Visa along with USAID Economic Security Program announces ICT Champion category winner of the Grace Hopper Award Program in Georgia

Published in Society
Sunday, 12 June 2022 06:59

Tbilisi, June 10, 2022 – Today, Visa in partnership with USAID Economic Security Program in Georgia distinguished Nana Dikhaminjia as a winner of the ICT Champion category and awarded with special money prize - 5 thousand Gel. Visa, as supporter organization joined the Grace Hopper Award Program in Georgia, founded by the USAID Economic Security Program in partnership with TBC Bank and UN Women. The award ceremony of the program was held on June 10 and recognized the winners in six categories of the contest.

The winner of the ICT Champion category, Director of Digital Transformation Center at the Alte University - Nana Dikhaminjia is actively working in educational field and makes a special contribution to strengthening the role of women in the field of information and communication technologies.

The ICT Champion Award is a special nomination, that recognizes the most accomplished professionals and changemakers in the field of ICT who are making a significant impact within the organization, the community, or the country regardless of the type of sector they represent whether it’s education, private sector, government, consulting, or non-profit.

We are thrilled to award Nana Dikhaminjia as the winner of the ICT Champion category.  Being part of the Grace Hopper Award program corresponds our priorities to support women in tech and innovations, and advance them on a global level. Our team believes, that the winner receives our strong support and becomes a member of our big network. I am extremely happy to hand over special money prize 5 thousand Gel to Nana as our contribution in active work she does. I would like to thank to organizers for giving as an opportunity to support and empower women community in the country.” – noted Diana Kiguradze, Visa Regional Manager for Caucasus region and one of the members of the jury of established professionals assessing the nominations of the program.

Engaging as a supporter organization in the Grace Hopper Award Program and awarding the ICT Champion category winner is another step forward for Visa in its efforts of supporting women, advancement of innovations and also, contributing to development of an equal society. All three directions are an integral part of Visa’s mission to connect the world through the most innovative, convenient, reliable and secure payments network enabling individuals, businesses and economies to thrive.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge

Visa joins Grace Hopper Award Program in Georgia and Champions Woman in the information and communication technology (ICT) industry

Published in Economics
Wednesday, 13 April 2022 10:48

Tbilisi, April 13, 2022 - Visa became a part of the Grace Hopper Award Program in Georgia, founded by the USAID Economic Security Program in Georgia, in partnership with TBC Bank and UN Women.

Engaging as a supporter organization in the Grace Hopper Award Program is another step forward for Visa in its efforts of supporting women, innovations and also, contributing to development of an equal society. Empowering women in the information and communication technology (ICT) industry is especially important in terms of breaking stereotypes and overcoming challenges that women are facing nowadays. Visa believes that development of the ICT industry in Georgia itself is one of the most important driving forces in the modern economic advancement, as innovative technologies play a crucial role in the reality of rapidly growing demand on digitalization.

One of our top priorities is to spotlight and address women who face challenges and ensure they get the support needed, thus we are committed to provide equal opportunities for everyone based on professional competencies and leadership skills. Within the program we support ICT Champion category, and I believe that the winner we choose will receive our strong support, special prize and become a member of our big network.” – noted Diana Kiguradze, Visa Regional Manager for Caucasus region.

Bearing the name of a prominent American computer scientist and computer programming pioneer Grace Hopper, whose legacy continues to inspire many, this program recognizes the contribution of women that lead to positive changes in the information and communication technology (ICT) industry. The program is supported by Gender Equality Council of the Parliament of Georgia, UGT and Majorel Georgia.

To apply for the nominations and fill out the application, please visit www.ictwomen.ge Applications will be accepted from April 8 to May 8, the finalists will be revealed on May 30, and an award ceremony will be held on June 10.

 

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About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge

Visa Georgia Provides additionally 300,000 USD and joins Georgia Red Cross Society to Support humanitarian efforts in Ukraine

Published in Society
Friday, 25 March 2022 11:02

Visa team in Georgia provides an instant aid donation of 200 thousand US Dollars to the Georgia Red Cross Society and 100 thousand US Dollars by double matching of all donations made by Visa card holders

Tbilisi, March 25, 2022 – Georgia team of Visa, a global leader in digital payments, joins the immediate humanitarian response to the needs of the conflict-affected families in Ukraine and provides an additional instant fixed donation of 200 thousand US Dollars to Georgia Red Cross Society. On top of that, up to 100 thousand US Dollars by double matching of all donations made by Visa card holders on the website[1] of Georgia Red Cross Society. The final beneficiary of the amount is the Red Cross Ukraine which will deliver vital humanitarian supplies and services to those in need.

