Viewpoints

Visa’s Blog – Visa Viewpoints

PERSPECTIVES ON DIGITAL CURRENCY

May 16, 2013

Uncategorized

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.

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

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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.

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

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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.

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

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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.

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Here’s a peek inside the hackathon:

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

Category: Conferences and Events, Developer, Security, Technology & Innovation, Uncategorized
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Mar 15, 2013

Guest Blog: President Clinton Helps Launch 4th Kiva City in Little Rock

Visa partners with many organizations, companies and governments as part of our shared goal of reaching full financial inclusion globally by 2020. One of those organizations is Kiva.org, a nonprofit working to alleviate poverty by connecting people around the world through microlending. In 2010, we announced a partnership with Kiva to help more U.S. small businesses tap into microfinance, in part through launching Kiva City in areas of the country where small business is struggling in the economic recovery. Today, we invited Kiva President Premal Shah to share the news of the launch of the latest Kiva City, in Little Rock, Arkansas.

Guest post by Premal Shah, President, Kiva.org

Today, I look forward to standing alongside President Clinton, Visa and Accion Texas to announce the launch of Kiva City Little Rock, an initiative to help more small business owners in Arkansas get access to the financial tools they need to create jobs and a better life for themselves and their communities. As we enter the third year of the partnership between Kiva and Visa, I am thrilled to announce that this is the fourth Kiva City we’ve launched together as a part of our CGI Commitment to Action. Kiva City Little Rock joins initiatives already underway in Detroit, Los Angeles and New Orleans.

In the words of President Clinton, “Successful small business owners in Little Rock and across the country have the power to accelerate job growth and economic opportunity for all of us. They have the plan and the passion; and this Commitment to Action will provide the much-needed capital to start or expand.”

Kiva City Little Rock provides access to capital for small business owners and budding entrepreneurs by crowdfunding loans on kiva.org/littlerock – often $25 at a time – that add up to job creation and economic growth.

The initiative is a collaboration between Kiva, Visa, Accion Texas, and nonprofit organizations in Little Rock working as Kiva Zip Trustees. Accion Texas works to identify small businesses in the Little Rock area that would benefit from a loan and then posts their profiles on Kiva.org for crowdsourced funding opportunities. The real power of Kiva City comes from local people with local solutions for growing new businesses.

In the Little Rock region, there are more than 69,000 small businesses that employ nearly 330,000 people. Through Kiva City, anyone with an Internet connection has a chance to help support local small businesses. Every dollar lent helps create jobs in the community, in turn supporting another local business, and then another. As small businesses grow and expand, local economies start to improve, then take off.

Both Kiva and Visa share the belief that small businesses and the entrepreneurs behind them are the engines of economic prosperity – and that’s what makes our partnership so effective.

For more information on Kiva City Little Rock or to lend to a small business owner, visit Kiva.org/littlerock

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Posted by: Douglas Sabo, Visa Corporate Responsibility on March 15, 2013 at 3:39 pm

Category: Financial Inclusion, Uncategorized
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Mar 7, 2013

SBA and Visa Business Video Contest: Share Your Export Small Biz Story and you could win $10,000

Each year, businesses across the U.S. produce goods and provide services that are in high demand – in the U.S. and across our borders. In fact, according to an article currently posted on the U.S. Small Business Administration website, 97 percent of all exporters are small businesses.

To celebrate small business success in international exporting, and to increase awareness of government assistance available for small business exporters, the Office of International Trade at the SBA and Visa Business invite small businesses to share their export story via a three minute video. The winning video, in accordance with the Official Rules, will be awarded $10,000.

The contest opened February 25 and runs through April 22*. Details on the video challenge can be found at http://exportvideo.challenge.gov/.

All eligible videos will be scored by a panel assembled by the SBA and will select five winning videos from each of the following categories:

  • Manufacturing
  • Consumer products
  • Professional services
  • Technology
  • Agribusiness

Winners will be awarded cash to help with their business, and could receive an additional $1,000 for travel reimbursement and hotel to participate in the awards ceremony in may in Denver, CO.

  • 1st Place: $10,000
  • 2nd Place: $8,000
  • 3rd Place: $6,000
  • 4th Place: $4,000
  • 5th Place: $2,000

Check out the 2011 winning video!

*The video submission deadline has been extended. The new deadline is April 22nd by 5:00 p.m. EDT. Visit http://exportvideo.challenge.gov/ for more information, to see the Official Rules and to enter to win.

Ready, set, GO!

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Posted by: Janet Zablock, Head of Global Small Business, Visa Inc. on March 7, 2013 at 2:41 pm

Category: Small Business, Uncategorized
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Mar 6, 2013

New World Economic Forum Report Underscores the Importance of Data Collection and Use in Context

Last week the World Economic Forum release a report called, “Unlocking the Value of Personal Data: From Collection to Usage.” As part of the Forum’s steering board on personal data, I was able to contribute to the report, which explores the importance of unlocking the value of data in a way that preserves the trust of all stakeholders.

