2021 Environmental, Social & Governance Report

Contents 
Letter from our Chairman and CEO  
1
FY21 Visa ESG Performance Highlights  
2
About this Report 
3
Our Company 
Corporate Profile  
5
Our Environmental, Social &   
Governance Approach  
6
Supporting the United Nations  
Sustainable Development Goals  
8
Empowering People, Communities & Economies 
Small & Micro Business  
10 
Digital Equity & Inclusion  
12 
Community Support  
13 
  
Securing Commerce & Protecting Customers 
Payments Security   
17 
Cybersecurity at Visa  
19 
Data Privacy  
20 
Responsible Data Use  
21  
Transaction Integrity  
22 
Investing in Our People  
Inclusion & Diversity  
24 
Employee Learning & Development  
28 
Employee Engagement   
30 
Employee Wellbeing   
31 
Employee Benefits  
32 
Employee Safety  
33 
Protecting the Planet  
Sustainable Operations  
36 
Sustainable Commerce  
41 
Alignment with TCFD  
43  
Operating Responsibly  
Corporate Governance  
45 
Ethics & Compliance  
46  
Engaging with Governments  
47  
Tax Compliance & Governance  
48  
Responsible Sourcing  
48  
Human Rights  
49  
Appendix 
GHG Emissions Verification Statement  
52  
ESG Framework Map   
53  
  
  
 
  
  
2021 Environmental, Social & Governance Report

Letter from our 
Chairman and CEO 
The past few years have accelerated change in many 
facets of our lives—how we work and do business, how 
we communicate and what we prioritize and value. 
They have also sparked a renewed urgency to tackle 
the problems facing society on a global scale, including 
the 1.4 billion individuals currently left out of the formal 
financial system, the continuing effects of a lingering 
pandemic and the real world consequences of 
climate change. 
There is no overstating the seriousness of the challenges 
before us. Urgent problems demand urgent solutions. 
As global citizens, we at Visa are committed to making 
a positive impact in the world through living out our 
purpose: to uplift everyone, everywhere by being 
the best way to pay and be paid. We strive to do this 
in our efforts to empower small businesses and local 
economies, secure the channels of commerce, protect 
the planet, invest in and diversify our workforce, and 
operate ethically, responsibly and sustainably. 
At Visa, digital payments is our business. With studies 
showing that even a small increase in the rate of digital 
adoption can have an outsized influence on a country’s 
GDP—particularly developing countries—we are leaning 
into our strengths, digitally enabling communities around 
the world. We have made great strides to bring the power 
of digital payments to a growing number of small and micro 
businesses. We’ve also invested in improving digital literacy 
and financial education in communities across our regions 
through initiatives including Practical Money Skills, which 
reached over 3.2 million people and was offered in 48 
countries and 19 languages in 2021. 
To help ensure the digital economy is a safe and convenient 
place for businesses of all sizes to operate, we continue 
to invest in the security of our network and the broader 
ecosystem, including our investment of over $9 billion 
in fraud protection over the past five years. In 2021, Visa’s 
security efforts contributed to preventing $26 billion in 
fraud-related losses. 
Within Visa, we continue to focus on enhancing the talent  
experience for underrepresented groups. In the United States,  
we made progress toward our Stand Together goals, including  
our goals to increase underrepresented communities within  
our workforce. We also announced our Black Scholars and  
Jobs program — a scholarship, mentorship, internship and job  
placement program aimed at supporting a pipeline of diverse  
future leaders in the business and technology sectors.  
Building on our achievements in sustainable operations — 
100% renewable electricity use and carbon neutral operations 
— we continue to work toward a more sustainable economy. 
We are expanding our commercial offerings that help our 
clients and their customers access sustainable payment 
features and shift towards more sustainable behaviors— 
including through expanding digital payments acceptance in  
public transit systems and electric vehicle charging 
networks and launching the Visa Eco Benefits bundle 
to help Visa cardholders better understand the 
environmental impact of their day-to-day payments. 
These accomplishments are grounded in our commitment 
to run our company ethically, responsibly and sustainably. 
This, together with strong, independent governance, 
contributes to our ability to be a leader in our industry in 
environmental, social and governance (ESG) performance. 
We are proud to be recognized for our efforts, including our 
continued inclusion in the Dow Jones Sustainability North 
America Index and once again being named to the World’s 
Most Ethical Companies and Most JUST Companies lists. 
As I reflect on the results across our ESG areas of focus, I 
recognize that, although we have done much good for 
the world, much remains to be done. The work ahead 
is challenging, but I believe we have the best and the 
brightest talent in payments. As we continue to live out our 
purpose, the positive impact we can make only grows. 
In the following pages, I invite you to learn more about 
the work we do, day in and day out, to advance a more 
prosperous and sustainable future for all. 
Sincerely, 
Alfred F. Kelly, Jr. 
Chairman and Chief Executive Officer, Visa 
2021 Environmental, Social & Governance Report  | 1

FY21 Visa ESG Performance Highlights 
Our ESG Strategy 
Helps us deliver on our purpose: uplift everyone, everywhere by being the best way to pay and be paid 
Empowering People, 
Communities & Economies 
30.7M 
SMBs digitally enabled toward 50 million goal by 20231 
8.5K 
startups from 100 countries in Visa Everywhere Initiative 
3.2M 
people reached by Visa Practical Money Skills – offered 
in 48 countries and 19 languages 
Securing Commerce &  
Protecting Customers  
$26B 
of fraud losses prevented by Visa Advanced 
Authorization and Visa Risk Manager 
$9B 
invested over past five years to boost cybersecurity and reduce fraud 
$0.07 
historically low fraud rate for every $100 transacted on Visa’s network 
Investing in Our People 
Equal pay
among men and women for the same work 
21K 
active users in Visa Learning Hub 
50 
Visa Black Scholars joined inaugural cohort 
Operating Responsibly 
64% 
Visa Board diversity for gender, 
race, ethnicity dimensions 
100% 
completion by eligible employees 
of annual compliance training 
10 years
consecutive inclusion on 
World's Most Ethical Companies list 
Protecting the Planet 
Carbon neutral 
achieved for operations 
100% 
renewable electricity use maintained 
400+ 
cities with Visa support of public transit mobility 
2021 Environmental, Social & Governance Report | 22 
1 As of May 2022

2021 Environmental, Social & Governance Report  |  3 
  
 
 
 
 
 
 
 
About this Report 
Visa’s 2021 Environmental, Social and Governance (ESG) Report describes 
our commitments and work in five clusters: 
• Empowering People, Communities & Economies 
• Securing Commerce & Protecting Customers 
• Investing in Our People 
• Protecting the Planet 
• Operating Responsibly 
The focus areas, issues and initiatives we address are important to Visa and our 
stakeholders. For more information on how Visa identifies these priorities through our  
biennial Materiality process, see page 6 of this report. Additional resources on these  
topics are available at visa.com/esg. 
This report has been prepared in accordance with the Global Reporting Initiative (GRI) 
Standards: Core option, and is mapped to the Sustainability Accounting Standards Board 
(SASB) Software & IT Services Sustainability Accounting Standard, the Task Force on 
Climate-related Financial Disclosures (TCFD) recommended disclosures, and relevant World 
Economic Forum (WEF) Stakeholder Capitalism Metrics. 
This report focuses on Visa’s global commitments and practices, except where noted. We 
report data related to Visa’s fiscal year 2021 (October 1, 2020–September 30, 2021) unless 
otherwise noted. In some cases, data and information related to our ESG priorities may 
include programs and activities underway or introduced in the 2022 fiscal year, as noted. 
All references to currency are in U.S. dollars, unless otherwise noted. This is Visa’s seventh 
annual ESG Report. Visa’s previous report was published in May 2021. 
Please direct questions on this report or topics related to our environmental, social and 
governance disclosures to sustainability@visa.com. 
This report contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “anticipates,” “aims,”“aspires,” “believes,” 
“commits,” “estimates,” “expects,” “intends,” “may,” “projects,” “plans,” “could,” “should,” “will,” “continue” and other similar expressions. All statements other than statements of historical fact could be forward-looking statements, which speak only 
as of the date they are made, are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond our control and are difficult to predict. Numbers and percentages used in this report 
are estimates or approximations and may be based on assumptions. We describe risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, any of these forward-looking statements in our SEC 
filings, including our most recent Annual Report on Form 10-K and our subsequent reports on Forms 10-Q and 8-K.Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future 
events or otherwise.

Our Company 
    4

Corporate Profile  
Visa is one of the world’s leaders in digital payments. Our mission is to connect the world through the most innovative, 
reliable and secure payments network — enabling individuals, businesses and economies to thrive. We facilitate global 
commerce and money movement across more than 200 countries and territories among a global set of consumers, 
merchants, financial institutions, businesses, strategic partners and government entities through innovative technologies. 
To learn more, please visit our website, visa.com. 
2019-2021 Financial Results (GAAP) in millions (except for per share data) 
Fiscal Year Ended September 30 
2019  
2020 
2021 
Net revenues
      $22,977 
$21,846 
$24,105 
Operating expenses 
        $7,976 
              $7,765 
                       $8,301 
Operating income
      $15,001 
$14,081 
                   $15,804 
Net income 
 $12,080 
             $10,866 
$12,311 
Shareholders' equity 
$34,684 
             $36,210 
$37,589 
Diluted class A common stock earnings per share 
$5.32 
$4.89 
$5.63 
Visa At a Glance 
Purpose 
Uplift everyone, everywhere by being the best way 
to pay and be paid 
Headquarters 
San Francisco 
Regional Hubs 
Foster City, Miami, Singapore, Dubai, London 
123 
Global Offices and Data Centers 
21,500  
Employees 
Visa Network 
(as of September 30, 2021) 
•  
15,100 financial institution clients 
•  
Nearly 80 million merchant locations 
•  
3.7 billion Visa credentials 
•  
164.7 billion total transactions processed 
(12 months ended September 30, 2021) 
•  
$13 trillion total payments and cash volume 
(12 months ended September 30, 2021) 
2021 Environmental, Social & Governance Report  | 5

Our Environmental, 
Social & Governance 
Approach 
Visa is committed to operating as a responsible, ethical, 
inclusive and sustainable company. As a global leader in 
digital payments, Visa strives to join with clients, partners 
and other stakeholders to empower people, businesses 
and communities to thrive. We focus on mitigating risk and 
creating value across priority environmental, social and 
governance (ESG) issues in five clusters: 
• Empowering People, Communities & Economies 
• Securing Commerce & Protecting Customers 
• Investing in Our People 
• Protecting the Planet 
• Operating Responsibly 
ESG Oversight 
Visa believes in the importance of strong layers of 
governance to ensure proper guidance and oversight is 
provided across our approach to ESG. 
ESG activities are managed at a functional level across our 
strategic and operational areas, with executive and Board 
oversight. Visa’s Chief Sustainability Officer is responsible for 
leading the coordination of oversight and development of our 
global ESG efforts. At the management level, a cross-functional 
group of more than a dozen senior leaders contributes to 
coordinating our ESG strategy and reporting efforts. 
At the Board level, the Nominating and Corporate Governance 
Committee has formal responsibility to oversee and review our 
management of ESG matters, overall ESG strategy, stakeholder 
engagement, formal reporting, and policies and programs in 
specific areas, including environmental sustainability, climate 
change, human rights, political activities and expenditures, 
social impact and philanthropy. 
In 2021, the Board, in full and in individual committees, 
discussed a range of ESG topics, including human capital 
management, inclusion and diversity, climate strategy, 
political contributions and technology – including 
information security and cybersecurity. 
Materiality1 
To inform our ESG strategy, we conduct a biennial materiality  
assessment in accordance with best practice ESG reporting  
guidelines. Our latest assessment, completed in 2021,  
incorporates and reflects recent business developments,  
ESG trends, global regulatory changes and internal and  
external stakeholder expectations that have emerged since  
our last formal assessment in 2019. Our process includes  
benchmarking, identification, prioritization and validation of  
ESG topics. We review direct feedback from shareholders,  
employee surveys and customer and client information  
requests on ESG topics.  
The sections of this report are organized in line with the 
results of our materiality assessment. We use terms such 
as “priority issues” and “significant issues” to refer to our 
material topics in our public disclosures. 
1 In this report, our use of the terms “material,” “materiality” and other similar terms refers to materiality within the context of our ESG programs and priorities. We are not using these terms as they are used under the securities or other laws of the United States or any other jurisdiction or as these terms are 
used in the context of financial statements and financial reporting. 
2021 Environmental, Social & Governance Report  | 6

Stakeholder Engagement 
Through ongoing engagement with our stakeholders to 
understand their views and concerns, we can improve and 
expand our ESG strategic priorities across our business. We 
regularly engage our stakeholders in a variety of ways: 
•  Employees: employee surveys, all-staff meetings, 
manager/employee dialogue, employee resource 
groups (ERGs) 
•  Clients: client councils, payment forums, client surveys, 
direct engagement 
•  Investors: shareholder earnings calls, direct 
engagement, U.S. Securities and Exchange Commission 
filings, investor conferences, ESG ratings firm profiles 
•  Government and policy officials: direct engagement, 
testimony before government bodies, participation 
as panelists at policy gatherings, industry association 
memberships and participation 
•  Civil society organizations: direct engagement, 
conferences and events, memberships in initiatives, 
individual partnerships 
In 2021, we increased our ESG-focused engagement with  
our shareholders by contacting our top 75 investors— 
representing more than 66 percent of our outstanding  
Class A common stock—to discuss Visa’s ESG strategy  
and performance.  
We held ESG-focused meetings with 47 institutional  
shareholders representing approximately 35 percent of  
our outstanding Class A common stock, and provided  
the Nominating and Corporate Governance Committee  
of the Board of Directors a quarterly update on feedback  
from investors. 
ESG-Linked Compensation 
The compensation program for our named executive 
officers (NEOs) promotes retention and rewards 
performance that enhances stockholder value and drives 
long-term strategic outcomes, including the Company’s 
broader ESG efforts. 
There are four primary principles that guide our NEO 
compensation program design and administration: 
•  Pay for performance 
•  Alignment with stakeholders’ interests 
•  Variation based on performance 
•  Motivation and retention of key talent 
For FY21, the Board developed a scorecard approach for 
annual bonuses. In the scorecard, ESG goals are included 
alongside financial, client and other goals that are all critical 
to our corporate strategy and our long-term success. The 
Board reviews Visa’s performance relative to all the goals in 
the scorecard, including ESG goals, when determining NEO 
bonuses for the year. 
In FY21, the annual bonus scorecard included, among other 
topics, goals related to digital enablement of small and 
micro businesses; environment and climate initiatives; 
employee participation in social impact programs; inclusion 
and diversity initiatives; and employee wellbeing programs. 
The same scorecard was used for determining  
the annual funding for Visa’s broad-based employee  
bonus plans. 
Relevant Memberships 
Visa actively participates in ESG-related organizations and 
peer networks focused on various sustainability topics. 
Key memberships include: 
•  Business for Social Responsibility 
•  Business Roundtable 
•  Catalyst 
•  Centre for Sport and Human Rights 
•  Chief Executives for Corporate Purpose 
•  Clean Energy Buyers Alliance 
•  Corporate Eco Forum 
•  Council for Inclusive Capitalism 
•  RE100 
•  Sustainable Brands, Brands for Good 
•  Travalyst 
•  World Business Council for Sustainable Development 
•  World Economic Forum 
2021 Environmental, Social & Governance Report  | 7

Supporting the United Nations 
Sustainable Development Goals 
The United Nations (UN) Sustainable Development Goals (SDGs) provide 
a blueprint for governments, businesses and civil society organizations to 
address the most pressing environmental and social issues globally. At Visa, 
we are committed to helping address sustainable development challenges 
and create inclusive economies and a thriving planet. 
We believe our work contributes most 
to addressing the following nine SDGs 
GOAL 1 
End poverty in all its 
forms everywhere 
GOAL 4 
Ensure inclusive and quality 
education for all and promote 
lifelong learning 
GOAL 5 
Achieve gender equality and 
empower all women and girls 
GOAL 8 
Promote inclusive and sustainable 
economic growth, employment 
and decent work for all 
GOAL 10 
Reduce inequality within 
and among countries 
GOAL 12 
Ensure sustainable consumption 
and production patterns 
GOAL 13 
Take urgent action to combat 
climate change and its impacts 
GOAL 16 
Promote just, peaceful 
and inclusive societies 
GOAL 17 
Revitalize the global partnership 
for sustainable development 
Select Corporate 
Recognition 
Dow Jones Sustainability North America Index
2021, S&P Global 
FTSE4Good Index 
2021, FTSE Russell 
2022 America’s Most JUST Companies
2022, JUST Capital 
World’s Most Ethical Companies
2022, Ethisphere 
Trendsetter 
2021, CPA-Zicklin Index 
World’s Most Admired Companies
2022, Fortune 
Global 2000 World’s Best Employers
2021, Forbes 
World’s Most Valuable Global Brands 
2021, Brandz 
Global RepTrak 100
2022, Reputation Institute 
U.S. 500 
2022, Brand Finance 
Training Top 100
2022, Training Magazine 
2021 Environmental, Social & Governance Report  | 8

