Visa in Europe

Visa retains an effective decision-making body in Europe through a revised Visa Europe Board that reflects our new structure as a wholly-owned subsidiary of Visa Inc. and as a Bank of England designated entity.

The role of the Visa Europe Board includes approving the budget for Visa in Europe, tailoring Visa Inc. strategy for the European region and deciding on matters referred to it by the Visa Europe Executive Leadership Team.

The CEO is responsible to the Board for the day-to-day management of the European Business, supported by her leadership team and a management committee.

Reporting lines with the European business balance the needs of both the regional operating model and the global regional structure, with matrix reporting lines in place for central service functions.

Alison (Debbie) Hewitt MBE – Independent Non-Executive Chair
Debbie Hewitt (MBE) joined Visa Europe Limited as an Independent Non-Executive in June 2017 and became Non-Executive Chair in July 2018. She is also currently Non-Executive Chair of Compare the Market, and The Football Association, which includes Chairing the UEFA Men’s Euros 2028. Debbie became the first elected female British Vice President of World Governing Football Body FIFA Council in 2023.

Debbie’s executive career was spent at RAC plc where she was Group Managing Director and prior to that she was in retail management with Marks & Spencer. She holds an MBA (distinction) from Bath University, was awarded the MBE for services to Business and the Public Sector in 2011, is a Fellow of the Chartered Institute of Personnel Development (FCIPD) and was made a Chartered Companion (Chartered CCIPD) in 2021. In 2022 she was awarded the Honorary Degree Doctor of Business Administration by Nottingham Trent University, in recognition of her significant contribution to Business and the Public Sector and in 2024, was awarded an Honorary Fellowship by London Business School for achieving outstanding distinction in business, commerce and public affairs. She was the first female MD of RAC plc in its 125-year history and is the first female Chair of the Football Association in its history. In 2021, she was included in the Vogue 25 – British Vogue’s annual list of the UK’s most influential women and in 2025 was presented with a Non-Executive Director of the year award by the Sunday Times. She is a member of The UK Soft Power Council, a joint initiative between the Foreign Office and DCMS, to advise on Soft Power influences on foreign policy.
Antony Cahill – Chief Executive Officer, Europe
Antony Cahill is the Regional President and Chief Executive Officer of Visa Europe. In this role, he is responsible for leading all operations of the 38-market region.

Since 2023, Antony served as President of Visa’s global Value-Added Services (VAS) business, where he was responsible for designing, developing and delivering a global portfolio of 200+ products and solutions that power client growth and business performance. Under his leadership, VAS grew into a $9B global business and delivered revenue growth of more than 20% annually.

Antony initially joined Visa in 2018 as Managing Director for Visa Europe and later became Deputy Chief Executive Officer, overseeing all of Visa’s client relationships in the region.

Prior to joining Visa, Antony spent more than 20 years working in Australia’s financial services industry, serving as Chief Operating Officer at NAB (National Australia Bank) and in various executive-level roles at ANZ (Australia and New Zealand Banking Group Limited).

Antony earned a Master of Business Administration degree from the Australian Graduate School of Management at the University of New South Wales, and a Bachelor of Science degree from Loughborough University in the United Kingdom.
William (Bill) Sheedy – Non-Executive Director – Senior Advisor to Visa's Non-Executive Chair
Bill Sheedy serves in a unique role as Senior Advisor to Visa’s Non-Executive Chair and is responsible for strategic initiatives important to Visa and the payments industry, including global market expansion, social impact programs and pricing.

Prior to this appointment, Bill led global strategy, government and public policy, learning, mergers and acquisitions, and social impact. He has served at different times as Visa’s president of Europe, North America and Latin America regions and helped lead the company’s restructuring in 2007, culminating in a highly successful IPO in 2008.

Bill is a board member for Visa Europe, immediate past chair of the West Virginia University Foundation Board and current investment committee chair. He holds a B.S. from West Virginia University and an MBA from the University of Notre Dame.
Philippe Zoetelief Tromp – Independent Non-Executive Director, and Risk Committee Chair
Philippe Tromp has over 40 years of experience in Capital Markets, Financial Market Infrastructure, General Insurance, and Financial Technology. He started his career in Investment Banking at PaineWebber Inc. and Bankers Trust Co. and later became Head of the international operations of Financial Security Assurance, the US financial guarantee insurance company, a position he held for 16 years.

