Visa is deliberately straddling two payment eras simultaneously — sustaining interchange-driven card volume while building the infrastructure rails for AI-initiated, stablecoin-settled transactions that bypass traditional card flows entirely. For issuer processors and network-dependent fintechs, this is a structural signal: Visa is hedging its own network economics before the cannibalization curve arrives, which means infrastructure investment decisions made today need to account for a world where card-not-present gives way to agent-not-card.