VISA Inc. - V STOCK NEWS

Visa's "Back to Business Study – 2021 Outlook" reveals significant shifts in small and micro businesses (SMBs) towards digital commerce post-Covid-19. By the end of 2020, 82% of SMBs embraced new digital technologies, with a focus on security, mobile payments, and fraud prevention. Key findings include a rise in contactless payments, with 39% of SMBs adopting them and 74% expecting continued consumer preference. The response to fraud is crucial, with 52% of tech-savvy owners investing in security. Visa aims to digitally empower 50 million SMBs through new programs and resources.

Visa (NYSE: V) and Plaid have officially terminated their merger agreement and agreed to dismiss related litigation with the Department of Justice. Originally announced on January 13, 2020, the merger aimed to enhance Visa's offerings through Plaid's complementary capabilities. CEO Al Kelly expressed confidence in the benefits the merger would have brought but acknowledged the extensive time required to resolve the litigation. Both companies will shift focus to their respective growth strategies, with Visa continuing to expand consumer payments and value-added services, while Plaid emphasizes supporting fintech infrastructure.

Visa announced the appointment of Kelly Mahon Tullier as Executive Vice President and Chief Legal and Administrative Officer, expanding her role to include Global Communications and Corporate Services. Tullier, who has been with Visa since 2014, replaces her position as General Counsel with Julie Rottenberg, previously Deputy General Counsel and Chief Counsel for North America. Both leaders bring extensive experience, with Tullier previously at PepsiCo and Rottenberg at Arnold & Porter. This strategic move aims to enhance Visa's legal and compliance framework while advancing its business interests.

Visa Foundation has committed nearly $5 million to support minority-led small and micro businesses (SMBs) amid the COVID-19 pandemic. This investment includes $3 million to the Black Ambition initiative, $1.5 million to Local Initiatives Support Corporation for women entrepreneurs of color, and $300,000 to VC Include. A new white paper from Visa Economic Empowerment Institute reveals a 41% drop in ownership among Black and African American-owned businesses. Visa aims to close the capital gap for entrepreneurs of color, ensuring inclusive economic growth.

Visa Inc. (NYSE: V) announced the appointment of Linda J. Rendle to its Board of Directors, effective November 23, 2020. Ms. Rendle, who is the CEO of The Clorox Company, brings nearly 20 years of experience in senior operational and executive roles. Her leadership and expertise in global product development are expected to enhance Visa's strategic initiatives. This appointment increases the total number of board members to 12. Al Kelly, Visa's CEO, expressed confidence that Ms. Rendle's operational experience and commitment to ESG initiatives will greatly benefit Visa’s future growth.

Visa (NYSE: V) has announced a strategic partnership with Conferma Pay to launch Visa Commercial Pay, a suite of B2B payment solutions aimed at enhancing cash flow and modernizing payment processes for businesses. The offering includes features such as on-demand virtual card issuance through a mobile app for employees, automated payment processing, and enhanced spend visibility. This initiative aims to address payment inefficiencies exacerbated by the pandemic, providing businesses with better control over their finances and improving the payment experience for all stakeholders.

Visa (NYSE: V) has acquired YellowPepper, a fintech pioneer in Latin America and the Caribbean. This strategic acquisition enhances Visa’s 'network of networks' strategy, offering a single access point for multiple transaction types. YellowPepper’s platform supports issuers and processors with APIs for quick and secure payment solutions. The integration will reduce costs and expedite the launch of financial services, expanding Visa's value-added services, including tokenization and identity validation. This move positions Visa to better serve governments, banks, and consumers.

Visa and the NFL have partnered to create a cash-free experience for Super Bowl LV, implementing 100% digital payment acceptance throughout the stadium. This initiative supports a safer environment for fans amid the ongoing COVID-19 pandemic. Visa has also introduced a guide for venues to adopt touchless payments, highlighting benefits like increased revenue and enhanced efficiency. With over 75% of consumers seeking contactless payment methods, this transition aims to elevate fan experiences at live events.

Visa Inc. (NYSE: V) has launched the Visa Economic Empowerment Institute (VEEI), aimed at enhancing economic empowerment globally through research and dialogue on payments policy. VEEI will focus on three key areas: Digital Equity and Inclusion, Growth through Trade, and Open Future for Payments. Led by Dr. Barbara Kotschwar, the institute aims to address systemic inequities and foster connections between public and private sectors. It also released foundational papers highlighting challenges in digital connectivity, trade agreements, and cybersecurity in payment innovations.