Visa, Mastercard, AmEx Stocks Slip After Walmart, Amazon Stablecoin Report – Analysts Flag Buying Opportunity

William Blair analyst Andrew Jeffrey said that while stablecoins may appeal to merchants seeking lower card processing fees, they are not well-suited for business-to-consumer transactions.

Shares of payments giants Visa (V), Mastercard (MA), and American Express (AXP) fell sharply Friday following The Wall Street Journal's report that suggested Walmart (WMT) and Amazon (AMZN) are exploring the launch of their stablecoins to bypass the traditional fees of card-based systems.

Visa’s stock dipped nearly 5%, while Mastercard’s stock was down 4.4%, and American Express shares fell more than 2%.

Meanwhile, Amazon’s stock and Walmart’s stock traded relatively flat on Friday.

Stablecoins are cryptocurrency tokens typically pegged to fiat currencies like the U.S. dollar, making them more practical for everyday payments than highly volatile digital assets such as Bitcoin.

Despite the market reaction, Wall Street analysts downplayed the threat to the traditional payments ecosystem. Keefe Bruyette & Woods said in a note cited by TheFly that it sees "limited near-term risk" to Visa and Mastercard, noting that any retail stablecoin initiative would hinge on regulatory progress, particularly the proposed GENIUS Act.

William Blair analyst Andrew Jeffrey called the selloff a “buying opportunity.” While stablecoins may appeal to merchants looking to reduce card processing fees, Jeffrey argued that they’re not well-suited for business-to-consumer transactions. 

He added that Visa and Mastercard are already developing infrastructure to support stablecoin payments on their networks, potentially lowering acceptance costs while preserving their relationships with issuing banks.

Visa’s stock has gained more than 11% this year, while Mastercard’s stock is up 6%. However, American Express’ stock has dipped around 3% during the same period.

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