Viewpoints

Visa’s Blog – Visa Viewpoints

PERSPECTIVES ON DIGITAL CURRENCY

Apr 27, 2012

Visa reveals regional travel patterns at leading global industry events

What happens to a country’s tourism economy when they endure man-made or natural calamities? How are shifts in income levels and traveler preferences affecting global tourism patterns and what can countries do to understand these trends and build on their reputation to continue to attract tourism dollars?

Answers to these questions and more were discussed when Visa took part in two key global travel and tourism events last week as part of our ongoing commitment to contributing market intelligence and thought leadership to the global travel and tourism industry.  

 

Visa’s David Katz speaking to the panel moderator, Peter Greenberg

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Posted by: Jag Mistry, Corporate Relations, Visa Inc. on April 27, 2012 at 10:26 am

Apr 25, 2012

Visa Recognized for Investing in Sustainable Development

Note: Today, Visa is being honored with the inaugural Corporate Award presented by the U.S. government’s Millennium Challenge Corporation. The following is a guest submission from Daniel W. Yohannes, Chief Executive Officer, Millennium Challenge Corporation.

Since 2004, the Millennium Challenge Corporation has been leading the fight against global poverty. As an innovative and independent U.S. development assistance agency, we are changing the conversation on how best to deliver smart assistance by focusing on good policies, country-owned development solutions and results. Our success rests in large part on our ability to forge successful partnerships for sustainable development. This means partnering with countries around the world, civil society, non-governmental organizations, the private sector, and other government agencies.

One lesson we know for sure: Assistance alone is not enough. What will be enough to tip the scale toward sustainable growth is the innovation and investment driven by the private sector. The private sector creates jobs and new products. The private sector is where entrepreneurs are born and thrive. And, the growth, investment, trade, and business generated by the private sector will help lift people out of poverty.

Today, the Millennium Challenge Corporation convenes our first Forum on Global Development. This will be a unique occasion for visionaries and practitioners in international development to meet, exchange ideas and honor three outstanding awardees for their work on gender integration, investment and innovation.

On behalf of MCC, I am proud that we will recognize Visa as the recipient of our first Corporate Award for demonstrating exemplary commitment to eradicating poverty in the developing world. We are impressed with Visa’s commitment to advancing financial inclusion by leveraging its core business along with innovation, strategic partnerships and financial literacy. We applaud Visa’s public-private partnership with the Government of Rwanda, including the extensive Charter of Collaboration as well as partnerships with organizations such as Women’s World Banking and GSMA mWomen, to advance financial access for women and their efforts to bring financial literacy education to millions of people worldwide.

In the global fight against financial exclusion and poverty, no single organization has all the answers. But through innovative solutions from—and partnerships among—governments, the private sector and civil society, we are making a difference.

The Millennium Challenge Corporation funds country-led solutions for reducing poverty through sustainable economic growth. 

U.S. Deputy Treasury Secretary Neal Wolin presents Visa with the Millennium Challenge Corporation’s Corporate Award

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Posted by: Daniel W. Yohannes, Chief Executive Officer, Millennium Challenge Corporation on April 25, 2012 at 7:54 am

Apr 24, 2012

Government E-Payments Adoption On The Rise

As reported in today’s Wall Street Journal, the Economist Intelligence Unit (EIU) today shared results from the second Government E-Payments Adoption Ranking (GEAR) study, sponsored by Visa.

The 2011 GEAR study measures the extent to which governments in 62 countries provide e-payment services and the underlying factors that affect government e-payments adoption. It builds on an initial study conducted in 2007 with new findings that highlight the diversity of government e-payment systems already in place, as well as the abundance of opportunities available to government for improving e-payment services for citizens and businesses.

Bottom line – e-payments adoption by governments is on the rise, and infrastructure and security measures are improving to better support these programs.

Governments use e-payments in a range of ways. From disbursing benefits to citizens so they receive timely, secure access to their funds, to establishing purchasing card programs that help streamline paper-based processes, prevent fraud and drive compliance, e-payments are enabling governments to enjoy greater efficiencies and reduce costs.

The following video highlights some of the topline findings:

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Posted by: Brian Triplett, Head of Commercial & North America Prepaid, Visa on April 24, 2012 at 11:08 am

Apr 23, 2012

Sixth Annual Financial Literacy Summit in Chicago

Today, we’re once again working with the Federal Reserve Bank of Chicago to put on our annual Financial Literacy Summit. At the event, speakers from around the world will be exploring potential solutions to improve financial literacy and discussing the successes and challenges faced in various countries around the world.  This will be the sixth consecutive year that we’ve partnered with the Federal Reserve Bank of Chicago to co-sponsor the Summit, which helps to mark national Financial Literacy Month and Money Smart Week in Chicago. Highlights of today’s Summit include:

  • The results of the 2012 Global Financial Literacy Barometer from Visa and Kiplinger’s Personal Finance Magazine. The barometer assesses and ranks the financial literacy levels of people in 28 nations.
  • The release of Visa’s new, free, comprehensive personal finance high school curriculum called the “Practical Money Skills Course,” which covers subjects such as budgeting, saving, loans, insurance and more.
  • A panel presentation on original financial education research that explored ways financial knowledge and behavior can be improved.

To view the full Summit online, visit www.practicalmoneyskills.com/summit2012.

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Posted by: Erika White, Visa Corporate Relations on April 23, 2012 at 8:34 am

Apr 18, 2012

London 2012: 100 Days and Counting!

