Visa 2014 Annual Report Download - page 7

Download and view the complete annual report

Please find page 7 of the 2014 Visa annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 161

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161

Merchants
I have talked in the past of the
importance in building deeper
relationships with merchants.
We know that networks like
ours are successful when
all sides of the payments
value chain want to use our
products. In the same way
that we have built issuer
perceptions over time, we
want merchants to perceive us
as a partner of choice because
we bring them ideas to
minimize cost and help drive
their growth.
While the acquirers are great
partners and provide the
scale for us to access over 36
million merchant acceptance
locations globally, we also
need to demonstrate the value
we deliver in the marketplace
ourselves. Without this,
the acquirers’ revenue is
jeopardized as well and
importantly, together, we
can create stronger business
partnerships with merchants.
We have a unique ability to
improve the value proposition
for the merchant by offering
services that can help them
grow their sales or reduce
their risk, not just minimize
their expenses. This includes
many of the same services we
provide for issuers such as risk
management, analytics, loyalty,
and payments consulting, but
we can do even more.
In 2014, we began to
demonstrate progress
against our commitment to
merchants.
• We built Visa Checkout to
be easy for merchants to
integrate into their websites
and mobile experiences.
The simple consumer
experience was designed to
benefit merchants as well by
increasing conversion rates.
And we have worked closely
with merchants to develop
joint marketing campaigns
that drive new customers
and higher volume to their
sites while increasing Visa
Checkout enrollment and
benefiting the issuers as
well.
• We rolled out Visa
Transaction Advisor, a
risk management tool
designed to reduce fraud at
automated fuel dispensers
by identifying transactions
that could involve lost,
stolen or counterfeit cards.
This tool has helped clients
reduce fraud by as much as
23%. We also worked with
merchant acquirers to make
implementation easy.
• We rolled out an easy way
for clients to implement
Apple Pay as a payment
option through CyberSource
and Authorize.net. More
than 80 merchants have
already leveraged this
capability.
• We launched the innovative
CIBC Tim Hortons Double
Double Visa Card in Canada,
creating a new loyalty
rewards program for Tim
Hortons customers and
presenting an opportunity
for CIBC to acquire new
clients.
• We renewed or won a
number of important
co-brands including Gap,
Hyatt, and American Eagle
Outfitters.