One important theme in the report is the value of managing consumer expectations through context setting. What that means is the use of personal data should be understandable when compared to what is being shared and why. Most consumers don’t need or want every detail of every data flow. What they are ultimately looking for is clear benefits from use of their data. For that they need context.

At Visa we understand the importance of context. In the Visa system, for example, consumers are delighted when analytics are used to identify attempted fraud on their accounts. I have repeatedly heard from consumers who applaud us for working with their bank to flag a suspicious purchase. It makes them feel safer. It is only possible if we use their own shopping behavior to look for patterns. But this data use is expected — and welcomed — by consumers because they understand the context.  And they support its purpose.

As companies explore new ways to use data and the opportunities and responsibilities that come with them, they need to keep the importance of context and consumer expectations in mind. When consumers understand the context, they feel a sense of transparency and control. With context, there is trust. And with trust, there is opportunity.

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Posted by: Ellen Richey, Chief Enterprise Risk Officer on March 6, 2013 at 4:02 pm

Category: Privacy, Security, Uncategorized
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Mar 6, 2013

A Proud Day: Visa Named One of the World’s Most Ethical Companies

Visa runs the world’s largest retail electronic payments network, but our business isn’t just about technology – it’s about trust. We need to earn the trust of everyone we partner with and serve, every single day, in order to succeed.

That’s why being named to the 2013 list of the World’s Most Ethical Companies by Ethisphere Institute is such an important honor for us. It reflects our commitment to the highest ethical standards in everything we do – not just what we say, but what we actually do – as well as our determination to live up to the trust that people all over the world put in our brand.

A leading international think tank, the Ethisphere Institute is dedicated to promoting best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. As Ethisphere explains, companies that receive the World’s Most Ethical Companies designation “truly go beyond making statements about doing business ‘ethically’ and translate those words into action.”

Visa takes a comprehensive approach to ethical business practices, including industry-leading policies, trainings and programs. Visa also has a Corporate Responsibility program focused on responsible business practices and community involvement, and areas where our business expertise and philanthropic contributions can contribute to financial inclusion and improving humanitarian aid.

Joining this global list of companies dedicated to doing business with world-class ethical practices is, to us, a sign that we are on the right track.

View the complete World’s Most Ethical Companies 2013 list here.

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Posted by: Ellen Richey, Chief Enterprise Risk Officer on March 6, 2013 at 6:39 am

Category: Corporate Responsibility, Uncategorized
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Feb 27, 2013

A Dollar a Day, Slowly Frittered Away

Keeping track of cash can be a hassle, especially with today’s busy – and increasingly globe-trotting – lifestyle. In fact, the recent Visa Payment Attitudes Study has revealed that we lose on average US$365 each year by using cash instead of cards. If you worked from 20 years old until you were 65 and lost that much every year, it would amount to a whopping US$16,425!

This consists of US$80 worth of idle change just lying around the home, car or office, and US$285 worth of unused foreign currency lost after trips abroad. This seemingly small amount, that averages a dollar a day, is actually equivalent to the cost of 6.5 grams of gold or supporting a family of four in Bangladesh for a year!

The study also revealed that keeping tabs on our hard-earned money and worrying about carrying cash around is a concern for us too. The majority of respondents (54 percent) said the key reason they have a debit card is because it is more convenient to carry around, rather than being weighed down by a large amount of cash. They also like debit because you can use it to make online purchases (45 percent) and to keep their finances in check, with over half (53 percent) saying it is good for smart financial management because the payment is debited directly from their regular bank account.

We’ve long known that carrying cash can be inconvenient and unreliable, and now this research proves that we are out of pocket by using cash too! See the infographic below for a breakdown of the results and which countries are losing out on the most by sticking to cash…

 For more on the study visit
 

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Posted by: Jag Mistry, Corporate Relations, Visa Inc. on February 27, 2013 at 6:35 am

Category: Benefits of Digital Currency, Surveys, Studies & Research, Uncategorized
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Feb 26, 2013

Voices of Inclusion at #MWC13

In series of conversations launching at Mobile World Congress, Visa’s Head of Corporate Responsibility Douglas Sabo interviews thought leaders from the public, private and NGO sectors about the impact mobile services are having on financial inclusion efforts around the world.

Douglas Sabo, Head of Corporate Responsibility, Visa

Dr. Maura O’Neill, Chief Innovation Officer, USAID

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Posted by: Douglas Sabo, Visa Corporate Responsibility on February 26, 2013 at 1:05 pm

Category: Financial Inclusion, Mobile, Uncategorized
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