Hoover’sInc. (2015). Retrieved February 27, 2015 from Hoover’sdatabase.
Business: Visa is the world’s largest debit and credit card payment network. It facilitates authorization and transactions of payment using visa card.
Stock: Visa is traded on NASDAQ publicly.
Industry: Visa Company operates in the industry of financial transaction processes. It competes with other companies that offer plastic money such Mastercard Incorporated.
Leadership: Visa Company is led by Charles W. Scharf, with Ryan Mclnerney as the president.
Competition: the main competitors of Visa Inc are Mastercard Incorporated, American Express Company, and Discover Financial Services.
Employees: The Company has several employees in various parts of the world.
Operations: Visa operates all over the world.
IBISWorld.(2015). Credit Card processing & Money transferring in the US:Market Research Report. Retrieved on February 27, 2015 from IBISWorlddatabase.
Theindustry of credit card processing and transferring has increasedsignificantly over the years in response to the improved technology.The increased population and economic activities facilitates thegrowth of this industry. The rate of electronic payments to check andcash has shown a positive trend. Consequently, this has led to theincrease in revenue for this industry. It is expected that theindustry will continue to rise given that more and more customers aregaining trust of this method of money transfer and payment.
Sidel,R. (Sept. 23, 2014). Fraudulent Transactions Surface in Wake of HomeDepot Breach. Retrieved February 27. 2015 from ABI/Inform.
Sidelreports cases of fraudulent activities that have risen in financialinstitutions. The companies involved spend significant amount ofmoney in an attempt to curb frauds in their systems. One of thegreatest frauds was the Home Depot breach that shook the financialinstitutions. The fraud compromised more than 40 million cards. Visaand other competitors informed the banks to be on the outlook toavoid future hacks. Losses on credit cards frauds accounted for morethan $16 billion in 2013, which was 45% increase. This has put VisaCompany on its toes to prevent further losses.
PartD: Statistical Abstract of the United States (Proquest)
Patricia,S. (Feb 4, 2015). Smart Cards expected to multiply in the UnitedStates. Retrieved on February27, 2015 fromhttp://search.proquest.com.mantis.csuchico.edu/newsstand/docview/1650908707/F8FE691E1D4E4602PQ/6?accountid=10346
Thisarticle claims that by the end of 2015, it is expected that more thanhalf of the credit cards will be converted into smartcards to upgradethe methods of payment with regard to the new technology. Althoughthe introduction to smart cards has been slow, it is expected thatthe pace will heighten with time to meet the conversion deadline setby card issuers and merchants. This means that Visa has to put extraeffort to ensure that it is on top of the list to convert these cardsand remain ahead of the competition. The main purpose of this is toprevent cases of fraudulent activities inherent in the credit anddebit cards business.
VisaGlobal. (2015). We are Global payments technology company. Retrievedon February 27, 2015 from http://usa.visa.com/about-visa/index.jsp
Accordingto Visa Global (2015), Visa is a premier payments company thatutilizes the modern technology. It connects several financialinstitutions with merchants and cardholders. The website gives thefollowing details:
Business: it is the most advanced business in payment processing networks.
Network: Aims at meeting the engine of globe commerce.
History: It is the pioneer business in electronic payments. It was implemented in 1958.
Global presence: It operates in more than 200 countries.