VISA Inc. - V STOCK NEWS

Visa partners with Thunes to enable cross-border send-to-wallet services for small businesses and consumers. The collaboration allows transfers to 78 digital wallet providers, reaching 1.5 billion wallets across 44 countries. Visa Direct now connects to nearly 7 billion endpoints, facilitating greater financial inclusion, particularly for unbanked individuals in emerging markets. The partnership enhances access to financial services, supporting transactions across Africa, Asia, and Latin America, as digital wallets become increasingly popular.

Visa (NYSE: V) has launched the Visa Ready Creator Commerce program, designed to support the rapidly growing creator economy. By providing tools such as faster payouts via Visa Direct and enhanced tipping options, Visa aims to empower over 50 million creators. The creator economy is projected to reach $1.2 trillion in social commerce by 2025. Collaborations with industry leaders like Linktree and Marqeta will help streamline financial solutions. This initiative continues Visa's commitment to enhancing the ecosystem for entrepreneurs within the creator community.

Visa Inc. (NYSE: V) appointed Kermit R. Crawford to its board of directors on October 7, 2022. Crawford, a seasoned executive with 30 years of leadership experience, previously served as president and COO of Rite Aid and held key positions at Walgreens Boots Alliance. His expertise in consumer insights, business strategy, and financial management will be valuable to Visa. With this addition, Visa's board now consists of 12 members. The company continues to lead in digital payments globally, facilitating transactions across over 200 countries.

Visa Inc. (NYSE: V) is set to release its fiscal fourth quarter and full-year 2022 financial results on October 25, 2022, after market close. The company will provide a comprehensive overview of its financial performance and key business metrics on its Investor Relations website. Following the results announcement, an audio webcast will occur at 2:00 p.m. Pacific Time. Visa is currently in a "quiet period" until the earnings report is publicly disclosed, which typically limits executive interactions with investors.

FTX has partnered with Visa to launch FTX account-linked Visa debit cards in over 40 countries, beginning with Latin America, and extending to Europe and Asia. This initiative aims to provide FTX users with the ability to use their crypto balances for purchases globally. The cards, already available in the U.S., enable seamless spending at 80 million merchant locations without administrative fees. FTX CEO Sam Bankman-Fried expressed enthusiasm for enhancing user access to crypto for daily transactions.

Visa Inc. (NYSE: V) has reported an increase in both online and offline fraud as consumer activities return to pre-pandemic levels. According to their Biannual Threats Report, physical skimming devices surged by 176% from June to November 2021. The report highlights that 74% of fraud cases involved e-commerce merchants, with cybercriminals employing tactics like social engineering and ransomware attacks. Visa continues to combat these threats, having invested over $9 billion in network security and utilizing AI to block over $4.2 billion in fraudulent transactions in the past year.

Uber (NYSE: UBER) and Visa (NYSE: V) announced the Grants for Growth program, providing $1 million in funding to support small businesses in 10 U.S. cities through the Local Initiatives Support Corporation (LISC). 100 merchants received $10,000 each to address immediate operational needs. Notably, 92% of recipients were entrepreneurs of color and 69% were female-owned. The initiative aims to assist restaurants as they recover from pandemic challenges, focusing on minority, veteran, and women business owners.

Visa (NYSE: V) has launched a new global version of the Financial Soccer game, blending entertainment and financial education. Designed to engage players through FIFA World Cup excitement, the game enables participants to enhance their financial literacy by answering money management questions. With features like multiple team selections, personal finance modes, and mobile accessibility, Visa aims to make financial education entertaining. The initiative, available in over 100 markets, underscores Visa's commitment to improving financial literacy, especially among underserved populations.

On September 21, 2022, GM Sectec and Visa announced an enhanced partnership aimed at improving cybersecurity and fraud prevention in Latin America and the Caribbean. The collaboration focuses on providing payment management services bolstered by GM Sectec's cybersecurity expertise. With a surge in digital payments, 73% of small businesses view adopting new payment methods as crucial for growth. The partnership includes ongoing education initiatives like PaySec Talks to raise awareness about cybersecurity strategies and best practices.