Visa team in Georgia encourages all Georgian citizens, holding a Visa card to join the campaign along with Georgia Red Cross Society and make their contribution in delivering life-saving goods and services to conflict-affected families and individuals in Ukraine. The special fundraising online platform is established on www.redcross.ge All citizens of Georgia can easily access and raise money to support vulnerable communities facing devastation and a serious humanitarian crisis, caused by open military invasion in Ukraine.

 “Our Visa team stands on the side of kindness and peace. We believe that together we are stronger to encourage Ukrainian families and friends facing devastation hardship, help to avoid a serious humanitarian crisis. In this regard, Visa team in Georgia is proud to support the humanitarianrelief efforts of the Red Cross Society. To that end, we are providing an instant donation to Georgia Red Cross Society to be transferred to the Red Cross Ukraine and at the same time, start double matching individual donations made by Visa card holders using the Georgia Red Cross Society website. By doing so, we are encouraging Georgian citizens as longstanding friends of Ukrainian people to join the campaign and make contribution in humanitarian assistance.”  - Said Diana Kiguradze, Regional Manager for Caucasus Region, Visa.

Georgia Red Cross Society continues to raise funds to support those in need in Ukraine. Together with Visa, we launched a fundraising campaign, Visa has already transferred 200,000 USD Dollars, which will be fully donated to the Ukrainian Red Cross. We constantly seek for fundraising opportunities. The active engagement of the business sector due to provide support for more people in Ukraine, is very important. I would like to thank Visa for this contribution and I believe we continue our cooperation in the future as well.Stated Natia Loladze, President of the Georgia Red Cross Society.

Beyond these efforts, Visa Foundation already donated USD 2 million to support humanitarian aid to the people of Ukraine giving a grant to the US Fund for UNICEF, and an additional USD 1 million was provided by Visa through double matching of all Visa employees donations to the Ukraine response funds of UNICEF and the Red Cross.

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About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge

Visa Everywhere Initiative 2022 invites fintech and payment startups to showcase their solutions on a global stage

Published in World
Tuesday, 01 February 2022 11:26

Innovative fintech startups across Central and Eastern Europe, the Middle East and Africa are invited to sign up to gain exposure and access to Visa’s network, as well as $35 000 for CEMEA Final, and $125 000 for Global Final, in total prize money

Tbilisi, February 1, 2022: The Visa Everywhere Initiative (VEI), a global open innovation program is inviting fintech and payment startups to showcase their innovative products and solutions, with finalists gaining firsthand exposure to key fintech stakeholders across banking, merchant, VC and government sectors. Winners of the competition will be awarded monetary prizes and the opportunity to partner with a global, trusted brand like Visa.

This year’s program has expanded to include startups that are using cryptocurrency and Visa Direct, a payment solution that can help businesses move money to billions of endpoints worldwide via card and account rails, in innovative ways. Finalists from across the world that are driving economic growth will converge in Qatar this November for the VEI finals.

Fintechs and payments innovators are transforming the way consumers and businesses make payments, making it easier for more people to access the money they need when they need it – and the pandemic has seen this become more critical than ever.We are proud that the team from Georgia – Payze, became the winner of Visa Everywhere Initiative 2021 in CEMEA among 760 applicants. The fact that the Georgian startup became the main finalist of Visa Everywhere, proves development of cashless economy in the country, presents the local companies on the world’s fintech map.” said Diana Kiguradze, Regional Manager for Caucasus region.

Past editions of VEI have given some of the most promising innovators in the payments space a shot at accelerating their growth, such as MayaSoft, a startup from Uzbekistan, one of the winners for the CEMEA region in partnership with Visa presented the first contactless payment solution in Uzbekistan based on Visa Tap to Phone technology, certified according to the requirements of the Visa Ready program in 2021. PAYZE of Georgia became the winner for the CEMEA region in the last year, for representing the best innovative payment and commerce solutions to solve the payment challenges of tomorrow.

