Visa Europe Says UK PIN Debit Card Use to Exceed Cash for First Time

Visa Europe is reporting that 77% of its business is now done with PIN Debit cards and that eCommerce growth made up 20 percent of all transactions in the U.K.  Here's an excerpt:

UK PIN Debit card use to exceed cash for first time

By Patrick Jenkins, Banking Editor | Financial Times



Debit card spending is on track to overtake cash as a payment method in the UK this year, according to Visa Europe, the card processor.



The group, owned by the banks for which it processes payments, said on Tuesday that 77 per cent of its business was now done with debit cards, rather than credit cards, after a 10 per cent rise in debit card transactions last year.



Visa said the swing was driven by a continued shift away from the use of cash and that online shopping has also driven growth, with 25%r of all Visa spending in the UK conducted online over the Christmas period and 20 per cent for the year as a whole.



“The growth in e-commerce is really staggering. The proportion has doubled in four years,” said Peter Ayliffe, chief executive of Visa Europe.

Read the Article in it's Entirety

About Visa Europe

Visa Europe is a membership association of 4,147 European banks that have collectively issued over 380 million Visa debit, credit and commercial cards in Europe.



In 2009, those cards were used to make purchases and cash withdrawals to the value of over €1.3 trillion.



In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe.



As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers – cardholders and retailers, and to meet the European Commission’s objective to create a true internal market for payments.



Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world’s largest global ATM networks, offering cash access in local currency in over 170 countries.

European focus

• Visa Europe is strongly committed to the goals of a Single Euro Payment Area (SEPA), in particular the ability for consumers to use card payments all across Europe and have a consistent experience doing so


• Visa Europe confirmed in January 2007 that all its products were in compliance with the SEPA Cards Framework (SCF) principles since January 2007, a full year ahead of the implementation deadline set by the European Payments Council (EPC)


• Europe is a distinct market – commercially, culturally and politically – and Visa Europe is a truly European payments organisation addressing these factors. Visa Europe has a unique business model backed up by around 1000 employees drawn from nearly all of its 36 European markets.

Visa Europe Management

• Peter Ayliffe is President and CEO of Visa Europe. He is responsible for Visa’s business in 36 countries


• With over 70% of Visa Europe’s business focused on debit, and thus directly connected to its member banks current accounts (the core of their business), its members have an invested interest in how Visa Europe is managed. One of Visa Europe’s unique attributes is the way that its member banks influence and oversee the management of the company, its systems and its operations


• Visa Europe's members are represented by 17 non-executive Directors, each of whom is a board-level employee of their respective organizations elected from member banks in Europe. The Visa Europe Board is chaired by Jan Lidén, President and Chief Executive Officer of Swedish bank FöreningsSparbanken


• The Executive Management Committee is the most senior internal day-to-day decision making body in the company. Meeting regularly and reporting to the Board of Directors, it makes all the decisions that relate to the day-to-day operation of the company

Products and services

Consumer Products: Visa has a complete portfolio of payment products to suit every bank customer – from basic ATM cash cards, through to debit and credit cards with a full range of benefits and services. These include Visa Classic, Visa Gold, Visa Platinum, Visa Infinite, Visa Electron, PLUS and now, V PAY, a new European debit product. Prepaid cards issuance has registered significant growth in the last 12 months, being a perfect idea as a gift card and being an ideal product for people who do not have a bank account.



Moreover Visa continues to introduce innovative payment technologies to the world. Contactless payments are the faster and more convenient way of making everyday purchases using a Visa chip card instead of cash. Visa payWave is the new contactless alternative to cash for low value transactions. We are also taking part in the O2 mobile wallet trial in London.



Visa Commercial: Visa Commercial products Visa Business, Visa Corporate, Visa Purchasing, Visa Distribution, Visa Commerce and Visa Government Procurement Card provide an easy, convenient way to buy office supplies, manage travel and entertainment expenses, control employee spending limits, meet cash flow needs, reduce operational expenses, and track, monitor and control business expenses. Backed by Visa’s unsurpassed acceptance and utility, Visa commercial products and services can be tailored to meet the changing needs of every business segment — from the multinational corporation to the sole proprietor and national governments.



