Visa Expands Loyalty Offers and Access to Innovative Products to Support Small Business Growth

Rhea-AI Summary

Visa announces impactful Instant Savings offers for small businesses in North America, providing savings and discounts on business-related services and goods. Revenue growth for small businesses in North America has exceeded forecasts, with 77% of surveyed U.S. businesses projecting revenue growth for 2023. Concerns for small businesses include inflation, economic uncertainty, and interest rates. Visa's Instant Savings program features 40+ discounted offers from various merchants.

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• Visa announces impactful Instant Savings offers for small businesses in North America, providing savings and discounts on business-related services and goods. Revenue growth for small businesses in North America has exceeded forecasts, with 77% of surveyed U.S. businesses projecting revenue growth for 2023. Visa's Instant Savings program features 40+ discounted offers from various merchants.

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Unlocks value and opportunities in a complex economic environment

SAN FRANCISCO--(BUSINESS WIRE)-- Visa Inc. (NYSE: V) today announced impactful Instant Savings offers for small businesses (SMBs) across North America, comprised of industry-leading tools and resources aimed at enabling small businesses to grow and meet the expectations of their customers. Through the Visa SavingsEdge™ website, eligible Visa Small Business cardholders can unlock savings and discounts on business-related services and goods, including offers from Dropbox, Microsoft and Verizon.

For many North America small businesses, revenue growth has exceeded forecasts so far this year. According to a recent Visa Small Business Pulse Report, 77% of surveyed U.S. businesses now project revenue growth for 2023, up from 72%, when surveyed in January. In Canada, 67% of surveyed businesses now project revenue growth for 2023, up from 58% when surveyed during the same time period. However, maintaining a business remains expensive, especially in an ever-changing economic landscape: 72% of respondents in the U.S. and 76% in Canada say they are trying to spend less. Top concerns include:

• Inflation: 82% in the U.S. and 87% in Canada
• Economic uncertainty: 77% in the U.S. and 78% in Canada
• Interest rates: 73% in the U.S. and 77% in Canada

“We’re seeing that small business growth is on the rise, despite current macroeconomic challenges,” said Veronica Fernandez, SVP and North America Head of Visa Commercial Solutions. “We also understand that there is a continued need for new, innovative ways to enable cost savings across the small business landscape. With Visa’s innovative offers and seamless access to run-of-business applications, the value associated with a business card becomes exponentially stronger, enabling small businesses to experience significant cost savings and efficiency.”

The Instant Savings program features 40+ discounted offers that do not require enrollment and can be redeemed instantly on select merchant websites. Valuable opportunities for Instant Savings include:

• Dropbox: Cardholders can stay organized, align on business priorities and remain focused on their most important work with Dropbox. Cardholders are eligible to get 40% off Dropbox Standard or Advanced.
• Finagraph CashFlowTool: Connects to all QuickBooks versions so small businesses can instantly see future forecasts in seconds with an interactive chart, cash flow calendar, what-if scenarios and dashboard KPIs. Cardholders can currently save 70% on CashFlowTool Pro.
• Indeed: Cardholders can hire the right person faster by signing-up for an Indeed employer account to earn a $200 sponsored job credit to put towards job postings.
• Microsoft: Cardholders can enable their teams with devices that offer flexibility, power, and style. Cardholders can enjoy up to 20% savings on select Microsoft Surface for Business devices at the Microsoft Store.
• Verizon Wireless: Cardholders can get a one-time $69 bill credit with the online purchase of a new 5G Business Internet (100 Mbps) or LTE Business Internet (10 Mbps) line of service by 12/31/2023.
• Visme: Cardholders can design, store, and share beautiful, engaging content using one single design and presentation tool. Cardholders are eligible to save 25% on Visme’s Starter and Pro Annual Plans.

The Visa SavingsEdge program also provides eligible and enrolled Visa Business cardholders with automatic discounts on qualifying purchases at participating merchants. These Everyday Savingsⁱ are card-linked offers applied as credits to cardholders’ future statements. U.S. and Canadian Small Business cardholders can now take advantage of Everyday Savings from 50+ merchants, when they enroll their card in the program.

To find out more about or redeem Visa Business cardholder offers, visit Visa SavingsEdge. To learn more about Visa’s small business resources, including advice and tools to help run and grow a small business, visit the Visa Small Business Hub.

Visa’s Small Business Report is a quarterly study run by the Maru Group in partnership with Visa. Data in the report is taken from 594 United States and 780 Canadian Small Business Leaders who were surveyed in June and July 2023. “Small Business” is defined as those with fewer than 100 employees and less than $25 Million in Revenue. “Business Leaders” are defined as at least senior decision makers with the business, including eight-in-ten who are the business’ primary owner. Responses come from across the United States and Canada and represent a mix of revenue bands, business tenure, industry, etc.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

ⁱ Everyday Savings offers require enrollment in the Visa SavingsEdge program

View source version on businesswire.com: https://www.businesswire.com/news/home/20231024936313/en/

David Thum

dthum@visa.com

Source: Visa Inc.

FAQ

What are the Instant Savings offers announced by Visa?

Visa has announced Instant Savings offers for small businesses in North America, providing savings and discounts on business-related services and goods.

What is the revenue growth projection for small businesses in North America?

77% of surveyed U.S. businesses project revenue growth for 2023.

What are the top concerns for small businesses?

The top concerns for small businesses include inflation, economic uncertainty, and interest rates.

How many discounted offers are included in Visa's Instant Savings program?

Visa's Instant Savings program features 40+ discounted offers from various merchants.