Headquartered in California & listed on the NYSE (NYSE:V), Visa is a global payments technology company that connects consumers, businesses, financial institutions & governments in more than 200 countries & territories to fast, secure & reliable electronic payments. The company employs over 17,000 people worldwide across 38 countries & provides digital payments products, services & processing to over 16,000 financial institution clients. Visa partners with 44 million merchant outlets & provides 3.3 billion Visa accounts throughout the world. Visa is one of the world's largest retail electronic payment networks. The company operates one of the world's most advanced processing networks, VisaNet, offering fraud protection for consumers & assured payment for merchants, capable of handling more than 65,000 transaction messages a second. With a market capitalisation of circa $4000BN, Visa is one of the world's most valuable global brands (BrandZ 2019) & one of the world's most innovative companies (Forbes 2019).
Over the last 12 months, Visa made tremendous progress leading a dynamic industry & advancing the growth of digital payments globally. Against a backdrop of geopolitical challenges & uneven global economic conditions, Visa delivered outstanding financial & operating results.
In 2019, Visa completed four strategic acquisitions; Earthport (Earthport operates the largest independent Account Clearing House (ACH) network in the world, providing cross border payments), Payworks (enabling seamless omni-channel experiences), Verifi (improving ecosystem dispute chargebacks) & Rambus (extending tokenisation to non-card transactions). These acquisitions have furthered Visa's strategy to advance the growth of digital payments. With the combination of a partner driven business model to support growth through scale, Visa's strategic investments will help accelerate the company's growth & expand into key areas delivering new payment flows, services & capabilities, as well as expanding client reach. Accessing new & differentiated capabilities will ensure Visa is well placed to deliver a network of services built on the strong foundation for the company to be a truly global leader in payments.
Visa's mission is: to connect the world through the most innovative, reliable & secure payment network - enabling individuals, businesses & economies to thrive. Visa enables money movement for everyone, everywhere.
In 2019, Visa made significant strides in advancing the goal to be a single connection point for initiating any transaction, both on the Visa network & beyond. With a relentless focus on innovation, this is the catalyst for Visa to spearhead rapid growth of connected commerce on any device, & a driving force behind the dream of a cashless future for everyone, everywhere. The company is able to provide the benefits of scale to investments with the ability to accelerate innovation. As the world moves from analog to digital, Visa is applying its brand, products, people, network & scale to reshape the future of commerce. 2018 witnessed Visa launching a $100M European investment program to support the thriving Fintech ecosystem in Europe & grow its investment activity in start-ups.
Visa is one of the best performing stock in the Dow 30. The company has recently reported a strong & healthy set of full year results (October 2019) with net operating revenues of $22.9BN, an increase of 11% from the year prior. Closing the fiscal year with strong momentum, delivering robust revenue & earnings growth fueled by double-digit increases in payments volume, cross border volume & processed transactions, Visa assumes a healthy outlook in FY'20. Earnings per share growth (EPS) was 18%, delivering an incredible performance globally with strong business operations in Europe.
The Central & Eastern Europe, Middle East & Africa (CEMEA) Region
Visa has five key regions globally: North America; Latin America; Europe; CEMEA (Central & Eastern Europe, Middle East & Africa); & Asia Pacific. CEMEA is one of the most diverse, multicultural & fastest growing regions in the world. Driven by Visa's global vision to be the best way to pay & be paid, for everyone, everywhere CEMEA is a rapidly-growing region for Visa. The region contains a compelling blend of history, innovation & opportunity, drawing on a rich heritage & global reputation. CEMEA combines over 90 countries, operating in 9 core markets with a further 12 markets representing significant growth opportunity, approximately 700 employees in 22 offices, representing 44 nationalities. The region combines mature & sophisticated markets such as Russia & South Africa; as well as many emerging markets that are driving the next generation of growth. CEMEA is divided into four sub-regions: Middle East & North Africa; Commonwealth of Independent States & South Eastern Europe (CIS & SEE); Russia; & Sub-Saharan Africa.
CEMEA contains seven of the world's twenty most populous countries, & the biggest new business opportunities lie within untapped consumer expenditure of Nigeria, Pakistan, Egypt & Kenya. Together, these markets account for 26% of CEMEA's Personal Consumption Expenditure (PCE), 29% of its population, but just 2% of current Visa payment volume. Therefore, the opportunity is huge. Innovative & strategic business growth is imperative.
To guide its work, & support its global mission, Visa focuses on seven strategic pillars that underpin its work around the world:
Vice President Processing will lead the Network Processing function within the CEMEA region & will be responsible for developing the network processing strategy & executing to grow transactions on the Visa network through innovations & value-added services working with internal & external stakeholders on domestic & regional processing opportunities.
The Vice President Processing, CEMEA will serve as the leader for Network Processing for both the POS & ATM business in the CEMEA geography & will be part of the CEMEA Products Leadership Team.
Scope of Responsibilities
Lead the development & manage the execution strategy for the CEMEA geography
Align with product, sales & acceptance initiatives
Lead & support GNP market teams to ensure country management & sales teams are effectively communicated to in regards to strategies & plans.
Develop, own & communicate the Processing annual operating plan to achieve business objectives
Ensure activities are regularly reviewed & reported to global Function & CEMEA leaders
Manage the identification & assessment of processing trends, opportunities & threats in key CEMEA
Identify, qualify & quantify market specific opportunities in close cooperation with local relationship management & product teams
Promote an understanding of critical success factors to achieving network processing revenue objectives
Provide input into design & implementation of general marketing & promotional activities to ensure increased awareness of processing objectives & priorities
Lead & utilize market team leader's Subject Matter Expertise (SME) to provide processing consultancy to CEMEA teams, clients & payment system stakeholders
Provide professional advice & consultancy to relevant stakeholders covering both tactical & strategic objectives
Demonstrate a strong understanding of Visa's processing capabilities overall with specific knowledge & leadership of network processing objectives
Drive market processing solutions using Visa asset or Partnership in alignment with Overall Company goals
Manage Processing product output from partners to make sure Visa's interest is kept
Provide leadership to ensure training of relationship management staff with the goal of ensuring relationship management becomes self-sufficient in processing sales & opportunity identification
Manage & lead a team of processing professionals in network & issuer processing responsible for the management & growth of the network processing share in specific markets & the issuer processing business in CEMEA
Definition of Success (within the next 12-18 months)
Significantly increased the value of & clients' usage of the network in the CEMEA region
Set clear objectives, strategy & alignment across the board regarding priority markets in CEMEA for Visa to go into & partner in
Realised & facilitated the implementation of the processing network usage growth opportunity in CEMEA's emerging markets (and thus, the evolution of the new systems integration with Visa