Visa announced the appointment of Cristina Doros as Visa Country Manager for Caucasus Region
Kyiv, Ukraine – July 4, 2019 - Visa today announced the appointment of Cristina Doros as Visa Country Manager for Caucasus region. In her new role, Cristina Doros will focus on growing the electronic payments business in Caucasus region by increasing Visa’s footprint in these markets, and enhancing value it provides to banks, merchants, and cardholders.
“We are excited to announce the appointment of Cristina Doros to the position of Country Manager of Caucasus. With proven management and leadership skills, an in-depth knowledge of payments and a strong understanding of the regional business, I am confident that Cristina will lead the business to greater heights reflecting the importance we place on the countries of Caucasus region,” said Vira Platonova, SVP, Group Country Manager for Visa CISSEE.
Cristina Doros brings more than 20 years of experience in retail banking, information technology, innovations, cards and mobile payments. Since 2016, Cristina joined Visa to lead the regional Core Products team, and has been acting Vice-President, head of Solutions, Visa CISSEE since 2019 overseeing Core products (Debit, Credit and Premium), Loyalty platform development, Digital Solutions and Push Payments, all foundational for the proliferation of electronic payments. Remarkable milestones of Cristina’s professional successes include enhancement of Premium benefits, launch of Loyalty program in Ukraine and Belarus, contribution to launching Tap to Phone SME technology, etc.
“After my fascinating experience as a head of Visa CISSEE Products team, I am thrilled to lead Visa business in the Caucasus region. This is an exciting and challenging opportunity to bring more innovations and benefits to our clients and partners and to strengthen our presence in the market, shaping the future of payments and driving innovations across the region.”- CristinaDoros said.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.
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Revolut Chooses Visa as Lead Issuing Partner to Drive Rapid Global Expansion
Visa and Revolut expand successful partnership in Europe, adding 24 new markets globally to deliver more consumer choice and flexibility in personal finance management
SAN FRANCISCO & LONDON – September 30, 2019 — Visa (NYSE:V) and Revolut, the leading fintech in Europe, today announced a new agreement that will help Revolut expand its business globally. Leveraging Visa’s brand, scale and global acceptance footprint, Revolut will be able to bring its product offerings to five new regions, reaching 24 new markets, for a total of 56 markets globally. Under the terms of the agreement, Revolut will primarily issue Visa-branded cards in the global expansion.
Revolut offers consumers a range of digital financial services via a mobile application, including currency exchange, budgeting and person-to-person (P2P) payments, all linked to a Visa card. Building on the success of its existing agreement in Europe, Visa will enable Revolut to launch initially in Australia, Brazil, Canada, Japan, New Zealand, Russia, Singapore andthe United States, followed by Argentina, Chile, Colombia, Hong Kong, India, Indonesia, Korea, Malaysia, Mexico, Philippines, Saudi Arabia, South Africa, Taiwan, Thailand, Ukraine and Vietnam.
“We are excited to build upon our existing collaboration with Visa, the world’s leader in digital payments, which will bring to life our shared vision for seamless, innovative payment experiences,” said Nikolay Storonsky, founder and chief executive officer, Revolut. “The new global agreement with Visa is timely for Revolut as we move into a number of new markets to offer even more consumers the control, flexibility and innovative features that our European customers have been benefiting from for years.”
“Revolut has made great strides in delivering innovative and unique experiences to consumers in Europe. We are thrilled to extend our relationship as Revolut looks to achieve their global growth ambitions and collectively drive increased volume on the Visa network,” said Jack Forestell, chief product officer, Visa. “With Visa being accepted at nearly 54 million merchant locations across more than 200 countries, we have the scale, experience and expertise to help fintechs like Revolut go global.”
Visa and Revolut have built a strong partnership over the last four years. The digital banking alternative first began issuing Visa cards to its customers across Europe in July 2017. Since that time, Revolut has been able to leverage Visa’s global network and capabilities to help drive their rapid global expansion, including issuing Visa-branded cards in every major European market today.
Over the last four years, Revolut has been at the forefront of global financial innovation. In an effort to enable consumers to better manage their money digitally, Revolut and Visa will allow for:
- Flexible, Customized and Seamless Banking Services: Revolut customers can receive instant spending notifications, monthly spending breakouts and budgets by individual categories. The option to complement the existing Revolut app with Visa APIs, including Visa Token Service and Payments Attribute Account Inquiry, and Visa prepaid and debit cards, will offer the security and speed consumers expect when they use their Visa.
- Seamless, Low Cost Currency Exchange: As one of the most affordable options, Revolut customers can spend globally in over 150 currencies and hold and exchange up to 29 currencies and cryptocurrencies - including bitcoin, the Canadian Dollar, U.S Dollar, Mexican Peso, British Pounds and Euros - directly in the app using the interbank exchange rate.
- P2P Payments: With the tap of a button, consumers can instantly send and request money for free and split the bill at restaurants and bars with any Revolut customer globally.