Competing on a global stage alongside some of the most prestigious startups in the world and, more importantly, being able to receive that global exposure and support from a trusted brand like Visa was an exceptional achievement for PAYZE,” said Giorgi Tsurtsumia, Co-Founder and Co-CEO of PAYZE (Tbilisi, Georgia) as well as 2021 VEI CEMEA Winner. PAYZE is an e-commerce-oriented fintech that enables businesses across CIS countries to accept payments from around the world through a single integration. With the support of Visa’s network and a cash prize of $25,000, the PAYZE team is busy fulfilling their vision, having processed more than 250,000 transactions across 2021.

The competition also saw Karachi-based fintech, Safepay, win the CEMEA Audience Favorite award and $10,000 in prize money. Safepay specializes in secure payment processing for e-commerce stores and helps merchants increase checkout conversions, expedite receivables, and streamline sales by allowing their customers to pay online.

The VEI network includes 8,500 startups from around the world, which continues to grow every year. Since its launch in 2015, the program has helped startups from over 100 countries collectively raise more than $2.5 billion in funding, addressing one of the biggest challenges faced by early-stage entrepreneurs. Every year, the scope of VEI is expanded to engage with unique startups and solve unique problems in the world of payments.

This year, the program will have a clear focus on CEMEA, a region with tremendous opportunity for fintechs that are developing innovative products and solutions aimed at supporting the community. The latest edition of VEI sees two new editions in Egypt and Saudi Arabia, as well as the global finale in Qatar in November 2022.

VEI is seeking innovative and ambitious entrepreneurs who are uplifting communities by solving payment and commerce challenges faced by businesses of all sizes and sectors, including:

Enablers of digital services and digital issuers

  • Blockchain and cryptocurrency
  • Crowdfunding
  • Banking-as-a-Service
  • BIN sponsors
  • Issuer/processors
  • Program managers

Digital issuance

  • Blockchain and cryptocurrency
  • Alternative lending
  • Personal financial management
  • Money transfer and remittance
  • Digital banking (aka neo banks)
  • Digital wallets, peer-to-peer (P2P) and transfers
  • Employee benefits
  • Payables
  • Corporate cards (aka expense management)

Value-add for merchants and/or consumers in the finance space

  • Data and analytics
  • ID, authentication and security
  • InsurTech
  • Loyalty
  • Merchant services and tools
  • Process and payment infrastructure
  • Retail technology
  • Other

Small- and medium-sized businesses

  • Money movement (disbursements, Intra-account, P2P vendor and payments)
  • Acceptance (e-commerce and mobile acceptance)
  • Risk management (chargebacks, etc.)
  • Brand management (Community building, etc.)
  • Other

Visa does not acquire any equity from Visa Everywhere Initiative competitors as part of this competition.

More information and application details are available here.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.

Learn more at Visa.com.ge

Visa and the Ministry of Economy and Sustainable Development sign MoU to boost economic, innovative and cultural development of Georgia

Published in Economics
Saturday, 18 December 2021 12:14

Visa and the Ministry of Economy and Sustainable Development of Georgia authorized a two-year partnership to support local tourism and SMEs, promote economic and financial inclusion and boost Innovations in Georgia

Tbilisi, Georgia – DECEMBER 17, 2021 -Visa, the world’s leader in digital payments, has signed a two-year Memorandum of Understanding (MoU) with the Ministry of Economy and Sustainable Development of Georgia to address the needs of small and medium-sized enterprises (SMEs) impacted by COVID-19, support local tourism, contribute to the progress of economic and financial inclusion, and drive innovations in Georgia.

The document on future cooperation was signed by Natia Turnava, the Minister of Economy and Sustainable Development and Diana Kiguradze, Visa Country Manager for Caucasus Region. The official signing ceremony of the Memorandum was held at the National Museum of Georgia, one of the must-see cultural destinations in the country.

This memorandum is aimed to foster cooperation between Visa and Ministry of Economy and Sustainable Development establishing a collaborative framework, which will entail the following aspired objectives:

  • Support of small and medium-sized enterprises (SMEs) impacted by COVID-19, by offering joint educational programs, such as launching Visa Business Skills platform in cooperation with Enterprise Georgia and accelerate digitization process;
  • Promote local tourism and increase number of local and international travelers through joint activities;
  • Explore and accelerate innovations in Georgia, within tailored projects to promote economic and financial inclusion.