Empowering People, 
Communities & Economies 
9

Visa is committed to advancing inclusive, equitable and 
sustainable economic growth for everyone, everywhere. 
We are focused on reaching people who have been 
traditionally underserved, providing them with access 
to resources that can help improve their economic 
livelihoods, businesses and communities. 
Our priorities include: 
• Small and micro business 
• Digital equity and inclusion 
• Community support 
Small & Micro Business 
According to the UN, micro-, small and medium enterprises 
(MSMEs or SMBs) account for 90 percent of businesses, 
60 percent to 70 percent of employment and 50 percent 
of GDP worldwide, making them a vital contributor to the 
world’s economy. 
In 2020, we announced a global commitment to digitally 
enable 50 million small and micro businesses by the end of 
2023. To accomplish this goal, we are introducing a range 
of locally designed programs and solutions that include 
building online businesses, increasing the acceptance of 
digital payments and incentivizing neighborhood support. 
Solutions 
We continue to develop products to advance digital 
equity and economic empowerment, including: 
Visa Acceptance Cloud 
A next-generation cloud-based acceptance platform 
providing a point-of-sale (POS) solution that allows 
business owners to convert any Internet-connected 
device to a POS device, enabling access to a low-cost 
and scalable payments solution. 
Visa Direct 
A payment solution that helps businesses and individuals 
move money between billions of cards and accounts 
worldwide. Businesses can use Visa Direct through their 
financial institutions to deliver fast, simple and efficient 
payments to customers and workers. Individuals can use 
Visa Direct to pay others back, send gifts, share costs and 
support families around the world. 
Scan to Pay 
A Quick Response code-based mobile payment solution 
that allows users to send payments directly from a 
Visa prepaid, debit or credit card account to a range of 
merchants and businesses using just a mobile phone. Scan 
to Pay expands payment options for consumers without 
requiring merchant investment in specialized hardware. 
Tap to Phone 
An app-based solution simplifies payment acceptance 
for merchants of any size. Tap to Phone allows sellers to 
use a mobile application to accept payments without 
any additional hardware, enabling small businesses to 
more quickly connect to the Visa network, fast-tracking 
commerce for sellers around the globe. 
Authorize.net 
A solution that helps businesses create flexible, creative 
digital commerce solutions to help them grow, whether 
they need help digitizing payments, establishing an online 
presence, preventing fraud or streamlining operations. 
Visa has helped to digitally 
enable 30.7 million SMBs 
worldwide, on track to 
achieve our goal of 
50 million SMBs by 20231 
1 As of May 2022 
2021 Environmental, Social & Governance Report  | 10

Skills 
Visa’s Practical Business Skills educational portal houses free 
resources and interactive tools to help business owners 
start, manage and grow their small businesses. The program 
is focused on helping growth-minded entrepreneurs with 
fewer than ten employees thrive via a variety of resources. In 
2021, we expanded the program globally and offer resources 
in English, Spanish, French and Arabic. 
Visa has also built localized online resources in more 
than 20 countries to provide tools, partner offers and 
information on starting, running and growing digital-first 
small businesses. 
Partnerships & Initiatives 
Complementing our support of solutions and skills, Visa 
develops partnerships and initiatives in support of SMBs. 
Recognizing that greater digitization of commerce 
can bring enormous benefits to small businesses, Visa’s 
efforts are focused on helping to ensure both existing and 
newly minted small businesses are well-equipped to 
meet changing consumer demands and embrace the 
digital future. 
Inclusive Fintech 50 
Visa is a founding supporter of the Inclusive Fintech 
50, (IF50), which promotes early-stage fintechs driving 
inclusion and resilience for financially underserved people. 
Companies identified through the initiative offer solutions 
among payments and remittances, savings and personal 
financial management, infrastructure addressing special 
challenges of underserved customer segments, credit or 
insurance. IF50 aims to make these startups more visible 
to investors and partners who can provide capital and 
connections. 
Over the last three competitions, IF50 has attracted over 
1,000 eligible applicants. Past winners have collectively 
increased their funding by $620 million in the year 
following their win. Winners benefit from access to 
zero-cost tools such as Visa’s Practical Business Skills and 
Practical Money Skills. 
Visa Everywhere Initiative (VEI) 
VEI is a global innovation program that tasks startups to 
solve payment challenges of tomorrow, further enhance 
their own product propositions and provide visionary 
solutions for Visa’s network of partners. 
The program first launched in the U.S. in 2015. Since 
then, VEI has engaged 8,500 startups in more than 100 
countries. Collectively, these startups have raised over 
$16 billion in funding.1 
1As of the 2022 competition cycle 
VEI is committed to supporting diversity in the startup 
community as a platform for brilliant innovators of all  
races, ethnicities, ages, genders and sexual orientations. 
For example, in 2021 we partnered with StartOut to help  
shine a spotlight on remarkable LGBTQ+ entrepreneurs. 
National Football League (NFL) 
As the official payment services technology partner of the 
NFL, Visa ran a season-long commitment to support small 
businesses as part of its partnership with the NFL. Visa 
teamed up with several teams to give away grants totaling 
$60,000 to support Black-owned small businesses in and 
around New York City and Santa Clara, California that have 
been impacted by COVID-19. 
Visa Economic 
Empowerment Institute 
In 2020, we launched the Visa Economic 
Empowerment Institute (VEEI), an independent, non­
partisan center of excellence for research and public-
private dialogue on payments policy. The VEEI’s 
overarching mission is to promote public policies that 
empower citizens, small businesses and economies. 
It develops new research and insights to inform long­
term policy within the global payments ecosystem. 
Visa established VEEI as the next step in our 
ongoing mission to remove barriers to economic 
empowerment and to create more inclusive, equitable 
economic opportunities for everyone, everywhere. 
A team of fellows, composed of subject matter 
experts in payments, development finance, 
international trade, cybersecurity and other key 
issues, apply Visa’s global insights and expertise 
to help governments create more inclusive digital 
economies. The three focus areas of the VEEI are 
fostering digital equity and inclusion, unlocking 
growth through trade and imagining an open future 
for payments. 
2021 Environmental, Social & Governance Report  | 11

Digital Equity 
& Inclusion 
Communities and economies thrive when all individuals are  
included in the formal financial system and can benefit from  
financial and digital access. Our initiatives and partnerships 
focus on helping to enable equitable access to the financial 
and digital ecosystem for everyone, everywhere. 
The following section provides illustrative examples of how 
Visa continues to support digital equity and inclusion. 
Financial Education 
Greater financial knowledge can empower people to better 
manage their money and improve their quality of life. Our 
award-winning global financial literacy initiative, Practical 
Money Skills, strives to link consumers, educators, banks 
and governments to the tools and resources they need, 
helping individuals and communities develop their money 
management skills. 
Practical Money Skills programs have now been offered in 
48 countries and 19 languages and reached more than 3.2 
million individuals during 2021. 
Government Disbursements 
The COVID-19 pandemic highlighted the increased need for 
government disbursement programs that enable quick and 
efficient distribution of financial support to people in need. 
Visa worked with governments to reach individuals without 
bank accounts and encourage people to spend locally and 
help stimulate economic recovery. 
Visa Government Prepaid is an electronic disbursement 
method that replaces paper checks for disbursement of 
government benefits (such as Unemployment Insurance, 
Child Support and Temporary Assistance to Needy Families). 
For benefit recipients, especially those without a banking 
relationship, Visa Government Prepaid cards provide a safer 
alternative to carrying cash and checks and are a convenient 
way to receive government disbursements. 
Gig & Hourly Workers 
Visa continues to develop new services and work with 
external partners to support gig and hourly workers as the 
gig economy grows. Visa and our Earned Wage Access 
technology partners help accelerate payments to workers 
through Visa Direct, enabling workers to access and 
transfer earned wages to their bank accounts or eligible 
debit cards in real time, rather than after the typical two-
week pay cycle.1 
1 Actual fund availability varies by receiving financial institution, receiving account type, region and whether the transaction is domestic or cross-border 
In 2021, we continued supporting gig workers through 
previously established programs and partnerships, 
including with DailyPay, FlexWage, Instant Financial, 
PayActiv, Wagestream and ZayZoon. 
2021 Environmental, Social & Governance Report  | 12

Women’s Economic Empowerment 
Expanding women's inclusion in the financial system 
has significant economic benefits. Our goal is to increase 
the number of women who control capital, the number 
of women entrepreneurs who can access that capital 
and the number of women who benefit from those 
businesses as employees or customers. 
Visa’s support of women’s economic empowerment 
includes the following examples: 
She’s Next 
The challenges that women entrepreneurs face are universal. 
Together, Visa in collaboration with IFundWomen, have been 
creating access to funding and education for women-owned 
small businesses around the world through the Visa She’s 
Next Grant Program. 
In 2021, we launched the She's Next Grant Program in the  
U.S., Canada, Ireland and India, providing 85+ grants totaling  
approximately $950,000. 
We also partnered with Black Girl Ventures, The Female 
Quotient and IFundWomen to support Black women owned 
businesses in six U.S. cities, including: 
•  Extended She’s Next Grant Program to award 60 
Black women entrepreneurs with a $10,000 grant, one 
year coaching membership to IFundWomen and Visa 
Business Solution partner offers. 
•  Partnered with Black Girl Ventures to provide small 
businesses with a set of digital products and education 
they need to thrive. 
•  Visa and The Female Quotient hosted a virtual She’s Next 
event focused on celebrating the Black community and 
women entrepreneurs in D.C. 
Women in Sports 
Sports present a significant opportunity for women 
to pursue their dreams, both on and off the field. We 
underscore our commitment to champion economic 
empowerment through our efforts to empower women at 
the intersection of business and athletics. 
Visa supports the U.S. Women’s National Soccer Team 
and invests in women’s soccer through partnerships 
with Union of European Football Associations’ (UEFA) 
Women’s Football and Visa’s longstanding partnership 
with the Federation Internationale de Football Association 
(FIFA), including the FIFA Women’s World Cup™, FIFA U-17 
Women's World Cup™ and FIFA U-20 Women's World Cup™. 
Community Support  
At Visa, we are committed to using our time, talent and 
resources to support and strengthen the communities and 
markets in which we operate. 
At the Visa Inc. corporate level, we engage locally through: 
•  Community Giving 
•  Employee Giving & Volunteering 
•  Humanitarian and Disaster Relief 
Visa Foundation focuses its philanthropic efforts through: 
•  Community Giving 
•  Humanitarian and Disaster Relief 
•  Supporting SMBs 
In 2021, Visa Inc. contributed approximately $21.5 million 
to charities around the globe, while Visa Foundation 
funded approximately $25.9 million in grants. This 
includes matching gifts and other amounts described 
throughout this section. 
2021 Environmental, Social & Governance Report  | 13

2021 Giving Highlights 
$21.5 million 
Visa Inc. Total 
$25.9 million 
Visa Foundation Total 
Employee Giving and Volunteering 
Visa employees around the world are empowered 
to give through donations of time and funds. Visa 
amplifies employees’ efforts to support causes important 
to them through: 
Matching Gifts 
Visa offers to match employees’ personal donations 1:1 
up to USD $10,000 per year; we also offer 2:1 matching in 
response to major disasters and other significant events. 
Volunteer Time Off (VTO) 
Visa offers two days of VTO each year to eligible employees 
to volunteer for the charity or activity of their choice during 
work hours. 
Dollars for Doers 
Employees can earn $10 per hour spent volunteering, up to 
$500 per year, to contribute to the charities they support, 
plus each quarter, two employees from each Visa region 
are awarded $1,000 to give back to a charity of their choice. 
Team Volunteer Events 
Team volunteering opportunities are organized, 
encouraged and supported. In 2021, we offered 
more opportunities for virtual volunteering. 
Community & Volunteering Councils 
We engage voluntary Community & Volunteering Leaders 
around the world to facilitate our programs while also 
gaining leadership development opportunities. 
For fiscal year 2021, Visa leadership set a goal of 70% 
employee participation in impact programs through 
donating, volunteering, directing loans to small  
businesses through the Visa Foundation and Kiva 
partnership and more. We exceeded this goal with 
participation from 85% of Visa employees. 
At Visa, we believe that volunteering in the communities 
in which we live and work is the most impactful way our 
employees can give back, while also developing their skills. 
In 2021, more than 4,200 employees from 53 countries 
volunteered 43,600 hours. 
In employee giving in 2021, nearly 6,000 employees 
donated to 5,800 charities in 73 countries, matched 
by Visa for a collective $14.7 million. For Giving Tuesday, 
Visa offered a double match for employee donations up 
to $1,000. On that day, 4,200 employees participated 
and, combined with Visa's match, donated $7.1 million to 
4,400 organizations. 
In 2021, Visa stood with our Asian American and Pacific 
Islander (AAPI) employees, partners and clients in the 
U.S. amid heightened discrimination against the AAPI 
community. In response to violent actions against the 
AAPI community in Atlanta in 2021, we double-matched 
employee donations to Stop AAPI Hate, AAPI  
Community Fund and Asian Americans Advancing  
Justice, raising $160,000. 
Employees also helped support SMBs through Visa 
Foundation’s partnership with Kiva, a crowdfunding 
microfinance organization. Through grant funding from 
Visa Foundation, Visa employees had the opportunity 
to direct $50 each in loans to SMBs on the Kiva platform. 
In 2021, 82% of employees participated in this effort 
and collectively helped distribute $850,000 in loans to 
more than 21,000 SMBs in underserved communities. 
Collectively between 2020 and 2021, we directed $1.5 
million in loans to 38,000 small businesses in 38  
countries worldwide. Visa won a Gold Halo  
Award for Employee Engagement for the Kiva and  
Visa Foundation Partnership. 
In 2020, Visa launched an employee mentorship program 
with Bridge for Billions. Through this online program, Visa 
employees mentor Black, primarily women-owned SMBs 
in the U.S. on a three-month incubation journey to help 
them review their business models, define their financial 
projections, create growth plans for their ventures and more. 
In 2021, we engaged over 60 SMBs through the Bridge for 
Billions program. 
Visa also partnered with Digital Boost, a nonprofit digital 
upskilling platform, to support UK-based small businesses 
seeking to digitize as a result of the COVID-19 pandemic. 
Through this program, Visa employees apply their areas of 
expertise to mentor small businesses. Through the end of 
2021, we supported over 166 SMBs in the U.K. through our 
partnership with Digital Boost. 
2021 Environmental, Social & Governance Report  | 14

Humanitarian & Disaster Relief 
Visa responds to humanitarian crises and disasters in 
communities around the globe by contributing our 
resources and unique capabilities in partnerships  
with governments, international relief groups and  
private organizations. 
Throughout 2021, Visa Inc. and Visa Foundation provided 
support to charities providing humanitarian aid following 
major natural disasters around the world: 
•  Hurricane Eta and Hurricane Iota in Central America 
•  Typhoon Goni and Typhoon Vamco in the Philippines 
•  Mt. Nyiragongo Eruption in Democratic Republic of the 
Congo and Rwanda 
•  Flooding in Central Europe 
•  Hurricane Ida in the U.S. 
Visa Foundation is an Annual Disaster Giving Program 
member of the American Red Cross, representing a 
commitment of $500,000 annually to help the Red Cross 
prepare for disasters across the U.S., such as Hurricane Ida. 
Visa Foundation 
Visa Foundation launched the Equitable Access Initiative 
in 2020, a five-year, $200 million strategic commitment 
to support gender diverse and inclusive SMBs around the 
world. As a part of the initiative, Visa Foundation will provide 
at least $60 million in grants and $140 million in impact 
investments to organizations at the forefront of economic 
justice and entrepreneurship. 
Through its investments and grant-making activity, Visa  
Foundation partners with organizations that provide 
catalytic capital, capacity building and support services. 
Additionally, Visa Foundation uses capital as a tool to enable 
the flow of investment capital to gender diverse SMBs. 
Visa Foundation’s activity has a global reach with a deep 
commitment to emerging economies and underserved 
communities driving gender equity. 
In 2021, Visa Foundation committed $18.1 million in grants 
and $50.5 million in impact investments via its Equitable 
Access Initiative. Additionally, Visa Foundation continued 
a five-year, $20 million partnership with Women’s World 
Banking to support women-owned SMBs around the world. 
Women's World Banking drives impact through its scalable, 
market-driven financial and policy solutions, gender lens 
private equity fund and leadership and diversity programs. 
Visa Humanitarian Aid 
Support in Ukraine 
Following the Russian invasion of Ukraine in early 2022, Visa 
Inc. took swift action to ensure the safety and security of 
our people who were directly impacted. Visa Foundation 
provided a $2 million grant to the U.S. Fund for United 
Nations Children’s Fund (UNICEF) to support humanitarian 
aid to the people of Ukraine. 
Visa Inc. also double-matched all reported employee 
donations to the Ukraine response funds of UNICEF and 
the Red Cross, raising almost $1.4 million between reported 
employee donations and Visa match. Visa Inc. and its 
clients waived interchange fees in the U.S., Canada and 
many European countries to numerous charities providing 
humanitarian aid. 
2021 Environmental, Social & Governance Report  | 15