The Visa and Revolut global deal builds on Visa’s long-term commitment to fintechs and bolsters the company’s strategic business priorities, including:
- Visa Direct, Visa’s platform that enables faster payments to over a billion financial accounts worldwide
- Visa’s suite of B2B payments solutions for small and medium businesses and global enterprises
- Visa’s ongoing commitment to bringing digital payment options to the unbanked via social impact programs
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
Revolut was launched in July 2015 by former Credit Suisse and Deutsche Bank investment bankers, Nik Storonsky and Vlad Yatsenko, as a digital alternative to the big banks. While the fintech initially drew in customers by letting them spend and transfer money abroad with the interbank exchange rate, the company has since attracted over 7 million customers in Europe with its spending overviews, budgeting controls, savings features and cryptocurrency exchange.
To date, Revolut has raised approximately $340 million in investments, from notable venture capital firms including Index Ventures, Ribbit Capital, Balderton Capital and DST Global.
Changing the Game: Visa Sets Sights on a “Cashless Japan” with One Year to Go to the Olympic Games Tokyo 2020
Visa and its partners build a digital legacy for Japan and help to accelerate economic growth
SAN FRANCISCO and TOKYO – July 25, 2019 – With one year to go until the Olympic Games Tokyo 2020, Visa (NYSE: V), the Worldwide Payment Technology Partner of the Olympic Games, is preparing innovative payment experiences for athletes, visitors and citizens in support of the government’s “Cashless Japan” imperative to double the total of payments made digitally to 40 percent by 2025. With the Olympic Games Tokyo 2020 expected to be the most innovative Olympic and Paralympic Games yet, Visa is in a unique position to help the Games become a catalyst for delivering the best in digital payments to Japan.
“There is virtually no other market in the world today that compares to Japan – it is the world’s third largest economy and a leader across many industries, yet commerce remains predominantly cash-based,” said Stephen Karpin, Representative Director & Country Manager of Japan, Visa. “Visa embraces the Olympic Games as an opportunity to offer cutting-edge payment technologies at venues and the Olympic Village, and throughout the host country to truly enhance the fan experience. For Tokyo 2020, we are planning experiences that will leave a lasting impact on the country, with the goal of helping accelerate economic growth, while providing the Japanese community and visitors with a ‘wow’ experience on-the-ground.”
Supporting the Road to a ‘Cashless Japan’
Today, only about one-fifth of all payments in Japan use digital methods compared with around 90% in South Korea and roughly 60% in the U.S and 70% in China. With 40 million visitors expected to arrive in Japan next year, Visa has a range of initiatives underway to ensure the best possible commerce and payments experiences, including:
- Growing Digital Payment Acceptance: To address the current prevalence of cash, Visa is working closely with merchants in a wide range of business categories, including Quick Service Restaurants (QSR), transit and convenience stores, to upgrade and enable contactless point-of-sale (POS) and to drive adoption for digital payments prior to the start of Tokyo 2020.
- Team Visa for Cashless Japan: Since 2000, Visa has supported Team Visa, a diverse roster of global athletes who compete in a wide range of events, representing the brand on-and-off the field of competition. Team Visa athlete and Japanese Olympic hopeful in the newly added sport of surfing Kanoa Igarashi is “riding the cashless wave” in Visa’s marketing campaign, already live in Japan. Throughout the year, Visa will continue expanding the Team Visa roster, highlighting Olympic and Paralympic hopefuls and promoting the use of digital payments.
- Building a Partner Ecosystem: As the world’s leader in digital payments, Visa drives innovation to its 3.4 billion accountholders through a wide group of financial services, merchant, technology and fintech partners. To further grow its network in Japan, Visa has launched Visa Fintech Fastrack to make it quicker and easier for fintechs to build and deliver new digital commerce experiences on Visa’s payments network. Visa has also recently partnered with LINE Pay Corporation, operator of digital wallet and fintech services on the LINE messaging app to encourage digital payment adoption.
- Games-time Innovations: As the exclusive payment technology sponsor, Visa is in a unique position to bring cutting-edge payment technologies to every Olympic Games, often trialing technology not yet commercially available. At the Rio 2016 Olympic Games, Visa offered a payment-enabled ring to its Team Visa athletes. At the PyeongChang 2018 Olympic Winter Games, Visa commercially sold wearable products, such as gloves and lapel pins, enabled to make payments over contactless payment readers. For Tokyo 2020, Visa is exploring payment innovations ranging from biometric payment authentication and wearables to new mobile applications which will include digitally-issued cards.
- Measuring Inbound Global Travel & Spend to Japan: According to Visa’s Global Travel Intentions (GTI) Study, Japan has overtaken the United States as the most popular destination within the past two years among the international travelers surveyed. In the lead up to the Olympic Games, Visa will continue to share consumer travel and spend data and predictions on Olympic-related tourism trends, to help prepare local merchants for an influx of foreign travelers.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
 Japan National Tourism Association, annual data as of Dec 31, 2017
Georgian writer wins EU Prize for Literature
The famous Georgian writer, blogger and advertising copywriter Beqa Adamashvili has become a winner of the EU Prize for Literature. The prize recognises outstanding new and emerging literary talents across Europe.