The signing of a memorandum between Ministry of Economy and Sustainable Development of Georgia and Visa will help to accelerate the digital transformation for Georgiansmall and medium-sized enterprises. Within the upcoming years, Visa will support both the Entrepreneurship Incentive Program - “Enterprise Georgia” - and the National Tourism Administration, which is very important given the international image of the global company. As a result of the cooperation, educational programs will be implemented to accelerate the digital transformation of the local small and medium-sized companies, as well as joint marketing campaigns will be planned in order to stimulate domestic and international tourism using the specific data shared by Visa. It is important that Visa is a supporter of small and medium-sized businesses, including the development of the tourism sector in Georgia.” – said Natia Turnava, Minister forMinister for the Economy and Sustainable Development.

”Signing of this memorandum today marks creation of an important collaborative platform for Visa and Georgia aimed at further development of the national economy. Focusing on three strategic pillars, such as SME’s support, local tourism development, and bringing innovations to the country, together with the Ministry of Economy and Sustainable Development and all involved parties, we aspire to achieve a long-term positive effect of our mutual work for society. At Visa we also believe in innovative and technological future of Georgia, that also preserves and endorses national cultural heritage and promotes the country as one of the world’s best destinations”. - noted Diana Kiguradze, Visa Country Manager for the Caucasus region.

By supporting local tourism development, Visa will be sharing with the Ministry specific data, including deep analysis and insights of travelers’ patterns. Designed framework will enable effective tourist traffic stimulation strategy planning, helping to identify soft spots and gap analysis. It will help to promote and effectively explore touristic potential of the country, strengthening existing routes and opening new ones.

With a global financial literacy initiative and ambitious goal to digitalize 50 million small and medium enterprises worldwide, Visa will present in Georgia its global digital platform – Practical Business Skills (PBS). This education platform featuring more than 50 online modules will address needs of entrepreneurs at various stages of the business lifecycles.

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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, www.visa.com.ge,  https://www.facebook.com/VisaGeorgiaGE

Visa and World’s Leading Experts Explore Future of Payments at Visa Informal Cashless Forum 2021 (Video)

Published in Economics
Thursday, 11 November 2021 20:40

On November 3, the Visa Informal Cashless Forum 2021 has premiered online in the format of a visionary video story. The video is publicly available on the Visa CISSEE YouTube channel - Visa Cashless Forum 2021. The topics of the discussion with world’s leading experts on “The Big Bang in Payments” were:

  • What will be the next fintech revolution?
  • Is there a future for cryptocurrencies?
  • When will passwords become a thing of the past?
  • How will AI help us make financial decisions?

Experts sharing their vision include: David Birch,Nassim Nicholas Taleb,Mykhailo Fedorov, Alexey Khitrov and Visa experts:

    • Vira Platonova, Senior Vice President, CISSEE Group Country Manager, Visa
    • Oleksandr Yablunivskyi, Vice President for Solutions, CISSEE, Visa
    • Yevgen Lisnyak, Senior Director, Head of Strategic Partnerships, Fintech & Ventures, CISSEE, Visa
    • Visa country managers in the CISSEE region, including Diana Kiguradze, Visa Country Manager for Caucasus

Visa Digitally Enables 16 Million SMBs on Path to Reaching 50 Million Goal Worldwide

Published in Economics
Tuesday, 21 September 2021 13:05

New Visa research shows how essential digital capabilities are for SMBs to compete in a post pandemic world

Amidst record rise of entrepreneurism, a new class of digitally-native small businesses emerge

Georgia, Tbilisi – September 21, 2021 – Visa (NYSE: V) today announced it has helped to digitally-enable an estimated 16 million small and micro businesses (SMBs) worldwide, or just over 30% of the multi-year goal it set in 2020 to digitize 50 million SMBs. Since the start of the pandemic, Visa has launched community-based programs from Dubai to DC, to help more small businesses accept digital payments and gain greater access to the digital economy. The necessity for SMBs to continue to digitally accelerate is underscored by the 5th edition of the Visa Back to Business global study released today, which found that 68% of consumers say COVID-19 has permanently changed how they will pay.

