Visa Inc. Completes Global Restructuring

    SAN FRANCISCO, Oct. 3 /CNW/ -- Visa Inc. announced today the completion
of its restructuring, having received broad member approval for the series of
transactions by which Visa Canada, Visa U.S.A. and Visa International have
become subsidiaries of Visa Inc. Visa Europe will remain a membership
association and will become a licensee of, and own a minority interest in,
Visa Inc.
    "The completion of the restructuring marks a pivotal moment in Visa's
history," said Joseph W. Saunders, Chairman and Chief Executive Officer of
Visa Inc. "I'm delighted by the support our members have shown us throughout
this process. By completing the restructuring, we now are better positioned to
serve our clients in the growing payments industry and further advance the
global migration to electronic payments. I believe that with our strong senior
management team and our new global structure, Visa Inc. will continue to
execute on our competitive strategy, grow our leading brand and network, and
expand our diverse product offerings to benefit our stakeholders: financial
institutions, merchants and cardholders."
    Visa Inc. operates the world's largest retail electronic payments network
and is the most recognized global financial services brand. As the payments
industry leader, Visa provides products, services and infrastructure to
support global commerce through the transfer of value and information among
financial institutions, merchants, consumers, businesses and government
    "I believe we will approach the opportunities ahead in a stronger
position than before. We expect to continue to grow and enhance our industry
leadership position through our unwavering commitment to our clients, our
diverse product offerings and our focus on innovation," concluded Saunders.
    About Visa:  Visa operates the world's largest retail electronic payments
network providing processing services and payment product platforms. This
includes consumer credit, debit, prepaid and commercial payments, which are
offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys
unsurpassed acceptance around the world and Visa/PLUS is one of the world's
largest global ATM networks, offering cash access in local currency in more
than 170 countries.
    For more information, visit
    This press release contains forward-looking statements. These statements
may be identified by the use of words such as "will," "believes,"
"anticipates," "intends," "estimates," "expects," "projects," "plans" or
similar expressions. Such forward-looking statements include, without
limitation, statements about the proposed restructuring and related
transactions, strategy, future operations, prospects, plans and objectives of
management and events or developments that we expect or anticipate will occur.
The forward-looking statements reflect Visa's current views and assumptions
and are subject to risks and uncertainties, which may cause actual and future
results and trends to differ materially from the forward-looking statements,
including but not limited to Visa's ability to achieve its strategic
objectives and the expected goals of the restructuring; general market
conditions; the outcome of legal proceedings; uncertainties inherent in
operating internationally; and the impact of law and regulations. Many of
these factors are beyond Visa's ability to control or predict. Given these
factors, you should not place undue reliance on the forward-looking

     Contact: Paul Cohen
     Office: +1 415 932 2166

     Michael Buckley
     Office: +1 212 333 3810
     Mobile: +1 646 244 9794

     Visa Media Hotline
     +1 415 932 2564

For further information:

For further information: Paul Cohen, +1-415-932-2166,, 
of Visa Inc., or Visa Media Hotline, +1-415-932-2564; or Michael Buckley, 
+1-212-333-3810, mobile: +1-646-244-9794,, for 
Visa Inc. Web Site:

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890