Member Services: Visa provides a range of technology-related services to its Member banks. These include the processing of card transactions various fraud and risk-control systems and international cardholder assistance services.



Processing: Visa Europe Processing is the largest inter-bank card processor in Europe. Owned and operated in Europe by Visa Europe, it has a fully SEPA compliant European transaction switching platform. It is also the most technically advanced, fastest (4 time faster than competition) and cheapest processing system in Europe.



Visa Europe’s member institutions come from 36 European countries –

Andorra	France	Italy	Portugal
Austria	Germany	Latvia	Romania
Belgium	Gibraltar	Liechtenstein	Slovakia
Bulgaria	Greece	Lithuania	Slovenia
Cyprus	Greenland	Luxembourg	Spain
Czech Republic	Hungary	Malta	Sweden
Denmark	Iceland	Netherlands	Switzerland
Estonia	Ireland	Norway	Turkey
Finland	Israel	Poland	UK

Visa Europe’s headquarters are in London and there are local offices in Athens, Brussels, Frankfurt, Paris, Istanbul, Lisbon, Madrid, Milan, Stockholm, and Warsaw.

For more information:

Visa Europe Corporate Communications

+44 (0) 20 7795 5336

europeanmedia@visa.com

www.visaeurope.com









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American Express Introduces: LoyaltyEdge for Business

American Express Introduces New Line of Business that Extends Loyalty Program Expertise and Services to Strategic Business Partners



NEW YORK--(BUSINESS WIRE)--American Express announced today the launch of a new line of business, LoyaltyEdgeSM from American Express. LoyaltyEdge will work with strategic business partners and merchants to create, implement, and/or enhance their customer loyalty programs in order to help attract and retain customers, thus driving incremental business growth. Long-time strategic partner, Delta Air Lines, is the first to utilize the services of LoyaltyEdge.



“Our expertise and success in the rewards program business spans two decades from our award-winning Membership Rewards program to our cobrand cards,” said Ralph Andretta, executive vice president, Cardmember Services, American Express. “We know that effective loyalty programs help drive customer loyalty and deepen customer relationships. Through the launch of LoyaltyEdge, we are helping business partners build and manage customized rewards programs that will resonate with their customers and give them an edge over the competition in an increasingly challenging and competitive marketplace.”



LoyaltyEdge provides end-to-end services in a one-stop-shop – from designing the rewards program to providing the redemption options and fulfillment to analyzing redemption patterns and behaviors to help inform future marketing strategies. LoyaltyEdge will work with business partners to understand their loyalty program needs and objectives, and identify which offerings best meet those objectives. Then, leveraging American Express’ vast network of partners, capabilities, and unique customer insights, LoyaltyEdge will provide an individually tailored “plug and play” solution for business partners. In turn, business partners will be able to increase customer engagement and satisfaction, while reducing loyalty program costs.

• LoyaltyEdge can deliver a full range of loyalty program services based on partner needs, including:
  
  Valuable customer insights


• Program design and execution


• Expanded loyalty and redemption options as well as fulfillment capabilities


• Customer service solutions


• Targeted and segmented marketing


• Loyalty and cost management analytics

Companies interested in LoyaltyEdge services should email loyaltyedge@aexp.com for additional information.



American Express



American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.  In 2009, for the third consecutive year, American Express was ranked “Highest in Customer Satisfaction with Credit Card Companies” by J.D. Power and Associates.

Security Fears Dog Online Banking

Online banking customers are worried about their financial security but banks are lagging behind, according to a global survey of 4,500 internet users.

• The survey found security concerned 86 per cent of online banking users, compared to just 68 per cent for users of government web sites and 64 per cent for online health care. 



• Four out of five wanted better protection than a simple password.

"Consumers are very much aware of these threats," Seth Geftic, senior manager of Identity Protection and Verification at RSA told V3.co.uk.



"They are not satisfied with simple password. Consumers really and need this security."



He continued that while some European banks were going down the line of two factor authentication UK and US banks were instead relying on risk-based authentication.   These monitor user behavior and apply computer algorithms to usage patterns to try and determine if an account has been compromised. Such systems avoided the 'man in the middle' attacks which could defeat two factor authentication.



Nevertheless internet users are getting more savvy about the threats from phishing and malware. In a similar survey in 2007 63 per cent of respondents were aware of Trojans, but last year that rose to 81 per cent.