Securing Commerce & 
Protecting Customers 
16

Payments Security  
Visa’s ecosystem is a network of networks that enables 
participants to move money for everyone, everywhere. 
For payments security, we are committed to making our 
ecosystem the most secure, resilient and trusted engine 
of commerce. We continuously scan the ecosystem to 
identify and invest in new capabilities, work with clients to 
help secure the environment and take action to improve 
the security, integrity and resiliency of our network. 
We invest in innovation to build and maintain trust for 
our network and the broader payments ecosystem. 
Specifically, we have invested approximately $9 billion in 
cybersecurity over the past five years, with about $500 
million of that specifically allocated to data and artificial 
intelligence (AI) capabilities. We continue to evolve our 
security capabilities and work to lower our global fraud 
rate, which is at an all-time low of $0.07 for every $100 in 
payment volume on our network. 
The Visa Intelligent Security framework offers our 
ecosystem partners dynamic, data-rich solutions that help 
balance fraud reduction and dispute prevention. Our aim 
is to increase approvals so that businesses can thrive while 
customers are protected and satisfied — no matter where 
or how they are paid or pay. 
The Intelligent Security framework spans the entire 
transaction lifecycle: 
Onboarding & Management 
Provide financial institutions with tools to identify identity 
fraud at account opening. Through our financial institution 
clients, we provide tools to manage security, including 
account use restrictions and customizable alerts. 
Consumer Identity & Authentication 
Apply artificial intelligence-powered authentication 
strategies to prevent unauthorized access to Visa accounts. 
Transaction Authorization 
Use tools such as Visa Advanced Authorization, which 
applies real-time AI and machine learning to evaluate the 
trustworthiness of transactions to prevent fraud without 
inconveniencing consumers. 
Dispute Management 
Help consumers and issuers proactively address 
transaction disputes with Visa tools such as Verifi, which 
provides issuers and customers access to transaction 
information from sellers via a global data-sharing network. 
Performance Optimization 
Enhance payment performance by reducing fraud and 
increasing efficiency. 
We continue to work with clients across different regions 
to meet their unique needs and accelerate the adoption of 
these solutions. 
We measure the effectiveness of our approach to 
payments security on an ongoing basis. We monitor 
metrics such as fraud rates for Card Present and Card 
Not Present scenarios as well as transaction volumes 
that leverage secure technologies, such as 3-D Secure 
or Tokenization. Additionally, we implement capability 
roadmaps for digitalization and automation. We improve 
the operational resilience of our network by engaging 
with ecosystem participants to gather perspectives, 
benchmark our thinking and approach and steer our 
security investments. 
Visa Advanced Authorization 
and Visa Risk Manager used AI 
and machine learning to help 
reduce fraud by $26B in 2021. 
2021 Environmental, Social & Governance Report  | 17

AI-Powered Innovations 
for Smarter Payments 
Visa is leveraging AI to improve our customer experience and enhance processes that enable the movement of billions 
of dollars across thousands of institutions in more than 200 countries and territories and 160 currencies. In February 2021, 
Visa announced VisaNet +AI, a suite of AI-powered services that enhance predictability, transparency and speed in the 
payment experience. VisaNet +AI includes Visa Smarter Posting and Visa Smarter Settlement Forecast, as well as Visa 
Smarter Stand-In Processing (STIP). 
Smarter Posting 
When a restaurant-goer adds a tip, or when a cross-border payment involves multiple currencies, the amount 
authorized in real time at checkout can differ from the amount eventually cleared from a consumer’s account. Banks 
often delay posting the payment or updating the account balance until they have certainty about the final amount. To 
help issuers create a better banking experience for cardholders, Visa developed Smarter Posting, a service that uses AI 
to deliver a customized score for each transaction as part of the authorization process. The Smarter Posting model 
analyzes transaction details and historical data to predict the likelihood that a transaction amount will remain consistent 
through clearing. 
Smarter Settlement Forecast 
As the final step in the payment cycle, transactions are aggregated, transfers are facilitated between acquirers 
and issuers, and merchant accounts are credited for completed sales. Visa created Smarter Settlement Forecast to 
provide financial institution clients with customized 7-day forecasts of the settlement amount they may need on hand 
each day. The service uses information generated by historical settlement volumes, seasonal indicators, macro-trends, 
outlier events and real-time transaction data to provide high-quality predictions of cash outflows and inflows. 
Smarter Stand-In Processing 
Smarter STIP uses deep learning to help financial institutions increase transaction authorizations during outages. 
Smarter STIP generates an informed decision to approve or decline transactions on behalf of issuers to provide 
consumers with a frictionless Visa payment experience. 
2021 Environmental, Social & Governance Report  | 18

Cybersecurity at Visa  
Recognizing that the cyber threat landscape continues to 
evolve, Visa is committed to championing cybersecurity 
within our operations. 
We use an established risk assessment methodology and 
framework to identify cybersecurity risks and associated 
business impacts. Over the past several years, Gartner 
Consulting assessed Visa’s security posture and assigned 
Visa its highest rating among peer companies for the 
overall maturity of our cybersecurity program. 
At Visa, we build and use AI to detect and secure cyber 
threats. We approach cybersecurity with a layered 
defense-in-depth strategy. We further advance our 
capabilities based on our core areas of focus, including 
enhancing our architecture, expanding our data security 
program to include unstructured data and conducting 
continuous security and efficacy efforts. Visa developers 
build security into applications with the very first lines 
of code. We augment our core detection capabilities 
with a proactive approach, where we “hunt” for traces of 
malicious activity to intercept would-be attackers. 
Visa uses novel innovation in the new field of behavior 
biometrics coupled with the economics of vendor 
offerings to champion the development of AI products 
that support cybersecurity. Our cybersecurity team 
develops solutions in-house to meet our stringent 
security requirements. Customized Visa-engineered  
solutions include Visa Behavior Analytics and the Self-
Defending Platform.  
Visa Behavior Analytics defends against digital identity 
fraud by providing strong consumer authentication. By 
building our own products, we keep cybersecurity data 
in-house, compared to previous models which outsourced 
data to a black-box model. 
Visa also makes year-over-year investments to improve 
our cybersecurity capabilities. We continue to implement 
new technologies and processes to enhance our security 
posture against emerging threats. 
No single technology in isolation can stop every threat. 
We deploy multiple redundant layers of preventative and 
detective technologies across our network and data layers. 
In the rare event cyber criminals succeed in breaching 
one layer, the doors beyond that layer are locked. We 
collaborate and share our security approach with industry 
peers, clients and competitors. 
Our cybersecurity approach is supported by robust  
governance processes which involve regular reporting to  
management- and Board-level committees responsible  
for risk management and cybersecurity oversight. We  
provide regular updates to the full Board, including an  
annual in-depth review. 
The following sections describe some of the components we 
use to enact our cybersecurity strategy across the business. 
Policy & Training 
Visa’s cybersecurity policy framework, the Key Controls, 
details our approach to protecting our information 
and technology assets, including the safe handling of 
consumer nonpublic personal information. The Key 
Controls are reviewed at least annually and updated as 
needed to address any changes to industry or regulatory 
requirements, new technologies or emerging threats. 
We provide new employees with security awareness 
training and conduct annual Key Controls training for all 
staff, to promote good cyber-hygiene and familiarity with 
Visa processes and tools. In 2021, 100% percent of eligible 
employees completed Key Controls training. Additionally, 
Visa Cybersecurity has launched an e-curriculum of online 
training modules covering such topics as Phishing, Data 
Security, Security Assessment and more. 
We publish cybersecurity awareness content to 
employees across multiple enterprise channels throughout 
the year. These include intranet pages dedicated to various 
topics such as phishing prevention and secure file transfer, 
periodic blog articles covering seasonal threats and 
relevant tips, such as secure remote working, executive 
announcements on key themes and instructor-led training 
and speaker sessions. 
Each October, Visa celebrates Cybersecurity Awareness 
Month with a month-long, multi-channel messaging 
campaign, including online articles, training modules, 
speaker sessions and additional online content. 
2021 Environmental, Social & Governance Report  | 19

Adaptive Resiliency 
We regularly conduct cross-functional response and 
resiliency exercises involving multiple internal teams as 
well as external partners and agencies. 
In 2021, we further evolved the Visa Cyber Fusion 
Framework to drive an active and adaptive global Cyber 
Defense capability. This capability allows us to scale to 
meet the increasing threat landscape through the ability 
to rapidly collect, analyze and use cyber threat intelligence 
while providing continuous real-time validation of our 
security tools and assets. We augment our data with 
intelligence from hundreds of unique sources to enhance 
detection and response capabilities. 
We also leverage AI and deep learning technology to 
monitor our network and understand the threats aimed 
at our company. As cybersecurity risks continue to 
develop, we are focused on maintaining our security 
posture ahead of the evolving threat landscape. We 
strengthened our supply chain by completing additional 
risk assessments. Our efforts to mitigate risks, including 
malware attacks, data breaches and phishing scams, 
focus on continuous cybersecurity threat identification. 
Audits & Third-Party Certifications 
To promote the effectiveness of our cybersecurity 
approach and systems, we conduct annual internal and 
external audits of our IT infrastructure and applications. 
These systems also are subject to examination by the 
Federal Financial Institutions Examination Council (FFIEC) 
and other regulators from across the globe. Examples of 
external reviews include: Payment Card Industry Data 
Security Standard, Statement on Standards for Attestation 
Engagements (SSAE-18) and International Standard on 
Assurance Engagements (ISAE) 3402. 
In addition, we are subject to privacy and data security 
laws, such as the Gramm-Leach-Bliley Act (GLBA) and the 
European Union General Data Protection Regulation (GDPR). 
Data Privacy 
At Visa, building trust begins with a commitment to 
privacy and security, which instills confidence in our 
employees and clients, protects our brand and allows 
us to innovate responsibly. We believe consumers 
expect convenience, security and privacy from their 
payment experiences. 
To meet these expectations, Visa makes 
the following commitments: 
•  We adhere to high ethical and legal standards 
everywhere we operate. 
•  We do not sell personal information. Our Global Privacy 
Notice describes how we share information, such as 
when we process payments, provide services to card 
issuers, prevent fraud or with a cardholder’s consent. 
•  We use personal information only for defined, 
appropriate purposes. In addition to operating one of 
the world’s largest electronic payments networks, we 
provide authentication, fraud management, loyalty, 
consulting and data processing services. We also create 
data products that give our clients insights into their 
business performance. These products contain data that 
is de-identified to protect consumer privacy. 
•  We support our commitments with a dedicated 
global privacy program, employee training and 
rigorous assessments. 
At Visa, we have accountable executives and hundreds of 
dedicated security, privacy and data professionals working 
around the world on these topics. Our Global Privacy 
Office, composed of dozens of privacy professionals 
around the world, is led by Visa’s Chief Privacy Officer and 
closely coordinates with several cross-functional teams 
and governance bodies, including our Cybersecurity and 
Data Governance operations. 
The Corporate Risk Committee and the Visa Board’s 
Audit and Risk Committee oversee the Global Privacy 
Program and the risks related to data privacy, including our 
compliance with current and emerging data protection 
laws around the world. 
2021 Environmental, Social & Governance Report  | 20

Responsible Data Use 
We utilize data to improve the security and value of the 
Visa network, better serve our clients and partners, 
protect consumers from fraud and drive positive impact 
for communities and economies around the globe. 
We recognize consumers are concerned about how 
their data is collected, used, shared and kept secure. 
Our privacy commitments are outlined in our Privacy 
Notices and, where we market services directly to 
consumers, in the terms and conditions of those programs. 
In addition to our Global Privacy Policy and the internal 
standards that form the basis of our Global Privacy Program, 
we developed a set of Data Values to capture, in plain 
language, the principles we believe should apply when 
companies collect consumer data. These values inform 
Visa’s role as a leader in the payments ecosystem. Data 
innovation is a vital component of Visa’s strategy — and 
in everything we do — built on our 60-year legacy of 
responsible data stewardship. 
Security 
Individuals and businesses should have confidence that 
Visa payment data is safe. There is no higher priority 
for Visa than safeguarding those who use our products, 
services and network. 
Control 
Visa will always strive to provide simple explanations 
regarding how data may be used and to empower individuals 
with easy processes to manage use of their data. 
Value 
Data use at Visa should benefit individuals, businesses 
and economies. We strive to do this by delivering greater 
security, financial inclusion and consumer convenience. 
Fairness 
Visa’s application of data and data-driven insights aims 
to be fair and inclusive and avoid discrimination. Visa will 
strive to make our models explainable, accurate and safe. 
Accountability 
Visa’s approach to data use should be consistently applied 
at all levels of the organization and be embedded through 
process, training and management responsibilities. 
These principles, which are aspirational, may evolve over time  
based on the needs of consumers, businesses and economies  
and to adapt to new privacy and data-related regulations and  
standards that may emerge. As Visa’s business moves into  
new technologies, payment flows and value-added services,  
we are committed to engaging with policymakers and  
regulators worldwide to participate in the development and  
harmonization of privacy regulations and standards. 
Responsible Use of 
Artificial Intelligence (AI) 
Bias, or the potential of producing unlawful or undesired 
discrimination, is one of the greatest risks posed by AI. Bias 
can enter the product lifecycle at many stages, and Visa 
believes that mitigation needs to exist at all stages. Visa’s 
Model Risk Management (MRM) tests models for statistical 
integrity as well as unintended impacts, like bias. 
Visa has developed an extensive, multi-layered governance 
and accountability structure, including operational, legal, 
privacy and risk-based frameworks. We have established 
several internal committees to help ensure our governance 
and internal values are applied, including the MRM 
Committee and the Visa Data Use Council. 
2021 Environmental, Social & Governance Report  | 21

Transaction Integrity 
Visa connects the world through the most innovative, 
reliable and secure payments network — enabling 
individuals, businesses and economies to thrive. Visa 
is committed to ensuring the integrity of our payment 
system. We do not tolerate the use of our network and 
products for illegal activity, and we are vigilant in our efforts 
to deter illegal activity on our network. 
Our approach to protecting the network is grounded 
in the Visa Rules and our robust compliance programs. 
When participants on the network are unable to meet our 
requirements, we levy financial penalties and, based on the 
circumstances, suspend or terminate them from our system. 
Visa’s Global Brand Protection Program, for example, 
manages situations where the Visa brand is associated with 
high-risk or potentially brand-damaging activities, such as 
internet gambling, pharmaceutical sales and adult content. 
As part of the Program, Visa: 
•  Maintains registration requirements for acquirers and 
merchants, pursuant to which acquirers attest to their 
compliance with our standards. 
•  Provides acquirers guidance and direction on controls to 
help comply with Visa’s rules. 
•  Proactively monitors participant activity via machine-
learning solutions. 
•  Works with acquiring banks to identify and terminate 
merchants that are selling illegal items and services. 
•  Engages with law enforcement to stay abreast of 
ecosystem risks. 
•  Supports the U.S. Financial Coalition Against Child 
Exploitation and the U.S.-based National Center for 
Missing & Exploited Children. 
•  Combats counterfeiting and piracy in partnership with 
the International Anti-Counterfeiting Coalition. 
Visa is a member of the Alliance for Safe Online Pharmacies, 
a global initiative that works to combat illegally sold 
prescription medicines. 
Visa continues to respond to situations that developed 
during the COVID-19 pandemic, including by partnering 
with government agencies to identify and address 
merchants offering fake and/or unapproved COVID-19 
cures, treatments and test kits online. 
2021 Environmental, Social & Governance Report  | 22

Investing in Our People 
23
23

2021 Environmental, Social & Governance Report   |   24
Inclusion & Diversity
Visa has made social justice and racial equality a business 
imperative. In 2020, our CEO made a public commitment 
to Stand Together, our effort to address social and racial 
inequality within Visa and around the globe through actions 
focused on our people, our community and our company. 
To support these efforts, in 2021 we welcomed Michelle 
Gethers as our Chief Diversity Officer & Head of Corporate 
Responsibility — a role that reports directly to our CEO and 
sits on the Visa executive committee. 
We are committed to undertaking the next steps in our 
journey, with the goal of driving lasting change through:
• Our people
• Community Allyship
• Our company
Our People
At Visa, we want our employees to feel like they belong. We 
invest in a workplace that encourages diversity of thought, 
culture and background so that diverse perspectives are 
embedded in the work that we do. We create an inclusive 
workplace by encouraging employees to come as they are 
and by investing in robust inclusion and diversity training. 
hiring panels. We also instituted a Quarterly Business 
Review specifically focused on Inclusion & Diversity for 
deeper understanding of proactive progress.
We are committed to creating and maintaining a diverse 
talent pipeline. In the United States, we have embedded 
our commitment to diversity and inclusion in the hiring 
process, including diverse candidates in all job slates and 
By committing to building, developing and investing in 
Black and African American and Latinx employees, as well 
as employees from other historically underrepresented 
groups, we can create more socially and racially  
equitable teams. 
Visa has established goals to build a more equitable 
workforce. In 2021, we made strong progress toward our 
two primary goals:
• Increasing the number of employees from historically 
underrepresented groups at the vice president level and 
above in the U.S. by 50% by 2023.
• Increasing the number of historically underrepresented 
Visa employees in the U.S. by 50% by 2025.
Gender in Global Workforce
Gender in U.S. Workforce
Ethnicities in U.S. Workforce
Women
42%
Men
58%
Women
42%
Men
58%
Black
7%
Asian
41%
White
37%
Other2
3%
Hispanic
12%
Gender in Global Leadership
Gender in U.S. Leadership
Ethnicities in U.S. Leadership
Women
35%
Men
65%
Women
35%
1
1
1
Men
65%
Black
6%
Asian
20%
White
59%
Other2
2%
Hispanic
12%
Data is based on company records as of September 30, 2021.
1 Leadership: VP and above.
2 Other: American Indian/Alaska Native, Native Hawaiian/Other Pacific Islander and two or more races. Ethnicity data does not include undeclared and blanks.
Workforce Demographics

