wanted and demanded order, believing it led to perfection. My childhood was spent trying to please. She did not expect more from us than she did from herself, though. I hold many memories of Gram chastising herself for her too-big thighs or her less-than-stellar self-control around chocolate. It was a weakness that caused her significant guilt.

I followed her steps

Years later, as I began my own journey toward motherhood, I vowed that my children would not endure what I had. I would allow them to make messes. That dog I always wanted, but was never allowed to have because pets were dirty, would complete the large family I also always wanted. Perfection would become what it was meant to be, a foolish ideal — not a reality to strive for at all costs.

Family birthday
The author’s grandmother was diagnosed with terminal cancer.

Courtesy of the author

Instead, I repeated exactly what I knew. My kids had to have matching outfits, picture-perfect Christmas cards, and all the things perfection required. I would clean and exercise until I reached the point of exhaustion. I worked out through all four pregnancies and directly after.

I recall throwing a birthday party for my son. He was turning 3 or 4. Someone commented on how great I looked. “Nicole makes sure everything is always perfect,” someone else said. I reveled in the praise. Gram heard the comment and smiled. We shared a common bond. When one of us inched closer to it, the other one felt proud.

Then my grandmother was diagnosed with cancer

The exhaustion of parenting four kids and attempting to create the perfect world for them and me was intense. I was stuck in a cycle. It would not break until one sunny fall day. I was running around attempting to clean and wrangle the kids for lunch. The plan was to work out after they took their naps. The phone rang, and my grandmother greeted me on the other end. All I heard was the word sick. I assumed it was regarding my grandfather, who had had heart problems for decades. I thought perhaps it was another heart attack.

“No, baby, it’s me. I’m sick.” It was shocking. Gram had lived a life of such order and perfection. She was in her 70s and active. She took only one pill for high blood pressure. Gram had Stage 4 ovarian cancer, which meant we discovered it late. We looked up the statistical odds of survival. My grandmother had a terminal illness.

The diagnosis changed her. For the first time, her constant need for perfection seemed foolish. Weight didn’t matter, nor did matching a purse to shoes to a blouse. When Gram lost her hair, one of her most beautiful features, and found herself struggling to keep the house clean, she understood things had to change. Maybe a wig wouldn’t be so bad. Maybe hiring someone to come in and help was OK. Her new favorite saying became, “Don’t sweat it.” What mattered was time and how she spent it.

She asked 1 simple question

When she saw me working myself to death to provide a perfect life for my family, Gram realized I had become just like her. She said, “Perfection isn’t worth it. It isn’t even real.” Then, she asked a question that changed everything for me.”Did you do your best?” When I answered that I had, she said, “Well, that’s all you can do then.”

It changed the way I lived my life and significantly reduced the pressure on me.

Watching her health diminish and understanding that she had limited time helped Gram realize what was important. Perfection and holding onto unrealistic expectations and ideals no longer fit into her life. Watching her learn this lesson allowed me to learn it alongside her. She taught me so that I didn’t have to wait until I was in my 70s battling a terminal illness. When I remember her now, I am forever grateful.

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