VISA Inc. - V STOCK NEWS

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.

Visa Inc. (NYSE: V) will participate in two upcoming virtual investor conferences. On December 1, Group President Oliver Jenkyn will present at the Wells Fargo Securities TMT Summit at 12:00 p.m. ET, lasting approximately 30 minutes. The next day, Vice Chairman Vasant Prabhu will speak at the Credit Suisse 24th Annual Technology Conference, starting at 11:30 a.m. ET for about 40 minutes. Audiovisual replays will be available on their Investor Relations website for 30 days after the events.

Visa (NYSE: V) has expanded its fintech Fast Track program to support digital money management, introducing a Partner Toolkit and Visa Ready certification for Fintech Enablers. The toolkit aids fintechs in accelerating growth with resources like online licensing and marketing strategies. The Visa Ready program connects fintechs with certified partners for payment solutions. Fast Track participation has surged 360% year-over-year, with hundreds of fintechs joining. Collaborations with companies like PayPal and digital wallets enhance Visa's mission of advancing financial inclusion and transforming payment experiences globally.

Visa Inc. (NYSE:V) has responded strongly to the Department of Justice's (DOJ) attempt to block its acquisition of Plaid, asserting that the DOJ's actions are legally flawed. Visa emphasizes that Plaid is not a competitor in the payments space but a data network that enhances consumer financial management. The merger aims to provide consumers with improved digital experiences and greater access to financial-related services. Visa remains confident that the acquisition is beneficial for both consumers and competition within the industry.