The study also looked at the security needs of social networking sites, and found that users were seriously worried about the levels of security there.



"People are asking for more security and have said they would use it," said Geftic.



"A lot of data on social networking sites is used to steal banking information. People have been trained not to answer an email from a bank now, but attacks are more likely to come from social networking."

Visa Inc. Board of Directors Declares Dividend and Approves an Additional Class C Share Release Program

SAN FRANCISCO,  -Payments Industry News Blog- Visa Inc. (NYSE: V) announced that its board of directors had declared a quarterly dividend in the aggregate amount of $0.125 per share of class A common stock (determined, in the case of class B and class C common stock, on an as-converted basis) payable on March 2, 2010, to all holders of record of the Company's class A, class B and class C common stock as of February 12, 2010.



The Company also announced that its board of directors had approved the release of additional class C shares. The number of shares released for any class C shareholder will be the greater of (a) 50% (fifty percent) of the restricted class C shares held by that shareholder as of March 1, 2010, and (b) 5,000 (five thousand) class C shares. Shareholder application will not be required. The shares will automatically become eligible for public sale on March 8, 2010. The remaining restricted class C shares will continue to be subject to the general transfer restrictions that expire on March 25, 2011, under Visa's certificate of incorporation. Class C shares sold in the public market upon release under this program will automatically convert to class A shares. Approximately 56 million class C shares are expected to be released from transfer restrictions. The release of the class C shares will not increase the number of outstanding shares on an as-converted basis of the Company's common stock, and there will be no dilutive effect to the outstanding class A common stock share count on an as-converted basis.



About Visa: Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

Western Union Helps Raise over $1,265,000 to Support Earthquake Relief Efforts in Haiti

ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Company (NYSE:WU), a leader in the money transfer segment of global payments, today announced it has helped raise over $1,265,000 in support of earthquake relief efforts in Haiti.



Western Union in cooperation with its Agents has activated a "No Transfer Fee" program, for a limited time, for money-transfers sent to Haiti from participating Agent locations in the United States, Canada, Dominican Republic, Jamaica and select locations in France.1



The "No Transfer Fee" program, subject to network, service and currency availability, also is available through WesternUnion.com from the United States and Canada.



How Consumers Can Send Money to Haiti

Consumers sending money to Haiti may visit Western Union Agent locations to send a money-transfer to family and friends in Haiti or may do so online www.WesternUnion.com.

For more information about Agent locations that are open and offering services in Haiti consumers may visit www.WesternUnion.com or call in the:

• U.S. 1 800 325-6000 (English and Spanish) or 1 877 984-1726 (Creole)


• Canada 1 800 235-0000 (English and French) or 1 877 984-1726 (Creole)


• Dominican Republic (1-809) 200-7380 (English and Spanish)


• Jamaica (876) 926-2454


• France 08 25 00 98 98.

Western Union and its Agents in Haiti continue to work around-the-clock to reopen additional Agent locations. The earthquake damages have generated a number of infrastructural challenges for businesses operating in the country, and our company continues to work toward restoring service as quickly as possible.



“The damages in Haiti and the need for support are immeasurable,” said Luella Chavez D’Angelo, president The Western Union Foundation. “We will continue to look for ways to work with organizations providing disaster relief efforts in Haiti. Our thoughts are with those affected by this disaster.”



Western Union Programs Supporting Haiti Disaster Relief Efforts Have Helped Raise $1,266,654.

• Through its corporate signature program, Our World, Our Family®, The Western Union Company and The Western Union Foundation have donated $250,000 to help provide basic necessities such as food, safe drinking water, access to sanitation facilities, clothing and temporary shelter through Mercy Corps and Save the Children response teams actively working in Haiti. Additionally, The Western Union Foundation has matched employee and Agent donations for a total of $533,261.
  
  
  
  Collectively, Western Union has directly contributed $783,261 to support disaster relief efforts in Haiti.

• Western Union, through its Foundation, also has activated its Agent Giving Circle, matching one-for-one Agent donations from the region and around the world. To date, Western Union Agents have donated $443,675.


• Western Union employee donations to the Western Union Foundation Haiti Earthquake Relief Fund, matched two-to-one for U.S. based employees and three-to-one for international employees. To date, Western Union employees have donated $39,718.


