Visa’s Blog – Visa Viewpoints


May 28, 2013

With 3.5 Million Visa Chip Cards Issued Since 2011, EMV Continues to Gain Momentum










Since announcing our EMV migration roadmap in August 2011, Visa issuers have put what averages out to over 5,000 new chip-enabled cards in the hands of U.S. cardholders every day. As of March 31, the total number of Visa chip cards in market was at 3.5 million and growing.

We’re very pleased with the progress the U.S. has made over the past two years. With each new card, the U.S. payments ecosystem gets one step closer to achieving the improved security that EMV technology affords to consumers, merchants and issuers. That’s because when a chip is inserted into the payment terminal, the chip generates a code that is unique to that transaction. This code renders stolen payment information useless at the point of sale, reducing its value to criminals and shrinking counterfeit fraud. The opportunity that chip presents goes beyond security, and will enable new and emerging forms of electronic payment, such as NFC-based mobile payments.

“We are always looking for new ways to provide our customers with better ways to pay,” said Clifford Cook, chief marketing officer for U.S. Bank Retail Payment Solutions. “EMV is a secure and trusted technology that is in use globally. We’re excited to offer chip technology to our cardholders, adding not only an additional layer of protection to transactions, but extra convenience when traveling abroad.”

We have heard similarly positive feedback across the industry. And while 3.5 million cards represent a strong start, we know that there is still work to do before the U.S. is fully migrated to EMV. That’s why we’re working with financial institutions and merchants of all sizes to provide them with the guidance, tools and resources they need to help support their migration plans. We’re also actively participating in discussions with the various EMV industry groups to provide our input and expertise.

I frequently hear the question, “How long will it be until everyone in the U.S. has a chip card?” The ubiquity of chip cards is still a few years out, but we’re proud to be at the forefront of this evolution, working alongside other stakeholders in the payments ecosystem.


Posted by: Stephanie Ericksen, Head of Authentication Product Integration, Visa Inc. on May 28, 2013 at 4:48 pm

May 16, 2013

A Pioneering Restaurant Reshapes Moscow Dining

Entrepreneur Ruslan Radjapov’s business began when he saw an opportunity.

The former investment banker had a hard time finding mid-range restaurants in mid-1990s Moscow. Though he could find expensive restaurants and very inexpensive restaurants, “There wasn’t much in the middle,” he says.

So he decided to start his own company, Correa’s Restaurants, a concept that would offer fresh, seasonable and locally-sourced food at affordable prices.

Ruslan’s restaurant formula has hit a nerve with Muscovites who crowd his nine restaurants and 13 self-style “canteens” that span the Russian capital. New locations are being added every year and Correa’s continues to flourish.

Accepting cards, Ruslan says, was always part of his plan to attract clientele from all walks of life and make payment easy for the consumer.


Posted by: Erika White, Visa Corporate Relations on May 16, 2013 at 10:12 am

Category: Uncategorized

May 15, 2013

Growing Phishing Industry Underscores Need for Consumer Education


Phishing scams have plagued consumers for a number of years, morphing to adapt to changing trends and technologies.

Once perpetrated by mail and phone, this tactic is now also common by email and text message.

Phishing is when fraudsters pretending to be from well-known companies, organizations, or government agencies contact consumers and try to trick them into revealing their Social Security numbers, financial account information, passwords, or other personal information. That information is then used to make unauthorized purchases, take over victims’ accounts, open new accounts, or even to apply for jobs or get tax refunds and other government benefits.

Even though phishing scams are not new, they continue to pose a serious problem. According to RSA’s recent Fraud Report, the total number of phishing attacks launched in 2012 was 59% higher than in 2011. Further, the report estimates that global losses from phishing last year were around $1.5 billion.

With fraudsters becoming ever more sophisticated at impersonating trusted organizations, it’s important for consumers to stay a step ahead and recognize these scams and better protect their personal information. That is why we are working together with the Consumer Federation of America to develop consumer education materials to help address this trend.

Watch the new video or access the tip sheet to get more information on how to avoid this type of scam.


Posted by: Jennifer Fischer, Head of Americas Payment System Security on May 15, 2013 at 9:58 am

May 13, 2013

Visa Joining Forces with White House to Support Veterans and Their Families

With frequent relocations and time spent out of the workforce on active duty, the path to employment for veterans and military spouses can be difficult to navigate. Visa is proud to be participating in the White House program Joining Forces, now in its second year, which connects our military families to rewarding jobs and career paths at American companies.

We believe strongly in this program and plan to hire at least 100 veterans or military spouses over the next three years. Not only is this an opportunity to support the courageous men and women that have served our country, but we also gain access to highly trained individuals with diverse skills, adding immense value to our organization.

Visa is honored and proud to be participating in Joining Forces, and we look forward to welcoming our future colleagues!

If you know any veterans or military spouses interested in a rewarding career with Visa, please have them visit our special military job site.


Posted by: Erika White, Visa Corporate Relations on May 13, 2013 at 1:54 pm

Category: Uncategorized

May 3, 2013

The Results Are In: Visa’s TechCrunch Disrupt Hackathon Generates Fresh Thinking on Payment Security Education

After two days of panels, a Startup Battlefield and a 24 hour hackathon, TechCrunch wrapped up another successful Disrupt NY event with thousands of attendees.  Visa joined in on the fun by sponsoring the Disrupt hackathon, where 700 developers descended on New York City for a chance to win $8,500 from Visa.

My Visa colleagues Lee Mokri and Sofia Mata-Leclerc were on-site at the hackathon helping developers throughout the night and eventually awarding the prizes.  The Hackathon was a way to generate more awareness and create a forum to discuss improving payment security, and make learning about security more engaging and digestible.  We tapped into the incredible creative talent of the developer community to take a new approach to this challenge.  After working through the night, developers submitted numerous creative concepts, making it a tough choice for the judges.

The grand prize winner, Theo Rushin, Jr., created a game designed for kids and parents to play and learn about online security, together.  The runner-up, Frank Denbow, was recognized for creating a phishing game that delivers tips throughout each stage of play.



Here’s a peek inside the hackathon:


Posted by: Mark Norris, Senior Business Leader, Emerging Products, Visa Inc on May 3, 2013 at 4:22 pm