“With a 19-month view into the pandemic, we’ve seen that small businesses who embraced digital commerce and cross-border sales have weathered the pandemic better,” said Mary Kay Bowman, global head of buyer, seller, core and platform products, Visa. “But it’s no longer just about pivoting and surviving. We’re now seeing a hopeful surge in entrepreneurship, and as we march toward our goal of 50 million, we’re helping a new breed of business owner come online as digitally-native for the first time.”

Visa Back to Business Study: A Global Pulse on Payment Preferences

The Visa Back to Business global research study has surveyed SMB owners and their customers since the onset of the global pandemic. With an extensive body of sentiment data accumulated through five editions, findings from the newest study highlight the economic opportunity that lies in connecting SMBs, communities and technology:

  • SMBs Still Working to Meet Consumer Expectations: The pandemic has dramatically increased consumers’ concern with touching cash and payment readers and correspondingly, increased the desire to tap to pay[1]. Seventy-four (74%) percent of SMBs around the world expect customers will continue to prefer contactless payments as much as, or more than they do now, with two in five (40%) SMBs citing contactless among the top investments needed to meet customer expectations.
  • Contactless as a Competitive Edge: Stores that don’t accept contactless payments could run an increased risk of losing customers as a result. More than two in five (44%) consumers say they wouldn’t shop at a store that only offers payment methods that require contact with a cashier or shared device.
  • Prioritizing Online Security: One year ago, just 17% of US SMBs started selling products or services online for the first time during COVID-19 and now, 57% expect to continue to do so in the next three months. Yet, many SMBs surveyed said the shift presented new challenges with the top concerns cited as data privacy and security (33%), cost to invest in digital infrastructure (31%) and having less of a personal connection with customers (30%).
  • Opportunity Knocks for New, Digitally-Savvy SMBs: While 54% of SMBs say the past year has been a challenge for their business, 46% have viewed it as an opportunity, up from 38% in November 2020. Among those who saw 2020 as an opportunity, their focus has been on new products (37%) and expanding their sales channels (34%), with 23% having started a completely new business.

Unlocking Access to the Digital Economy

Recognizing thatgreater digitization of commerce can bring enormous benefits to small businesses, Visa seeks to bring increased digital equity and inclusivity to the world through its multi-year commitment to digitally enable 50 million SMBs. With 3.4 million new U.S. business applications filed in the first seven months of 2021 alone[2], Visa’s efforts are focused on ensuring both existing and newly minted small businesses are well-equipped to meet changing consumer demands and embrace the digital future.

From London to North Dakota, Visa has directed resources to SMBs through dozens of programs tailored to fit the needs of local communities. Among them, Visa has committed more than $1 million in hyperlocal grants to U.S. SMB owners who have been disproportionately impacted by the pandemic, deployed Small Business Street Teams to 900,000 businesses in 18 markets, and transformed payment acceptance in 49 markets with Visa Tap to Phone, which enables sellers to accept contactless payments through a simple mobile app. Visa also expanded its global digital education platform for entrepreneurs, Practical Business Skills, which delivers free education resources to SMB owners and to support the digital transformation of their businesses. This builds on a $200 million, 5-year commitment from the Visa Foundation made in 2020 to support SMBs around the world, with a focus on fostering women’s economic advancement.

Visa will continue to celebrate the expansive role SMBs play within local communities and the global economy, starting with the launch of a new digital series today, “Voices of Access,” featuring SMB customers from around the world sharing their unique stories and empowering others to see the possibilities of the digital economy.

More information on the programs Visa has made available to small and micro businesses is available on the Visa Small Business Hub and the Visa Small Business COVID-19 support site.

Methodology: Visa Back to Business Study

The Visa Back to Business Study: 5th Edition, was conducted by Wakefield Research between June 15-28, 2021, among 2,250 small business owners at companies with 100 employees or fewer in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore, United Arab Emirates and United States. The consumer portion surveyed 1,000 adults ages 18+ in the U.S., and 500 adults ages 18+ in Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore and United Arab Emirates.

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, www.visa.com.ge,  https://www.facebook.com/VisaGeorgiaGE.