• Additionally, The Western Union Company has set up a special account in the U.S. – MERCYCORPS, OR – benefitting Mercy Corps in support of disaster relief efforts in Haiti. Consumers in the U.S. can donate by sending a no fee money transfer, using the Western Union Quick Collect service, directed to the Mercy Corps account, for up to $5,000 over the next 30 days, concluding February 11, 2010, by visiting a Western Union Agent location.

¹ For a limited time, Western Union is not charging a transfer fee for remittances from selected locations in the U.S., Canada, the Dominican Republic, Jamaica and France to Haiti. However, if there is a conversion of currency, the conversion may result in a foreign exchange gain, which is retained by Western Union and its Agents. Western Union pays out in US dollars in Haiti.

About Western Union

The Western Union Company (NYSE:WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta and Pago Facil branded payment services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. Western Union, Vigo and Orlandi Valuta operate through a combined network of more than 400,000 Agent locations in 200 countries and territories. In 2008, The Western Union Company completed 188 million consumer-to-consumer transactions worldwide, moving $74 billion of principal between consumers, and 412 million consumer-to-business transactions. For more information, visit www.westernunion.com.

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American Express Reports Fourth Quarter EPS from Continuing Operations of $0.59, up from $0.26 a Year Ago

NEW YORK--(BUSINESS WIRE)--American Express Company (NYSE: AXP) today reported fourth-quarter income from continuing operations of $710 million, up 132 percent from $306 million a year ago. Diluted earnings per share from continuing operations were $0.59, up 127 percent from $0.26 a year ago.

(Millions, except per share amounts)
		Quarters Ended December 31,								Percentage Inc/(Dec)		Years Ended December 31,								Percentage Inc/(Dec)
		2009				2008						2009				2008
Total revenues net of interest expense		$	6,489			$	6,506			-		$	24,523			$	28,365			(14)
Income From Continuing Operations		$	710			$	306			#		$	2,137			$	2,871			(26)
Income (Loss) From Discontinued Operations		$	6			$	(66	)		#		$	(7	)		$	(172	)		(96)
Net Income		$	716			$	240			#		$	2,130			$	2,699			(21)
Earnings Per Common Share - Diluted:
Income From Continuing Operations Attributable to Common Shareholders1		$	0.59			$	0.26			#		$	1.54			$	2.47			(38)
Income (Loss) From Discontinued Operations		$	0.01			$	(0.05	)		#		$	-			$	(0.15	)		#
Net Income Attributable to Common Shareholders		$	0.60			$	0.21			#		$	1.54			$	2.32			(34)
Average Diluted Common Shares Outstanding			1,184				1,155			3			1,171				1,156			1
Return on Average Equity			14.6	%			22.3	%					14.6	%			22.3	%
Return on Average Common Equity			13.6	%			22.1	%					13.6	%			22.1	%
# Denotes a variance of more than 100%.

				1		Represents income from continuing operations or net income, as applicable, less:
						(i)		accelerated preferred dividend accretion of $212 million for the year ended December 31, 2009 due to the repurchase of $3.39 billion of preferred shares issued as part of the Capital Purchase Program (CPP),
						(ii)		preferred share dividends and related accretion of $94 million for the year ended December 31, 2009, and
						(iii)		earnings allocated to participating share awards and other items of $9 million and $1 million for the three months ended December 31, 2009 and 2008, respectively, and $22 million and $15 million for years ended December 31, 2009 and 2008, respectively.

New York – January 21, 2010 - American Express Company (NYSE: AXP) today reported fourth-quarter income from continuing operations of $710 million, up 132 percent from $306 million a year ago. Diluted earnings per share from continuing operations were $0.59, up 127 percent from $0.26 a year ago.



Net income totaled $716 million for the quarter, up 198 percent from $240 million a year ago. Diluted per-share net income of $0.60 was up 186 percent from $0.21 a year ago.



Consolidated revenues net of interest expense were $6.5 billion, on par with the year-ago quarter.



Consolidated provisions for losses totaled $748 million, down 47 percent compared to $1.4 billion in the year-ago period. The decline reflected continued improvement in credit quality during the latter part of 2009.



