If a contractor that accepts Visa receives payments, the contractor's credit card company (the one that allows him to accept the payments) sends him the 1099-K (if the annual amount meets the threshold). The person paying does not send a 1099-NEC or 1099-MISC because the payment was made under a program subject to a 1099-K (from what I remember, no 1099-MISC is required even if the 1099-K is less than the threshold).
In prior years the threshold was $20,000 so seeing a 1099-K was not too common for many taxpayers, but with the new lower threshold to $600 it will be much more common.