In 2021, we conducted the following initiatives to help 
achieve these goals: 
•  Expanded new talent experience programs to develop 
and advance Black and African American talent and 
other historically underrepresented groups, including 
partnering with the McKinsey Leadership Academy for 
Senior Director+ talent and our own cluster coaching 
program for employees up to the Senior Director level. 
•  Launched Visa Black SUCCEED (Supporting 
Underrepresented Coaching Clusters Engaged in 
Executive Development) Program, an in-house 
program open to all Black and African American 
employees at the senior director level and below. 
Program participants are coached by Vice President 
and Senior Vice President level executives. 
•  Continued evolving mentorship programs for Black and 
African American Senior Directors and career sponsorship 
of Black and African American Vice Presidents. 
•  Announced the inaugural class of 50 Visa Black 
Scholars and Jobs Program participants. In partnership 
with the Thurgood Marshall Foundation College Fund, 
the Visa Black Scholars and Jobs Program includes a 
$10 million investment from Visa over the next five 
years. Through the program, select college-bound 
Black and African American high school students in 
the U.S. will receive yearly scholarship assistance, 
mentorship from Visa employees and the opportunity 
for an immersive internship experience. Those who 
meet all program requirements will receive a full-time 
job offer with Visa after graduation. 
•  Introduced Leading and Belonging at Visa, a new 
learning experience for leaders, created in partnership 
with the Perception Institute, an organization 
that translates mind science research on race and 
other identities into solutions that reduce bias and 
discrimination and promote belonging. 
Pay Equity 
At Visa, men and women earn the same pay for the 
same work globally, and the same is true for historically 
underrepresented employees and their white peers in 
the U.S.1 
1 Equal pay analysis is based on FY21 total compensation, which includes base salary, VIP (Visa Incentive Plan) and LTIP (Long-Term Incentive Program).  
As part of building our inclusive and equitable organization, 
we are committed to tracking, measuring, evaluating and 
reporting annually on our workforce demographics and 
pay equity. Visa conducts pay equity assessments on an 
annual basis. 
Equal pay for equal work. 
Men and women earn the 
same pay for the same work 
globally, and the same is true for 
underrepresented employees 
and their white peers in the U.S. 
Underrepresented employees are Black/African American, Hispanic/Latinx, American Indian/Alaska Native, Native Hawaiian/Other Pacific Islander or two or more races.  
2021 Environmental, Social & Governance Report  | 25

Employee Resource Groups 
The Visa community-focused Employee Resource Groups 
(ERGs) complement our broader corporate inclusion and 
diversity efforts and help foster an inclusive workplace 
environment that seeks to fully take advantage of 
employees' talents, skills and abilities. ERGs include: 
•  Latinx Connect 
•  Military (MERG) 
•  Native American 
•  Parents & Caregivers 
•  Visa Asian Employee Network (VAEN) 
•  Visa Black Employees (ViBE) 
•  Visa Employees with Disabilities (ViAble) 
•  Visa Indian Alliance (VINA) 
•  Visa Pride 
•  Visa Women’s Network (VWN) (includes Women in 
Business, Women in Finance, Women in Product, 
Women in Technology) 
•  Young Professionals at Visa (YP@V) 
Supporting LGBTQ+ Employees 
Visa celebrates the individuality of all employees and 
is committed to building an inclusive culture where 
all employees feel they belong, no matter whom they 
love. Visa is a proud supporter of the Lesbian, Gay, Bi, 
Transgender, Queer and other (LGBTQ+) community. 
This commitment extends to our benefits programs, 
which take into account the unique needs of the LGBTQ+ 
community. In 2021 we partnered with the Pride ERG to 
develop the LGBTQ+ Benefits Toolkit, a high-level overview 
of the benefits available to Visa employees in the U.S. that 
may be of particular interest to members of the LGBTQ+ 
community, including: 
•  Transgender Healthcare 
•  HIV Prevention Prescription Coverage 
•  LGBTQ+ Family Planning 
•  Adoption & Surrogacy Assistance 
•  Flexible Spending Accounts for LGBTQ+ related services 
As part of Transgender Day of Visibility, in 2021 we highlighted 
our partnership with Daylight, the first digital bank to address 
the unique financial needs of the LGBTQ+ community. 
Additionally, Visa partnered with Chase and United Airlines 
to support the Human Rights Campaign, StartOut and The 
Trevor Project to drive donations to these organizations 
supporting the LGBTQ+ community. 
Supporting Employees with Disabilities 
Visa welcomes talented people with diverse backgrounds 
and perspectives to help make the business and company 
culture better. We also recognize the unique contributions 
of employees with disabilities. Neurodiversity, like 
any other form of diversity, provides input of different 
information and perspectives, leading to better decision 
making and problem solving. Visa Employees with 
Disabilities (ViAble), in partnership with the Talent 
Acquisition team, launched a neurodiversity hiring pilot 
in 2019 to help ensure Visa’s workplace remains one of 
inclusivity and support for neurodiverse colleagues. 
To celebrate contributions, ViAble and the Inclusion 
and Diversity team hosted virtual events throughout 
April to recognize Autism Awareness Month. Events 
featured a speaker series from the National Autistic 
Society, neurodiversity training for Visa employees and 
conversations with neurodivergent athletes. 
Community Allyship 
We believe that active allyship is key to fostering an 
inclusive workplace. We encourage employees to build 
knowledge of colleagues' backgrounds and experiences. 
We provide training opportunities to equip our employees 
with resources and tools to become active allies and 
learn behaviors that build a workplace where diverse 
perspectives are voiced and heard. 
Allyship efforts include promoting educational dialogue 
through our Stand Together resources, including a 
Global Inclusion Talks speaker series. This series provides 
historical context on racism and identifies actions 
employees can take to demonstrate solidarity and build 
a better understanding of the experiences of historically 
underrepresented groups. We encourage employees 
to combat unconscious bias by participating in internal 
courses on our virtual learning platforms. In addition, new 
manager training is designed to reinforce a culture of 
inclusion and allyship. 
2021 Environmental, Social & Governance Report  | 26

Throughout 2021, Visa employees mobilized to help 
advance social justice, racial equality and inclusion in 
the community: 
•  Visa employees hosted coding camps for historically 
underrepresented youth. 
•  We expanded the focus of pro bono legal efforts to 
address police discrimination and provided legal services 
to minority-owned small businesses and asylum seekers 
stranded in Mexico with asylum applications. 
•  Visa Chairman & CEO Al Kelly participated in the 2021 
Bloomberg Equality Summit, discussing Visa’s progress 
to become a more inclusive and diverse company. 
•  Visa Chief Diversity Officer & Head of Corporate 
Responsibility, Michelle Gethers, participated in 
Fortune’s Most Powerful Women summit discussing 
allyship, mentorship and leveling the playing field for 
women, especially Women of Color, in the workplace. 
•  Visa recognized International Women’s Day and 
Women’s History Month to celebrate women’s 
achievements, raise awareness against bias and take 
action for gender equality. The Visa Foundation and Kiva 
partnered around the theme #ChooseToChallenge: 
Driving Women’s Economic Advancement Throughout 
the World. 
Our Company 
We are also using our influence as a company to catalyze 
change externally. For example, we are working to diversify our 
supply chain by updating sourcing language and considering 
diversity when making selections. For more information on our 
supplier diversity efforts, see page 48 of this report. 
At Visa, we are focused on creating fair and equitable 
products that can serve as many people as possible. We 
believe inclusive product design produces better and more 
thoughtful products, as well as being a crucial element of 
our strategy to uplift everyone, everywhere by being the 
best way to pay and be paid. 
In using an inclusion-first approach, we are able to develop 
products that reflect the full range of diversity in identity 
and experiences of our clients, partners and consumers. 
Inclusive Technology Terminology (ITT) 
As part of Visa's continuing efforts to build a culture of 
intentional inclusion, we are working to remove non­
inclusive technology terminology and code in Visa owned 
applications, systems and artifacts. As the project evolves, 
we are using scanning tools, expertise and ITT Guiding 
Principles to identify non-inclusive language and further 
inspire change within Visa. 
In order to support interoperability with the technology and 
payments ecosystem, Visa will work with the industry to 
influence and help change non-inclusive industry standard 
terms and apply changes in conjunction with the industry. 
Promoting Accessibility 
Accessibility involves designing, developing and testing 
an interface to make it accessible for people with 
disabilities, including those that affect a user’s visual, 
physical, cognitive or hearing ability. Careful design and 
implementation help ensure a good user experience for all. 
Web Content Accessibility Guidelines (WCAG) 2.1 AA is a 
global standard for accessibility that helps reduce barriers 
to people with disabilities. At Visa, we have created Global 
Accessibility Requirements (VGAR) to support Visa staff to 
more easily and consistently create accessible products. 
VGAR is a 5-step methodology that supports compliance with 
international accessibility standards and laws. For more on 
VGAR, please visit the Visa Developer Center. 
Marketing Responsibly 
We also are using the strength and influence of the Visa 
brand to foster inclusive communities. We will continue 
to reflect historically underrepresented groups in our 
marketing campaigns, sponsorships and events, including 
partnerships with a diverse set of Team Visa athletes who are 
representative of the communities where we live and work. 
In 2021, we launched a Creative Review Advisory 
Council that reviews and advises on Visa marketing and 
communications campaigns. The council aims to ensure 
that representation from historically underrepresented 
communities is embedded in each campaign, supporting 
Visa’s belief that economies that include everyone, 
everywhere, uplift everyone, everywhere. The Advisory 
Council consists of Visa employees who are members 
of a Visa ERG and represent varying career levels in 
non-marketing and non-communications roles. We 
encourage participation from individuals with varying racial, 
cultural and gender identities. We believe these diverse 
perspectives help ensure cultural resonance and relevance 
to historically underrepresented audiences. 
2021 Environmental, Social & Governance Report  | 27

Inclusion & Diversity 
Recognition 
•  #14 Companies With Best Diversity and Inclusion 
numbers (Fortune, 2021) 
•  Inclusion Index (Diversity Best Practices) 
•  Gender-Equality Index (Bloomberg, 2022) 
•  Best Places to Work for LGBTQ+ Equality — 100% 
Corporate Equality Index 
(Human Rights Campaign, 2022) 
•  Black Equity Index Inaugural Member 
(Coqual, 2022) 
•  100% on the Disability Equality Index & Best Place 
to Work for People with Disabilities (Disability 
Equality Index, 2021) 
•  Corporate Inclusion Index, 5-Star Rating for 
Employment and Governance (Hispanic 
Association on Corporate Responsibility, 2021) 
•  Best Employers for Women (Forbes, 2021) 
Employee Learning 
& Development 
Visa has a longstanding commitment to invest in our 
employees. Robust development and educational 
programs in areas of payments, technology, inclusion and 
diversity, professional development and leadership are key 
components of this commitment. 
In FY21, with many of our employees continuing to work 
remotely, we adapted our strategy for delivering learning 
to ensure we still met the development needs of our 
employees. Visa expanded our all-virtual learning offerings 
in 2021 by transitioning to virtual instructor-led training, 
scaling our approach, upskilling designers and trainers and 
optimizing processes on the Visa Learning Hub. In 2021, we 
saw over 21,000 active users on the Visa Learning Hub, a 42 
percent increase from 2020. 
We provided additional employee development 
opportunities and resources by expanding the Visa 
Learning Hub. Key accomplishments include: 
•  Establishing a mentoring program in North America to 
support focused development for a range of levels and 
functions. Over 1,000 employees participated. 
•  Creating the Visa Inside Track Challenge, a new gamified 
e-learning program that offers education to client-facing 
teams and all of Visa on the growing catalog of available 
products and services. 
•  Launching the Payments Everywhere Certification 
Program, a flagship program for Visa and the payments 
industry, designed to advance payments expertise and 
set a key benchmark of skills proficiency for everyone at 
Visa, at any career or experience level. 
•  Debuting the Technology New College Graduate 
programs, an eight-day specialized onboarding program 
that supports new college graduates joining Visa in the 
Technology function. 
•  Expanding Visa’s Insights, Discovery, Deal, Energize 
and Advance Sales program, a bespoke sales training 
program designed to elevate the key skills, behaviors and 
resources necessary to identify client needs, propose 
solutions, and sell and implement those solutions. 
•  Beginning Ignite: Leading Visa Forward, a development 
program designed to enhance Visa Vice Presidents’ 
organizational agility and resilience skills in partnership 
with INSEAD business school. 
Additionally, we hosted Visa’s third annual global Learning  
Festival virtually. A series of over 80 learning sessions was  
created to inspire employee curiosity around the theme  
“Energize.” During the three-day festival, leaders provided  
keynote speeches and shared ideas for cultivating 
growth centered around the three pillars of Visa’s 
ongoing success: Clients, Technology and People. More 
than a quarter of Visa employees registered for a virtual 
event. Across the 80+ sessions, there were over 28,000 
registrations, totaling more than 80,000 hours of training. 
2021 Environmental, Social & Governance Report  | 28

As a part of the 2021 Visa Learning Festival, Visa 
employees had the opportunity to participate in one of 
the most sought-after client-facing programs, Payments  
Management Lab (PML). PML is a fully reimagined,  
virtual version of our popular Bankcard Management 
School,which has helped thousands of global participants 
advance their payments careers. 
Visa has been recognized for programmatic excellence 
by several global organizations. In 2021, Visa was named 
#15 in the top 100 global learning organizations by Training 
magazine. Visa also was recognized as a top-ten global 
learning organization (ranked #9 out of 70 submissions) 
for work in diversity and inclusion training, virtual training 
innovations and involvement of Visa senior executives in 
talent development initiatives. 
Additionally, Visa was recognized with bronze awards in 
two categories: “Best Results of a Learning Program” and 
“Best Program for Sales and Training Performance” for the 
design, development, distribution and results of Visa Inside 
Track Challenge from Brandon Hall Group Excellence 
Awards, Human Capital Management. 
In 2021, 86% of Visa employees participated in Visa 
University virtual, instructor-led or self-paced digital 
learning programs, consuming over 230,000 hours 
of learning, a 30% increase in participation from 2020. 
In addition, approximately 56% of Visa employees 
leveraged one or more of over 100,000 digital assets 
through enterprise subscriptions, which are available 
to all employees through the integrated learning 
experience platform, the Learning Hub totaling 130,000 
hours of digital, self-paced learning. 
In 2022, we aim to increase participation and learning  
consumption by 10% across all modalities.  
Visa named #15 in top 100 
global learning organizations 
by Training magazine. 
Developing the Future Workforce 
At Visa, we prioritize cultivating an educated, skilled and 
diverse workforce. In support of our priority and as part of 
our 2018 Pledge to American Workers, we continue working 
to enhance career opportunities for 14,500 individuals, 
both within and outside of Visa's workforce, including 
through apprenticeships and work-based learning 
programs. In the summer of 2021, we hosted over 300 full-
time interns with the goal of offering high performers Visa 
employment upon college graduation. 
2021 Environmental, Social & Governance Report  | 29

