Visa 2015 Annual Report Download - page 9
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more broadly continues to be our big
opportunity.
In fact, if you look at what’s driven our
revenue growth over the last several years,
it is just that—it’s not taking share from
competitors. That’s not to say that the
market isn’t competitive. It is. Especially
since we went public, you have seen
clients make longer-term partnership
decisions, some of which have benefited
us, and some of which have benefited
others. There will be situations where
clients seek to do more business with us
because of our capabilities, products, and
brand and we will support them. We will
also defend our share aggressively and
we will be competitive with the market,
but we do not view pricing on its own
as a good mechanism to grow. I strongly
believe in focusing on long-term value
creation. Our future is about growing
electronic payments and commerce
broadly—and ultimately expanding into
new or underpenetrated segments.
Our Strategic Goals
Our strategic goals remain unchanged.
Partnerships
We are a business built on partnerships. We
need partners to issue our products and
we need partners to accept our products.
We also need partners to integrate our
payments capabilities into their commerce
experiences. We feel great about our
progress and continue to strengthen our
client relationships across the world.
Transform Our Technology Assets
We are continuing in our evolution from a
hardware-based network to a software-first
network. Continuing to build capabilities
into our software and allowing trusted
partners to gain access to our capabilities
to power their experiences is critical to
our long-term success. We have a great
team at Visa today, but we will continue
to add resources here. In support of this
goal, we opened a new Technology
Center in Bangalore, India. Ultimately,
we will have 1,000 Visa employees there,
predominantly focused on building and
enhancing several of our digital assets,
including our application programming
interfaces (APIs), which will make it easy
for application developers to access our
payment products and services. Opening
our network through standard APIs will
enable our FIs and partners to build and
enhance their own payment experiences