Visa Extends Its Money Transfer Service Globally

Availability to millions of consumers in Greater China and United Arab Emirates;
Launch of managed service to speed global adoption of Visa Money Transfer
SINGAPORE--(Business Wire)--
Visa Inc. (NYSE:V), the world`s largest retail electronic payments network,
today extended the global reach of its Visa Money Transfer Service to greater
China and the United Arab Emirates, two of the world`s most active territories
for international remittance.

In addition, Visa announced the launch of a new managed service that reduces the
time and development investment required for a financial institution to offer
Visa Money Transfer to its customers. Initially available in Canada and the
United States, and later on a global basis, the service is intended to foster
more rapid adoption of the service in marketplaces around the world.

Visa Money Transfer gives consumers a convenient, cost-effective and secure way
to send funds directly to recipients` Visa cards domestically and
internationally. Senders can initiate a Visa Money Transfer to make
person-to-person payments, send funds to friends or family members, or make
account transfers. Sender channels through which a Visa Money Transfer can be
initiated include internet banking, Automatic Teller Machines (ATM),
self-service kiosks, in person at a bank branch, or via the telephone.

Following these launches, Visa Money Transfer programs are offered to consumers
in greater China, including Hong Kong; Georgia; India; Indonesia; Kazakhstan;
Malaysia; Russia; Singapore; Sweden; Ukraine; and the United Arab Emirates. Visa
Money Transfer is available via 50 sending institutions in 14 countries and
territories around the world.

"Visa is well positioned to facilitate secure and cost-effective money transfer
services by extending the capabilities of our global network that connects 1.7
billion accounts," said Elizabeth Buse, global head of product, Visa Inc. "This
enables our clients to diversify into new fee-based services, while meeting
their customers` need for a convenient, secure and affordable way to send money
domestically and across borders."

Working with Leading Institutions

ICBC - The ICBC Visa Money Transfer program, launched in China today will be
available initially in Beijing, Shanghai and Shenzhen and will provide the
bank`s 70.8 million internet banking customers1 a safe and convenient option to
transfer funds to Visa cards globally. The World Bank estimates that more than
US$5.7 billion was sent in cross-border remittances from China in 2008. The new
Visa Money Transfer service will be targeted at those with family members
working or studying abroad, primarily in Canada, United Kingdom, Japan,
Singapore, Hong Kong, France and Germany and will make it easier for them to
send funds.

EPS - For consumers in Hong Kong, EPS Hong Kong Limited (EPS), an online bill
payment platform provider owned by 21 leading financial institutions, has also
launched a Visa Money Transfer service. The service will be immediately
available to customers of Standard Chartered Bank and Wing Hang. It gives
customers of these banks in Hong Kong the ability to transfer funds to 14
countries in nine currencies either by phone or via its PPS online portal. Visa
Money Transfer has broadened the PPS platform from a domestic bill payment
service to now include international fund transfers. The PPS Visa Money Transfer
platform allows the service to be extended easily to additional member banks of
EPS based on bank and consumer demand.

Combined, the ICBC and EPS programs will help to deliver Visa Money Transfer to
more than 72 million new consumers in Greater China.

UAE Exchange - Visa and UAE Exchange, the leading global remittance and exchange
house in the United Arab Emirates, have come together to offer a cross-border
Visa Money Transfer program. The service will be offered through UAE Exchange`s
network of 79 branches across the country. Visa Money Transfer will represent a
new, more convenient funds delivery method to UAE Exchange customers. The
service is scheduled to launch later in November, using Visa Processing Services
for transaction processing.

Worldwide - The Visa Money Transfer managed service launched today provides Visa
clients with an end-to-end packaged solution that gives them the ability to
customize several elements of the service including consumer fees, branding,
foreign exchange rates, transaction limits and language preferences, in addition
to core transaction processing.

Continued Global Expansion

While the Asia Pacific region is leading the deployment of new Visa Money
Transfer programs, significant momentum has been gained around the world. Recent
momentum includes:

Singapore - Singapore Post Limited (SingPost), which last year became the first
post office in the world to offer a Visa Money Transfer service, has expanded
its international remittance service to four additional recipient countries and
territories. Consumers can now send money to Visa cardholders in Bangladesh,
Hong Kong, New Zealand and Taiwan, in addition to Australia, China, India,
Indonesia, Malaysia, Philippines, Sri Lanka, Thailand and the United Kingdom.
Standard Chartered Bank has also teamed up with SingPost to offer a domestic
Visa credit card repayment service through SingPost`s self-service automated
machines.

Russia -Nineteen banks in Russia already offer Visa Money Transfer through over
15,000 ATMs and kiosks in the country. In partnership with Alfa Bank, Visa
introduced the first implementation of its enhanced Visa Money Transfer service
for express funds transfer, now available to Alfa Bank and Severnaya Kazna
customers.

Ukraine - In partnership with JCSB "Ukrsotsbank", Visa launched a money transfer
service which, from May 2009, allows any Visa cardholder in Ukraine to use the
service via one of the bank`s ATMs for domestic transfers to other Visa
cardholders in Ukraine.

About Visa Money Transfer

Visa`s goal is to use its global processing platform and card base to make money
transfer among the 1.7 billion Visa accounts around the world safe, convenient
and reliable. To this end, Visa is continually enhancing existing programs and
developing new services. Work underway includes technology infrastructure
improvements to support global processing of Visa money transfers, and to open
new channels through which remittances can be sent and received, including
through financial institution branches, the internet, mobile devices and Visa`s
global ATM network.

As a global company, operating the world`s largest electronic payments network,
Visa Inc. is well positioned to deliver flexible services that meet the demand
for money transfer services and to support the introduction of Visa Money
Transfer service to new geographies in key domestic and cross-border money
transfer corridors.

About Visa Inc.: Visa Inc. operates the world`s largest retail electronic
payments network providing processing services and payment product platforms.
This includes consumer credit, debit, prepaid and commercial payments, which are
offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys
unsurpassed acceptance around the world, and Visa/PLUS is one of the world`s
largest global ATM networks, offering cash access in local currency in more than
200 countries. For more information, visit www.corporate.visa.com.

1 ICBC Interim Annual Report 2009 (by end of September)

Visa Inc.
Elvira Swanson, 415-932-2564
globalmedia@visa.com
or
Visa Worldwide
Susan Williams, +65 6437 5659
swilliam@visa.com
or
Visa CEMEA
Jonathan Miller, +44 (0)207 225 8034
millerj@visa.com

Copyright Business Wire 2009