Consolidated expenses totaled $4.8 billion, on par with the year- ago quarter. This quarter’s results reflected higher investment in business building initiatives and the benefits of the company’s reengineering initiatives. The year-ago quarter included a significant reengineering charge.



The company's return on average equity (ROE) was 14.6 percent, down from 22.3 percent a year ago.



“We ended the year on a positive note with cardmember spending up 8 percent and credit indicators showing further signs of improvement,” said Kenneth I. Chenault, chairman and chief executive officer.



“Fourth quarter results reflected the diversity of our business model that includes issuing cards, building business for merchants, operating a global payments network and delivering high-value services to our customers. Earnings were well above the depressed levels of 2008, capping a year when we delivered on each of our three main priorities. We stayed consistently profitable, built a more liquid funding base and invested selectively in the business.



“This progress, and the underlying strength of our franchise allowed us to maintain our dividend at a time when many others cut or eliminated their quarterly payment to shareholders.”



“We still face the challenge of high unemployment levels, depressed real estate values, and shrunken household balance sheets, but the overall economy and our company are in stronger shape than they were a year ago.



“While the economic recovery now underway is likely to be modest, we expect it to continue and have begun to shift our focus to growing American Express for the longer term.”



“We aim to extend our payments business, offer new fee based services, and accelerate our progress in the world of emerging payments. At the same time, we will focus on creating a more efficient cost structure and delivering superior service that strengthens our relationships with cardmembers, merchants and business partners. We continue to see opportunities to extend our market leadership and distinguish American Express from its competitors.”



During the fourth quarter, non-U.S. revenues, provisions and expenses were higher due to the translation effects of a comparatively weaker U.S. dollar.



Significant items in the year-ago fourth quarter included:

• $421 million ($273 million after-tax) of reengineering costs, primarily related to severance and other costs associated with staff reductions, and


• a $106 million ($66 million after-tax) increase in the company’s Membership Rewards reserve, in connection with the company’s extension of its partnership agreement with Delta Air Lines.

Discontinued operations





Discontinued operations for the fourth quarter generated a gain of $6 million compared with a loss of $66 million during the year-ago period, which primarily reflected mark-to-market adjustments within the American Express International Deposit Company investment portfolio.



Segment Results



U.S. Card Services reported fourth-quarter net income of $365 million, up from $64 million a year ago.



Total revenues net of interest expense for the fourth quarter decreased 4 percent to $3.1 billion, driven by lower commissions and fees, as well as lower net card fees, partially offset by slightly higher discount revenue.



Provisions for losses totaled $346 million compared to $1.1 billion in the year-ago period. The provision for the current quarter reflected lower loan volumes and improvements in charge card and lending credit trends. On a managed basis1 the net loan write-off rate was 7.5%, down from 8.9% in the third quarter and up from 6.7% a year ago. Owned net write-offs were 8.0% in the quarter, down from 9.8% in the third quarter and up from 7.0% a year ago.



Total expenses increased 3 percent. Marketing, promotion, rewards and cardmember services expenses increased 8 percent from the year-ago period, driven by higher investment spending on marketing initiatives and higher rewards costs. Salaries and employee benefits and other operating expenses decreased 3 percent from the year-ago quarter, which included a reengineering charge.



International Card Services reported fourth-quarter net income of $73 million, up from $36 million a year ago.



Total revenues net of interest expense increased 11 percent to $1.2 billion, driven by increased cardmember spending, increased net interest income and higher net card fees.



Provisions for losses rose 33 percent to $324 million from $243 million a year ago, reflecting higher reserve levels.



Total expenses decreased 5 percent. Marketing, promotion, rewards and cardmember services expenses increased 23 percent from year-ago levels, driven by increased marketing investments and higher volume-related rewards costs. Salaries and employee benefits and other operating expenses decreased 19 percent from the year-ago quarter, which included a reengineering charge.



Global Commercial Services reported fourth-quarter net income of $117 million compared to a net loss of $7 million a year ago.



Total revenues net of interest expense increased 6 percent to $1.1 billion, reflecting increased spending by corporate cardmembers.



Provisions for losses totaled $37 million, down 46 percent from $69 million a year ago.



