Visa Inc.

Visa Inc., one one the leading payment processing services declared that it had deposited $700 million into the litigation escrow account previously established under the Company's retrospective responsibility plan. Thus, according to the Plan, the $700 million deposit has the effect of a repurchase by the Company of 11,578,878 shares of Class A common stock at about $60.45 per share, on an as-converted basis, by reducing the as-converted Class B common stock share count from 154,566,658 to 142,987,780. As a result of the deposit, the conversion rate applicable to the Company's Class B common stock has dropped from 0.6296 to 0.5824. 

Visa Inc., world's largest retail electronic payments network providing processing services and payment product platforms, declared about its agreement with Fandango, one of the Web’s top movie and entertainment destinations. That agreement allows Visa Signature cardholders’ online access to exclusive movie ticket offers.

Visa Inc. partnered with Malaysian largest wireless carrier Maxis, Nokia and Maybank, a leading financial institution in Malaysia, to launch the first initiative that will allow consumers to purchase an NFC-enabled mobile device off the shelf and use that device to make Visa payWave-enabled transactions at the point-of-sale instead of using their payment card.

Visa Inc. payment system has announced today that Second Cup has joined a growing roster of Visa payWave(TM) contactless payment enabled merchants, which will allow consumers to simply "wave and go" when making every day transactions like purchasing coffee. It was announced that by the end of March 2009 360 Second Cup stores in Canada will be equipped with Visa payWave enabled terminals. 

The largest bank in the UAE National Bank of Abu Dhabi (NBAD) has announced its partnership with Visa Inc. under the signed contract Visa will provide its pre-paid payment solutions for the customers of NBAD. “Our new Prepaid Visa Card is a great addition to our card line-up as it gives consumers both flexibility and convenience while ensuring that they never exceed the amount loaded on the card,” said Mr. Farman Ali, Senior Manager of NBADs Cards Centre. 

Visa Inc. plans to turn into the mobile phone into a powerful financial tool. In order to do so it offers its first commercial application to link handsets with U. S. payment cards. Various financial applications were tested by the company in the U.S. and elsewhere. And it is about to offer a special tool allowing people to manage their credit and debit cards through phones that use Google Inc.’s Aroid operating system. 

M&T Bank is determined to prolong its partnership with Visa Inc. Both companies recently announced about the renewal of their agreement. As a part of the new long-term deal Visa is to further provide the bank’s customers with branded consumer and small business debit, commercial credit, and prepaid cards.