Visa / Mastercard C3Q26 Earnings Preview - Lean Constructive on Healthy Operating & Pricing Environment

J.P. Morgan previews Visa's F4Q26 results (October 27, AMC) and Mastercard's 3Q26 results (October 29, BMO), leaning constructive on a healthy broader operating environment. Spending data show notable stability in above-trend volume growth, which should support typical upside to estimates for both networks. Visa continues to benefit from pricing actions taken around ecommerce/tokenization, which we expect to sustain and compound into FY27, supporting a low-double-digit organic revenue growth outlook;