Visa International
World's largest payments company.
Headquarters:
900 Metro Center Blvd.
Foster City, CA 94404
Employees: 9,500
CEO: Charles Scharf
Stock Symbol: V
Website: http://www.visa.com
Career Site
Visa is a global payments technology company that connects consumers, businesses, banks and governments in more than 200 countries and territories, enabling them to use digital currency via debit cards or credit cards instead of cash and checks.
Visa has built one of the world’s most advanced processing networks known as VisaNet. It’s capable of handling more than 65,000 transactions per second, with reliability, convenience and security, including fraud protection for consumers and guaranteed payment for merchants.
Visa does not issue cards, extend credit or set rates and fees for consumers. Instead, member banks issue cards under the Visa brand and are responsible for receiving payments and sending payments to merchants.
Visa’s innovations enable its bank customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. In fact, approximately 70 percent of Visa payment transactions in the United States are debit and prepaid, not credit.
Visa has an ATM network of 1.8 million locations worldwide.
Governments worldwide have switched to digital currency instead of checks for benefits payments and purchasing in order to increase efficiency and lower costs, saving taxpayers money.
Total processed transactions, which represent transactions processed by VisaNet for the twelve months ended September 30, 2015, totaled 71 billion, a 9% increase over the prior year.
In fiscal 2015, Visa reported revenues of $13.9 billion, an increase of 12% from the previous year, and net income of $6.3 billion.
Visa Inc. announced it would acquire Visa Europe for $23 billion in November. Visa Europe, an association owned and operated by member banks and other payment service providers, is the payments leader in Europe with over 500 million card accounts and 3,000 European issuers.
History
Bank of America launched the first credit card in 1958 known as the BankAmericard in Fresno, CA with an innovative "revolving credit" feature. The paper card had a limit of $300.
In 1970, National BankAmericard incorporates in Delaware. In 1973, the company launched the first electronic authorization system followed a year later by an electronic clearing and settlement system that was the precursor to VisaNet.
In 1975, the first debit card launches. In 1976, BankAmericard changes its name to Visa, a simple memorable name that is pronounced the same in every language. The blue and gold flag is adopted as the company logo.
The first Visa Travelers Cheques were introduced in 1979 in four currencies.
Visa launched an Automated Teller Network (ATM) in 1983 which gave customers 24-hour access to cash.
The Visa Check Card makes its debut in 1995.
In 2000, Visa-branded cards top one billion issued worldwide. In 2004, debit card volume surpasses credit volume for the first time.
In 2007, Visa restructures and creates Visa Inc., a new global corporation. Visa Europe remains a member-owned entity.
In 2008, Visa went public on the NY Stock Exchange as the largest IPO in history.
Visa bought CyberSource in 2010 for $2 billion.
Benefits
Visa structures its Total Rewards Package to be competitive in the market and to attract, engage, motivate and retain a highly skilled, committed and satisfied workforce.
Our rewards philosophy guides us in:
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Inspiring exceptional performance
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Focusing employee attention on achieving individual and business goals
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Rewarding performance that aligns with Visa’s Global Competencies
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Delivering competitive and equitable pay
Benefits Tailored to Your Needs
While benefits vary by country, all employees receive the following core benefits provided through Visa or in compliance with local regulations:
- Health care insurance coverage
- Life insurance coverage
- Retirement/savings plans
- Vacation, holiday and paid time off
- Leaves of absence
Perks and Conveniences
Visa provides additional perks and conveniences in some locations, such as on-site fitness facilities, employee discounts and commuter benefits.
Recognizing Your Achievements
Visa recognizes that our employees are our greatest assets. We encourage and reward innovation, efficiency and customer service. Visa operates several programs that reward excellence:
- Spot awards
- Service awards
- Talent referral program
Updated November 8, 2015
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