More recently, Philippe led a start-up behind the development of a multi-dealer Request-For-Quote (RFQ) trading platform in the credit derivatives market. From 2015 until May 2024, he was a Non-Executive Director of Euroclear UK and International, the Central Securities Depository, where he chaired the Risk Committee and from 2012 until November 2023, Non-Executive Director and Chairman of the Board of AIG UK Limited, the UK subsidiary of US insurer AIG Inc.

Philippe holds an MBA from Columbia Business School and is a graduate of Ecole Nationale Supérieure des Mines with a major in Solid State Physics.
Hamayou (Aki) Hussain – Independent Non-Executive Director, and Audit Committee Chair
Aki Hussain has over 20 years of professional experience in banking, insurance and accounting. He is currently the Chief Executive Officer of Hiscox plc previously serving as the Chief Financial Officer for 5 years. Prior to joining Hiscox, Aki was the Chief Financial Officer of Prudential plc. UK & Europe. Aki also held a number of senior roles in the financial services, telecoms and media sectors. He was Finance Director for the Consumer Bank division at Lloyds Banking Group, before which he was Finance Director for the Consumer division of NTL (now Virgin Media).

Aki is also a Chartered Accountant, having trained with KPMG. Aki has a BA degree in Accounting and Finance from the University of Leeds and an ACA from the Institute of Chartered Accountants in England and Wales and a fellow of the ICAEW.
Christopher (Chris) Clark – Non-Executive Director
Chris Clark is a Non-Executive Director of the Visa Europe Limited Board. He is immediate past Chairman of Visa Asia Pacific, where he drove Visa’s market expansion strategy in the region and supported regional and global initiatives including strategic engagement with both government and industry stakeholders. He is also a Limited Partner Advisor to NYCA Partners, a New York based fintech Venture Capital firm.

Until 2023, Chris was President, Visa Asia Pacific. In his ten years in the role he more than doubled the size of Visa’s business in the region and established a sales-focused, digital-first culture. While leading Asia Pacific, Chris focused on expanding the reach of electronic payments and forging strong client and partner relationships, driving innovation in the regional payments ecosystem and building new partnerships with established and start-up fintechs. Chris has previously held a number of leadership roles in markets around the region. He led North Asia and Australasia, where he successfully drove growth and managed challenges in Visa’s most developed markets. He was also General Manager for Australia, New Zealand and the South Pacific as well as General Manager for Taiwan, Hong Kong and Macau and the Philippines. He joined Visa in 2002 as General Manager Taiwan.

Before joining Visa, Chris served 14 years in a variety of senior management positions at National Australia Bank, including market management roles in Taiwan and Thailand. He also worked in consumer and commercial banking, including assignments in Hong Kong and Tokyo.

Chris is a fluent Mandarin speaker, has a Bachelor of Commerce from University of Melbourne (Australia) and has completed executive programs at both INSEAD (France) and Stanford University (USA).
Amélie Breitburd – Independent Non-Executive Director
Amélie Breitburd has more than 30 years of international experience in the insurance and financial services industry. She is an independent board member at CNP Assurances since 2022, chairing the Audit & Risk and ESG Committees. Amélie is also on the board of Women in Finance France.

Amélie was the CEO of Lloyd’s Europe operating from Brussels for 3 years until December 2023. Prior to this, she spent 16 years at AXA notably as Group Chief Controller at AXA headquarters in Paris, CFO for Asia based out in Hong Kong and CFO for the UK & Ireland in London. She worked in prior years at KPMG and Allianz France.

Amélie graduated from ESSEC and a qualified actuary.
Hanu Mehrotra – Chief Financial Officer, Europe
Hanu Mehrotra is CFO of Visa Europe Ltd., overseeing financial strategies, planning, reporting, operations, and corporate real estate in Europe.