Employee Engagement  
In 2021, we reorganized and rebranded our Human 
Resources organization as the “People Team” to better 
reflect Visa’s strategic people programs and processes. We 
also created a dedicated Global Employee Engagement 
function to deepen focus on the employee experience. 
As part of our ongoing commitment to increase employee 
engagement, we focused on planning and executing 
Return to Office and Reimagining Work, while fostering a 
culture that values employee growth and wellbeing. Our 
actions include continuing a bi-weekly video series from 
our Chairman and CEO, as well as regular all-staff meetings 
held by our regional and functional leaders to allow 
employees to ask direct questions about Visa’s business 
activities and response to global events. 
In 2021, we continued to support the evolving needs of 
employees amid the ongoing environmental, political and 
public health challenges we faced. Visa’s continued focus 
on employee experience aligns to four areas: 
•  Employee engagement surveys 
•  Creating a new, inspiring employee value proposition 
linked to our leadership principles and purpose 
•  Developing a global and comprehensive recognition 
framework that uplifts everyone, everywhere 
•  Revamping Visa’s year-one new hire experience for 
enhanced engagement 
Our @LifeatVisa Instagram channel continues to be an 
active destination for employees, potential employees 
and the general public to get a glimpse into Visa’s people, 
community and culture. 
The internal launch of Visa’s brand evolution — Meet 
Visa — drove record employee engagement with Visa’s 
new purpose and brand. We focused storytelling across 
channels to reflect Visa's purpose through perspectives 
of our employees as they share how their work uplifts 
everyone, everywhere. 
We continue to inform and engage our employees through 
content on Visa’s intranet, digital signage and employee 
attendance at events, quarterly all-staff meetings, virtual 
events, speaker series and other approaches. 
Pulse Surveys 
In 2020, we replaced our Annual Employee Survey with 
pulse surveys—short-form questionnaires distributed 
more than once per year to assess employee engagement, 
satisfaction and wellbeing. Given the challenges of 
COVID-19 and the sudden transition to remote work 
arrangements, we tailored these surveys to understand 
and respond to employee needs in an evolving and 
complex environment. 
According to the results of a 2021 employee pulse survey, 
employees increasingly feel their different views and 
opinions are valued and felt free to voice a contrary opinion 
without fear of any negative consequences. In 2021, we 
launched a wellbeing-focused pulse survey to inform the 
design of new and existing global wellbeing offerings 
for employees. 
In 2021, 100% of eligible 
employees received a 
performance review. 
Performance Reviews 
In 2021, we implemented a simplified performance 
review focused on employee impact and development 
opportunities. This strengthened performance conversations 
to drive growth and improvement. In 2021, 100 percent of 
eligible employees received a performance review. 
Employee Recognition 
We continued several new employee recognition programs 
in 2021, including one that enables our employees and 
people managers to celebrate their colleagues through 
our GoBeyond peer-to-peer recognition platform. In 2021, 
employees sent more than 6,000 virtual cards to their 
colleagues. A pulse survey from the summer of 2021 noted 
that 76% of employees feel that Visa is recognizing the 
people who are doing good work. 
In 2022 we plan to create a global blueprint for how we 
want to standardize and promote a culture of recognition 
that includes comprehensive practices for event and 
performance-based amplification across the moments 
that matter in the employee lifecycle. 
2021 Environmental, Social & Governance Report  | 30

Employee Wellbeing  
Visa has heightened our focus on supporting the mental 
health of our employees. We launched the Be Well 
Wellbeing Hub, delivering frequent communication from 
leaders and hosting mental health awareness events. 
The Be Well Wellbeing Hub hosts tools, workshops and 
wellbeing benefits programs organized by region. In 
addition, at no cost to employees, a dedicated wellness 
coach is reachable by video, phone or chat. 
We enhanced our Wellbeing program in 2021 with the 
following initiatives: 
•  Launched the Be Well Ambassador program where 
employees are empowered and equipped to support 
their colleagues by leading workshops, providing 
announcements and sharing wellbeing resources. 
•  Hosted safe spaces sessions for employees facing 
societal challenges, including Asian American and 
Pacific Islander, Latinx and Black and African American 
employees, to decompress and find respite with the 
support of a facilitator or licensed mental health provider. 
•  Provided people leader coaching sessions for senior 
leaders to offer their advice to people leaders and 
facilitate conversations with experts on topics including 
digital wellbeing, mental health and work and beyond. 
•  Offered culturally relevant regional customization for 
programs outside of North America. 
•  Tailored Visa talent planning through a cross-functional 
partnership between the Director of Wellbeing and 
Visa talent teams to build psychological safety and 
empathetic leadership into our midyear and annual 
review processes. 
•  Scaled our Mental Health and Wellbeing for Peak 
Performance course in Visa University to be offered in 
our Central and Eastern Europe, Middle East and Africa 
and Asia Pacific regions. 
We are using local and national guidance and emergency 
and regulatory requirements to implement global 
best practices as employees return to offices in 2022. 
We designed a new Flexible Work approach to be 
implemented as we welcome our employees back to 
Visa offices. We work closely with governments and 
health providers to make vaccines readily available to 
our employees, along with education sessions on the 
vaccination process. 
We also have enhanced employee COVID-testing offerings, 
office cleaning protocols and signage and educational 
materials posted around offices and online platforms. 
2021 Environmental, Social & Governance Report  | 31

Employee Benefits 
Our employees are our most important asset, and we 
continue to enhance and evolve our Total Rewards 
compensation programs to attract and retain a talented 
and engaged workforce. In addition to competitive base 
salary and bonus plans, financial benefits include a stock 
purchase plan, available to 97 percent of our employees 
worldwide, and a 401(k) plan with matching contributions 
for U.S.-based employees. 
We continue to offer programs with a renewed focus on 
flexibility and mental health. Our benefits vary by location 
and may include: 
•  20 service days for backup child and elder care 
•  Dedicated wellbeing time at the end of each work 
week for employees to devote to their personal or 
professional needs 
•  Paid full day off work to vote in national elections, 
expanded from half day in 2020 
•  A Mental Health and Wellbeing Community, to enable 
employees to connect and support each other and 
to help to remove the stigma associated with mental 
health needs 
•  Free therapy sessions through the Employee 
Assistance Program 
•  Access to virtual health and wellness coaching and a 
mobile app-based mindfulness training program 
•  On-demand webinars, workshops and resources 
focusing on mindfulness 
•  Work From Another Location, allowing employees to 
work from another location for up to 4 weeks out of the 
year, with manager approval 
Additionally, at Visa we support our employees in the  
U.S. by supporting their family life. Visa Benefits package  
now includes services from WINFertility, a family  
planning service that provides family planning support  
and medical services regardless of medical necessity or  
relationship status.  
For comprehensive information about employee benefits, 
please visit Visa’s Benefits website. 
2021 Environmental, Social & Governance Report  | 32

Employee Safety  
Visa has a long-standing commitment to protecting the 
physical safety, mental health and wellbeing of our global 
workforce. Responsibility and oversight of employee safety 
resides with the Visa Global Security and Safety (GSS) 
team, which promotes the safety of Visa’s employees 
and contingent workers by establishing health and safety 
practices. In 2021, we expanded the employee headcount 
in health and safety, emergency preparedness and security 
operations teams. 
The GSS team maintains a global Safety, Health and 
Environmental policy and provides relevant training to the 
executive team and key employees. Visa assesses and 
manages safety risks, provides security measures and 
oversees emergency response by monitoring: 
•  Emerging security threats, such as natural disasters, civil 
unrest and terrorist attacks identified through security, 
government and media sources 
•  Personnel on business travel and employees who are 
working outside their home countries 
•  Company assets, including facilities and strategic 
third-party sites 
Visa’s support for our employees’ safety includes providing 
employees with the information and resources necessary 
for them to work effectively and safely. To promote healthy 
remote work environments, Visa increased flexibility in 
schedules, encouraged individuals to collaborate with 
managers to balance professional and personal obligations 
and launched “Wellbeing Hours” to encourage schedule 
flexibility at the end of the work week. 
Visa also maintains an Ergonomics Program that provides 
educational information and assistance to help employees 
create an environment in which they can work comfortably 
and productively from anywhere. 
The Program includes an online office ergonomics 
training to guide employees on how to identify potential 
opportunities to improve working habits and adjust 
workspaces. Upon completion of the training, employees 
receive a personal plan on how to address identified 
ergonomic issues. 
To track our health and safety performance, Visa conducts 
both monthly and annual audits of our health and safety 
equipment and facilities. Each month we track and audit 
our near misses, injuries and worker compensation claims. 
2021 Environmental, Social & Governance Report  | 33

Protecting the Planet 
    34
34

Visa recognizes the importance of protecting our 
planet and natural resources and of supporting 
climate action. 
We continue to use our products, services, network, 
expertise, brand and partnerships to minimize the 
environmental footprint of our operations, inspire 
and empower sustainable commerce and support 
the global transition to a low-carbon economy. 
Our priorities include: 
• Sustainable Operations 
• Sustainable Commerce 
Our Goals 
Visa continues to aim to be among global corporate leaders in our efforts in this decisive decade of action. 
We focus our efforts on delivering on our corporate climate-focused goals and aspirations: 
Carbon neutral operations 
Maintain carbon neutrality of our operations (greenhouse gas emissions scopes 1 and 2  
as well as the business travel and employee commuting components of scope 3).  
Net Zero emissions by 2040 
Eliminate the footprint from our scopes 1, 2 and 3 emissions. 
Climate positive company 
Support positive climate action beyond our operational footprint by leveraging our products,  
services, network and other resources.  
Visa’s net zero by 2040 goal is aligned with global standards and definitions and will include efforts with suppliers to abate  
a significant portion of the greenhouse gas footprint of the Company’s purchased goods and services. Visa also has set  
science-based targets through the Science Based Target initiative (SBTi) at the 1.5 degree Celsius ambition level—targets that  
were approved by SBTi in May 2022.  
2021 Environmental, Social & Governance Report  | 35

Sustainable Operations 
Our initiatives to deliver on our corporate goals for 
environmental stewardship and climate action begin with 
our efforts within Visa. We take a proactive approach to 
reducing the environmental footprint from our business 
activities, which primarily include data centers and offices, 
employee commuting, business travel, corporate events 
and purchased goods and services. 
Greening Our Offices 
& Data Centers 
Visa is committed to reducing the environmental impact  
of our offices and data centers by focusing on green  
building design and operation and managing energy  
and water use. Our approach includes obtaining the  
U.S. Green Building Council’s Leadership in Energy and  
Environmental Design (LEED), BREEAM, Green Mark or  
equivalent certifications for the design, construction and  
build-out of our office facilities. We use green building  
standards and guidelines to increase resource use  
efficiency within our existing buildings. 
As of September 30, 2021, Visa owned or leased 123 office 
locations in 77 countries around the world, including three 
data centers. At the end of 2021, approximately 75 percent 
of Visa’s owned or leased square footage achieved or was 
pending green building certification. 
Visa’s data centers account for more than half of our total  
electricity consumption and are an important focus of  
our sustainability efforts. In 2021, we achieved year-over­
year improvements in our data center energy efficiency,  
measured by power usage effectiveness (PUE), as a   
result of programs such as upgrading our cooling and server  
equipment. We have also piloted and evaluated innovations  
like direct expansion, dry mode cooling and immersion  
cooling to improve our energy and/or water efficiency. 
Globally, the PUE in our data centers has improved by 17  
percent over the past four years. 
Visa Power Usage Eﬀectiveness  
2017 
2018 
2019 
2020 
2021 
2.5 
2 
1.5 
1 
.5 
0 
1.84 
1.67 
1.63 
1.56 
1.52 
U.K. 
U.S. – East 
U.S. – Central 
Global 
Weighted 
Average 
The average PUE value represents a weighted average, based on the reported PUE metrics and  total energy consumption at each of our data center locations. 
2021 Environmental, Social & Governance Report  | 36

Renewable Electricity 
Visa continues to meet our goal (first announced in 2018) of 
purchasing 100 percent renewable electricity for our offices 
and data centers through participation in utility renewable 
energy programs and through the purchase of renewable 
energy certificates. 
In 2021, we signed a multi-year agreement with MP2 
Energy to power Visa’s largest data center – accounting 
for 45 percent of our electricity usage – with 100 
percent renewable electricity from new solar generation 
facilities. The agreement signals the next phase for Visa 
advancing its sustainability priorities, including supporting 
additional renewable electricity capacity to the grid, while 
positively impacting the environment and local economic 
development through job creation. 
Visa addresses the remainder of our renewable energy 
requirements through utility partnerships and the 
purchase of certified renewable energy certificates (RECs) 
across over 30 different markets. 
While we have achieved our goal of purchasing 100 
percent renewable electricity, our multi-year approach 
remains focused on identifying opportunities to expand 
investments and/or enrollments in renewable electricity 
offerings, including through long-term renewable 
electricity purchase agreements, and reduce our purchase 
of unbundled RECs. 
Visa also continues to champion the overall corporate 
renewable energy movement, including through our 
membership in the RE100 and support of the Clean Energy 
Buyers Association. 
Travel & Events 
Though corporate travel and employee commuting 
remained largely paused throughout 2021, we continued 
to identify, enable and encourage more sustainable travel 
and commuting behavior among our employees, including 
mode switching and staying at green certified hotels. 
As part of our efforts to reduce emissions from our air 
travel, in September 2021, Visa joined the World Economic 
Forum’s (WEF) Clean Skies for Tomorrow Coalition as 
a signatory to advance the commercial scale of viable 
production of Sustainable Aviation Fuel (SAF) for broad 
adoption in the industry. Through the Coalition, we 
are joining with our peer members to contribute to 
accelerating the supply and use of SAF to reach 
10 percent of global jet aviation fuel supply by 2030. 
Additionally, in December 2021, Visa joined the United 
Airlines Eco-Skies Alliance and committed to reducing the 
carbon emissions from our business travel on the carrier by 
helping to fund the green premium for SAF. 
Visa helps eligible employees reduce the emissions from 
their commutes, including through providing subsidies for 
public transit and bicycle commuting and access to electric 
vehicle chargers in select locations. 
Green Bond 
In 2020, Visa issued our inaugural $500 million green 
bond — believed to be the first green bond issued by a 
digital payments network — to finance initiatives that 
enable sustainable commerce and the transition to 
low-carbon operations and economy. 
We intend for our projects to align with the eligibility 
categories of the International Capital Market 
Association’s Green Bond Principles, a voluntary 
framework that provides guidance and best 
practices for issuing Green Bonds. Specifically, we 
are using the green bond, due in 2027, to finance 
green building projects, energy and water efficiency 
improvements, expanded use of renewable energy, 
clean transportation, employee commuter programs, 
environmentally-friendly technologies and initiatives 
focused on sustainable consumer behaviors. 
In 2021, we published our first Green Bond Report 
detailing the use of proceeds thus far. Our initial use of 
the green bond proceeds helped us achieve carbon 
neutrality and transition to 100 percent renewable 
electricity across our global operations. 
2021 Environmental, Social & Governance Report  | 37

Employees 
Visa strives to inspire our employees around the world 
to be sustainability champions and advocates in the 
workplace, at home and in our communities. We do so 
throughout the year by offering webinars, emails, videos 
and chat sessions to share tips and suggestions for 
integrating sustainability into employees’ daily routines. 
Each April, we host our global Visa Earth Month series of 
events, including the Earth Month Speaker Series focused 
on topics such as the state of the planet, the emergence of 
the sustainable consumer and the role that fintech can play 
in sustainability and our Earth Month Eco-Challenge, which 
asks employees to make simple commitments to help 
reduce their footprint and to support Visa’s commitments 
to sustainability. 
In 2021, we created a new sustainability learning path within 
Visa University, our training and development platform. 
The new learning path is designed to give employees a 
foundation in topics and solutions related to sustainability 
and climate change. 
Suppliers 
Visa recognizes the importance of addressing the emissions 
from our purchased goods and services, which make up 
94 percent of Visa’s scope 3 emissions. To that end, Visa 
engages with our suppliers to help them measure and report 
their emissions and to set Science Based Targets. 
Our efforts to engage suppliers include incorporating 
environmental sustainability expectations in the Visa 
Supplier Code of Conduct, which suppliers receive during 
the onboarding process, and Visa’s participation in the 
Carbon Disclosure Project (CDP) Supply Chain program. 
Through the CDP Supply Chain program, we engage 
our leading suppliers around measuring their emissions 
footprint, setting targets, reporting to the CDP and 
attributing their footprint back to Visa. 
Since joining the CDP Supply Chain program, Visa 
has expanded outreach to suppliers who represent 
approximately two-thirds of Visa’s emissions as 
calculated by spend. 
Our Results 
To measure and manage our environmental impact, 
Visa has conducted a global environmental footprint 
assessment with support from leading third-party firms 
each year since 2008. We measure our global energy 
and water use, waste production, landfill diversion and 
GHG emissions. Our energy and GHG emissions are 
verified by an independent third party. The 2021 GHG 
Verification Statement is publicly available on our website 
and included in the Appendix of this report. 
2021 Environmental, Social & Governance Report  | 38

Energy & Greenhouse Gas Emissions 
Around the world, momentum continues to accelerate behind the need to take urgent action on climate  
change and transition to a low-carbon economy. Visa is responding by taking serious action to reduce  
GHG emissions, including achieving carbon neutrality across our operations for the first time in 2020.  
This achievement, which includes the footprint from our scope 1, scope 2 and the employee 
commuting/business travel components of scope 3 greenhouse gas emissions, is the result of ongoing 
energy efficiency initiatives, our transition to 100 percent renewable electricity and limited use of carbon 
offsets to cover our residual footprint. Our carbon offsets portfolio spans regions in which we operate 
and includes projects such as forest management in the U.S., reforestation in Uruguay, renewable 
energy generation in Turkey, China and India and clean cookstove initiatives in Kenya and Uganda. 
We use international standards, including the GHG Protocol, to measure and report GHG emissions 
associated primarily with our energy usage, business travel and employee commuting. 
In 2021, we used approximately 646,000 gigajoules (GJ) of energy from electricity, natural gas and other 
fuels – an eight percent decrease in consumption compared to 2020. 
Our energy intensity per square foot, a commonly used metric that adjusts for growth, improved by 10 
percent year-over-year, the seventh consecutive year of improvement. 
Our scope 1 and 2 GHG emissions, measured in absolute terms with a market-based approach, were 
4,000 metric tons of carbon dioxide equivalent (MTCO2e) in 2021. This represents a 71 percent decrease 
year-over-year from 2020—largely driven by the achievement of our goal to transition to 100 percent 
renewable electricity. 
In 2021, Visa responded to the CDP Climate Change questionnaire for the 11th consecutive year and 
was named to the CDP A-List for the first time. Visa’s CDP response is available on the websites of 
Visa and CDP. 
2021 Environmental, Social & Governance Report  | 39 
Operational Emissions (MTCO₂e)
Operational Emissions Relative to 2009 (MTCO₂e)
Scope 3 Emissions (MTCO₂e)
  
 
 
 
Scope 1 
94,469
100,000 
84,231 
Scope 2 
78,750 79,497 
80,551 
76,465 
80,000 
69,095 
64,286 
63,414 
Carbon Oﬀsets
60,128 
59,803 
60,000 
40,000 
20,000 
13,914 
4,018 
0 
-20,000 
-19,154 
-40,000 
-46,100 
-60,000 
2009 
2010 
2011 
2012 
2013 
2014 
2015 
2016 
2017 
2018 
2019 
2020 
2021 
0% 
-10% 
-20% 
-30% 
-40% 
-50% 
-60% 
-70% 
-80% 
-90% 
-100% 
2009 
2010 
2011 
2012 
2013 
2014 
2015 
2016 
2017 
2018 
2019 
2020 
2021 
Absolute 
Emissions 
MTCO2e per 
square foot 
MTCO2e per 
employee 
MTCO2e per 
Million dollar 
revenue 
600,000 
527,741 
Employee commuting 
500,000 
462,604 
Business Travel 
400,000 
Waste generated in operations 
300,000 
Fuel-and-energy-related activities 
(not included in Scopre 1 or 2) 
200,000 
Purchased Goods and Services 
100,000 
Downstream leased assets 
0 
405,915 
320,987 
2018 
2019 
2020 
2021 
Operational Emissions (MTCO₂e)
Operational Emissions Relative to 2009 (MTCO₂e)
Scope 3 Emissions (MTCO₂e)

2021 Environmental, Social & Governance Report   |   40
Water
We recognize the importance of protecting water as a shared resource, particularly in water-
constrained areas. Although as a payments technology company Visa’s business is not 
water intensive, we do implement data-driven strategies to reduce the total water use at our 
offices and data centers.
In 2021, we used an estimated 38,950,000 gallons of potable water in our global portfolio. 
We largely attribute our 32 percent potable water usage decrease year-over-year to 
temporary office closures. By facility type, 77 percent of potable water use occurred in our 
offices, while 23 percent occurred in our data centers, in which we use a significant amount 
of reclaimed water. 
In 2021, 46% of Visa’s total water usage came 
from reclaimed water.
 
