GLOBAL RESEARCH ARCHIVE
Perlin’s Ponderings
Research evidence excerpt
Perlin’s Ponderings
RBC Capital Markets, LLC
Daniel R. Perlin, CFA (Analyst)
(410) 977-0821, daniel.perlin@rbccm.com
Matthew Inglis (AVP)
(212) 558-0412, matthew.inglis@rbccm.com
Company Ticker Rating
June 11, 2026
Affirm AFRM SP
Broadridge Financial BR OP Perlin’s Ponderings
Corpay CPAY SPRESEARCH A daily digest of commentary and news Fidelity National Info FIS OP
Quick summary: Visa Payments Forum; financial technology; consumer Fiserv FISV OP
checkpoint Flywire FLYW OP
Visa Payments Forum Shift4 Payments FOUR OP
Visa (V: rated OP) announced a suite of new AI, stablecoin and token Global Payments GPN SP
capabilities at its Payments Forum. On AI, Visa detailed its Intelligent HealthEquity HQY OP
Commerce platform, including a strategic partnership with OpenAI to Jack Henry JKHY OPEQUITY Lightspeed LSPD OP enable secure payments within agentic experiences, and an LLM trained
on billions of transactions to improve fraud detection and authorization Mastercard MA OP
performance. On stablecoins, Visa is expanding settlement pilots with PicS N.V. PICS OP
an annualized run rate of ~$7B as of March 2026, building technology Paysafe PSFE SP
to allow banks to turn traditional deposits into programmable digital PayPal PYPL OP
money (tokenized deposits), and now has more than 160 stablecoin- Q2 Holdings QTWO SP
linked card programs live or in development globally. Visa also announced Rocket Cos RKT R
enhancements to its token infrastructure, embedding richer identity and SS&C SSNC OP
behavioral signals into credentials to support AI-driven commerce across Toast, Inc. TOST SP
devices and channels. Source: corporate release
Visa V OP
Financial technology NCR Voyix VYX OP
FirstOntario Credit Union partnered with FIS (FIS: rated OP) Everlink Wealthfront WLTH OP Western Union WU SP
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