Visa Corporate Responsibility & Sustainability Report
Corporate Responsibility & Sustainability Report
1 Letter from Our Chairman & CEO2 Our Company3 Corporate Profile5 Our Approach to CorporateResponsibility & Sustainability10 Supporting the United NationsSustainable Development Goals12 Empowering People& Economies13 Financial Empowerment17 Community Support20 Securing Commerce &Protecting Customers212324252Payments SecurityCybersecurity at VisaConsumer PrivacyTransaction Integrity26 Investing inOur Workforce2728282930Employee Learning & DevelopmentEmployee EngagementEmployee SafetyEmployee BenefitsDiversity & Inclusion32 Operating Sustainably& Responsibly333943464850Environmental SustainabilityCorporate GovernanceEthics & ComplianceEngaging with GovernmentsHuman RightsResponsible Sourcing52 GRI Content Index
Securing Commerce and Protecting Customersthrough an evolving and multi-layered approachthat enables reliable, trustworthy and frictionlessdigital payment experiences Investing in Our Workforce by developing ourworld-class talent, fostering a diverse and inclusiveculture and offering training and benefits thatsupport our employees’ success Operating Sustainably and Responsiblythrough advancing environmental sustainabilityand upholding the highest standards for integrity,compliance and corporate governanceLetter from OurChairman & CEOAt Visa, we work every day to connect the world toenable individuals, businesses and economies tothrive, and we are committed to doing so in a waythat supports both inclusive and sustainable growthto improve people’s lives and drive economic andsocietal progress.I am pleased to share with you Visa’s annual CorporateResponsibility & Sustainability Report, which detailsour commitments and progress as an inclusive,responsible, ethical and sustainable corporate citizenacross four key areas: Empowering People and Economies by supportingmicro and small businesses, expanding financial accessto the unbanked and underserved, building financialcapability and strengthening our communitiesAs Visa celebrated our 60th anniversary and 10 yearsas a publicly-traded company, we also marked a yearof continued progress toward our goals across thesefour areas, including the following highlights:EmpoweringExpanded our financial empowerment focus on microand small businesses, implemented programs includingShe’s Next, Money Is Changing and Visa EverywhereWomen’s Edition and helped unbanked individualsaccess electronic payments accounts — now reaching396 million toward our goal of 500 million by 2020SecuringEvolved our industry-leading security capabilities,expanded Visa Token Service and opened a newCyber Fusion Center in London to strengthen ourglobal capability to rapidly collect, analyze andleverage cyber threat intelligence informationInvestingExpanded Visa University, our signature globallearning platform, launched a world-class online andin-person inclusion training program and created aGender Inclusion Council of 20 Visa leaders to createa more inclusive working environmentOperatingCommitted to transition to 100% renewable electricityby 2020, reduced our greenhouse gas emissions yearover year for the second consecutive year, implementedthe Visa Supplier Code of Conduct, expanded ourSupplier Diversity program and became a foundingsupporter of the Centre for Sport and Human RightsI am particularly proud of the growing third-partyrecognition we continue to receive for ourenvironmental, social and governance performance.Visa was once again named to the Dow JonesSustainability North American Index and theFTSE4Good Index in 2018. We also were listed as oneof Ethisphere’s World’s Most Ethical Companies for theseventh consecutive year and included as membersof the 100 Best Corporate Citizens and 100 Most JUSTCompanies rankings — among other recognitions.I invite you to read our latest Corporate Responsibility& Sustainability report, and hope you enjoy exploringhow Visa is helping create thriving economies, strongcommunities and a healthy planet.Sincerely,Alfred F. Kelly, Jr.Chairman and Chief Executive OfficerVisa1
Our CompanyVisa Inc. (NYSE: V) is a globalpayments technologycompany that connectsconsumers, businesses,financial institutions andgovernments in morethan 200 countries andterritories to fast, secure andreliable electronic payments.2
