San Francisco, May 11, 2011

Visa Inc. (NYSE: V), a global leader in electronic payments, today announced the next generation of payments solutions that will replicate the ease, reliability and security of Visa point-of-sale payments within traditional and digital eCommerce, mobile commerce and burgeoning social networking commerce environments. New offerings are expected to include a secure cross-channel digital wallet and a range of customized mobile payments services that address the specific requirements of geographic markets around the world.

“Our new solutions deliver greater consumer choice, convenience and control while helping our clients grow their businesses. By helping to reduce abandoned online shopping carts and bringing new account holders into the Visa network, we create a win-win-win for merchants, consumers and financial institutions,” noted Joseph W. Saunders, Chairman and Chief Executive Officer of Visa Inc. “In addition, we believe Visa’s new payments products and services will help expand financial inclusion to the billions of mobile subscribers today who currently lack access to traditional financial services.”

Simplifying Commerce in Complex Economies
In certain countries with established electronic payments infrastructures, expansive Internet usage and broad mobile network penetration, Visa will be introducing a digital wallet and services platform. The digital wallet will store Visa and non-Visa payments accounts, support NFC payments through the innovative Visa payWave application and deliver a wide range of transaction services to accommodate multiple commerce scenarios–including eCommerce, mobile commerce, micropayments, social networks and person-to-person payments. 

Visa is working with leading payments card issuers, community banks, credit unions, acquirers, payments processors and merchants to launch the digital wallet.  Among the financial institutions and organizations supporting Visa’s wallet strategy are:

• Barclaycard US
• BB&T Corporation
• Card Services for Credit Unions (CSCU)
• ICBA Bancard
• First Financial Bank of Ohio
• Nordstrom fsb
• Pentagon Federal Credit Union
• PNC Bank
• PSCU Financial Services
• Regions Bank
• Royal Bank of Canada
• Scotiabank
• TD Bank Group (US and Canada)
• US Bank

Visa expects to launch the digital wallet in the U.S. and Canada in fall 2011.

Key features of the wallet are expected to include:

• Click-to-buy: Shop conveniently and securely by simply entering an email address, alias or online ID and password, instead of a billing address, account number and expiration date. In addition, Visa is exploring dynamic authentication technologies that will bring added layers of security to online purchases.
• Cross-channel payments solution: The wallet consolidates multiple Visa and non-Visa payments accounts and can be used in mobile, eCommerce, social network and retail point-of-sale environments.
• Preference management: A menu that enables consumers to set preferences for how their wallet will work, allowing them to customize and control the features of their personal wallet from privacy settings to designating which account will be accessed based on merchant type or purchase amount.
• Merchant offers: A service that allows consumers to personalize their shopping experience by opting-in to receive money-saving discounts or promotions from participating merchants.

“The widespread adoption of Internet and mobile technology is changing the way people connect and transact across the globe, so we’re focused on delivering locally-tailored payments products and services,”  said Saunders. “We are introducing new solutions for eCommerce and mobile devices that provide the same ‘Visa-quality’ experience–convenience, reliability and security–people enjoy when using their Visa cards at a retail location. In doing so, we are accelerating the global shift to digital payments by harnessing our brand, products, network and 50-plus years of payments experience.”

Mobilizing Payments in Emerging Economies
In certain emerging geographic markets with significant mobile penetration, Visa will work with financial institutions and mobile-network operators to provide consumers with a secure, reliable and globally accepted form of payment and the ability to transfer and receive funds, manage financial accounts or top-up wireless air time using their mobile handset. The wide range of features and functions being developed for the digital wallet will allow Visa to pursue a number of strategies to tailor or bundle services to local needs.

• In countries like India and Russia, where card issuance and mobile subscriptions are high, but card usage is relatively low, Visa will help drive account activation and usage by working with financial institutions and mobile operators to link existing card portfolios with mobile devices to give handsets payments functionality.  
• In countries within Africa and the Middle East where mobile device usage is high and traditional electronic payments infrastructure is less developed, Visa will work with mobile network operators to link new virtual mobile prepaid Visa accounts to mobile phone numbers to enable cash-in, cash-out, personal payments and mobile payments –including bill payments and wireless airtime top-up.  Visa also intends to connect existing “closed loop” mobile money services that today provide basic mobile banking and payments services to unbanked and under-banked consumers to its global, open loop network–VisaNet. The integration will open closed loop systems, and provide consumers and merchants with unprecedented scale, functionality and acceptance beyond their existing local geographic footprints. 

Across all emerging geographic markets, Visa’s sophisticated payments technology and significant work in establishing global payments standards will aid in navigating the complexity of the myriad of network operators, handset models and operating systems in use globally, helping to enable millions of new and existing Visa account holders to simply use mobile technology for payments services.

Innovation, Acquisitions and Partnerships Expand Capabilities of Visa Network
Visa is developing its next generation services by integrating VisaNet, its global processing network, leading credit, debit, prepaid and commercial product platforms, new capabilities it has acquired through its subsidiaries CyberSource, Authorize.net and PlaySpan, and the unique expertise and services of key commercial partners. In deploying flexible solutions that are locally relevant and globally interoperable, Visa aims to attract more participants to its network and better enable them to connect and transact.

