VISA Inc. - V STOCK NEWS

Visa has successfully completed its acquisition of Tink, an open banking platform connecting over 3,400 financial institutions in Europe. This strategic move aims to enhance Visa's digital offerings, enabling clients to provide better financial management tools and services to consumers. Tink's integration is expected to bolster Visa's infrastructure, promoting innovation in digital financial services globally. Tink will operate as a standalone subsidiary, continuing under the leadership of its current CEO, Daniel Kjellén.

The Ford Foundation, Visa Foundation, and Fairview Capital have announced an expanded partnership to support the Fairview Foundations Emerging Managers Fund. This initiative focuses on investing in diverse and women-owned venture capital and private equity firms. With less than 1% of over $70 trillion managed by minority-owned asset management firms, the fund aims to create substantial opportunities for institutional investors. Fairview Capital has a successful track record of nearly 30 years in this area, managing over $10 billion in assets.

Visa Inc. (NYSE:V) has announced the immediate suspension of its operations in Russia due to the ongoing conflict in Ukraine. The move will see Visa cease all transactions within Russia, affecting cardholders and merchants. Visa's actions align with its corporate values in response to the unacceptable circumstances stemming from Russia's invasion of Ukraine. This decision impacts Visa's presence in the Russian market significantly, limiting the use of Visa cards issued in Russia abroad and vice versa.

Visa (NYSE: V) has appointed Frank Cooper III as its new Chief Marketing Officer (CMO) effective May 2022. Cooper, who previously served at BlackRock, brings extensive experience in marketing leadership across various industries. He will be part of Visa's Executive Committee and report to CEO Al Kelly. His role includes driving demand for Visa's products and enhancing the brand's global presence. Cooper's credentials include notable positions at BuzzFeed and PepsiCo, along with accolades recognizing his creativity and leadership.

Visa has launched the Minority Depository Institutions Accelerate program, committing up to $100 million to enhance lending through deposits with MDIs. The initiative aims to address economic disparities in communities of color across the U.S.. In addition to financial support, Visa will provide MDIs with digital tools, insights, and resources to better serve underserved populations. This program is part of Visa's mission to improve economic outcomes and empower minority communities while potentially adding $1.5 trillion to the U.S. GDP by 2028.

Visa Inc. (NYSE: V) announces its participation in several investor conferences in March 2023. On March 3, Jack Forestell will speak at the Evercore ISI Payments & FinTech Innovators Forum at 11:00 AM ET and Ryan McInerney at the KBW FinTech & Payments Conference at 4:10 PM ET. On March 8, Alfred Kelly will present at the Wolfe FinTech Forum at 8:20 AM ET and the RBC Financial Institutions Conference at 12:15 PM ET. Finally, on March 10, Vasant Prabhu will present at the Morgan Stanley Technology, Media & Telecom Conference at 8:00 AM PT.

i2c Inc. is hosting a virtual roundtable on February 23, 2022, to discuss the growing trend of in-house credit card issuing. The webinar will feature panelists from Visa, Aite-Novarica, and Community Bank of the Chesapeake, focusing on strategies for small- to mid-sized banks to profitably issue credit cards. Key topics include buy now pay later trends, self-issuance benefits, and a case study showcasing Community Bank of the Chesapeake's success in credit-issuing.

Visa (NYSE: V) announced a decline in its U.S. Spending Momentum Index (SMI), which fell to 102.4 in January, down from 109.4 in December, indicating a decrease in consumer spending momentum due to rising COVID-19 cases. Despite this, consumer demand remains resilient, and spending is expected to improve in upcoming months. All four U.S. regions recorded a decrease in SMI, with the West having the strongest reading at 106.1. The SMI for discretionary purchases dropped to 100.6, while non-discretionary purchases fell to 97.4.