Ken Research’s Visa Inc.: FinTech Ecosystem gives insights of the fintech strategies used by Visa. The report gives key insights of the company, its business description, accelerator programs, partnerships and other in-house launches. Visa has mainly focused on m-commerce and authentication solution to increase its revenue. The key companies that Visa has partnered for its technological and commercial expansions are Chain, Stripe, Klarna, UnionPay and Accenture.
Visa Inc is an American financial services multinational giant which operates all over the world, across all the continents except Antarctica. It facilitates electronic payments through credit cards, debit cards and gift cards. Visa Inc has its headquarters in San Francisco, United States and all the Visa transactions are processed through VisaNet at one of the two available secure facilities- one near Ashburn, Virgina and the second near highlands Ranch, Colorado. Both these centres are highly secured against cyber crime, terrorism and natural disasters and are facilitated to operate independent of each other. All the transactions pass through several fraud- detection parameters like the location and spending habits of the customer and the merchant’s location before transactions get processed. Visa connects businesses, customers, banks and governments of over 200 countries and is constantly increasing the commerce globally. In the recent past, Visa has made various acquisitions of companies in technology and payment sector followed by security and analytics solutions.
Visa in the past has partnered with various technology companies all across the globe to benefit from their technology to diversify and better the consumer experience. The company is also famous for its innovative programs and initiatives. Visa has nearly six Innovation Centres across the globe – San Francisco, Sao Paolo, Singapore, Bangalore, Dubai and Miami. These Innovation Centres collaborate with local players and start-ups to diversify their services locally and adapt to the local market to cater a larger market. Visa has also included students and start-ups in disrupting technology. Visa visits colleges for internships to find new digital payments solutions. The company conducts co-creation sessions with customers, businesses and partners who help in identifying the problems faced by the stakeholders. It then ropes in accelerators, start-ups and interns to find innovative solutions. Innovation Studio of Visa is a centre with activities to approach their customers – banks, payment providers, and commerce; which now has the fourth element as FinTechs. As a part of its ‘Visa ready for Transit’ program, Visa had partnered with 16 technology companies across 10 countries.
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Ankur Gupta, Head Marketing & Communications