Organization struinscture of Visa

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Orenburg state institute of management

Organization structure of Visa

Mede by: student of MO – 24 group

Utkin Ilya Alexandrovich

Orenburg, 2005


Corporate profile

Executive Management





Effective Oversight

The History of Visa

From Inspiration to Organization: The beginnings of Visa

Years of Change: Shaping the industry

Today and Tomorrow: Growth and technology

Corporate profile

Visa connects cardholders, merchants and financial institutions through
the world’s largest electronic payments network. Visa products allow
buyers and sellers to conduct commerce with ease and confidence in both
the physical and virtual worlds. As an association owned by 21,000
member financial institutions, Visa is committed to the sustained growth
of electronic payment systems to support the needs of all stakeholders
and to drive economic growth. There are 1.3 billion Visa cards in
circulation, which are accepted at approximately 24 million locations,
generating more than $3 trillion in annual card sales volume.

Wide spectrum of Visa’s products and services include credit, debit, and
prepaid payment solutions, as well as programs and initiatives designed
specifically for commercial and government enterprises. We also develop
common standards and specifications to facilitate commerce and provide
our member financial institutions with global payment platform
development, 24/7 operation of the world’s largest and most
sophisticated payment processing system, and management of the Visa

Executive Management

Each member of Visa’s Executive Management team brings a wealth of
experience in financial services and payment systems management. They
share a vision of empowering people and institutions to more efficiently
and conveniently conduct commerce.

Christopher Rodrigues

President and Chief Executive Officer, Visa International

Rupert G. Keeley

President, Visa Asia Pacific

Derek A. Fry

President, Visa Canada

Anne L. Cobb

President, Visa Central & Eastern Europe, Middle East & Africa

Johannes (Hans) I. van der Velde

President, Visa Europe

Eduardo Eraсa

Group Executive, Visa Latin America & Carribbean

John Philip Coghlan

President and Chief Executive Officer, Visa USA


The cornerstone of Visa’s success is a unique organizational structure.
Partnerships with 21,000 financial institutions enable Visa to meet the
needs of local markets and to balance various financial, regulatory and
legal factors. All participants benefit from economies of scale. Visa
provides a robust payment platform on which our members compete

This strategy of “localization” is supported by a highly decentralized
organization. Most resources and decision-making are pushed out to the
regional and country operations which adapt Visa products and services
to the culture and customs, thereby meeting the unique needs of buyers
and sellers in each market.

In short, Visa is not a traditional multi-national corporation. By
empowering staff that understand the banks, consumers and merchants in
their markets, Visa has grown its business 22% for the past 25 years—a
track record matched by few other global businesses.

Operationally, Visa is divided into six regional entities and a
corporate headquarters. The Visa regions are:

· Visa Asia Pacific Region

· Visa Canada

· Visa Central & Eastern Europe, Middle East & Africa Region

· Visa Europe

· Visa Latin America & Caribbean Region

· Visa USA

The activities of all Visa members are governed by a set of global
operating regulations. The interoperability, stability and growth of the
worldwide enterprise is facilitated by a core group of centralized
functions which develop product platforms, manage the Visa brand,
monitor global risks and ensure implementation of technical standards.

The Visa organization derives its strength from this dynamic balance
between local and global—for none of the parties involved would be as
effective without the others. This highly elastic, distributed regional
structure has been a key element of Visa’s growth and will continue to
deliver the flexibility and responsiveness that the highly competitive
market demands.


Openness, responsibility and effective oversight are the foundation of
Visa’s commitment to good corporate governance. These principals are
critical to obtaining and retaining the trust of our members, merchants
and cardholders. They are also vital to secure the respect and trust
from other key stakeholders and interested parties—including employees,
customers, suppliers, government officials and the public at large.


Visa is committed to increase understanding among all stakeholders about
the role Visa plays in the electronic payments industry, our goals and
what we do. Although it is a non-stock membership organization,
initiatives like the first Worldwide Association report, are a
demonstration of our commitment to increased transparency. Moreover, our
governance and financial management practices are generally aligned with
the best business practices of publicly traded organizations.


