Small Businesses Score Big on Super Bowl Sunday with Visa Offer

Rhea-AI Summary

On Super Bowl Sunday, Visa (NYSE: V) is launching a special offer aimed at small businesses, providing over $10,000 in value by waiving monthly and transactional fees for new Signups through Authorize.net from February 7. This initiative supports small businesses moving towards digital payment systems, especially as 82% have adjusted operations for digital payment demands. Visa’s programs include distributing contactless tools and supporting Black-owned businesses affected by COVID-19, reinforcing its commitment to empowering the small business community.

Positive

• Visa is waiving monthly and transactional fees for the first 100,000 new customers signing up on February 7, offering over $10,000 in value.
• The initiative aims to help small businesses adapt to digital payment systems, catering to the 82% that have shifted their operations post-pandemic.
• Visa’s commitment includes distributing contactless point-of-sale toolkits and digital transformation tips to over 2,500 businesses in Tampa.

Negative

• None.

On Super Bowl Sunday, Visa (NYSE:V), the official payment technology partner of the National Football League, will change the game for the small business community with a one-day offer that will eliminate some of the costs associated with getting online and accepting digital payments – a value of over $10,000 per small business.

Visa’s small business digital payment management platform, Authorize.net, is waiving its monthly gateway fee for the life of an account along with its transactional fees for the first 100,000 transactions of new United States and Canada customers signing up on February 7^th. The sign up process can only take a few minutes and Authorize.net works with a wide array of banks and credit unions to make the onboarding easier, alleviating another hurdle for businesses in their demanding routine. Visa’s Authorize.net offer can help aid businesses bottom line and enable increased revenue by opening new digital payment streams.

Since the pandemic, 82%¹ of small businesses have adjusted the way they operate their business to meet the increasing demand for digital payments, led by selling online (43%) and accepting contactless payments (39%). However, many businesses face barriers in accessing resources that will enable long-term growth. Visa’s Authorize.net solution helps businesses create flexible, creative digital commerce solutions to help them fast track and grow, whether they need help digitizing payments, establishing an online presence, preventing fraud, or streamlining operations.

“The resiliency of small businesses is inspiring, but there is work to do to help them recover and thrive. The Authorize.Net offer extends Visa’s commitment to digitally enable businesses and helps alleviate burdens by minimizing some recurring operational costs,” said Carleigh Jaques, senior vice president and general manager of Visa’s Authorize.net. “While we have rallied behind our small businesses all season, Super Bowl Sunday is an opportunity to give small businesses support that could last a lifetime.”

The Authorize.net offer is the culmination of Visa’s season-long commitment to support small businesses as part of its partnership with the NFL:

• To help the local Tampa small business community prepare for the big game:
  • Visa’s Street Teams visited over 2,500 small business in Tampa to distribute contactless point-of-sale tool kits and digital transformation tips –part of Visa’s commitment to help digitally enable 50 million global small businesses.
  • Visa, through its partnership with the NFL, is donating 20 Super Bowl tickets to Black Girl Ventures who will give them to 10 local Black woman-owned small businesses in the Tampa/Miami area. In addition, Visa, is also working with national nonprofit GENYOUth to donate 50 Taste of NFL @Home tickets to Black Girl Ventures to give to additional local Black woman-owned small businesses.
• From 2020 NFL Draft through the regular season, Visa’s marketing campaigns focused on encouraging fans that where you shop matters, with a focus on Black-owned businesses that have been disproportionately affected by COVID-19.
  • In the lead up to Super Bowl, Visa will debut a new ad spot ‘Home Team’ featuring NFL player, Saquon Barkley, supporting his local small business and encouraging fans to do the same.
• Visa teamed up with the San Francisco 49ers, New York Jets and New York Giants to give away grants totaling $60,000 to support Black-owned small businesses in the New York and Santa Clara, Calif., area that have been impacted by COVID-19.

For more information on how Authorize.Net can help small businesses with their digital transformation and to take advantage of this one day offer, visit Authorize.Net and sign up on February 7^th.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.

¹ Visa’s Back to Business Study, January 2021

View source version on businesswire.com: https://www.businesswire.com/news/home/20210202005445/en/

FAQ

What is Visa's special offer for small businesses on February 7?

On February 7, Visa will waive monthly and transactional fees for the first 100,000 new customers through Authorize.net, providing a value of over $10,000.

How is Visa supporting small businesses during the pandemic?

Visa is helping small businesses adapt to digital payments by offering fee waivers and distributing contactless payment tools and tips.

What percentage of small businesses have adjusted for digital payments?

According to Visa, 82% of small businesses have changed their operations to meet the demand for digital payments since the pandemic.

What is Authorize.net's role in Visa's small business initiative?

Authorize.net is Visa's digital payment management platform that will waive fees for new customers, aiming to facilitate online and digital payment acceptance.

What additional support is Visa providing to Black-owned businesses?

Visa is donating Super Bowl tickets and grants to support Black-owned businesses affected by COVID-19 as part of its initiatives during the Super Bowl season.