Corporate ProfileConnecting theWorld: At a GlanceIn the 60 years since the BankAmericard credit card was launched in Fresno, California, Visa has established itselfas a leading global payments technology company. Today, we provide transaction processing services, fraud andrisk management solutions and digital payments technology that power commerce in more than 200 countriesand territories.Each day, we work toward our vision to be the best way to pay and be paid for everyone, everywhere. Through ourstrategic focus, we implement our mission to connect the world through the most innovative, reliable and securedigital payments network, enabling individuals, businesses and economies to thrive:Vision: To be the best way to pay and be paid, for everyone, everywhere.Mission: To connect the world through the most innovative, reliableand secure payment network — enabling individuals, businesses andeconomies to thrive.Headquarters:San FranciscoKey Hubs: Foster City, Miami,Singapore, Dubai, LondonGlobal Offices and Data Centers:119Employees: 17,000Visa Network:160 currencies transacted(as of September 30, 2018)Strategic Framework15,500 financial institution clients(as of March 31, 2019)GrowthPillarsDrive DigitalDeepen PartnershipsExpand Access5 3.9 million merchant locations(as of June 30, 2018)3 .4 billion Visa cards(as of December 31, 2018)1 24.3 billion total transactionsprocessed by Visa (in fiscal 2018)Develop Best onSecurityLeverageWorld–Class Brand .S. 11.4 trillion totalUpayments and cash volume(12 months ending March 31, 2019)3
Through our Visa-branded payment products, ourfinancial institution clients develop and offer businesssolutions, credit, debit, prepaid and cash accessprograms. Other value-added services we provideto our clients include fraud and risk management,debit issuer processing, loyalty services, disputemanagement, security services such as tokenization,as well as consulting and analytics. We also partnerwith and invest in fintech companies to extend ourreach and enable rapid innovation.Behind these products lies VisaNet, one of the world’smost advanced processing networks. VisaNet is asecure, scalable and reliable system, capable ofprocessing more than 65,000 transaction messagesper second while providing fraud protection forconsumers and assured payment for merchants. Infiscal 2018, we saw 182 billion payments and cashtransactions with Visa’s brand, averaging to 500million transactions per day.2016–2018 Financial Results (GAAP) in millions (except for per share data)Fiscal Year Ended September 3020162017Operating revenues 15,082 18,358 20,609Operating expenses 7,199 6,214 7,655Operating income 7,883 12,144 12,954Net income 5,991 6,699 10,301 32,912 32,760 34,006 2.48 2.80 4.42Shareholders’ equityDiluted class A common stock earning per share4 2018
Our Approach to CorporateResponsibility & SustainabilityAs a global leader in payments, we have an opportunity and responsibility to join with our clients, partners andother stakeholders to connect the world — helping to empower people, businesses and communities to thrive.Our corporate responsibility and sustainability strategy focuses on priority issues in four groupings:Empowering People& EconomiesSecuring Commerce &Protecting CustomersInvesting inOur WorkforceOperating Sustainably& Responsibly Micro & Small Enterprise Unbanked & UnderservedConsumers Financial Capability& Literacy Community Support Payments Security Cybersecurity Consumer Privacy Transaction Integrity Employee Learning& Development Employee Engagement Employee Benefits Employee Safety Diversity & Inclusion Environmental Sustainability Corporate Governance Ethics & Compliance Responsible Sourcing Engaging with Governments Human Rights5
Relevant MembershipsVisa takes part in several membership organizationsand peer networks focused on corporate responsibilityand sustainability topics. Key memberships include:Business for Social Responsibility, Centre for Sport andHuman Rights, Corporate Eco Forum, Chief Executivesfor Corporate Purpose (CECP), Corporate ResponsibilityAssociation, Conference Board Corporate ResponsibilityCouncil and Sustainable Brands.Materiality*To inform our corporate responsibility and sustainabilitystrategy, Visa maintains ongoing engagement withvarious stakeholder groups, including shareholders,clients, third-party environmental, social andgovernance (ESG) organizations and interest groups.In addition, we conduct formal ESG materialityassessments on a biennial basis to identify the topicsmost relevant to Visa and our external stakeholders.We organize and calibrate our corporate responsibilityand sustainability strategy around these topics. In2019, we will conduct our next materiality assessmentto ensure our strategy continues to align with ourstakeholders’ evolving priorities and expectations andVisa’s long-term success. Read more about our mostrecent materiality assessments in our 2016 CorporateResponsibility Report.