Visa Launches New Mobile Payment Services; Continues Mobile Technology Momentum Globally

Visa Mobile Platform Powering New Mobile Payment Programs in Brazil, South Korea and Value-Added Service Pilots in U.S.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 3, 2008--Visa (NYSE:V), the global leader in payments, today took the next step toward making mobile commerce a global reality by launching four new programs to deliver payments and services via mobile devices. Two commercial mobile payments programs, in Brazil and Korea, along with two mobile offers and transaction notification pilots in the United States, add to more than a dozen pilot and commercial programs enabled by the Visa mobile platform around the world.

The Visa mobile platform gives Visa's bank and wireless carrier partners the tools and technology framework they need to develop, test and offer innovative mobile services around payments to this growing market segment. The mobile platform already supports consumer programs and pilots in a dozen countries and territories, delivering convenient, reliable and secure payment services to active lifestyle consumers.

Visa's investment in its mobile platform comes as more consumers in both developed and emerging markets adopt mobile devices. According to the GSM Association, there are nearly 3.5 billion such devices in the world with the greatest growth coming from developing countries. As these numbers have increased - and as the devices themselves grow smarter - consumers rely on them for much more than just communication, creating greater opportunity for them to play a central role in commerce and to deliver new services around payment.

Visa's vision in creating its mobile platform has been to apply the scale, flexibility, and security of its global payment network to deliver both payment and value-added mobile services that have immediate value to consumers, merchants and issuers.

"Today we again see how far Visa and our partners have come in the development of mobile financial services," said Elizabeth Buse, Global Head of Product at Visa Inc. "As the payments ecosystem has expanded, so has Visa's opportunity to deliver innovative products and services to a diverse set of stakeholders."

Global Momentum

The Visa mobile platform was created to help financial institutions, telecommunications providers and handset manufacturers tap into technology to deliver both mobile payments and related services that enhance the consumer payment experience. Visa has continued to extend the platform to offer more innovations that meet the needs of consumers, merchants, financial institutions and mobile service providers. The latest programs include:

-- Brazil: Visa announced yesterday the availability of remote mobile payments in Brazil by Banco do Brasil, which is marking its 200th anniversary in early October with a number of innovative banking programs. It is the first program of its kind in Latin America, allowing Banco do Brasil's Visa cardholders to pay with their mobile device and confirm the transaction via text message. The service is accessible through any Brazilian mobile carrier serving the more than 140 million subscribers in the country. Companhia Brasileira de Meios de Pagamento (VisaNet Brasil), the acquiring institution for all Visa debit and credit payment transactions in the country, will be running the deployment of this technology in Brazil.

-- Korea: In a world first and in partnership with T-Money provider KSCC (Korea Smart Card Company), card issuer Shinhan Bank and Korea Telecom Freetel (KTF), Visa has made it possible for commuters to use their Visa account to top up their T-Money balances automatically on the phone's SIM card when it falls below a certain level. By conducting the entire transaction automatically over the mobile network, commuters are freed from the inconvenience of waiting in line at transit kiosks or other agents to top up their transit account.

-- US: Visa recently announced a partnership with Chase Bank for a pilot program to deliver personalized mobile offers to select consumers in Phoenix, AZ. With more than 50 participating merchants, the program has capacity for 5,000 participants who will receive offers, including discounts or special deals, directly to their mobile devices via text message. They will be able to redeem these offers at the merchant's location or online. The pilot will also cover special game day offers for baseball fans attending games at Chase Field, home of the Arizona Diamondbacks.

-- North America: Visa is working with multiple leading issuers, such as PNC Bank, SunTrust Bank, U.S. Bank, Wachovia, and Wells Fargo in the United States, and RBC, TD Bank Financial Group, and Vancity in Canada, to trial a transactions notification program that is able to send near real-time information to cardholders. Participating cardholders will receive e-mail or SMS text messages on their mobile devices whenever one or more transaction "triggers" occur, sometimes before they leave the store. These mobile notifications will be created simultaneously with the transaction, providing cardholders with an effective way to monitor and manage their accounts.

These mobile payment initiatives join a series of existing pilots in several countries and territories, including:

-- Australia: Last week, National Australia Bank (NAB), Telstra and Visa announced an Australian first with the launch of a contactless payment trial using components of the Visa mobile platform. The trial, involving 200 participants and 12 merchants in the Docklands area of Melbourne, will run over the coming months and will enable Telstra, NAB and Visa to assess Australian consumers' and retailers' reaction to mobile payments.

-- Canada: In November 2007, RBC announced a mobile payments trial based on the Visa mobile platform. The Ontario-based trial will involve multiple phases including in-lab testing, an RBC staff pilot, and a consumer pilot. As part of the trial, mobile phones with an embedded NFC contactless chip will enable users to make mobile Visa payWave transactions at contactless acceptance locations.

-- France: Visa Europe is part of a joint pilot with six major French banks as well as four mobile operators called "payez mobile." This trial tests mobile payments with 1,000 customers at 200 sales outlets in Caen and Strasbourg in France.

-- Germany: In July 2007, a joint venture between Visa Europe, Nokia, T-Systems and Rhein-Main-Verkehrsverbund (RMV), a regional transport network in Frankfurt, called RMV2go was announced. The joint venture was formed to spearhead the development of payment solutions based on the Visa mobile platform, incorporating Visa payWave on Nokia mobile devices.

-- Korea: In February 2007, Visa and SK Telecom, the country's leading mobile operator, announced a trial of the world's first contactless payment application using a third-generation (3G) universal SIM (USIM) that is personalized for payment "over-the-air." The program involved SK Telecom subscribers installing the Visa payWave contactless application directly onto their phone. Since then, KTF, another major mobile operator, launched a similar trial with Visa in June 2008.

-- Malaysia: In October 2007, Visa, in partnership with Maybank, Maxis and Nokia, begin a mobile Visa payWave trial with 100 staff from the participating companies. The trial utilized Malaysia's existing contactless infrastructure and built upon a mobile payment trial conducted in 2006. Technologies from the Visa mobile platform, including graphics-rich user software and the ability to download and personalize the Visa payWave function over-the-air, were tested during the trial.

-- Spain: In June 2007, BBVA, Nokia and Visa announced the launch of a mobile payments program using Nokia 6131NFC mobile phones with NFC (Near Field Communication). A small group of BBVA employees were pre-selected to participate in the program. Each participant received a phone that is preloaded with the Visa payWave application and can be used to pay for purchases at various merchants throughout Madrid.

-- Taiwan: In September 2007, Visa announced a trial with Chunghwa Telecom, the largest telecommunications provider in Taiwan; Chinatrust Commercial Bank (CTCB), the largest privately owned bank in Taiwan; and Nokia. The program involved Chunghwa and CTCB customers provisioning their phones over-the-air with the Visa payWave payment application. This pilot has been complemented with two additional pilots conducted by Far EasTone and Taishin Bank and Vibo and United Bank of Taiwan.

-- United Kingdom: Visa Europe announced its participation in a large scale UK mobile pilot for payments - entitled "mobile wallet" with mobile operator O2. The six month pilot will examine the use of mobile phones to pay for purchases, access events, and travel.

-- United States: In June 2007, Wells Fargo Bank and Visa announced the launch of a three-phase mobile pilot that tests mobile payment and offers on phones equipped with NFC. The initiative also includes mobile coupons and account management services.

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 170 countries. For more information, visit www.corporate.visa.com.

CONTACT: Visa Inc.
Elvira Swanson, 415-932-2564
globalmedia@visa.com

SOURCE: Visa Inc.