[1] Source: US Contactless Online Research Study April 2020

[2] Source: U.S. Census Bureau, Business Formation Statistics

Meet Visa: Reintroducing the Iconic Visa Brand to Everyone, Everywhere

Published in World
Thursday, 22 July 2021 17:07

Multi-year brand evolution highlights the power of Visa’s trusted global network, enabling modern money movement and expanding economic access

SAN FRANCISCO, CA – JULY 22, 2021 – Inviting the world to ‘Meet Visa,‘ the global payments technology company today unveiled the initial phase of its brand evolution spotlighting the diverse capabilities of its network and commitment to enabling global economic inclusion. Aligned closely with the company’s business strategy, this phase includes the debut of a dynamic global marketing campaign and a preview of a modernized look for Visa’s iconic brand.

More than 60 years ago, when Visa was founded, few could imagine a world beyond cash and checks. Visa’s founding vision to introduce a more secure, reliable and convenient currency in digital form began with a simple question: what if money became fully electronic? Today, Visa continues to anticipate the future of digital commerce, providing access through its secure global network working for everyone, everywhere.

“People think they ‘know’ Visa. Consumers and businesses trust the power of those four letters and see it when they open their wallet, pay a vendor, walk into a store or check out online. What they don’t see is how those four letters operate the most dynamic network of people, partnerships and products,” said Lynne Biggar, Executive Vice President and Global Chief Marketing Officer, Visa. “We are on a mission to ensure that Visa is seen as more than a credit card company and understood as a trusted network that drives commerce forward.” 

While Visa continues to shape the physical and digital credit or debit card transaction, it also increasingly sits at the center of enabling money movement. A company built on access to economic inclusion, the Visa network connects 3.6 billion credentials, over 70 million merchant locations, tens of thousands of partners and powers more than $11 trillion in total volume annually. Over the last five years alone, Visa has invested $9 billion in technology to shape the future of commerce, delivering a differentiated set of products, services and benefits.[1] Visa’s network helps enable a gig-worker with the flexibility to get paid in real time, facilitates person to person payments that can send and receive money between billions of cards and accounts worldwide, and large corporate payments to be made more effortlessly across borders, as just a few examples.

Illustrating the scope of Visa’s capabilities, initial elements of Visa’s brand evolution include:

‘Meet Visa’ films spotlight the power of the network. Developed by Visa’s global creative agency of record, award-winning Wieden+Kennedy, Visa is unveiling a short film directed by Malik Hassan Sayeed that invites the world to ‘Meet Visa,’ a network working for everyone. Complementing this introductory film is a series of shorter digital films and photography that showcase the breadth of the Visa network working to provide access and advancing commerce for real people in real places around the world. Brought to life by some of the best and most diverse creative talent including Sayeed, Visa also worked with photographer Camilla Falquez and Argentinian directing team Pantera & Co. – Brian Kazez, Pato Martinez and Francisco Canton – to vividly capture moments such as:

New Visa brand identity symbolizes change. Visa has long stood for trust, security, acceptance and inclusion. These core values, in addition to the goal of enabling access for everyone to participate in the global economy, will be expressed through a modernized, dynamic visual brand identity, built in partnership with leading global brand design firm Mucho. The ‘Meet Visa’ campaign shares an initial glimpse into the evolved visual brand identity launching later this year, featuring refreshed colors for digital impact, a custom font created for optimal digital experiences and an updated brand symbol designed to express the purpose behind the organization.

our busines demands that the role of our company extends far beyond transactions.

Over the course of 2021, Visa’s new brand identity will become visible in all 200+ countries and territories Visa operates in, cutting across the company’s primary business strategy encompassing:

  • Consumer payments, focusing on expanding access and moving the $17 trillion spent in cash and checks globally to digital payments.
  • New payment flows including cross-border person-to-person payments and a range of value-added services that help businesses of all sizes navigate today’s landscape; identify new growth opportunities; and maintain our mission of making Visa the most secure, resilient and reliable network.
  • A diversity of offerings and solutions through burgeoning partnerships with fintechs and established brands, relationships with governments around the world and innovative technology built for the future.

“We are capturing the bold ambition of Visa with this brand evolution as a way to express what we stand for and what we strive for,” continued Biggar. “With the world reopening and with money increasingly moving in new ways, there’s no better time to showcase the work we do and the impact a purpose-driven brand with Visa’s scale can have to enable individuals, businesses and economies to thrive.”

For more information on “Meet Visa,” visit https://usa.visa.com/our-purpose/leading-by-example.html.

