In an interview with the Wall Street Journal published earlier today, Senator Dodd tells the Wall Street Journal that “[the ‘interchange’ proposal dealing with credit and debit card fees paid by retailers] is maybe one where the Fed is overreaching.”
The collective attention of the entire payment industry is focused on Washington, D.C., this afternoon, as the Federal Reserve Board hosts a meeting to discuss proposed rules governing debit card interchange fees and routing.
We have received the initial recommendations of the Federal Reserve related to the debit card regulation provisions of the Dodd-Frank Act. At this point, Visa is still reviewing the specific elements of the recommendations.
As the world’s largest retail electronic payments network, Visa understands how important it is to protect cardholder information and ensure that cardholders feel complete confidence wherever and whenever they use their Visa card.
Ellen Richey, Visa’s Chief Enterprise Risk Officer, recently offered her analysis on how security has—and will continue to evolve—in order to combat fraud. While current security measures including personal identification numbers (PINs) have had success, protecting this technology is an ongoing effort:
Just in time for the final days of holiday shopping, Visa today launched the Visa Mobile iPhone application, providing consumers exclusive merchant coupons and offers direct to their Apple iPhone. The application, which can be downloaded free from the iTunes app store, gives Visa account holders access to more than 50 unique merchant offers and can be tailored to consumers’ lifestyles and preferences. Account holders with Visa Signature cards can receive special Visa Signature offers in addition to standard offers.
As we work constantly to deliver better ways to pay and be paid, Visa is investing in new eCommerce services to ensure shopping online remains vibrant, convenient and secure. This philosophy is what led to the development of Rightcliq. Leveraging Visa’s 50 years of payment experience, Rightcliq addresses shoppers’ needs before, during and after checkout, creating a smart and hassle-free experience for consumers.
Today, Rightcliq by Visa was featured on “The Ellen DeGeneres Show” as part of her annual 12 Days of Giveaways. Ellen points to Rightcliq as an online shopping tool that helps shoppers collect, organize and compare items they’ve found while shopping online – all in one place. Members of Ellen’s audience received $200 Visa Gift Cards to try Rightcliq themselves this holiday season. Click on the image below to view the Rightcliq segment on Ellen.
The end of the year is a time for travel— taking advantage of year-end school breaks, seeking out warmer climates and ringing in the New Year in new and exciting destinations. Nowhere is this more apparent than in Asia, where international destinations, in many cases, are a short, economical flight away.
Tourism is a key revenue source that fuels the world’s economy. As one of the world’s leading payment brands, Visa is both a key channel in delivering tourism revenues and an arbiter of global tourism trends.
Ross Jackson, Visa’s Head of Cross-Border Business for Visa in the Asia Pacific, talks about some of the travel trends he is seeing today.
Following 18 months of technology development and successful pilot programs with leading financial institutions across the globe, Visa today announced the commercial availability of its mobile contactless payment solution. In what Bill Gajda, head of Visa Mobile, calls a “historic milestone,” issuers can now offer account holders the technology to transform their existing mobile phones into fully functional payment devices.
We recently announced a 12 percent increase in Visa payments volume to US$800 billion in the Asia Pacific region for the year, ending on September 30, 2010.
Elizabeth Buse, Group Executive, International, Visa Inc. said: “These figures suggest strong economic recovery across Asia Pacific as well as the continued shift by consumers from cash to electronic forms of payment, such as credit, debit and prepaid cards.
The 2010 online holiday shopping season is shaping up to be one of the best. Forbes.com reported that Cyber Monday may have been the heaviest online spending day in history with a record-breaking $1 billion in online spending, according to comScore. This data also reflected a nearly 16% year-over-year increase in spending, as well as the first time in history that over $1 billion was spent online in a single day.