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Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories, enabling them to use digital currency instead of cash and checks. Their business primarily consists of the following –

1. They provide transaction-based services to their financial institution and merchant customers through VisaNet, their secure, centralized and global processing platform. In addition, They provide value-added services, including risk management, fraud protection, loyalty, dispute management and debit issuer processing.

2. They offer a diverse range of branded payment products, which their financial institution clients use to offer credit, debit, prepaid and cash-access programs to their customers that are individuals, businesses and government entities.

3. They own and manage the Visa brand, which provides the assurance of acceptance at millions of merchant outlets and 1.6 million ATMs in more than 200 countries and territories worldwide.

4. They continually look at how They can use their network breadth and payment expertise to extend the value of electronic payments so that more people can use Visa in more ways and more places around the world. For example, with the Visa mobile platform, They are helping accelerate the convergence of mobile technology and electronic payments.

Visa does not issue cards, extend credit or set rates and fees for consumers. Cardholder relationships belong to their network of financial institution clients and are managed by them. Visa Inc. derives revenue primarily from fees paid by their financial institution clients based on payments volume, transactions that They process and other related services They provide. Visa’s innovations enable its bank customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products.

Products

Visa provides individuals, businesses and governments with access to the world’s largest retail electronic payments network through a range of Visa-branded products and services that deliver choice, convenience and security.

1. Credit – Visa offers their financial institution clients a broad range of credit platforms that can be tailored to meet the needs of virtually all demographic segments around the world from those new to credit to affluent consumers to large corporations. Visa’s credit platforms are accompanied by value-added services that can enhance consumers’ loyalty and usage. These include tailored rewards, emergency card replacement, travel assistance and rental car insurance.

2. Debit and Prepaid – Visa provides clients with a range of consumer debit products tailored to individual demographic segments and geographies. Visa debit products allow consumers to pay electronically by using available funds and deliver advantages over cash and checks in terms of convenience, security and flexibility. Visa offers of their branded debit marks: Visa, Visa Electron, Interlink and PLUS. Visa also offers a broad range of prepaid products that enable consumers to access a designated pool of funds.

Visa prepaid solutions can be offered to financially undeserved consumers who have no preexisting banking relationships as a more secure and convenient alternative to cash and checks. Visa prepaid products are offered currently by governments and businesses for the distribution of healthcare funds, unemployment assistance, payroll and other benefits. Visa also offers prepaid gift cards that can be used at any Visa merchant outlet that accepts Visa debit products.

3. Commercial – Visa provides a broad suite of commercial payment solutions for small businesses, midsize and large corporations, and governments. Visa’s commercial platforms include –

a. Small Businesses – Visa Business credit, Visa Business debit and Visa Business line of credit access cards.

b. Midsize Businesses, Large Corporations and Governments – Visa Corporate, Visa Purchasing, Visa Commercial, Visa Meetings, Visa Fleet and Visa Distribution as Theyll as B2B and supply chain management products and services. In addition to these platforms, Visa has tailored solutions to meet the specific requirements of businesses and government agencies of all sizes in individual regions.

Security

Visa understands that They must protect each link within their control and work with others to preserve the trust in every Visa payment. To that end, Visa employs multiple layers of security. These layers work together to help ensure that fraud is identified as soon as it occurs and that, when fraud does occur, its impact is quickly neutralized or limited to the extent possible. Visa’s security strategy focuses on –

a. Securing the payments environment to protect card data.
b. Monitoring, identifying and preventing fraud through technology and best practices.
c. Managing the impact of fraud by helping issuers and acquirers recover from its effects. d. Maintaining trust in Visa payments through merchant and consumer education.
e. Creating an environment of partnership by promoting industry engagement and accountability around security.

Innovation

Visa is committed to innovation that enables more people in more places to enjoy the benefits of electronic payments at any time, in any location, using a multitude of devices. Recent innovations pioneered by Visa include –

1. Money Transfer – Visa Money Transfer is a person-to-person payment platform that enables the transfer of funds from account to account securely and quickly using the Visa network.

2. Chip Technology – In a number of regions, Visa supports the deployment of chip technology, whether EMV contact chip or contact less Visa payWave. Chip cards have a small, poTheyrful embedded microprocessor that can provide enhanced security and increased transaction speed. This chip can also carry other applications that enhance the consumer payment experience such as merchant loyalty programs. Chip card technology can also expand the use of Visa payments to new acceptance environments such as transit, vending and parking.

3. Mobile Payments and Services – As the number of mobile devices continues to grow, Visa is working to extend its products and services through the mobile channel. In developing economies where phone penetration is significantly higher than bankcard penetration, mobile technology represents an opportunity to leapfrog a generation of financial services and payment products, allowing consumers to use a mobile device to access and transfer funds, make payments, pay bills or top-up wireless air time. In developed economies, Visa has an opportunity to deliver mobile services that enhance the consumer payment experience, including merchant offers that are tailored to consumers’ lifestyles and locations, transaction alerts and mobile payments at the point of sale and on-the-go.

4. eCommerce – Visa is one of the most widely accepted payment brands online. Visa protects online transactions through multiple layers of security, including Verified by Visa, allowing issuers to authenticate cardholders in online transactions.