PARIS, France, June 30. Visa continues to
transform its business amid rapid changes in the global payments
industry, expanding its technological capabilities and range of
services for customers, Visa's Group President, Oliver Jenkyn,
said, Trend's special
correspondent reports from the event.


He made the announcement at a briefing held as part of the Visa
Payments Forum in Paris.


“Amid all the changes taking place in our industry, Visa is also
compelled to evolve. We are changing, and we want to share with our
clients exactly how the company is transforming. But no matter what
changes occur, one principle remains constant: everything Visa does
is aimed at supporting our clients,” he said.


According to Jenkyn, a client-centric approach remains the
foundation of the company’s operations.


Visa’s Head of Global Markets emphasized that the company
maintains its leading position in the global market.


“Today, Visa operates in more than 200 countries and
territories, connects over 175 million merchant locations
worldwide, and processes approximately one billion transactions
daily. According to him, the company is also among the top ten most
valuable global brands,” he said.


At the same time, Jenkyn noted that Visa’s transformation is
accompanied by the active development of new technological
solutions.


“Today, we already have 18 billion tokens that provide
additional protection for payment details, as well as 18 billion
endpoints on the Visa Direct platform for money transfers. Our
additional services division offers more than 200 solutions, of
which over 150 use artificial intelligence technologies,” he
said.


He also discussed the company’s strategic priorities,
emphasizing that Visa’s mission is to make the process of paying
and receiving payments as convenient as possible for all market
participants.


“Our strategy is to improve the well-being of people around the
world while remaining the best way to pay and receive payments. At
the heart of this strategy are our brand, innovative products,
technology platform, security, and our employees,” Jenkyn
noted.







According to him, Visa’s business today is built around three
key areas: consumer payments, Commercial Money Movement Solutions,
and Value-Added Services.


Speaking about the consumer payments segment, Jenkyn noted that,
despite years of development in card payments, the market’s growth
potential remains enormous.


“We’ve been involved in consumer payments for decades. But
trillions of dollars still circulate in the global economy in the
form of cash, checks, and other inefficient payment methods. This
means we still have many years of growth ahead of us,” he
emphasized.


He paid special attention to the development of solutions for
the movement of funds between various categories of market
participants.


"Money moves not only between consumers and businesses. These
include transfers between individuals and companies, payments from
businesses to consumers, government payments to citizens, and
payments from citizens to the government. The volume of these
transactions significantly exceeds that of the consumer payments
market; however, the infrastructure supporting such transfers is
still considerably less developed. That is why, together with our
clients, we are actively investing in making these processes even
faster and more convenient. One of our key areas of focus is B2B
payments,” Jenkyn said.


He identified Visa’s additional services as the third strategic
area, which enable clients to reduce the costs of developing their
own payment infrastructure.


"Today, maintaining a modern payment infrastructure is extremely
challenging. It requires massive investments in authorization,
clearing, settlement, security, reliability, chargeback management,
digital platforms, agency commerce, stablecoins, and many other
areas. Many of our clients say: ‘We have twenty payment-related
projects, but in reality, we only want to focus on four or five.
The rest are just to keep up with the market,’ Jenkyn noted.


According to him, Visa currently offers issuers, merchants, and
financial institutions a wide range of solutions in the areas of
risk management, digital identification, cybersecurity, marketing,
consulting, and managed services, helping clients improve their
business efficiency.