Waste
While not a major producer of solid waste, Visa continues to reduce the amount of office 
waste we dispose of in landfills each year. Visa works to reduce waste streams at our 
office facilities and data centers through thoughtful design of our spaces and kitchenettes, 
engaging with our food service providers, reducing single-use items and plastics and by 
engaging employees through education and awareness building. 
In 2021, we achieved a landfill diversion rate of 43 percent, or 22.9 kg per employee. 
Diversion rate per employee is calculated based on the total amount of Visa’s operational 
waste that is recycled, reused or composted in the reporting year divided by the total 
number of employees. This does not include waste that is landfilled or incinerated.
 
Total Water Usage (Million Gallons)
 
Change in Potable Water Use Relative to 2015
Waste by Destination
598 Metric Tons
52%
Landﬁlled
20%
Recycled/
reused
23%
Composted
5%
Incinerated

Sustainable Commerce  
Visa continues to expand our initiatives toward being a 
climate positive company by embedding sustainability 
across our business. Our existing efforts to support a low-
carbon future across our network include: 
•  Research & Insights: Supporting and/or conducting 
research to understand barriers to and drivers of 
sustainable living behaviors 
•  Cards & Accounts: Embedding sustainability features in 
payment cards and accounts 
•  Sustainable Behaviors: Global initiatives supporting 
sustainable behaviors, such as in mobility and travel 
•  Global Movement: Using our platforms, partnerships 
and sponsorships to inspire and empower sustainable 
living among millions of consumers 
Research & Insights 
Visa’s approach to enabling sustainable commerce 
begins with our efforts to help the broader payments and 
commerce ecosystem understand the barriers to and 
drivers of sustainable living behaviors—particularly among 
consumers—and the opportunities for digital payments to 
support a low-carbon economy. 
•  Empower citizens: Through product and service 
innovation, as well as the provision of information and 
choice architecture 
•  Provision of data-driven insights: Payments data-
driven products and services 
•  Collaboration and partnerships: Shaping and creating 
new services and solutions with others 
•  Narrative and advocacy: Using corporate influence to 
shape the broader landscape for the net zero transition 
Highlights of our efforts in 2021 include the following: 
For the third year, Visa participated as a design partner 
in GlobeScan’s Healthy and Sustainable Living Study, 
which focused on attitudes, opinions and behaviors 
linked to healthier and more sustainable lifestyles and 
reached 30,000+ consumers spanning 31 markets. 
Visa partnered with third-party research firms to conduct 
bespoke research on consumer attitudes toward 
sustainability features in payments accounts, starting in 
four markets. We continue to disseminate the results of 
this work to our clients and partners. 
Visa collaborated with the Cambridge Institute for 
Sustainability Leadership (CISL) to identify new 
opportunities for electronic payments and networks to 
support a sustainable future. As a result of this work, CISL 
identified four roles that payment networks can play to 
bridge the “opportunity gap” by enabling net zero solutions. 
Read the CISL report, Payments for Net Zero: How the 
payments industry can contribute to the transition to a net 
zero economy, to learn more. 
Cards & Accounts 
As a global payments network, we believe we can play 
an important role in helping consumers and businesses 
shift to more sustainable behaviors through our efforts 
to embed sustainability into physical payment cards and 
help enable sustainable features in payment accounts. 
Highlights of our 2021 progress include: 
•  Expanded partnership with ecolytiq offering bank and 
financial institutions an all-in-one Sustainable-as-a-
Service® solution to empower their customers to take 
climate action. 
•  Announced the launch of Visa Eco Benefits to allow 
account issuers to add sustainability-focused benefits 
to existing Visa cardholder credit/debit products toward 
the goal of enabling their cardholders to engage in 
sustainable consumption. 
•  Continued to support the introduction and uptake by 
our clients of sustainable materials for physical payment 
cards, including the CPI Card Group’s payment card 
composed of up to 98 percent upcycled plastic. 
2021 Environmental, Social & Governance Report  | 41

Sustainable Behaviors 
In addition to our efforts to support sustainable commerce  
through incorporating sustainability features in payment  
cards and accounts, Visa also continues to work in areas  
where we believe our products, services, network,  
expertise and/or brand platform can play a role.  
Highlights from 2021 include:  
Urban Mobility 
Visa is working to bring digital payments to citizens’ 
door-to-door journeys, to reduce emissions and address 
climate change. In 2021, Visa continued to work with transit 
agencies in more than 400 cities worldwide to support 
sustainable mobility through contactless ticketing and fare 
payment solutions. 
In 2021, Visa continued our partnership with the Global 
Resilient Cities Network (GRCN) to help cities become more 
resilient to the physical, environmental, social and economic 
challenges of the 21st century. 
Electric Vehicle Charging (EVC) 
Visa is supporting the global transition to electric vehicles, 
by partnering with leading participants in the EVC 
ecosystem through enhancing the customer payment 
experience at charging stations. In 2021, Visa continued 
to expand usage of a dedicated merchant category code 
for EVC, jointly published a white paper on open loop 
payments for EVC, conducted a study on EVC challenges 
and opportunities and served as lead supporter of the 
EV Summit. As we entered 2022, Visa also announced 
our joining as the first payments community member of 
CharIN, an international charging initiative working with all 
parts of the e-mobility value chain. 
Travel & Tourism 
Visa continued our efforts to help advance sustainable 
travel and tourism through our founding partner role 
with Travalyst, a sustainable travel and tourism initiative 
founded by the Duke of Sussex together with Skyscanner, 
Booking.com, Trip.com Group and TripAdvisor. 
Visa also launched the Visa for Athens sustainable tourism 
initiative, contributed to the Net Zero Roadmap of the 
World Travel & Tourism Council and served as a member 
of the World Economic Forum’s Global Agenda Council for 
Sustainable Tourism. 
Global Movement 
Visa remains committed to helping build and support the 
overall sustainable living movement. Highlights of our 
progress in 2021 include: 
Industry Initiatives 
In 2021, Visa joined the World Business Council for 
Sustainable Development, a global, CEO-led organization 
of over 200 leading businesses working together to 
accelerate the transition to a sustainable world. Visa also 
continued to serve as a Founding Partner of and contributor 
to Brands for Good, an initiative of Sustainable Brands 
focused on building a movement among leading brands 
to make sustainable living more attractive, rewarding and 
attainable. Visa’s Chief Sustainability Officer became a 
founding member of the Adweek Sustainability Council, a 
group comprised of CMOs and heads of sustainability from 
the world’s top brands working to address responsible 
environmental practices, social purpose and equality, as 
well as the NYSE Sustainability Advisory Council. 
Public Policy 
At Visa, we believe in the importance of supporting public 
policy dialogue as part of our approach to sustainable 
commerce, decarbonization and net zero. In 2021, we 
continued our participation in the Energy and Environment 
Coordinating Committee of the Business Roundtable 
(BRT), the Sustainable Finance Working Group of the 
Institute for International Finance (IIF) and various 
sustainability-focused working groups of the Information 
Technology Industry Council (ITI). 
2021 Environmental, Social & Governance Report  | 42

Alignment with Task 
Force on Climate-
Related Financial 
Disclosures (TCFD) 
Governance 
Throughout 2021, Visa focused on increasing Board 
engagement and education on climate-related issues 
through quarterly ESG updates to the Nominating and 
Corporate Governance Committee, which meets at least 
quarterly and has formal responsibility for and oversight 
of corporate responsibility and sustainability policies, 
programs and reporting, including those related to  
climate change. 
These updates cover internal climate-related goals, 
initiatives and external developments, including on 
climate-related goals, initiatives and risk. Our Chief 
Sustainability Officer communicates directly with the 
Board and continues to help formalize oversight and 
governance of climate-related topics within Visa. 
Strategy 
Visa’s global sustainability strategy centers on our goals 
of achieving net-zero emissions by 2040 and maintaining 
carbon neutral operations, while limiting use of offsets. 
We harness our global brand and initiatives to drive 
decarbonization efforts and promote sustainable practices 
beyond our direct operations. An example of these 
actions was the launch of Visa Eco Benefits, a new package 
of sustainability-focused benefits for account issuers 
designed to enable and encourage cardholders to engage 
in sustainable consumption behaviors. This new account 
benefits bundle expands Visa’s sustainability solutions for 
clients as part of our climate positive goal. 
We continue to monitor and assess climate-related risks 
and opportunities and embed these considerations 
into our business strategy decisions. See our inaugural 
Green Bond report for information on the financing of our 
climate-related objectives. 
Risk Management 
Visa maintains an Enterprise Risk Management (ERM) 
Framework to identify, assess, treat, monitor and report 
on substantive risks. Prior to FY21, we conducted a deep 
dive into our climate-related risks and opportunities in 
alignment with the Task Force on Climate-Related Financial 
Disclosures (TCFD). This exercise analyzed both direct and 
indirect climate-related risks and opportunities across our 
entire business for Business as Usual and 2-Degree climate 
scenarios. We aim to update the TCFD assessment on a 
periodic basis and leverage the findings into our existing 
ERM process to inform our business planning. 
As an outcome of this analysis, Visa has taken notable 
steps to reduce upstream risks in our supply chain. 
Beginning in 2018 we began collaborating with CDP to 
collect supplier-specific data. Additionally, through our 
supplier engagement program, we anticipate that we will 
continue to utilize the CDP Supply Chain survey to collect 
direct data from our suppliers, enhance ESG language in 
our Supplier Code of Conduct, develop supplier scorecards, 
create educational materials on climate topics for internal 
and external stakeholders and develop individualized 
engagement approaches on climate topics for our 
top suppliers. 
Metrics & Targets 
In 2021, we formally submitted near-term GHG reduction 
targets to the Science Based Targets initiative (SBTi). The 
targets — covering scopes 1, 2, and 3 emissions and in line 
with a 1.5°C pathway — were approved by SBTi in May 2022. 
In addition, Visa has set a goal to achieve net-zero 
emissions by 2040, 10 years ahead of the Paris Climate 
Agreement goal. This goal covers both direct operations 
and our supply chain. 
We have further developed our approach to 100% 
renewable electricity to focus on renewable electricity 
procurement options at our largest facilities and data 
centers, such as utility and renewable programs, and to 
rely less on unbundled renewable energy certificates. 
This demonstrates that Visa is evolving our approach to 
renewable electricity procurement to help ensure that our 
purchases support renewable electricity generation in the 
areas where we operate. 
The largest area of impact in our value chain lies with 
our suppliers. We are expanding on associated metrics, 
including improved measurement and management of 
emissions and emissions targets globally. 
As part of our goal to reach net-zero emissions by 2040, in 
2021 Visa became a new signatory of The Climate Pledge, 
an initiative co-founded by Amazon and Global Optimism, 
as well as a new member of the Climate Business Network, 
a World Wildlife Fund (WWF) initiative to accelerate action 
toward a net-zero future. 
Environmental, Social & Governance Report  | 43

Operating Responsibly 
44
44

2021 Environmental, Social & Governance Report   |   45
Corporate Governance
Visa’s corporate governance practices help promote 
long-term value and strong Board and management 
accountability to our diverse set of stakeholders. Our 
Board of Directors oversees and monitors important 
governance issues, including risk management, board 
composition and refreshment, executive and Board 
compensation and ESG matters. 
We regularly monitor our corporate governance  
policies and practices to confirm we meet or exceed the 
requirements of applicable laws and the New York Stock 
Exchange's listing standards and that we are responsive 
to investors. Visa’s corporate governance framework, 
including our Corporate Governance Guidelines, 
exemplifies our commitment to these standards.
Board Structure 
As of May 2022, Visa’s Board of Directors is an 11-member 
board with 10 independent members. Al Kelly serves as 
our Chief Executive Officer and Chair of the Board, and 
John Lundgren serves as our Lead Independent Director, 
responsible for providing independent leadership to 
the Board. Our directors exhibit an effective mix of skills, 
qualifications, perspectives and experience in payments, 
technology, finance and ESG.
Visa’s Corporate Governance Guidelines establish various 
limits on our directors serving on publicly traded company 
boards and audit committees. We limit our directors 
to serving on four publicly-traded company boards 
(including Visa), or two for executive officers of publicly-
traded companies (including Visa). The Board  may grant 
exceptions to established limits on a case-by-case basis. 
To best serve our shareholders, employees  
and customers, the Board periodically reviews and 
evaluates its internal leadership structure and Lead 
Independent Director responsibilities.
Our current Board committees include Audit and Risk, 
Compensation, Finance, and Nominating and Corporate 
Governance. All four Board committees are composed 
solely of independent directors. Each committee operates 
pursuant to a written charter, available on the Investor 
Relations page of our website.
Board Diversity
Visa strives to reflect the diversity of our global key 
constituencies, including clients, customers, employees, 
business partners and stockholders, in the makeup of 
our Board. To support this objective, the Nominating and 
Corporate Governance Committee considers women and 
candidates from underrepresented groups in the pool from 
which the Committee considers director candidates. As 
of April 2022, Visa’s overall board diversity (gender, race, 
ethnicity) is at 64%, with gender diversity specifically at 36%.
INDEPENDENCE
TENURE
DIVERSITY
91%
Independent
36%
Gender
27%
3
8
4
7
4
4
1
10
3
Race and
Ethnicity
7.2
Years 
average
< 5 years
5-9 years
9+ years
Non-Independent
Independent
Non-White
White
Women
Men
Snapshot of Directors
Data as of April 11, 2022.