About Visa Inc.

Visa 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. As the world moves from analogue 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, visa.com.ge, facebook.com/VisaGeorgiaGE



[1] Visa Financial Analysis 2020

News Release of the Visa

Crypto-linked cards see continued growth

Published in World
Monday, 12 July 2021 13:37

Connecting digital currency to Visa's global network helps move money for the crypto community

Today the value of crypto assets held in regulated digital wallets is in the hundreds of billions. For the tens of millions of people using those platforms, one of the simplest ways to spend crypto is through a Visa card.

We’re partnering with 50 of the leading crypto platforms on card programs that make it easy to convert and spend digital currency at 70 million merchants worldwide. With more than $1 billion spent on crypto-linked Visa cards in the first half of 2021, it’s clear that the crypto community sees value in linking digital currencies to Visa’s global network.[1]

What’s more, these programs don’t require coffee shops, dry cleaners, or grocery stores to directly accept cryptocurrencies at the checkout. It’s the magic of “tap and go” without the complexity of new acceptance points or cryptographic keys.

We’ve been busy at Visa, connecting the crypto economy to our ‘network-of-networks,’ a strategy designed to add value to all forms of money movement, whether on the Visa network, or beyond. 

Here’s a look at the trends we’re seeing and the progress we’ve made against our digital currency roadmap.

  • An expanding and evolving ecosystem: We’ve been growing our relationships with today’s leading digital currency platforms— FTX, Coinbase, Crypto.com, and CoinZoom, to name a few. The expertise and treasury infrastructure we’ve built have helped establish Visa as the network of choice for crypto native companies. In fact, today one-quarter of the companies in Visa’s Fintech Fast Track program are working to issue Visa cards linked to a crypto platform.[2]

These platforms are diversifying to meet an array of consumer needs, with new tools and features spanning interest accounts, lending and direct deposits. In this context, it’s more important than ever for financial institutions of all stripes to establish a crypto strategy.

  • Rewards Reimagined: Consumers want choice in all things, and loyalty and rewards are no different. Programs like the BlockFi Rewards Visa Credit Card let users spend fiat and earn crypto rewards in a similar way other cards offer rewards programs for airline miles or hotel points.[3]By combining engagement in the crypto economy with the utility of a standard Visa card, these programs have potential to win long-term customer loyalty among both crypto enthusiasts and new adopters.
  • Stablecoins come to the fore: With more than $100 billion worth of stablecoins in circulation and hundreds of billions exchanged each month on public blockchains, stablecoins are starting to live up to the promise of “digital fiat”: the developer-friendly characteristics of cryptocurrency combined with the reliability of fiat-backed reserves.

We’re seeing digital wallets and crypto platforms build payment products entirely with digital currency. For example, the fast-growing FTX platform, a new Fintech Fast Track member we’re announcing today, is paying fifty per-cent of their remote employees in USDC. We’re making our network more accessible to this growing ecosystem with capabilities like USDC settlement and through our partnership with Circle. As we look to the future, stablecoins are on track to become an important part of the broader digital transformation of financial services, and Visa is excited to help shape and support that development.

Interested in learning more? Check out Visa’s outlook on digital currency



[1] Cumulative payment volume for Visa card programs linked to a digital currency platform, January 2021-June 20211

[2] Visa Fintech Fast Track Participants for North America with plans to issue Visa card programs.

[3] Please see the BlockFi Rewards Program and Crypto Rewards Account Terms for more information.

 

Payze of Georgia is 2021 Winner of Visa Everywhere Initiative for Central Europe, Middle East and Africa (CEMEA) Region

Published in Society
Thursday, 10 June 2021 16:38

760 fintech applicants from CEMEA region entered the competition with innovative payment and commerce solutions to solve the payment challenges of tomorrow

Tbilisi, June, 10, 2021 – Visa Inc. (NYSE: V) Visa today announced the regional winners for Central and Eastern Europe, the Middle East and Africa (CEMEA) in its Visa Everywhere Initiative, a global innovation program and competition for startups and fintech companies.

First place for CEMEA and $15,000 in prize money went to Payze of Georgia. Payze now advances to the global finals being held on September 14 with $100,000 in prizes available including $50,000 for the overall winner.