Beyond our responsibilities to our members and to our employees, Visa
recognizes that it can play a constructive role in the broader global
community. As the use of electronic payments expands, Visa is committed
to both developing products and services for underserved segments in
society and working to ensure that consumers in all markets know how to
use Visa products responsibly. For example, “Practical Money Skills,” a
financial literacy program, operates in the United States, Canada, Asia
and Latin America.

Effective Oversight

The activities of all Visa members are governed by a set of global
operating regulations. Although the “Visa” name is the property of Visa
International Service Association, the global Visa organization is
actually a collection of legal entities. Three regions (Visa U.S.A.,
Inc, Visa Canada Association and Visa Europe Ltd.) are separately
incorporated group members of Visa International Service Association,
whereas the remaining three regions (Visa Asia Pacific, Visa LAC and
Visa CEMEA) are unincorporated divisions of Visa International Service
Association. To enable efficient day-to-day management, these six
regions (and Visa International Service Association itself) each have a
president, an executive team and a Board of Directors.

Each region’s representation on the Visa International board is based in
large part on its share of Visa’s worldwide sales volume. Regions
nominate individuals from their regional boards, and these regional
directors, plus the Visa International CEO, comprise the Visa
International Board. The Visa International board is responsible for the
oversight of the worldwide interests of the association and ensuring it
operates to the highest ethical standards.

The History of Visa

The history of Visa is the history of the electronic payments industry
itself. Led by people of vision and determination, Visa has long
recognized that electronic payments have had a profound and positive
effect on individuals, businesses, and economies.

Like other powerful ideas of the past 100 years—the airplane,
television, computers—Visa has changed the way we live our lives.

From Inspiration to Organization: The beginnings of Visa

When Bank of America launched its pioneering BankAmericard program in
Fresno, California, in 1958, the modern payment era was born.

A decade later, the program took a major step forward when Dee Hock,
then one of the leaders of a group of BankAmericard licensee banks,
proposed that the banks form an association; a joint venture that would
allow Members to enjoy the benefits of a centralized payments system,
while competing fairly for their own interests. Dee Hock became the new
group’s first president.

By the time Bank of America transferred control and ownership of
BankAmericard to the newly incorporated NBI (National BankAmericard,
Inc.) in 1970, credit card use was beginning to have a significant
impact on how people bought and sold services.

In 1976, NBI changed the BankAmericard name to Visa, a simple, memorable
name that is pronounced the same way in every language.

Years of Change: Shaping the industry

The point-of-sale model—using a physical card at a physical merchant in
a face-to-face transaction—began to change in the 1980s with the rise of
mail and telephone order transactions, where the merchant didn’t have to
see the actual card.

In 1986, Visa began an affiliation with the PLUS ATM network, opening
the way for cardholders to get easy access to cash. As the decade
closed, more and more banks had started to issue debit cards, providing
bank account holders with direct access to their money.

The 1990s were characterized by the technological revolution, which
dramatically changed the direction of the payments industry. As
technology and the Internet evolved, so did the thinking of the
traditional financial institution.

During this time, Visa recognized the potential for technology to
connect every consumer, merchant, service provider, and financial
institution in the world so that payments could truly be made anywhere,
anytime and through any device.

Today and Tomorrow: Growth and technology

At the dawn of the new century, still new technologies are emerging—such
as contactless chip and proximity payments, which enable yet another
means of value exchange. These technologies open up a huge number of
potential access points for payment cards.

With these new payment options for individuals, businesses, and
government organizations, commerce truly becomes ubiquitous. Now, a
consumer or businessperson can buy goods or services at a moment’s
notice through any device, and is not limited by geographic boundaries.

As we move forward in the new century, Visa is committed to developing
solutions that meet specific market demands, seize opportunities in high
growth areas such as debit, prepaid, and commercial, and work
collaboratively with a variety of technology, business, and industry
partners to build a globally secure and connected infrastructure.

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