Visa, long known as a payment services brand, is investing in products and services that create easier, safer, and more innovative transaction experiences. Such efforts are not only helping to reposition Visa as a global payment technology brand, but have also driven its brand value upward by 15 percent.
As it strives to establish itself as the leading global payments technology company, Visa has worked with mobile payment entrants such as Apple Pay, Samsung Pay, and Android Pay—helping to ensure the best experience for partners and consumers. Since launching in July 2014, Visa Checkout, a digital payment service designed to simplify checkout experiences, has accrued more than seven million registered users, more than 470 financial institution partners, and over 250,000 registered merchants throughout 16 countries. Visa Checkout is also featured in Visa’s proof-of-concept connected car. At the Mobile World Congress Barcelona in March 2015, Visa announced plans to partner with Accenture and Pizza Hut “to develop a proof-of-concept connected car to test mobile and online purchases on the go.”
But Visa isn’t focused only on mobility. It is also making significant investments in real estate and employees to reflect its repositioning. Its 112,000-square-foot innovation center in San Francisco, California, for example, is attracting Bay Area techies and, in an effort to strengthen its global technology resources, Visa opened a Technology Center of Excellence in Bangalore in August 2015. This innovation hub is expected to be fully staffed with more than 1,000 developers by early 2017 and signals Visa’s commitment to transform its global processing network into an open commerce platform. The company has also brought on senior talent to lead its Visa Research Labs and plans to make an additional 2,000 full-time tech hires.
In keeping with its tagline “Everywhere you want to be,” Visa has continued to make strategic endorsements to reflect the experiences that it can bring to consumers. In March 2015, Visa renewed its longstanding contract with the NFL for another five years and announced plans to incorporate new exclusive services for fans. In September 2015, Visa, a longtime sponsor of the Olympics, unveiled its Team Visa Rio program, which supports more than 30 Olympic and Paralympic athletes. Additionally, Visa (alongside Citibank) is set to replace American Express as the sole credit card accepted at all Costco locations. These initiatives have reinforced Visa’s prevalence in diverse users’ lives and kept its brand on the rise.