“Our build, buy and partner approach puts Visa in a unique position to deliver the speed-to-market and scalable solutions needed to stay ahead of new demands created by the convergence of Internet, mobile and electronic payments technologies,” said Saunders. “Visa and our subsidiaries are working with financial institutions, merchants, mobile network operators, and innovative technology providers to bring new ways to pay and be paid to more consumers and merchants around the globe.”

Management Webcast
Visa’s management team will host a live audio webcast beginning at 11:00 a.m. Eastern time (8:00 a.m. Pacific time) today. The dial-in information for the call is 888-790-4410 (within the United States) or 773-756-0127 (international). The conference passcode is 092075. A replay of the call will be available until May 26 and can be accessed by dialing 866-501-8774 (within the United States) or 203-369-1854 (international).  The live call and replay, along with supporting materials, can also be accessed through the Investor Relations section of Visa’s website at www.investor.visa.com.

San Francisco, May 11, 2011

Visa Inc. (NYSE: V) today announced plans to offer merchants a more streamlined connection to Visa’s global network, allowing them to more easily accept the next generation of payment products, offer real-time rewards, redemptions and discounts and other value-added services.

The new program is designed to allow Value Added Resellers (VARs), Acquirers and other payment gateway providers serving merchants with payment solutions to directly connect to VisaNet, Visa’s global processing network, via a flexible XML-based API that is currently in development and expected to be available by summer 2011. This is intended to expedite the delivery of new services and offer merchants a more streamlined payment processing solution, as well as provide direct access to Visa’s secure, reliable, and information-rich processing services.

“More and more merchants are relying on the comprehensive solutions offered by value added resellers and acquirers for their payments processing needs,” said Darren Parslow, Global Head of Processing, Visa Inc. “By directly connecting these entities to Visa we can positively impact not only VARs and acquirers but also merchants and consumers. The bottom line is that Visa is working to simplify commerce across a broad range of transaction environments, including ecommerce, mobile, social commerce and point-of-sale.”

How It Works
Visa’s new program, which is expected to be available to qualified partners in the third quarter of 2011, is designed to allow VARs, Acquirers and service providers to directly connect to VisaNet through a robust, flexible, information-based API using XML. This will enable them to manage and certify to one connection for all payment types, and establish a direct communications access channel for payments and information passing through the processing hub of Visa. This can benefit VARs, acquirers and other payment providers by enabling them to offer merchants access to advanced, real-time processing services and information-based products offered by Visa.

The new program is intended to benefit VARs, acquirers and merchants in four major areas:

• Simplified Processing: By reducing the number of touch points, simplifying communications between the point of sale and VisaNet, and using the latest technology standards for secure data delivery, payments and information can be processed with speed and reliability while also allowing merchants to implement new payment products and services quickly and efficiently. 
• Innovation: The program is designed to remove barriers to innovation and help merchants accept a new generation of payments solutions that will replicate the ease, reliability and security of Visa point-of-sale payments within traditional and digital ecommerce, mobile commerce and burgeoning social networking commerce environments.  For example, merchants working with VARs participating in the program will be better able to easily implement support for Visa’s secure cross-channel digital wallet, which was announced earlier today, and is expected to offer a range of customized mobile payment services that address the specific requirements of geographic markets around the world.
• Business Growth: For VARs the program can enhance their existing merchant relationships and enable the creation of new relationships through new value-added services made possible by the program. Visa’s new API network connections will allow merchant to integrate data into the payments process and over time offer new solutions for loyalty, discounts, rewards, recognition that may help them attract and retain customers. Acquirers can take advantage of technology investments being made by Visa and help merchant enhance relationships with their customers.
• Enhanced Security: Visa is also developing an end-to-end encryption solution to support PCI compliance and help protect customer data in new and emerging payment channels, such as ecommerce and mobile.

Sydney, May 5, 2011

International visitor spending on Visa cards in Australia dropped by four percent to $5.1 billion in 2010, reflecting the challenging financial times and the rising Australian dollar, according to the Tourism Outlook: Australia, a report released today by Visa that analyzed Visa cardholder spending over the past two years.

However, spending at fast food outlets rose by nearly 42 percent and shopping at discount stores rose by 37 percent as visitors found ways to make their travel budgets stretch further.

Visa’s Country Manager Australia, Vipin Kalra, said the figures highlighted a trend for international visitors to look for value in line with more conservative spending patterns following the global financial crisis.

“The high Australian dollar has certainly had an impact on spending, with international visitors increasingly attracted to bargain hunting and saving money in areas such as dining out,” Mr Kalra said.

The report shows a strong increase in spending at fast food outlets of 42 percent to $17.2 million during 2010, while spending at restaurants rose by four percent to $202.9 million.  Chinese visitors recorded the biggest increase during the year on spend in restaurants – with total Visa card spend up 16 percent to $12.2 million.

The chief executive of peak industry body Tourism & Transport Forum, John Lee, said China is Australia’s fastest growing inbound market.

“The number of Chinese visitors coming to Australia jumped by almost a quarter in 2010 and China is now our third biggest source market,” Mr Lee said.