Since 2024, Hanu Mehrotra has held the position of SVP & CFO of Value-Added Services (VAS) at Visa, where he acted as the strategic finance partner to the business unit’s leadership. In this role, he was responsible for driving financial strategy, resource allocation, investment planning, and performance management for one of Visa’s fastest growing and most dynamic segments.

Earlier in his career, Hanu spent nearly six years at Facebook as a Finance Director, supporting the company through its post-IPO hypergrowth phase. He partnered with product and business leaders to introduce financial rigor into rapidly scaling operations, led long-range planning initiatives, and supported investment decisions across new and emerging areas.

Prior to Facebook, Hanu was a Senior Manager of Finance & Strategy at Microsoft, where he worked in the Search and Ads business. His responsibilities included structuring commercial deals, evaluating strategic investments, and aligning financial outcomes with broader business objectives.

Hanu began his career as a Software Engineer at Infosys before transitioning into finance and investing. He subsequently served as an Investment Analyst at Transamerica, covering the Technology sector and macroeconomic trends.
He holds an MBA from the University of Iowa and a bachelor's degree in engineering from the University of Mumbai and is based in the London area.
Kelly Mahon Tullier – (Non-Executive Director - Alternate) - Vice Chair, Chief People and Corporate Affairs Officer and Corporate Secretary, Visa Inc
Kelly Mahon Tullier is vice chair, chief people and corporate affairs officer of Visa and Visa corporate secretary. In her role, Ms. Mahon Tullier has responsibility for driving Visa’s purpose to uplift everyone, everywhere, by being the best way to pay and be paid. Visa powers the digital economy, making payments and money movement simpler, safer, faster and more accessible for all, and drives economic growth and prosperity for individuals, communities and businesses around the world.

In her role, Ms. Mahon Tullier manages Board engagement and leads Visa’s people, communications, government affairs, social impact & sustainability, transformation and corporate services functions, including real estate, aviation, security and global events. She has also assumed leadership of Visa Foundation as chair. Ms. Mahon Tullier is responsible for fostering a company culture that prioritizes impact, growth and inclusivity to attract and retain top talent, creating a safe and engaging physical environment and advancing Visa’s advocacy and external reputational initiatives.

Previously, Ms. Mahon Tullier served as general counsel of Visa, leading the company’s legal and compliance function. In that role, she was a key negotiator of Visa’s $23 billion acquisition of Visa Europe and has led the Company through a variety of complex legal, regulatory and compliance matters globally.

Prior to joining Visa, Ms. Mahon Tullier spent almost 20 years at PepsiCo, Inc. serving in senior roles globally, including senior vice president and deputy general counsel, as well as senior vice president and general counsel for PepsiCo's Asia Pacific, Middle East and Africa division, based in Dubai.

Ms. Mahon Tullier was also vice president and general counsel for Frito-Lay, Inc. Earlier in her career, she was an associate at Baker Botts LLP and also served as a law clerk for the Honorable Sidney A. Fitzwater, U.S. District Court, Northern District of Texas.

Ms. Mahon Tullier serves on the Cornell Law School Advisory Council, the Corporate Advisory Committee of the National Legal Aid & Defender Association, the board of directors for the US-India Strategic Partnership Forum and the board of trustees for Children’s Aid. She also has served as a director on the boards of the Tahirih Justice Center, International Institute for Conflict Prevention and Resolution and the National Women’s Law Center.

Ms. Mahon Tullier received her bachelor’s degree from Louisiana State University and her juris doctorate, magna cum laude, from Cornell Law School.

The European Commission announced new regulations designed to safeguard consumer financial data. New regulations require an additional security step for some online purchases. More purchases will require the added layer of security known as two-factor authentication for consumers to confirm their identity.

Smiling, casual man with beard, working with pencil, paper and laptop

Self-assessment

In November 2025, Visa Europe published its updated self-assessment against the Principles for Financial Market Infrastructures (PFMI). The point of the assessment is 5 November 2025.

The PFMIs are internationally agreed standards published by the Committee on Payments and Market Infrastructures (CPMI) and the International Organisation of Securities Commissions (IOSCO) in April 2012. They are a part of a set of standards that the international community considers essential to strengthening and preserving financial stability.

Visa Europe as a Recognised Payment System has undertaken the self-assessment against the principles that apply to payment systems.

