Checkout:
> "Depending on your configuration, you will process the actual payment through your own system, a payment processor, or an e-commerce partner as you normally do."
( https://developer.visa.com/products/visa_checkout/guides )
CyberSource:
> Before moving to production and running real transactions, you must have a merchant account from an acquiring (merchant) bank that can process the credit card payments.
( https://developer.visa.com/products/cybersource/thingstoknow )
Visa Direct APIs:
> However, in order to use the Visa Direct APIs in production, the Originator must either be a Visa client financial institution (issuer or acquirer), a third-party Originator that has been granted a Visa acquirer POS license (geographical restrictions apply), or a third-party Originator that has established an acquiring relationship for that purpose with a Visa client financial institution.
( https://developer.visa.com/products/visa_direct/thingstoknow )
The token and transaction services are very interesting and it's cool to see Visa jumping into decent modern payment UX, but I don't think they're gunning for Stripe just yet...