The Visa blog

About Visa Electron

2006-11-14T06:30:00.000-08:00

"Visa Electron is a debit or credit card available across most of the world, with the exception of the United States, Canada and Australia. The card was introduced by VISA in the 80s and is a sister card to the Visa Debit card. If the Visa Electron logo is the only VISA logo on the card, the card will always require online authorization.

In different regions, the card is issued with different specifications. For example, one bank may issue it as a debit card, while another may issue it as a credit card. It is most commonly issued as a debit card. In this case applying for a credit card requires the applicant to present some proof of regular income (such as an employment certificate) or financial assets invested elsewhere.

In addition to debit facilities, the card also allows the holder to withdraw cash from ATMs even outside the holder's country of residence unlike normal ATM cards. This is because Visa Electron cards are also linked to the PLUS interbank network.

In the United Kingdom, the card is not as widely accepted as the sister Visa Debit card, but is often issued by banks as a debit card for children's accounts. In some countries, like Australia, retailers are required to accept the card as part of VISA's Accept All Cards Policy, which also applies to the normal Visa Debit card, although the card isn't available locally.

In countries that have stricter criteria for issuing credit cards Visa Electron has become popular with younger people and students alike due to much lower requirements and low fees."
From Wikipedia.org

Visa corporate structure

2006-11-14T06:00:00.000-08:00

"Visa offers through its issuing members the following types of cards:

* Debit cards (pay from a checking / savings account) (aka "pay now")
* Credit cards (pay monthly payments with interest) (aka "pay later")
* Prepaid cards (pay from a cash account that has no checkwriting privileges) (aka "pay before")

Visa operates the PLUS ATM network and the Interlink EFTPOS network, which facilitate the "debit" protocol used with debit cards and prepaid cards.

Visa's corporate structure is regionally de-centralised, which is unique in the payment scheme industry.

Legally, Visa comprises four non-stock, separately incorporated companies that employ 6000 people worldwide: Visa International Service Association ("VISA"), the worldwide parent entity; Visa U.S.A. Inc.; Visa Canada Association; and Visa Europe Ltd. The latter three separately incorporated regions have the status of group members of Visa International Service Association, whereas the unincorporated regions (Visa Latin America [LAC], Visa Asia Pacific and Visa Central and Eastern Europe, Middle East and Africa [CEMEA]) are divisions within VISA.

The de-centralised nature of Visa allows it to respond to member needs and adapt the Visa International rules and products to suit the individual needs of their regional members. Regional banks therefore have a strong stake in the governance of their region.

The Visa International Board has the dual responsibilities of:

1. Superintendence of the worldwide interests of the Association
2. Strategic direction and supervision of the three unincorporated divisions and the central staff of Visa Worldwide services.

The Visa Association is not a profit- driven organisation and the four companies that make up Visa issue no cards and make no loans. Members (about 21,000 worldwide) fund day to day management and make the investments needed to maintain and develop the Visa payment system. Fees are levied according to the following formula:

Operating and Marketing costs
+ Investments in new products, platforms and systems
+ Increase in Reserves
= Members annual fees"
From Wikipedia.org

The Visa blog on Technorati

2006-11-14T05:57:00.000-08:00

Also registered in Technorati :-)
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General information

2006-11-14T05:46:00.000-08:00

"The Visa card was launched in 1976 and the card was derived from the earlier BankAmericard issued by the Bank of America. Internationally, BankAmericard was known by other names prior to the introduction of the Visa brand for the network. The blue-white-gold motif used by BankAmericard was also used for these cards.

* In Canada, an alliance of banks (including Toronto-Dominion Bank, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Banque Canadienne Nationale and Bank of Nova Scotia) issued credit cards under the Chargex name from 1968 to 1977.
* In France, it was known as Carte Bleue (Blue Card). The logo still appears on many French-issued VISA cards today.
* In the UK, the only BankAmericard issuer for some years was Barclaycard.

The term Visa was conceived by the company's founder, Dee Hock. He believed that the word was instantly recognizable in many languages in many countries, and that it also denoted universal acceptance. Nowadays, the term VISA has become a recursive backronym for Visa International Service Association."
From Wikipedia.org

Welcome!

2006-11-14T05:42:00.000-08:00

Hi all!
Here you can get information about the famous Visa credit card.
"Visa is a brand of credit card and debit card operated by the Visa International Service Association of San Francisco, California, USA, an economic joint venture of 21,000 financial institutions that issue and market Visa products."
From Wikipedia.org