“We also saw double digit growth in arrivals from other key Asian countries and Australia is in a great position to capitalise on the potential offered by these emerging markets.”

Other findings in the Tourism Outlook: Australia report include:

• UK visitors were the biggest Visa card spenders at $973.3 million (down 3 percent), followed by the US at $638.9 million (down 7.9 percent)
• Visa card spending was higher among visitors from Asia including China (up 2 percent), Indonesia (up 9.9 percent), Singapore (up 2.4 percent), Malaysia (up 4.8 percent) and South Korea (up 6.3 percent)
• Overall spending on accommodation rose by 4.6 percent to $600.52 million
• In the retail sector, spending at electronics stores rose by 18 percent to $29 million and discount store spending was up 37 percent to $5 million, but department store spending was down 16 percent to $84.6 million 
• The value of an average Visa card transaction by international visitors in 2010 was $171.40, with the total number of Visa card transactions rising slightly at 0.2 percent to 30.2 million.

Mr Kalra said the outlook for Australian tourism remained positive despite the continuing strength of the Australian dollar and recent natural disasters.

“The tourism industry has shown incredible resilience in tough times and Australia remains a very desirable destination for travellers, particularly from Asia,” he said.

Total Spend on Visa cards in Australia by Top 10 Source Markets

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About the report
Visa cardholder spending data is based upon VisaVue® Travel data, which reviews tourism spending on Visa-branded payment cards by international visitors from key source countries while visiting Australia during the calendar years 2010 and 2009.

Washington, April 27, 2011

Visa Inc. (NYSE: V) opened its fourth Global Security Summit today with a keynote address by chief enterprise risk officer Ellen Richey, in which she applauded the collective progress in making electronic payments more secure from criminals. While acknowledging this important success – achieved through closer industry cooperation, coordination with law enforcement and technological advancements – Richey also warned of future challenges that will require all stakeholders to more rapidly adopt “smarter” technologies and better application of risk-management intelligence.

“Visa’s global fraud rate recently hit a historic low – at just over 5 cents for every $100 transacted, down more than two-thirds from the levels of 20 years ago, and more than 99 percent of large merchants have confirmed they do not store sensitive cardholder data,” Richey told an audience of more than 500 business, government, academic and law enforcement officials from around the world. “Today, payment card data is more secure; data compromises, when they do occur, are better managed; and technology advancements have aided in preventing fraud.”

But despite progress, Richey highlighted several challenges ahead, including persistent and negative consumer perceptions about data security. According to a recent Visa survey in the U.S., Canada and Brazil, consumers rank identity theft and counterfeiting as top concerns when using credit cards, ahead of debt accumulation. Richey said 61 percent of consumers believe criminals are ahead of the payment industry when it comes to fraud.

To combat both real and perceived threats, Richey challenged Security Summit attendees to broaden their use of “smarter” strategies that are proven to be effective at reducing fraud. She outlined a three-pronged approach for the industry to follow in the future, including:

• Expanding investments in, and use of, smart devices, such as EMV chip cards;
• Making networks smarter; making better use of the information available today; 
• Adopting smarter cardholder authentication methods, such as two-factor authentication.

The event will also include a panel session that explores the impact of recent legislation proposed by U.S. Senator Richard Durbin (D-Ill.), which Richey says “has the potential to chill investment in security or even undermine today’s consumer protections.”

The effectiveness of cross-industry collaboration in stemming the tide will be tested by a live data breach simulation moderated during the Summit by former CIA and NSA director Gen. Michael V. Hayden. The exercise will offer a glimpse into how merchants, law enforcement, financial institutions, government and other parties respond to data compromises in order to protect consumer information and stem financial losses.

Michael Chertoff, former secretary of the U.S. Department of Homeland Security and founder of The Chertoff Group, will provide a keynote address to the Summit audience. He is expected to call on the private and public sectors to coordinate in the fight against cybercrimes and to continue to make security investments a priority.

Following her keynote remarks, Richey presented the inaugural Visa Leadership in Security Awards. The first award honored the accomplishments of former U.S. Department of Justice prosecutor Kim Peretti (now a director in PwC’s Forensics Services practice) for her efforts in securing a historic 20-year prison sentence for Albert Gonzalez, the notorious cybercriminal behind the world’s largest card compromises. Also honored was the National Collegiate Cyber Defense Competition (NCCDC) in recognition of its efforts to promote computer security curricula. University of Washington student Alexei Czeskis, who was captain of the cyber team that won the NCCDC’s 2011 competition, accepted the award on behalf of NCCDC.

Visa’s fourth Global Security Summit was convened to discuss how payments system participants can collaborate to protect cardholders against current and emerging security threats. Five panels were assembled to cover timely topics relevant to securing payments. Panels included: the rise and fall of criminal mastermind Albert Gonzalez; managing eCommerce fraud challenges; the impact of the Durbin Amendment on security innovation; EMV chip and dynamic authentication; and securing the future of mobile commerce.

A live webcast of the Summit can be viewed today at www.visasecuritysummit.com. Recorded video will be available later this afternoon.