Adamashvili graduated from Caucasus University’s Faculty of Journalism and Social Science and made his literary debut in 2009 with short stories published on electronic platforms. In 2014, Adamashvili released his debut novel “Bestseller”, which eventually went on to become a local bestseller.
Critics claim that Adamashvili is one of the most creative-minded writers of contemporary Georgian literature. Alongside his writing, he works as creative director for an advertising company.
The European Union Prize for Literature aims to put a spotlight on the creativity and diverse wealth of Europe's contemporary literature in the field of fiction, to promote the circulation of literature within Europe and to encourage greater interest in non-national literary works. The prize is funded by the European Commission under its Creative Europe programme.
So far, the EU Prize for Literature has rewarded 108 authors from 41 countries during its decade of existence. Last year, the EU Prize for Literature celebrated its 10th Anniversary with the ‘European stories’ short story contest, open to all previous laureates. Entering its new cycle, the Prize is introducing its first ever laureates from Georgia and Ukraine.
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Visa Acquires Control of Earthport
Visa’s Ownership of Earthport to Bring More Speed, Simplicity, Transparency and Trust to Global Payments
Tbilisi – May 20, 2019 —Visa Inc. (NYSE: V) today announced it has acquired control of Earthport (AIM:EPO), a company that provides cross-border payment services to banks, money transfer service providers and businesses via the world’s largest independent ACH network.
Currently, Visa enables payments to be sent to or from Visa cards. The acquisition will make it possible for Visa clients to enable individuals, businesses and governments to utilize Visa to send and/or receive money through bank accounts around the world. With the acquisition of Earthport, Visa expects to be able to reach the vast majority of the world’s banked population and allow them to easily, quickly and securely move money worldwide.
Nearly $80 trillion (US) of money is sent via a wire transfer or bank account globally today, but the process is harder and more complex than it should be. Money can take days to arrive because of outdated, inefficient and costly methods.
This transaction can solve for many use cases including payroll and international person-to-person and business-to-business remittances. Take the example of a global marketplace that employs contractors globally who have to get paid in their local currencies. Today, that company may be paying its workforce using inefficient, expensive wire transfers that can take days to arrive. With the combined capabilities of Visa and Earthport, Visa can be the single network for these payments, helping to pay contractors and employees around the world, quickly and safely.
“Visa is modernizing the way we move money by making it quicker, safer and easier to pay and be paid than ever before,” said Bill Sheley, head of global push payments, Visa. “The acquisition of Earthport unleashes the power of Visa by taking us ‘beyond the card,’ empowering us to enable our clients to make payments through bank accounts around the world.”
Earthport’s technology will allow Visa to further expand and scale Visa Direct’s rapidly growing portfolio of use cases, including funds disbursements, peer-to-peer payments, cross border payments, marketplace payouts, and bill payments. Over the last 12 months, Visa Direct’s transaction count growth has continued to be over 100% - showing the demand for faster, smarter money movement among consumers and businesses around the world.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
Earthport (AIM: EPO) provides cross-border payment services to banks, money transfer service providers and businesses via the world’s largest independent ACH network. Customers gain new levels of predictability, transparency and cost-efficiency without intermediary deductions or landing fees. This is underpinned by bank-grade compliance expertise, providing peace of mind to clients, and end-to-end FX, treasury and cash management solutions to support customers with their growth.
Altyn Asyr Lake – new opportunities for the region
On the 8th of May 2019, a briefing was held in the framework of the events dedicated to the foundation laying of the new, social-production complex in Serdar province of the Balkan region. This event was organized with the aim of informing the larger community about the Turkmen Lake “Altyn Asyr,” including its significance in the sphere of environment protection and development of social-economic system of Turkmenistan and the region in general.
The high-level foreign guests, heads and representatives of the diplomatic corps accredited in Turkmenistan, international organizations and programs, international experts, as well as the representatives of national and foreign mass media took part in the briefing.
The authorized representatives of UN agencies and OSCE gave speeches during the briefing where they specifically noted the significance and scale of the man-made Turkmen Lake “Altyn Asyr” that is being constructed in the heart of the Karakum valley.
Then the Scientific-practical conference was held dedicated to the importance of Turkmen Lake which is a grand hydro-technical project aimed at the amelioration of environment, including the rational use of water and land resources. The key officials of Turkmen higher educational institutions, scholars, experts, as well as the representatives of national mass media attended the conference.
During the conference, it was noted that Turkmen Lake “Altyn Asyr” will undoubtedly make a vital input to the development of social and economic system of the country.
After the events, the excursion by boat and bus along the Turkmen Lake “Altyn Asyr” was organized for the participants of the event that was also complemented by a promenade. Here, the participants could get acquainted firsthand with the transformations in the Karakum valley that took place after the construction of the reservoir that is being replenished by wastewaters from the agricultural fields of the country.