The Business StudyHome/Compare/American Express vs Visa
American Express vs Visa: who makes more money?
Visa is bigger: $45.9 billion in revenue against $41.3 billion for American Express, about 1.1 times as much. It also keeps more of each sale: $51.20 of every $100 versus $26.23. Across 5 rounds from their latest annual reports, Visa wins 5.
From each company's latest Form 10-K: American Express (year ended December 31, 2025) and Visa (year ended September 30, 2026). Page updated November 8, 2026.
Revenue Money coming in
Net profit After every cost and tax
Kept per $100 of sales Profit margin
Employees As each 10-K states it
Revenue per employee Revenue ÷ employees
Growth over 5 years Revenue, first to latest year shown
How each one makes its money.
American Express earns fees from merchants on every swipe, card fees from members, and interest on card balances.
How American Express makes moneyVisaVisa runs the network that moves card payments. It doesn't lend money: banks pay Visa fees on every swipe, and Visa gives some back as incentives.
How Visa makes moneyQuick answers.
Who makes more money, American Express or Visa?
Visa: $45.9 billion in revenue against $41.3 billion.
Which is more profitable, American Express or Visa?
Visa keeps more of each dollar ($51.20 of every $100). In total profit, Visa made more: $23.5 billion.
Which has more employees, American Express or Visa?
American Express, with about 76,800 against 34,800.
Sources: American Express Company Form 10-K and Visa Inc. Form 10-K on SEC EDGAR. Fiscal years can end in different months, so each side uses its own latest year. Profit means net income.