Visa 2012 Annual Report Download - page 9

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Table of Contents
The issuer and acquirer involved in a typical Visa transaction perform additional functions that we do not generally perform or
monitor. For example, the acquirer credits the merchant's account for the amount of the transaction less any fees the acquirer
charges in accordance with the contractual agreement between the merchant and the acquirer. In addition, the issuer sends a
statement to the cardholder and collects payment, in the case of a credit or deferred debit card, or collects payment directly from
the cardholder's deposit account, in the case of a debit card.
We process most Visa transactions occurring in the United States. We also process most Visa transactions where the issuer
and the merchant are located in different countries, which we refer to as cross-border transactions. In countries outside the United
States, processing of domestic Visa transactions varies. In some countries, such as Canada and Brazil, Visa processes the majority
of transactions. In many other countries, transactions may be processed outside of our systems, generally by government-
controlled payments networks, our clients, independent companies or joint ventures owned in whole or in part by our clients.
We perform clearing and settlement through VisaNet for transactions involving an issuer that is located in Visa Europe's region
and an acquirer that is located in the rest of the world, or vice versa. Visa Europe authorizes, clears and settles transactions for its
members through its own processing system.
Other Value-Added Processing Services
We offer a range of other value-added services in certain countries, including risk management, issuer processing, loyalty,
dispute management, value-added information and CyberSource-branded services.
Risk Management Services . We provide clients in certain countries with a number of value-added risk-management services.
These services, including Visa Advanced Authorization, provide preventive, monitoring, investigative and predictive tools, which are
intended to mitigate and help eliminate fraud at the cardholder and merchant level.
Issuer Processing Services. Visa Debit Processing Services, or DPS, provides comprehensive issuer processing services for
participating U.S. issuers of Visa debit, prepaid and ATM payment products. In addition to core issuer authorization processing,
DPS offers card management services, exception processing, PIN and ATM network gateways, call center services, fraud detection
services and ATM terminal driving. Visa Processing Service, or VPS, provides credit, debit and prepaid issuer processing services,
including multi-currency processing functionality, outside the United States.
Loyalty Services . We offer loyalty services, which allow our clients to differentiate their Visa program offerings, enhance the
attractiveness of their Visa payment programs and strengthen their relationships with cardholders and merchants.
Dispute Management Services . We manage Visa Resolve Online, an automated web-based service that allows our clients'
back-office analysts and client service representatives to manage and resolve Visa transaction disputes more efficiently than with
paper-based processes.
Value-Added Information Services . We provide our clients with a range of additional information-
based business analytics and
applications, as well as the transaction data and associated infrastructure required to support them.
CyberSource-branded services
. We provide technology and services that make it easier for eCommerce merchants to accept,
process and reconcile payments, manage fraud, and safeguard payment security online. CyberSource brings these payment
management solutions to market on two platforms: CyberSource Enterprise services, targeting medium and large-
sized enterprise
businesses; and Authorize.Net, targeting smaller businesses with less than $3 million in annual online sales.
Product Platforms
We offer a broad range of product platforms that enable our clients to build differentiated, competitive payment programs for
their consumer, business, government and merchant clients. Our principal payment platforms enable credit, debit, prepaid and cash
access programs, as well as virtual, mobile and eCommerce payments for consumers, businesses and government entities. Our
payment platforms are offered under our Visa, Visa Electron, Interlink and PLUS brands.
Consumer Credit
7