Total expenses decreased 12 percent. Marketing, promotion, rewards and cardmember services expenses increased 24 percent from the year-ago period, reflecting higher rewards costs. Salaries and employee benefits and other operating expenses decreased 15 percent from the year-ago quarter, which included a higher reengineering charge.



Global Network & Merchant Services reported fourth-quarter net income of $185 million, down from $215 million a year ago.



Total revenues net of interest expense increased 7 percent to $1 billion, reflecting higher merchant-related revenues, as well as an increase in revenues from Global Network Services’ bank partners.



Total expenses increased 11 percent, driven by increased brand and merchant-related marketing investments. Salaries and employee benefits and other operating expenses decreased 4 percent from the year-ago period, which included a higher reengineering charge.



Corporate and Other reported a fourth-quarter net expense of $30 million, compared with a net expense of $2 million last year. The results for both periods reflected income of $220 million ($136 million after-tax) for the previously announced MasterCard and Visa settlements. This quarter reflected in part a $63 million real estate expense related to certain lease exit costs and the impact of higher interest expense. The year-ago quarter included a reengineering charge.



American Express Company is a leading global payments and travel company founded in 1850. For more information, visit www.americanexpress.com.



The 2009 Fourth Quarter Earnings Supplement will be available today on the American Express web site at http://ir.americanexpress.com. An investor conference call will be held at 5:00 p.m. (ET) today to discuss fourth-quarter earnings results. Live audio and presentation slides for the investor conference call will be available to the general public at the same web site. A replay of the conference call will be available later today at the same web site address.

Middle East Payment Services Selects Trustwave for PCI DSS Compliance Validation

SOURCE: Trustwave

  

CHICAGO, IL and AMMAN, JORDAN--(Marketwire - January 19, 2010) - Middle East Payment Services, a company dedicated to issuing and accepting mainly MasterCard payment cards, has selected Trustwave to provide Payment Card Industry Data Security Standard (PCI DSS) compliance validation services. Trustwave is the leading provider of on-demand data security and payment card industry compliance management solutions to businesses and organizations throughout the world.



PCI DSS is the payment card industry security requirement for entities that store, process or transmit cardholder data, and has been endorsed by several major card brands -- Visa Inc., MasterCard Worldwide, Discover Network, American Express and JCB.



To validate compliance with the PCI DSS, Middle East Payment Services will have to demonstrate compliance with 12 security requirements by thoroughly reviewing its IT environment and information security policies and procedures. Middle East Payment Services has enrolled in Trustwave's on-demand compliance management solution TrustKeeper® to access the necessary automated tools to support on-going compliance such as quarterly network vulnerability scans. Trustwave will also remediate any vulnerabilities to help ensure secure transactions for all the customers using their payment gateway.



"We understand that protecting card holder data is imperative for our organization and we're proud to be one of the first service providers to initiate the PCI DSS compliance validation process," says Naser Abu Ghazaleh, General Manager at Middle East Payment Services. "Trustwave has the expertise and technology to help secure our organization and their local presence, along with the support of their Middle East partner Dima Solutions, will help us through that process."



"Initiating PCI DSS compliance validation is just another example of the leadership role taken by Middle East Payment Services," says Robert J. McCullen, chairman and CEO of Trustwave. "Through our partnership, Middle East Payment Services will utilize the latest security solutions that are proven to help mitigate risk, secure their network environment and protect their customers' data." "As the threat landscape continues to change, it's clear that security is critical to Middle East Payment Services," says Fayyaz Makhani, regional manager for Trustwave. "Trustwave's full suite of technology solutions will help protect cardholder data and maintain their compliance validation with the PCI DSS."

Visa Inc. Announces Results of Annual Meeting Stockholder Vote

SAN FRANCISCO, Jan. 20 /PRNewswire-FirstCall/ -- Visa Inc. (NYSE: V) today held its annual meeting of stockholders in San Francisco, California.



The Company is pleased to announce that the stockholders approved the following:

• The election of Robert W. Matschullat, Cathy E. Minehan, David J. Pang, William S. Shanahan and John A. Swainson as Class III Directors to serve on the Company's board of directors until the Company's annual meeting in 2013; and


• The ratification of the appointment of KPMG LLP as the Company's independent registered public accounting firm for fiscal year 2010.

About Visa: Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.