You can download a PDF version of the document here.

A closeup of a shopper using the Visa card on her phone to make a contactless payment at a terminal.

Visa Rules

Visa Europe Operating Regulations

The previously published broad Visa Europe Operating Regulations have been retired. The new public version of the Visa Core Rules and Visa Product and Service Rules (which relate to Scheme) can be downloaded here.

To request a copy of the rules relating to Processing, please email [email protected].

Helping people and businesses in our markets to prosper in a global economy.

As a trusted brand in payments, Visa has a tremendous opportunity and responsibility to use our business to connect the world— enabling economic growth and strengthening economies while also helping improve lives and create a better world.

UK Corporate Governance Report including Section 172 Statement

All large companies (including subsidiaries) have to publish a statement explaining how its directors have had regard to wider stakeholders when performing their duty under s172 of the Companies Act 2006. Visa applies high standards and best practice to corporate governance arrangements, complying with the regulatory governance requirements of our regulators.

Read Visa's Corporate Governance Report

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UK Modern Slavery Act Statement

Visa is committed to operating responsibly and establishing high ethical standards across our company. The U.K. Modern Slavery Act of 2015 requires companies carrying on business in the U.K. to publish a statement describing steps taken to ensure modern forms of slavery and human trafficking are not taking place in the company’s business operations and supply chains.

Read Visa’s Modern Slavery Act Transparency Statement

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UK Tax Strategy and EU Public Country-by-Country Reporting

Visa is a global payments technology company that enables fast, secure and reliable electronic payments across more than 200 countries and territories. We facilitate global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities.

Schedule 19, Finance Act 2016 requires Visa to set out the tax strategy of its UK companies and this is detailed below. This strategy covers all taxes and applies from the date of publication until it is superseded.

Read Visa’s UK Tax Strategy

Read Visa's EU public country-by-country reporting - Spain

UK Pension Schemes

The chair of the Trustee Directors of Visa Europe Pension Trustee Limited, Peter Gibbs, has provided two statements.

Read Visa Europe Pension Plan Chairman’s Statement

Read Visa Europe Pension Plan’s Implementation Statement

In addition, there is also a requirement to issue a Statement of Investment Principles for both of Visa’s pension schemes in the UK, which sets out the trustees’ investment strategy and their policy on environmental, social and corporate governance factors. Also, for the Visa UK Pension Plan, the trustees have produced a statement that sets out the actions they have undertaken to implement the stewardship policy in accordance with their SIP.

Read Visa Europe Pension Plan’s Statement of Investment Principles dated September 2025

Read Visa UK Pension Plan’s Statement of Investment Principles dated February 2026

Read Visa UK Pension Plan’s current Engagement Policy Implementation Statement

FSB Continuity of Access Questionnaire

The Financial Stability Board (FSB), an international organization that monitors and makes recommendations about the global financial system, published its Guidance on Continuity of Access to Financial Market Infrastructures (FMIs) for a Firm in Resolution on 6 July 2017.

This document provides guidance for FMIs, such as Visa, for maintaining critical function continuity in times of a serious incident.

In addition, the FSB also developed a questionnaire for FMIs to complete that provides information relevant to continuity of access support when clients require resolution.

Read Visa Europe Limited’s summary response to the FSB Continuity of Access Questionnaire here.

Visa believes that everyone has the right to be treated with dignity and respect in the workplace irrespective of race, nationality, ethnic origin, religion, belief, sex, sexual orientation, sexual identity including gender reassignment, pregnancy or maternity, age, disability, marriage and civil partnership, and/or any characteristics protected in any of our markets.

Gender Pay Reporting

In accordance with its legal obligations, the branch of VISA Europe Ltd. in France establishes and communicates since 2019 before March 1 of each year the score of the Gender Pay Gap index.

The Gender Pay Gap index corresponds to a government measure that came into force in 2019. This index, whose overall score can reach 100 points, aims to compare the situation of women to that of men in the company according to 4 or 5 indicators, depending on the company's headcount. Given our headcount, our assessment covers only 4 indicators.