100 Days to London 2012

It’s hard to believe, but the London 2012 Olympic Games are only 100 days away!  Visa has been a proud sponsor of the Olympic Games for 25 years, so as we count down to the Opening Ceremonies, we have a lot of exciting ways to cheer on the athletes:

*Think you know how hard Team Visa athletes like Michael Phelps train to prepare for the Olympic Games?  Get a behind the scenes look at the hard work and determination that makes us proud to be on their team!

*Help us cheer on Olympic athletes by visiting our app on the Visa Go World page on Facebook.  Cheer loud and cheer often!

TeamVisaFBscreen

*Finally, as a supporter of the United States Olympic athletes, Visa is also proud to literally be a part of the fabric of the flag that will  United States Olympic Committee’s “Raise Our Flag” campaign, launched today in New York.

 Stay tuned as we unveil even more ways to help us support the athletes and the London 2012 Olympic Games!

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Posted by: Erika White, Visa Corporate Relations on April 18, 2012 at 4:04 pm

Apr 17, 2012

Visa Adds Nokia Lumia 610 To List of Certified Devices for Visa payWave Payments

You might have missed it! Nokia announced last week that the new Lumia 610 smartphone has been added to Visa’s list of approved devices for use with Visa’s mobile payment app – Visa payWave. Nokia’s Lumia joins a number of smartphones already approved by Visa, including the latest NFC-enabled devices from Samsung, LG and RIM. These certifications are important and set the stage for banks and mobile operators to allow consumers to “wave and pay”, finally transforming the phone into a payment device.

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Posted by: Brad Greene, Mobile Business Development on April 17, 2012 at 9:48 am

Apr 16, 2012

Industry Insights: Rick Oglesby, Aite Group – Part 2

Just a few days ago we posted a video of Rick Oglesby, Senior Analyst at Aite Group, discussing the latest mobile trends from Mobile Contactless Payment Innovations Summit in San Francisco. In this installment, we bring to you the second part of our talk with Rick, giving us his industry perspective on mobile adoption and the opportunities available, for companies like Visa, to lead the industry.

With more than 15 years of experience in the payments and financial services industries, Rick’s current remit includes mobile payments, merchant acquiring and commercial card issuing. For more information about how Visa is approaching mobile and payments innovation, click here.

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Posted by: Erika White, Visa Corporate Relations on April 16, 2012 at 9:40 am

Apr 13, 2012

Industry Insights: Rick Oglesby, Aite Group – Part 1

Visa caught up with Rick Oglesby, Senior Analyst at Aite Group, during the Mobile Contactless Payment Innovations Summit in San Francisco to discuss the latest mobile trends and get Rick’s insight on the industry. While at the conference, Rick moderated a panel on how to leverage big data to optimize mobile transactions and drive convergence, which he discusses in the video below.

With more than 15 years of experience in the payments and financial services industries, Rick’s current remit includes mobile payments, merchant acquiring and commercial card issuing. For more information about how Visa is approaching mobile and payments innovation, click here.

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Posted by: Erika White, Visa Corporate Relations on April 13, 2012 at 7:50 am

Apr 12, 2012

From Under the Mattress and Into a Bank: Increasing Financial Access for Women in Nigeria

Provisions seller in Nigeria

Today, Visa’s Chairman and CEO, Joe Saunders, joined with the President and CEO of Women’s World Banking to announce that our two organizations are partnering to advance financial inclusion for women in Nigeria. As part of the announcement, they shared their perspectives in an editorial in the Huffington Post about how financial inclusion can help transform the lives of women in emerging markets.

Nearly 2.5 billion people – almost half the world’s adult population – do not have access to formal financial services. Without basic payments and savings accounts, money often is kept in cash under the mattress then moved around from person to person, drastically increasing the risk of theft or loss. Even a task as simple as paying a bill – in person and via cash – can be unsafe, costly and time-consuming. The implications of this financial exclusion are significant and far-reaching, reinforcing the cycle of poverty and slowing economic progress.

In emerging economies around the world, this can be a particular challenge for women. In Nigeria, for example, nearly 77 percent of women lack access to financial services.  Yet, they often serve as the primary financial managers in most families, expected to stretch meager and irregular incomes to meet daily household needs, not to mention long-term budgeting for life’s unexpected shocks.

The initiative in Nigeria that was announced today will help provide women there with an opportunity to become economically and socially empowered through access to a savings account.

Read more about the Visa and Women’s World Banking initiative.

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Posted by: Douglas Sabo, Visa Corporate Responsibility on April 12, 2012 at 7:31 am

Apr 5, 2012

Digital Currency is the Future

More and more people are noticing the rapid shift from cash and checks to electronic payments.  Earlier this week, Canada announced it will withdraw the penny from circulation, citing high cost of production, transportation, storage and handling.  Just today, the New York Times hosted a debate on its website highlighting differing viewpoints on currency and how to “bring dollars and cents into this century.”  There are a number of interesting suggestions – including redesigning bills, eliminating the penny and replacing the text on coins.

One concept discussed – switching to a digital alternative – is already underway.  As you may have seen, we recently published a number of blog posts about the increasing benefits of moving towards a cashless society.  Among them was convenience, reliability, speed – but one of the most crucial advantages is security.  We take our cardholders’ security seriously, and have worked hard to protect them as more people turn to electronic payments as a way to exchange currency.  You can learn more about these security measures here.

We’re excited that so many people are getting involved in the debate on digital currency – and look forward to hearing more points of view.  We’ll definitely be talking more about it on the Viewpoints blog and hope you can join us .  What are your thoughts on the future of currency?

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Posted by: Erica Harvill, Visa Corporate Relations on April 5, 2012 at 3:20 pm