Visa Service Provides U.S. Tourism Industry with Unique Insights into Spending by International Visitors
“The global economy is placing considerable pressure on travel and tourism industry merchants. By converting Visa transaction data into actionable information, we can provide timely insights to businesses that rely on tourism revenues as we work to help them grow their businesses,” said
The scale of Visa’s network of cardholders, merchants and financial institutions, as well as the sophistication of VisaNet, the company’s global processing network, combine to give VisaVue Travel its unique value. Visa is the world’s largest retail electronic payments network, connecting more than 1.7 billion cards, 30 million acceptance locations, 1.4 million ATMs and 16,400 financial institutions in more than 170 countries around the world. The Visa system securely processes more than 55 billion Visa transactions annually, transferring trillions of dollars and terabytes of business critical information. Visa’s unique and comprehensive view of tourism commerce, can yield valuable insights for enterprises and government authorities focused on driving tourism sales and supporting the local, state and national economies.
Sheedy said, “At the heart of VisaVue® Travel is VisaNet, the company’s centralized processing system, which, besides facilitating commerce with speed, accuracy and efficiency, enables us to harness the rich data that flows through our network to offer information-based products and services beyond payment. VisaVue® Travel illustrates the role Visa plays in supporting the tourism industry – better enabling them to meet the rapidly changing needs of the customers they serve.”
VisaVue® Travel reports provide a broad view of international tourism spending, while protecting the integrity and privacy of cardholder data. VisaVue® Travel data includes aggregate international cardholder spending on Visa debit, credit, commercial and prepaid cards, and reports feature:
In 2008, VisaVue® Travel data was made available in a pilot program to select states and convention visitors bureaus in the U.S.
In 2008, VisaVue® data provided a framework for snapshots of tourist spending for Visa’s U.S. International Tourism Outlook. Key findings included:
For more information on VisaVue®Travel and Visa's initiatives focused on the tourism industry, please contact the VisaVue Product Office at VisaVueTravel@Visa.com.
Visa 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.