Board & Executive Compensation 
Programs & Philosophy 
Visa’s approach to executive compensation includes a 
recognition that ESG practices are important elements of 
long-term corporate strategy and contribute to Visa being 
a sustainable and responsible company. Annual goals 
incorporate and promote ESG factors that are relevant 
to the Company’s strategic objectives, such as: inclusion 
and diversity; employee leadership and development; 
employee health, safety, productivity and engagement; 
cybersecurity and data privacy; sustainability and climate; 
financial inclusion and access; and corporate governance. 
For more on our approach to executive compensation, please 
refer to page 7 of the report and our 2022 Proxy Statement. 
Ethics & Compliance 
We work to maintain the trust of our stakeholders 
through our culture of honesty and integrity, in which we 
hold ourselves to the highest ethical standards, and by 
continuously strengthening our ethics and 
compliance program. 
Visa’s global compliance program provides processes 
and controls to manage legal and regulatory risk, drive 
an ethical culture and empower the business to achieve 
Visa’s objectives legally and with integrity. The Office of the 
Chief Ethics & Compliance Officer, along with the business 
leadership, is responsible for Visa’s global compliance and 
ethics program. 
Our commitment to ethics and compliance is captured in 
our Code of Business Conduct and Ethics (Code), which 
applies to everyone working with or on behalf of Visa, 
including employees, contingent staff and the Board of 
Directors. We provide a Code of Business Conduct and 
Ethics training to improve employee knowledge and 
retention of content, achieving a 100% completion rate for 
all eligible Visa employees. 
The Code includes a supplemental Code of Ethics for 
Certain Executives and Financial Officers, which requires 
senior officers to engage in honest and ethical conduct in 
performing their duties and provides guidelines for the 
ethical handling of conflicts of interest and reporting of 
unethical conduct. Additionally, Visa’s Supplier Code 
of Conduct further explains our expectations and 
values to suppliers. 
We maintain a confidential compliance hotline, operated 
by a third party, to allow anyone to share questions, 
concerns or comments online or by phone, 24 hours a day, 
seven days a week. Additionally, our “Speak Up” Campaign 
aims to empower employees to report misconduct. Our 
updated Global Ethical Manager Toolkit helps leaders 
engage in team discussions related to ethics. 
We continue to strengthen our approach to embed 
ethics and compliance into enterprise-wide management 
processes and business leader performance scorecards. 
In 2021, Visa reinforced its commitment to ethical 
operations while transitioning to a primarily virtual 
business environment. 
Visa measures and monitors ethical behavior through the 
use of Regional Scorecard metrics that have direct impact 
on performance rating decisions and associated bonus of 
first line business leaders. Every quarter, our Compliance 
leaders review status of progress against agreed upon 
goals with the regional president and country managers, 
and report at year end on achievement of those goals to 
the Visa Chairman and CEO and President. These metrics, 
together with similar metrics from Controllership, Risk, 
and Audit, directly impact the compensation of business 
leaders in the organization. 
In early 2022, Visa was named 
to the World’s Most Ethical 
Companies list by Ethisphere 
Institute for the tenth 
consecutive year. 
2021 Environmental, Social & Governance Report  | 46

Engaging with 
Governments 
Visa actively engages with governments, officials, 
policymakers and stakeholders across the world to 
help shape the future of digital payments. Through our 
partnerships, we foster innovation and find opportunities 
to drive digital transformation and further enable access to 
financial services. 
Visa is committed to transparency around our political 
involvement. We publish an annual Visa Inc. Corporate 
Political Contributions Report, which includes a listing 
of all U.S. trade associations to which Visa pays annual 
membership dues that are $25,000 or more, and, if 
applicable, the portion of dues that were used for political 
expenditures. In the United States, we disclose all 
contributions made by Visa’s Political Action Committee 
(PAC) in accordance with the requirements of the Federal 
Election Commission. In 2021, we made updates to our 
PAC Giving Criteria for proposed contributions, which was 
approved by the Board. 
Visa once again earned 
"Trendsetter" status on the 2021 
CPA-Zicklin Index of Corporate 
Political Disclosure and 
Accountability with a perfect 
score of 100. 
Visa contributes its expertise in digital payments to 
help government partners advance their development 
goals, such as supporting the government of Japan in 
increasing the percentage of payments made digitally 
to 40 percent by 2025. 
Through Visa University, we also provide training and 
outreach programs to governments and policymakers 
around the world to allow us to foster the exchange of 
ideas on legal and economic aspects of digital 
 financial services. 
Visa also engages in strategic partnerships with a wide range 
of international and multilateral organizations, universities, 
think tanks and other policy organizations to share 
perspectives and contribute to policy dialogue on the future 
of payments, small business enablement, sustainability and 
digital equity and inclusion, among other issues. 
In 2021, Visa participated in a range of collaborative 
efforts, including: 
•  Contributing to the World Economic Forum’s Data for 
Common Purpose Initiative, including the development 
and publication of novel frameworks for responsible 
data marketplaces. 
•  Supporting the World Economic Forum’s Trade and 
Investment platform to support Payments to Advance 
Growth for All, focused on the growth of digital 
payments in Latin America. 
•  Sponsoring D.C. Fintech Week, an event supporting 
dialogue on the nexus of fintech innovation and digital 
equity and inclusion. 
•  Collaborating with the Institute of International Finance on 
a Strategic Framework for Digital Economic Cooperation. 
•  Contributing to the Official Monetary and Financial 
Institutions Forum’s December 2021 marquee “Future 
of Payments” report, including a Visa Economic 
Empowerment Institute paper on digital remittances 
and a series of speaking engagements. 
2021 Environmental, Social & Governance Report  | 47

Tax Compliance & 
Governance 
Relationships are at the heart of Visa’s business. We know 
that trust must be continuously earned and are committed 
to being a transparent and reliable partner in business and 
in engagement with governments and the communities 
we serve. Visa operates globally and seeks to comply with 
applicable laws, regulations and requirements, including 
those related to tax, around the world. 
A global team of tax professionals, in close coordination 
with business units, manages tax affairs in every Visa 
region. Everyone working for, or on behalf of, Visa shares a 
responsibility to follow our Code of Business Conduct and 
Ethics and work with integrity. Visa has a zero-tolerance 
approach to tax evasion or the facilitation of tax evasion. 
Tax oversight resides with management, including relevant 
oversight committees, and ultimately the Board of Directors. 
In addition to following the letter of the law, we strive to 
adhere to the spirit of tax laws. Visa insists on adherence 
to our values, honoring our commitments, and avoiding 
activities that could adversely affect our reputation. We 
make tax planning decisions in a manner that is consistent 
with Visa’s commercial business and economic activities, 
evaluating the tax implications and risks related to 
potential transactions. 
Visa’s statement on tax compliance and governance is 
available online at visa.com/esg under Operating Responsibly. 
Responsible Sourcing 
Beyond Visa operations, our commitment to operate 
responsibly and sustainably extends to our suppliers and 
business partners. In 2021, we continued implementation 
of the Supplier Code of Conduct (Supplier Code) and 
focused on maintaining our supplier relationships 
throughout the pandemic. 
Our global Supplier Code outlines our expectations in 
areas including human rights, employment practices, 
environmental impact, supplier diversity, conflicts of 
interest and other aspects of responsible business. We 
reference the Supplier Code in our global Governing 
Agreements with suppliers and in our Global Sourcing 
Policy. We also send the Supplier Code to new suppliers 
during their onboarding process. 
When identifying new suppliers to work with Visa, we aim 
to partner with suppliers that share the same respect for 
human rights, including those principles recognized in 
international human rights standards such as the Universal 
Declaration of Human Rights. Suppliers’ approaches to 
human rights should be consistent with the UN Guiding 
Principles on Business and Human Rights. Suppliers are 
expected to comply with all applicable legal requirements 
related to human rights. 
In 2021, Visa took additional steps to engage prospective 
and existing suppliers to understand their current 
integration of various ESG topics and plans to improve. 
To complement these efforts, we are partnering with 
EcoVadis, a leading supply chain-focused ESG ratings 
organization, to collect data and measure the ESG impact 
in our supply chain. 
Visa has expanded its engagement with our top suppliers 
around climate change and other environmental issues. 
We include environmental criteria for consideration in 
requests for proposal as part of weighted scoring for 
suppliers in addition to diversity and social responsibility. 
Supplier Diversity 
Expanding engagement with diverse suppliers is a priority 
business imperative that adds value to our brand, provides 
a competitive advantage and reflects our customer base. 
We strive to include inclusion and diversity provisions in 
new sourcing agreements in North America operations and 
commit to working with qualified suppliers who fully meet 
the criteria established in our Supplier Diversity Program. 
Visa partners with a third-party supplier to provide up to 
date information on supplier diversity certifications for 
our suppliers, allowing us to report more accurately with 
independently validated data. 
2021 Environmental, Social & Governance Report  | 48

As part of Visa’s Stand Together Initiative, we have made 
significant investments in and commitments to fostering a 
diverse supplier base. Our progress on the following goals 
is reported internally to the Visa Executive Committee on 
a quarterly basis, identifying progress and opportunities for 
continuous improvement. 
•  Requesting diverse account teams for preferred 
suppliers and partners. 
•  Increasing the number of diverse suppliers in our 
network, and thereby increasing Visa spend with 
these suppliers. 
•  Requiring diverse sourcing options for spend across RFPs. 
We encourage our prime non-diverse suppliers to 
establish relationships with, and commit a percentage 
of expenditures to, diverse suppliers. Prime suppliers 
participating in our Second-Tier Initiative report 
information and data on their specific use of small and 
diverse suppliers. We have implemented a system to track 
Visa spend with diverse Tier II suppliers. 
Visa also invests in tools and memberships with diverse 
supplier certification organizations like the National 
Minority Supplier Development Council, Women’s 
Business Enterprise National Council, National LGBT 
Chamber of Commerce and Western Regional Minority 
Supplier Development Council. 
In 2021, Visa expanded Supplier Diversity programs to 
additional regions beyond North America, designing and 
developing reporting criteria and qualifications based 
on data availability. The expansion focused on small and 
micro businesses owned by historically underrepresented 
individuals. For example, an area of focus in South Africa 
was on women and the Broad Based Black Economic 
Empowerment program. 
Human Rights 
We recognize our responsibility to respect and, where 
possible, promote human rights across our company, 
operations and supply chain, including standards identified 
in the Universal Declaration of Human Rights and the 
International Labour Organization Declaration on the 
Fundamental Principles and Rights at Work. Our approach 
to respecting human rights is informed by the United 
Nations Guiding Principles on Business and Human Rights 
(Guiding Principles). 
Visa's cross-functional Human Rights Working Group 
(HRWG) oversees our overall approach, including risk 
identification, mitigation and due diligence strategy. 
The HRWG shares progress with members of the Visa 
executive team and Board of Directors on a regular basis. 
The Board’s Nominating and Corporate Governance 
Committee provides human rights oversight as part 
of its overarching ESG responsibility, as detailed in the 
Committee’s Charter. 
We completed our most recent triennial Human 
Rights Impact Assessment in 2020. Through this global 
assessment—conducted in accordance with the Guiding 
Principles—we identify and review salient human rights 
risks resulting from our operations, network, supply chain, 
partnerships and sponsorships. 
2021 Environmental, Social & Governance Report  | 49

Informed by this assessment, our human rights strategy 
focuses on mitigating risks emanating from Visa’s role as a/an: 
Employer 
We acknowledge and respect the human rights of each 
employee. Our Code of Business Conduct and Ethics 
outlines our employee protections and freedoms, 
including: privacy, expression, association and maintaining 
a workplace safe from retaliation. Policies contributing to 
the respect of human rights of our employees include: 
Harassment and Discrimination Policy; Safety, Health and 
Environmental Policy; Whistleblower Policy and Non-
Retaliation Policy. 
Purchaser 
We acknowledge and respect the human rights of 
workers in our supply chain. Our Supplier Code outlines 
our expectations for suppliers including safe working 
conditions and respect of human rights. 
E-Payments Enabler
 As financial crimes can support and contribute to human 
rights abuses such as human trafficking, we are committed 
to preventing illegal activities on our network. 
Business Partner and Sponsor 
We incorporate respect for human rights into the 
expectations of and engagement with our partnerships 
and sponsorships, including issues at the intersection of 
sport and human rights. 
In 2021, Visa advanced our human rights due diligence 
approach through: 
•  Conducting a review of the human rights implications 
of artificial intelligence (AI) and Visa’s current approach 
to responsible AI. 
•  Collaborating with peer companies and expert 
stakeholders at the Centre for Sport and Human 
Rights as co-founding supporter and member of the 
Centre’s Advisory Board and Mega-Sporting Events 
Working Group. 
•  Engaging with major sporting bodies and other human 
rights stakeholders to help advance human rights in 
major sporting events. 
•  Reviewing Visa’s approach to human rights due diligence 
in select high risk markets. 
We publish an annual UK Modern Slavery Act Transparency 
Statement, highlighting our efforts to help ensure slavery 
and human trafficking are not taking place in our business 
and across our supply chain. 
Centre for Sport 
& Human Rights 
As a sponsor of major sports bodies and events, Visa 
remains a proud founding supporter and Advisory 
Council member of the Centre for Sport and Human 
Rights (CSHR). 
In 2021, CSHR announced a strategic plan for the 
period 2021-2025. The strategy outlines urgent 
challenges and trends in sport and human rights and 
describes how CSHR will seek to address them in 
cooperation with its global network. CSHR’s approach 
is rooted in international standards, including the 
United Nations Guiding Principles on Business and 
Human Rights, as well as a shared commitment to 
the Sporting Chance Principles. 
2021 Environmental, Social & Governance Report  | 50

Appendix 
51
51

GHG Emissions Verification Statement   
VERIFICATION OPINION DECLARATION 
GREENHOUSE GAS EMISSIONS 
To: The  Stakeholders of VISA Inc. 
Apex Companies, LLC (Apex) was engaged  to conduct  an independent  verification of  the greenhouse gas (GHG)  
emissions reported by  VISA  U.S.A.  Inc. (VISA) for the period stated below. This verification opinion  declaration 
applies to the related information included within the scope of w
 ork described below. 
The determination of  the GHG emissions is the sole responsibility of  VISA. VISA is responsible for  the preparation 
and fair presentation of the GHG statement in accordance with  the  criteria. Apex’s sole responsibility was to provide  
independent  verification on the accuracy of the GHG emissions reported, and on the underlying systems  and  
processes used  to collect, analyze and review the information.  Apex  is responsible for expressing an opinion on the  
GHG statement based on the verification. Verification activities applied in a limited level of  assurance verification are 
less extensive in nature, timing and extent than in a reasonable level of assurance verification. 
Boundaries of the reporting  company GHG emissions  covered by the  verification: 
x 
Operational Control 
x 
Worldwide 
Types of GHGs: CO2 N2O CH4 HFCs,PFCs 
GHG Emissions Statement: 
x 
Scope 1:  4,000 metric  tons of CO2 equivalent 
x 
Scope 2 (Location-Based): 59,200 metric tons  of CO2 equivalent 
x 
Scope 2 (Market-Based):  0 metric  tons of CO2 equivalent 
x 
Scope 3: 
Purchased Goods & Services:  302,200 metric  tons of CO2 equivalent 
Capital Goods: 0  metric tons  of CO2 equivalent 
Fuel & Energy Related  Activities: 4,200 metric tons of CO2 equivalent 
Waste Generated  in Operations: 500 metric tons of CO2 equivalent 
Business Travel:  1,300 metric tons of CO2 equivalent 
Employee Commuting:  13,000 metric tons of CO2 equivalent 
Downstream Leased Assets:  12 metric tons  of CO2 equivalent 
Data and information supporting the Scope 1 and Scope 2  GHG emissions  statement w
 ere historical in nature. 
Data and information  supporting the Scope 3 GHG emissions statement were in some cases estimated rather  
than historical  in nature. 
Period covered by GHG emissions verification: 
x 
October 1, 2020 to  September 31,  2021 
Criteria against which verification conducted: 
x 
World Resources Institute (WRI)/World  Business Council for Sustainable Development (WBCSD) 
Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standard (Scope 1 and 2) 
Page 2 
x 
WRI/WBCSD Greenhouse Gas Protocol Corporate Value Chain (Scope 3) Accounting and Reporting 
Standard (Scope 3)  
Reference Standard: 
x 
ISO 14064-3 Second edition 2019-04: Greenhouse gases  -- Part 3: Specification with guidance for the 
verification and  validation  of greenhouse gas  statements 
Level of Assurance and Qualifications: 
x 
Limited 
x 
This verification used a m
 
ateriality threshold of ±5% for  aggregate errors  in sampled data for each of the 
above indicators 
GHG  Verification Methodology: 
Evidence-gathering procedures included but  were not limited to: 
x 
Interviews with relevant personnel  of  VISA; 
x 
Review of  documentary evidence produced  by  VISA; 
x 
Review of VISA data and information systems and methodology for collection,  aggregation,  analysis  and  
review of  information used to determine GHG emissions; and 
x 
Audit of sample o
 f data used by VISA to determine GHG emissions. 
Verification Opinion: 
Based on the process and procedures  conducted, there is no evidence that  the GHG emissions  statement shown 
above: 
x 
is not materially correct and is  not a fair representation of the GHG  emissions data  and information; and 
x 
has not  been prepared in accordance with the  WRI/WBCSD GHG  Protocol Corporate Accounting and 
Reporting Standard (Scope 1  and 2), and WRI/WBCSD Greenhouse Gas Protocol Corporate Value  Chain 
Accounting and Reporting Standard (Scope  3). 
It is our opinion that VISA has established appropriate systems for the collection,  aggregation and analysis of  
quantitative data for  determination of these GHG emissions for the stated period and boundaries. 
Page 3 
Statement of independence, impartiality and competence 
Apex is an independent  professional services  company that specializes in Health,  Safety, Social and Environmental 
management  services including assurance with over  30 years  history in providing these services. 
No  member  of  the verification team has a business relationship with VISA, its Directors or Managers beyond that  
required of  this assignment.  We conducted this  verification independently and to our knowledge there has been no 
conflict of interest. 
Apex has implemented a Code of Ethics across the business to maintain high ethical standards among staff in their 
day-to-day business activities. 
The verification team has extensive experience in conducting assurance over  environmental, social,  ethical  and  
health and safety information, systems and processes, has  over 20 years combined experience in this field  and an 
excellent understanding of  Apex’s standard methodology  for the verification of  greenhouse  gas emissions data. 
Attestation:  
Trevor Donaghu, Lead Verifier 
Program Manager 
Apex Companies, LLC 
Pleasant Hill, CA 
January  27, 2022  
Joe Winslow, Technical Reviewer 
Project Manager 
Apex Companies, LLC 
Atlanta, GA 
This  verification statement, including the opinion expressed herein, is provided to  VISA and is solely for the benefit of  VISA in 
accordance  with the terms of our agreement. We consent to the release of this statement  by you to CDP in order  to satisfy the terms 
of CDP disclosure requirements but without accepting or assuming  any responsibility or liability on our part  to CDP or to any other  
party who may have access to this statement. 
2021 Environmental, Social & Governance Report  | 52

