As jackg has pointed out, they are losing market dominance. 20 years ago if you wanted to buy something in a store or online, you could pay in cash, Visa, or Mastercard. Now you can use Google Pay, Apple Pay, Microsoft Pay, PayPal, Venmo, Cash App, Zelle, Advanced Cash, dozens of other banking or payment apps, and now bitcoin too.
I don't doubt any of what you wrote, but I still question whether it's advantageous for Visa to be advertising to the public. It isn't like an advertisement for Coca-Cola or Twinkies, where the ad is designed to create a craving in the viewer for the product. Nobody is going to crave a Visa card after watching a Visa advert, know what I mean? I'm just not sure that creating brand awareness through a TV-type ad really helps a service like theirs. I could be wrong, of course.
They need to be under the eyes of the public all the time because like what happens to Amazon, Visa needs customers like us to survive. People need to feel secure when they use their VISA/MC/AMEX what-else credit card payment gateway. While they rip-off merchants and businesses with their astronomical fees, they need us to keep using their cards and their network.
Hence, all this advertising.