* In this report, our use of the terms “material,” “materiality” and other similarterms refers to topics that reflect Visa’s significant economic, social andenvironmental impacts or that substantially influence the assessments anddecisions of a diverse set of stakeholders. We are not using these terms asthey are used under the securities or other laws of the United States or anyother jurisdiction or as these terms are used in the context of financialstatements and financial reporting.6
Stakeholder EngagementAt Visa, we regularly engage with our stakeholders to inform our corporate responsibility and sustainability priorities.In 2018, we engaged key stakeholder groups in a variety of ways, including:Stakeholder GroupEngagement ApproachPriorities DiscussedEmployeesEmployee surveysAll-staff meetingsManager/employee dialogueSimplify Work & Tools InitiativeIntranet communicationsDigital signageOffice eventsCommunity SupportConsumer PrivacyDiversity & InclusionEmployee BenefitsEmployee Learning& DevelopmentEmployee EngagementEnvironmental SustainabilityEthics & ComplianceFinancial Capability & LiteracyHuman RightsIT SecurityClients(including financial/non-financial institutionsand merchants)Client councilsPayments forumsSurveysBriefing center visitsDirect engagementVisa School of BusinessCommunity SupportConsumer PrivacyDiversity & InclusionEngaging with GovernmentsEnvironmental SustainabilityEthics & ComplianceFinancial Capability & LiteracyHuman RightsIT SecurityMicro & Small EnterpriseResponsible MarketingResponsible SourcingTransaction IntegrityUnbanked & UnderservedConsumersShareholdersEarnings callsSEC filingsInvestor conferencesDirect investor engagementESG research firm profilesConsumer PrivacyCorporate GovernanceDiversity & InclusionEmployee Learning& DevelopmentEmployee EngagementEngaging with GovernmentsEnvironmental SustainabilityEthics & ComplianceHuman RightsIT SecurityTax StrategyTransaction IntegrityPolicymakers& RegulatorsVisa-hosted eventsParticipation as panelists atpolicy gatheringsTestimony before government bodiesDirect engagementVisa School of Public PolicyCommunity SupportConsumer PrivacyCorporate GovernanceDiversity & InclusionEmployee BenefitsEnvironmental SustainabilityEngaging with GovernmentsEthics & ComplianceFinancial Capability & LiteracyHuman RightsIT SecurityMicro & Small EnterpriseResponsible SourcingTax StrategyTransaction IntegrityUnbanked & UnderservedConsumersThird-Party OrganizationsVisa-hosted eventsConference participationMembershipsCorrespondenceDirect engagementCommunity SupportConsumer PrivacyDiversity & InclusionEmployee Learning& DevelopmentEngaging with GovernmentsEnvironmental SustainabilityEthics & ComplianceFinancial Capability & LiteracyHuman RightsMicro & Small EnterprisesResponsible MarketingResponsible SourcingUnbanked & UnderservedConsumers7
Governance of CorporateResponsibility & SustainabilityAt Visa, ongoing corporate responsibility andsustainability activities are managed at a functionallevel across our strategic and operational areas,with executive and Board oversight.Corporate Recognition Dow Jones Sustainability, North AmericaIndex, 2018, RobecoSAM FTSE4Good Index Member, 2018, FTSE Russell 100 Best Corporate Citizens, 2018, 3BL Media JUST 100 2018, JUST Capital Newsweek Green Rankings Silver CSR Rating, 2019, EcoVadis World’s Most Ethical Companies,2018, Ethisphere Trendsetter, 2018 CPA-Zicklin Index World’s Most Admired Companies,2018, Fortune World’s Most Valuable Brands, 2018, Forbes World’s Most Innovative Companies,2018, Forbes World’s Most Valuable Global Brands,2018, BrandZ Best Global Brands, 2018, Interbrand8Visa’s Corporate Responsibility and SustainabilityLeadership Council serves as the central coordinatingbody facilitating our corporate responsibilityand sustainability strategy and reporting efforts.The Leadership Council is co-chaired by our VicePresident — Head of Corporate Responsibility andSustainability and our Chief Counsel — Corporate,with cross-functional representation from morethan a dozen senior leaders.Since 2016, the Nominating and