PR - Visa Inc. Completes Global Restructuring

San Francisco-based Visa Inc. announced yesterday it had completed its restructuring, having received broad member approval for the series of transactions by which Visa Canada, Visa U.S.A. and Visa International have become subsidiaries of Visa Inc. Visa Europe will remain a membership association and will become a licensee of, and own a minority interest in, Visa Inc.

"The completion of the restructuring marks a pivotal moment in Visa’s history," said Joseph W. Saunders, Chairman and Chief Executive Officer of Visa Inc. "I’m delighted by the support our members have shown us throughout this process. By completing the restructuring, we now are better positioned to serve our clients in the growing payments industry and further advance the global migration to electronic payments. I believe that with our strong senior management team and our new global structure, Visa Inc. will continue to execute on our competitive strategy, grow our leading brand and network, and expand our diverse product offerings to benefit our stakeholders: financial institutions, merchants and cardholders."

Visa Inc. operates the world’s largest retail electronic payments network and is the most recognized global financial services brand. As the payments industry leader, Visa provides products, services and infrastructure to support global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.

"I believe we will approach the opportunities ahead in a stronger position than before. We expect to continue to grow and enhance our industry leadership position through our unwavering commitment to our clients, our diverse product offerings and our focus on innovation," concluded Saunders.