Our score, obtained according to these 4 indicators, is detailed below:

The pay gap: 39/40 points;
The difference in the rate of individual increases: 35/35 points;
Increase after return from maternity leave: 15/15 points;
Parity between women and men among the 10 highest salaries: 5/10 points.

For the reference period from 1st January to 31st December 2025, we obtained an overall score of 94/100.

As a company we continue to strive to evolve and improve our policies which over time will drive continued improvement in our score and help us meet our client’s needs.

Please find here a link to our UK gender pay report

Veuillez cliquer ici pour la version en français

Women in Finance Charter

In our mission to be an inclusive and balanced organisation, Visa in Europe signed the Women in Finance Charter in 2018. The Charter reflects the UK government’s aspiration to see gender balance at all levels across financial services firms.

By signing the Charter Visa in Europe pledges to promote gender diversity by:

having one member of our senior executive team who is responsible and accountable for gender diversity and inclusion;
setting internal targets for gender diversity in our senior management;
publishing progress annually against these targets in reports on our website;
having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity.

As part of the Charter, Visa committed to the following three-year targets by September 2027.

A target of 37.5% of women in senior management.
A target of 45% of women across Europe.

As of 31 July 2025, 36.8% of our European Visa senior managers were women and 43.4% of our overall population were women across Europe.

Visa believes in empowering and advancing the careers of all talent, including women. We will continue to remain committed to driving gender diversity progress and meeting our goals, and continue to focus on recruitment, retention, engagement, development and career activities going forward.

From 9 June 2016 we are required to operate separated scheme and processing activities for our European business, to ensure compliance with European regulatory requirements under the IFR.

Under this arrangement, we will separately compete for scheme and processing business, while continuing to meet the changing demands of a global marketplace.

Our Code of Conduct thelps us understand our roles and responsibilities in the context of this structure, no matter which area of Visa we are part of. It helps ensure individual and organisational compliance as we continue to deliver new and exciting products and services quickly and at scale.

Visa partners with its customers in Europe – banks and payment providers – to enable payments and associated services. Our focus is on providing global, competitive and innovative solutions that meet the needs of our customers. This in turn brings tangible benefits to their customers - enabling merchants to grow their businesses and enabling consumers to pay where and when they choose, and on any device.

Visa Europe Limited (Visa) operates separate management bodies for the management of Scheme and Processing.

In line with its obligations under Article 16(1) of the Regulatory Technical Standard (Commission Delegated Regulation (EU) 2018/72) of 4 October 2017) (‘RTS’)¹ and without prejudice to the exemption of shared services referred to in Article 12 of the RTS, Visa has set out the following clear and objective criteria to ensure that the composition of its management bodies mitigates any conflicts of interest for the decision making process between Scheme and Processing:

Any Scheme and Processing management body is constituted with a defined mandate that ensures compliance with Visa’s Separation of Scheme and Processing Code of Conduct (including the protection of sensitive information and other conduct obligations to mitigate any conflicts of interest).
Members of the relevant management bodies of each of Scheme and Processing will at all times be subject to conflicts of interest policies

Any circumstances where directorships may be held by the same person at the same time in the management body of Scheme and Processing will be objectively justified and restricted to the minimum necessary to address a specific need or purpose. An example of circumstances where it may be necessary would be for regulatory, prudential or other risk based oversight.

1 onshored in the UK by the Technical Standards (Interchange Fee Regulation) (EU Exit) Instrument 2019

Visa Europe Board

Alison (Debbie) Hewitt MBE – Independent Non-Executive Chair

Antony Cahill – Chief Executive Officer, Europe

William (Bill) Sheedy – Non-Executive Director – Senior Advisor to Visa's Non-Executive Chair

Philippe Zoetelief Tromp – Independent Non-Executive Director, and Risk Committee Chair

Hamayou (Aki) Hussain – Independent Non-Executive Director, and Audit Committee Chair

Christopher (Chris) Clark – Non-Executive Director

Amélie Breitburd – Independent Non-Executive Director

Hanu Mehrotra – Chief Financial Officer, Europe

Kelly Mahon Tullier – (Non-Executive Director - Alternate) - Vice Chair, Chief People and Corporate Affairs Officer and Corporate Secretary, Visa Inc

Policy & Regulation