Founded in 2020 by Giorgi Tsurtsumia and Kakha Gelashvili, Payze is an innovator of financial transactions, helping businesses in CIS countries accept payments from around the world through a single integration. By April 2021 Payze has been processing more than serving more than 200 merchants growing 35% month over month in gross transaction volume.

“We are excited  and proud to share that the winner of Visa Everywhere Initiative in CEMEA is originated from Georgia. The fact that the Georgian startup became the main finalist of Visa Everywhere Initiative in CEMEA among 760 applicants proves that Georgia is not only the world’s leader in contactless payments, but also has a great influence on the world’s fintech map. We are proud, that Visa, leading the way in the development of cashless economy in Georgia and the Caucasus region, is an active initiator of a such range of programs and strives to create a stable cohesion between the ideas and their implementation connecting fintech companies and traditional players of the financial system all over the world. Success attend you during the finals, Payze!”,mentioned Diana Kiguradze, Country Manager for the Caucasus region.

Also honored at the June 9 CEMEA regional finals was Safepay of Pakistan, which took the Audience Favorite award and $10,000 in prize money. 

TechCrunch is a leading online publisher focused on the tech industry, being the heart of the global startup ecosystem. As a media partner of Visa Everywhere Initiative, TechCrunch hosted the CEMEA regional finals in the live-streamed format. Thanks to their continuing support, the finalist virtually presented their solutions to the payment challenges of tomorrow to an expert panel of judges.

The expert panel of judges included:

  • Shereen Abdulla, Senior Manager, DIFC Fintech Hive;
  • Neil Caldwell, Senior Vice-President, Head of Merchant Sales & Acquisitions, Visa CEMEA;
  • Ines Rocha, Director for Financial Products, SME Finance & Development Team, EBRD; 
  • Tad Tilahun, Senior Vice-President, Head of Products and Solutions, Visa CEMEA;
  • Otto Williams, Senior Vice-President, Head of Partnerships, Innovation & DigitalSolutions, Visa CEMEA;
  • Rena Zuabi, Value Creation, Disruptive Investments, Mubadala.

 "Winning Visa Everywhere Initiative is a testament of the hard work our team is putting forward, and we are extremely proud of this achievement. It was fascinating and at the same time challenging experience competing against the best startups in the region, but it was a growth point to us as a startup which has been contributing to the process of receiving and managing online payments of any tech company or person in the CIS region. We are grateful to Visa for providing all 760 applicants in CEMEA with this unique opportunity and believe that the tools and technologies Visa offers are crucial for the further development of payment ecosystem”, told Giorgi Tsurtsumia, co-founder, Payze.

The Visa Everywhere Initiative helps fintech innovators in two ways: as a program, it plugs them into the network of startups that our product teams from all over the world access when searching for solutions; and as a competition, it gives them a forum in which to make a pitch to a panel of payments experts, win prizes and gain wider attention.

The competition is tailored to startups and fintechs with great products already in market and gaining traction - and looking for an extra push from a global, trusted brand like Visa to gain scale.

In all, five companies advanced to the CEMEA regional finals. Besides Payze and Safepay, the other three finalists were:

  • Habtamu Tadesse, Founder & CEO, ArifPay, Ethiopia
  • Alexander Grishin, Executive Director, Corp.bank, Russia
  • Michael Femi Simeon, Co-Founder & CEO, VPD Money, Nigeria

The focus of this year’s competition is on products that deliver innovative payment and commerce solutions to consumers and businesses. These encompass the market areas of: Enablers of digital services and digital issuers; Digital issuance; Value-add for merchants and/or consumers in regard to finance; and Small to medium-sized business recovery. In overall more than 2000 applicants participated in the competition.

In the global finals, which will be live-streamed on TechCrunch, Payze will compete against regional winners from Asia Pacific, Europe, Latin America and North America.

About the Visa Everywhere Initiative

The Visa Everywhere Initiative is a global, open innovation program that tasks start-ups and fintechs to solve payment and commerce challenges of tomorrow, further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners. The program launched in the U.S. in 2015 and quickly expanded into a global program with more than 7,000 participating startups. To date, startups have collectively raised over $2.5 billion in funding, and the program has been activated on six continents - touching more than 100 countries. For more information, visit visa.com

###

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, visa.com.ge, facebook.com/VisaGeorgiaGE

News Release of the Visa

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