CorporateGovernance Committee of the Visa Board of Directorshas had formal responsibility for and oversight ofcorporate responsibility and sustainability policies,programs and reporting. The full Board receivesquarterly updates on Visa’s ongoing ESG activities,as well as information about ESG trends and events.Visa’s governance of specific ESG topics is spreadamong our Board committees as follows:Audit & Risk Committee Risk management, including risk from ESG issues Ethics and compliance Code of Business Ethics and Conduct Cybersecurity, information securityCompensation Committee Executive compensation Diversity and inclusionNominating & Corporate Governance Committee Corporate governance Political involvement Corporate responsibility and sustainability Philanthropy Succession planningFinance Committee Tax strategyVisa is committed to the highest standards of professionaland personal conduct and always seeks to act withopenness and transparency.
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Supporting the UnitedNations SustainableDevelopment GoalsEnd poverty in all its forms everywhereEmpowering People & Economies Expand access to underserved and unbanked Build entrepreneur and small merchant capacityInvesting in Our Workforce Offer competitive compensation and benefits to all employeesThe United Nations (UN) Sustainable DevelopmentGoals (SDGs) provide a shared blueprint for governments,businesses and civil society organizations to address themost pressing environmental and social issues facingour world today.At Visa we are committed to addressing thesesustainable development challenges — helping tocreate thriving economies and a thriving planet. In 2017,we conducted a robust analysis of our impact on theSDGs and found that we contribute most to Goal 8,Decent Work and Economic Growth and Goal 5, GenderEquality. As a leading global payments technologycompany, we secondarily contribute to at least sixother SDGs. We also support the SDGs in other ways,including serving on the Corporate Action Groupfor Reporting on the Sustainable Development Goals,convened by the Global Reporting Initiative and theUN Global Compact. We are taking action to addressthese goals in a variety of ways:Ensure inclusive and quality education for alland promote lifelong learningEmpowering People & Economies Build entrepreneur and small merchant capacity Provide grants and training to female entrepreneurs Provide financial education resources Support Science, Technology, Education, Math (STEM)education programsInvesting in Our Workforce Foster ongoing education and trainingAchieve gender equality and empower all women and girlsEmpowering People & Economies Expand first-time access to digital payment accounts to 500 millionunderserved people by 2020 Partner to strengthen opportunities for women in emerging countries Provide grants and training to female entrepreneursInvesting in Our Workforce Advance initiatives to attract and retain diverse talent Commit to CEO Action on Diversity and Inclusion Develop women leaders Commitment to pay equityOperating Sustainably & Responsibly Maintain a culture of honesty and integrity10
Promote inclusive and sustainable economic growth,employment and decent work for allTake urgent action to combat climate changeand its impactsEmpowering People & Economies Expand access to underserved and unbanked Build entrepreneur and small merchant capacitySecuring Commerce & Protecting Consumers Invest in payments security infrastructureInvesting in Our Workforce Offer competitive compensation and benefitsto all employees Foster ongoing education and trainingOperating Sustainably & Responsibly 100 percent renewable electricity commitment LEED or other green-building certification Disclose energy use and GHG emissionsReduce inequality within and among countriesPromote just, peaceful and inclusive societiesEmpowering People & Economies Expand access to underserved and unbanked Provide financial education resourcesInvesting in Our Workforce Advance initiatives to attract and retain diverse talent Commit to CEO Action on Diversity and Inclusion Collaborate globally to address biasesOperating Sustainably & Responsibly Maintain a culture of honesty and integrity Supplier Code of ConductOperating Sustainable & Responsibly Robust governance structure/practices Award-winning ethics and compliance program Supplier Code of ConductEnsure sustainable consumption and production patternsRevitalize the global partnership forsustainable developmentOperating Sustainably & Responsibly Reduce waste to landfill Partner to promote sustainable lifestylesEmpowering People & Economies Expand access to underserved and unbanked Build entrepreneur and small merchant capacity Provide financial education resourcesInvesting in Our Workforce Collaborate globally to address biasesSecuring Commerce & Protecting Consumers Invest in payments security infrastructure11
SDG 1EmpoweringPeople &EconomiesSDG 4SDG 5SDG 8SDG 10SDG 17Visa envisions a world where allindividuals and businesses areable to use secure, convenientand affordable payment andother financial services to helpmeet daily needs, long-termgoals and to thrive. We areproud of our history ofcontributing to the growth ofworldwide financial networks,implementing financialinclusion initiatives, providingfree, award-winning financialliteracy programs and usingour time, talent and assets tostrengthen local communities.12
Financial EmpowermentWe believe that an open and more connected worldis one where consumers and businesses enjoy greaterchoice and flexibility. To create that world, we need tobridge the gap between those who have access to digitalpayments and those who do not. Also, we need tocontinue to eliminate points of friction that still existfor consumers and business — from how value isexchanged between individuals, between businessesand how workers are paid in the growing gig economy.Financial empowerment is an important componentof lifting individuals and communities out of poverty,yet access is not always distributed equitably. In response,we are focusing our business and philanthropic effortson enabling the success of micro and small businesses(MSBs), particularly women-owned businesses.Financial empowerment is also closely tied to education,and financial literacy is essential if individuals andeconomies are to prosper.Connecting CommerceVisa’s core business
Expanded Visa University, our signature global learning platform, launched a world-class online and . corporate responsibility and sustainability policies, programs and reporting. The full Board receives quarterly updates on Visa’s ongoing ESG activities,
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Visa Business”) (formerly “RBC Visa Business Platinum Avion”), RBC Visa Business (“Visa Business”) or RBC Visa Business Gold (“Visa Business Gold”) account that you have opened for the Applicant. You may add other types of Accounts to this list at any time. All Cards you issue
Visible identification marks * Visible identification marks Educational Qualification * Select. Educational Qualification . Last Indian Visa No/Currently valid Indian Visa No. * Last Indian Visa no / Currently valid Visa no Type of Visa * Select. Type of Visa
Enjaz Visa insurance (visa online system) we will arrange this at the time of generating the visa application. 7 . Proof of relation legalised by the FCO, we can arrange the legalisation. 8 . Completed Saudi Arabia Visa Order Form. Saudi Embassy Visa and E-Number fee Single or Multiple up to 6 month fees 130 Multiple up to 2 Years 494
It starts with a brief discussion on Corporate Social Responsibility (CSR) and Corporate Sustainability (CS), followed by discussion drivers for sustainability, and uses the responses from a number of interviews to try to answer the aforementioned question. 2. Corporate Social Responsibility, and Corporate Sustainability
that issue Visa cards (card issuers) and/or sign merchants to accept Visa cards for payment of goods and services (acquirers) . Visa provides card products, promotes the Visa brand, and establishes the rules and regulations governing participation in Visa programs .
Visa Signature is a registered service mark of Visa International. The UBS Visa debit card, UBS Visa Signature credit card and UBS Preferred Visa Signature credit card are issued and administered by UBS Bank USA with permission from Visa U.S.A. Incorporated. Credit lines are provided by UBS Bank USA, an affiliate of UBS Financial Services Inc .
Step 1: Fold paper into triangular fourths. Cut along one line from the outer point to the middle. Step 2: Fold paper into a pyramid shape by putting one triangle beneath the other to make the base of the pyramid. Staple in each of the front corners. Step 3: Make the desired number of pyramids and staple them together. You can do 1, 2, 3, or 4 pyramid sections. This photo shows 4 pyramid .