ESG Framework Map 
We map relevant disclosures to help stakeholders assess our performance. Visa used the Global Reporting Initiative (GRI) Standards to help guide the development of this report. 
Elements of the following GRI, Sustainability Accounting Standards Board (SASB) and World Economic Forum (WEF) indicators may be partially disclosed. 
General Disclosures 
GRI Standard 
GRI Core or 
Comprehensive 
GRI 
Code 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Organizational Profile 
General 
Disclosures 
2016 
Core 
102-1 
Name of the organization 
Visa Inc. 
Core 
102-2 
Activities, brands, 
products, and services 
2021 Annual Report: Business, pages 4-17 
Core 
102-3 
Location of headquarters 
San Francisco, CA 
Core 
102-4 
Locations of operations 
Corporate Profile, page 5; 2021 Annual Report: page 1 and Properties, page 31 
Core 
102-5 
Ownership and legal form 
Visa Inc. (NYSE: V) is a publicly held corporation organized existing under the laws of the 
State of Delaware. 
Core 
102-6 
Markets served 
Corporate Profile, page 5; 2021 Annual Report: Business, page 4 
Core 
102-7 
Scale of the organization 
Corporate Profile, page 5 
Core 
102-8 
Information on 
employees and other 
workers 
TC-SI-330a.3 
Dignity and 
equality 
Equal Opportunity Employment Report; 2022 Proxy Statement, page 10 
Core 
102-9 
Supply chain 
2021 Annual Report: Business, page 5; Revenue Growth Drivers. pages 7-17 
Core 
102-10 
Significant changes to 
the organization and its 
supply chain 
2021 Annual Report, page 13. 
In FY 2021, Visa acquired YellowPepper to accelerate its network of networks strategy in 
Latin American and the Caribbean. On June 24, 2021 Visa signed an agreement to acquire 
Tink AB (Tink). On July 22, 2021 Visa signed a definitive agreement to acquire The Currency 
Cloud Group Limited (Currencycloud). 
Core 
102-11 
Precautionary Principle 
or approach 
Protecting the Planet, page 34 
Core 
102-12 
External initiatives 
UK Modern Slavery Act Transparency Statement 
Clean Energy Buyers Association 
Council for Inclusive Capitalism 
Chase, United Airlines and Visa partnership to support The Human Rights Campaign, 
StartOut and The Trevor Project 
Core 
102-13 
Membership of 
associations 
Relevant Memberships, page 7 
2021 Environmental, Social & Governance Report  | 53

ESG Framework Map 
General Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Strategy 
General 
Disclosures 
2016 
Core 
102-14 
Statement from senior 
decision maker 
Governing 
purpose 
CEO Letter, page 1 
Comprehensive 
102-15 
Key impacts, risks, and 
opportunities 
TC-SI-550a.2 
Risk and 
opportunity 
oversight 
2021 Annual Report: Risk Factors pages 17-30 
Ethics and integrity 
General 
Disclosures 
2016 
Core 
102-16
Values, principles, 
standards, and norms of 
behavior 
Visa Inc. Code of Business Conduct, Visa Inc. Supplier Code of Conduct, Anti-Bribery 
Policy, Political Participation, Lobbying and Contributions Policy 
 
Comprehensive 
102-17
Mechanisms for advice 
and concerns about 
ethics 
Ethical 
behavior 
Ethics & Compliance, page 46   
Visa’s Confidential Compliance Hotline, operated by a third party, is available in  
multiple languages, and online or by phone, 24 hours a day, seven days a week. 
Governance 
General 
Disclosures 
2016 
Core 
102-18 
Governance structure  
Quality of 
governing 
body 
Corporate Governance, page 45; 2022 Proxy Statement: Corporate Governance,  
pages 11-19 
Comprehensive 
102-19 
Delegating authority  
Our Environmental, Social & Governance Approach, ESG Oversight, page 6 
Comprehensive 
102-20
Executive-level 
responsibility 
for economic, 
environmental, and social 
topics 
Our Environmental, Social & Governance Approach, ESG Oversight, page 6 
Comprehensive 
102-21
Consulting stakeholders 
on economic, 
environmental, and social 
topics 
Stakeholder Engagement, page 7; 2022 Proxy Statement: Stockholder Engagement on 
Corporate Governance, Corporate Responsibility, and Executive Compensation Matters, 
pages 16-18 
2021 Environmental, Social & Governance Report  | 54

ESG Framework Map 
General Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Governance 
General 
Disclosures 
2016 
Comprehensive 
102-22
Composition of the 
highest governance body 
and its committees 
Quality of 
governing 
body 
2022 Proxy Statement: Board Leadership Structure, page 11; Committees of the Board of 
Directors, pages 22-28 
Comprehensive 
102-23 
Chair of the highest 
governance body 
2022 Proxy Statement: Board Leadership Structure, page 11; Committees of the Board of 
Directors, pages 22-28 
Comprehensive 
102-24
Nominating and selecting 
the highest governance 
body 
2022 Proxy Statement: Process for Nomination of Director Candidates, page 29 
Comprehensive 
102-25 
Conflicts of interest  
Visa Inc. Corporate Governance Guidelines 
Comprehensive 
102-35 
Remuneration policies 
2022 Proxy Statement: Compensation of Non-Employee Directors, pages 31-34; Executive 
Compensation, pages 71-91 
Comprehensive 
102-36 
Process for determining 
remuneration 
2022 Proxy Statement: Highlights of our Non-Employee Director Compensation Program, 
page 31; 
Stakeholder Engagement 
General 
Disclosures 
2016 
Core 
102-40 
List of stakeholder 
groups 
Stakeholder Engagement, page 7 
Core 
102-41 
Collective bargaining 
agreements 
Visa does not report the percentage total of employees covered by collective bargaining 
agreements. 
Core 
102-42 
Identifying and selecting 
stakeholders 
Our Company, page 4 
Core 
102-43 
Approach to stakeholder 
engagement 
Stakeholder 
engagement 
Our Company, page 4 
Core 
102-44 
Key topics and concerns 
raised 
Our Company, page 4 
2021 Environmental, Social & Governance Report  | 55

ESG Framework Map 
General Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Reporting Practice 
General 
Disclosures 
2016 
Core 
102-45 
Entities included in the 
consolidated financial 
statements 
2021 Annual Report: Business, page 5 
Core 
102-46 
Defining report content 
and topic boundaries 
Our Company, page 4 
Core 
102-47 
List of material topics 
Stakeholder 
engagement 
The sections of this report are organized in line with the results of our materiality 
assessment; 2022 Proxy Statement, page 20. 
Core 
102-48 
Restatements of 
information 
Environmental data have been restated where applicable due to new data management 
practices to improve consistency. 
Core 
102-49 
Changes in reporting 
This report references GRI but was not prepared in accordance with the Standards. 
Core 
102-50 
Reporting period 
October 1, 2020 — September 30, 2021 
Core 
102-51 
Date of most recent 
report 
May 2021 
Core 
102-52 
Reporting cycle 
Annual 
Core 
102-53 
Contact point for 
questions regarding 
report 
Please direct questions on this report or topics related to our corporate responsibility 
disclosures to sustainability@visa.com. 
Core 
102-54 
Claims of reporting in 
accordance with the GRI 
Standards 
This report references the GRI but was not prepared in accordance with the Standards. 
Core 
102-55 
GRI Content Index 
ESG Framework Map, pages 53-64 
Core 
102-56 
External assurance 
Visa does not seek external assurance. We assure report content through an internal 
review process, including executive oversight of subject matter reviews and validation. 
We also work with a third party to assure the following data: scope 1, scope 2 and select 
scope 3 greenhouse gas emissions. 
2021 Environmental, Social & Governance Report  | 56

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
Comprehensive 
GRI 
Code 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Material Topic: Employee Safety & Wellbeing 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Employee Safety, page 33; Employee Wellbeing, page 31 
Occupational 
Health and 
Safety 2019 
Core 
403-1 
Occupational health 
and safety management 
system 
Employee Safety, page 33; Employee Wellbeing, page 31 
Core 
403-2  
Hazard identification, risk 
assessment, and incident 
investigation 
Employee Safety, page 33; Employee Wellbeing, page 31 
Core 
403-3 
Occupational health 
services 
Employee Safety, page 33; Employee Wellbeing, page 31 
Core 
403-4  
Worker participation, 
consultation, and 
communication on 
occupational health and 
safety 
Employee Safety, page 33; Employee Wellbeing, page 31 
Core 
403-5  
Worker training on 
occupational health and 
safety 
Employee Safety, page 33; Employee Wellbeing, page 31 
Core 
403-6 
Promotion of worker 
health 
Health and 
wellbeing 
Employee Safety, page 33; Employee Wellbeing, page 31 
Core 
403-7  
Prevention and mitigation 
of occupational health 
and safety impacts 
directly linked by 
business relationships 
Employee Safety, page 33; Employee Wellbeing, page 31 
2021 Environmental, Social & Governance Report  | 57

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Material Topic: Employee Engagement 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Employee Engagement, page 30 
Training and 
Education 
2016 
Core 
404-3 
Percentage of employees 
receiving regular 
performance and career 
development reviews 
Visa expects employees and managers to engage in regular check-in conversations for 
ongoing feedback and career development, with specific guidance for mid-year and year-
end performance discussions. 100% of eligible employees received a performance review. 
Material Topic: Inclusion & Diversity 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Inclusion & Diversity, page 24 
Diversity 
and Equal 
Opportunity 
2016 
Core 
405-1 
Diversity of governance 
bodies and employees 
TC-SI 330a.3 
Dignity and 
equality 
Inclusion & Diversity, page 24; Snapshot of Directors, page 45 
Comprehensive 
405-2  
Ratio of basic salary and 
remuneration of women 
to men 
Dignity and 
equality 
Pay Equity, page 25; 2022 Proxy Statement, page 10  
At Visa, men and women earn the same pay for the same work globally. For our last 
completed fiscal year ended September 30, 2021, the ratio of the median of the annual 
total compensation of our employees, excluding our Chief Executive Officer (CEO), to the 
annual total compensation of our CEO is 211:1. 
Material Topic: Employee Learning & Development 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Employee Learning & Development, page 28 
Training and 
Education 
2016 
Core 
404-1 
Average hours of training 
per year per employee 
Skills for 
the future 
In 2021 on average, Visa employees participated in 12 hours of training. 
Comprehensive 
404-2  
Programs for upgrading 
employee skills and 
transition assistance 
programs 
Employee Learning & Development, page 28 
2021 Environmental, Social & Governance Report  | 58

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Material Topic: Employee Benefits 
Management 
Approach 
2016 
Core  
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Employee Benefits, page 32 
Employment 
2017 
Core 
401-2  
Benefits provided to 
full-time employees 
that are not provided to 
temporary or part-time 
employees 
Employee Benefits, page 32 
Material Topic: Digital Equity and Inclusion 
Management 
Approach 
2016 
Core  
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Digital Equity & Inclusion, page 12 
Indirect 
Economic 
Impacts 
Core 
203-2  
Significant indirect 
economic impacts 
Digital Equity & Inclusion, page 12; Sustainable Commerce, page 41 
Material Topic: Community Support 
Management 
Approach 
2016 
Core  
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Community Support, page 13 
Local 
Communities 
2017 
Core 
413-1  
Operations with local 
community engagement, 
impact assessments, and 
development programs 
Empowering People, Communities & Economies, page 9; Investing in Our People, page 23 
2021 Environmental, Social & Governance Report  | 59

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Material Topic: Payments Security 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Payments Security, page 17 
Core 
Self-Selected Metric 
FN-CF-230a.3 
Payments Security, page 17 
Material Topic: Cybersecurity 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Cybersecurity, page 19 
Core 
Self-Selected Metric 
TC-SI-230a.2 
Cybersecurity, page 19 
Material Topic: Responsible Data Use 
Management 
Approach 
2016 
Core  
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Responsible Data Use, page 21 
2021 Environmental, Social & Governance Report  | 60

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Material Topic: Responsible Data Use 
Customer 
Privacy 2016 
Core 
418-1  
Substantiated 
complaints concerning 
breaches of customer 
privacy and losses of 
customer data 
Per SEC rules, any material breach of Visa’s Code of Business Conduct and Ethics would 
be disclosed. Visa does not disclose non-material breaches of our Code of Business 
Conduct and Ethics. 
TC-SI-220a.1 
Responsible Data Use, page 21 
Material Topic: Sustainable Operations 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Protecting the Planet, page 34 
Energy 2016 
Core 
302-1 
Energy consumption 
within the organization 
TC-SI-130a.1 
Protecting the Planet, page 34; Visa's CDP Response 
Comprehensive 
302-2  
Energy consumption 
outside of the 
organization 
TC-SI-130a.1 
Energy & Greenhouse Gas Emissions, page 39 
Comprehensive 
302-4 
Reduction of energy 
consumption 
Our Results, page 38 
Water and 
Effluents 2018 
Comprehensive 
303-3 
Water withdrawal 
TC-SI-130a.2 
Freshwater 
availability 
Water withdrawal data is collected directly from facilities that Visa operates (owned or 
leased) as part of the annual environmental inventory process. Visa then determines areas 
of high or extremely high water stress using WRI’s Aqueduct Water Risk Atlas. Forty-four 
percent of Visa's water use occurs in an area of high or extremely high baseline water 
stress. This metric does not include the recycled water that is used at Visa’s data center in 
the Eastern U.S. 
Comprehensive 
303-5 
Water consumption 
TC-SI-130a.2 
Freshwater 
availability 
Water, page 40 
2021 Environmental, Social & Governance Report  | 61

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Material Topic: Sustainable Operations 
Emissions 
2016 
Comprehensive 
305-1 
Direct (Scope 1) GHG 
emissions 
Climate 
change 
Energy & Greenhouse Gas Emissions, page 39; Visa discloses to the CDP survey annually. 
See  Visa's CDP Response for further energy and emissions information. 
Comprehensive 
305-2 
Energy indirect (Scope 2) 
GHG emissions 
Climate 
change 
Comprehensive 
305-3 
Other indirect (Scope 3) 
GHG emissions 
Climate 
change 
Comprehensive 
305-4 
GHG emissions intensity 
Comprehensive 
305-5 
Reduction of GHG 
emissions 
Climate  
change 
Effluents and 
Waste 2017 
Comprehensive 
306-2 
Waste by type and 
disposal method 
Water, page 40 
TC-SI-130a.3 
Protecting the Planet, page 34 
Material Topic: Sustainable Commerce 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Sustainable Commerce, page 41 
Indirect 
Economic 
Impacts 
Core 
203-2 
Significant indirect 
economic impacts 
Inclusive Economies, page 8; Sustainable Commerce, page 41 
Material Topic: Corporate Governance 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Corporate Governance, page 45 
Diversity 
and Equal 
Opportunity 
2016 
Core 
405-1 
Diversity of governance 
bodies and employees 
Inclusion & Diversity, page 24; Snapshot of Directors, page 45 
2021 Environmental, Social & Governance Report  | 62

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Material Topic: Ethics & Compliance 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Ethics & Compliance, page 46 
Anti-
Corruption 
2016 
Comprehensive 
205-1 
Operations assessed 
for risks related to 
corruption 
Ethics & Compliance, page 46 
Comprehensive 
205-2  
Communication and 
training about anti-
corruption policies and 
procedures 
Ethical 
behavior 
Ethics & Compliance, page 46 
Material Topic: Ethics & Compliance 
Anti-
Competitive 
Behavior 2016 
Core 
206-1  
Legal actions for anti-
competitive behavior, 
anti-trust, and monopoly
practices 
TC-SI-520a.1 
2021 Annual Report: Legal and Regulatory Matters, pages 47-48, and Note 20-Legal 
Matters, pages 103-110 
Material Topic: Engaging with Governments 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Engaging with Governments, page 47 
Tax 2020 
Core 
207-1 
Approach to tax 
Community 
and social 
vitality 
Tax Compliance & Governance, page 48; 2021 Annual Report, page 36 and pages 56-57 
2021 Environmental, Social & Governance Report  | 63

ESG Framework Map 
Topic-Specific Disclosures 
GRI Standard 
GRI Core or 
GRI 
GRI Metric 
SASB Code 
WEF Metric 
Location or Direct Response 
Comprehensive 
Code 
Material Topic: Responsible Sourcing 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Responsible Sourcing, page 48 
Supplier 
Environmental 
Assessment 
2016 
Core 
308-1 
New suppliers that 
were screened using 
environmental criteria 
Visa does not disclose the number of new suppliers screened using environmental 
criteria. 
Material Topic: Human Rights 
Management 
Approach 
2016 
Core 
103-1, 
103-2, 
103-3 
Explanation of the 
material topic and its 
Boundary 
Human Rights, page 49 
Human Rights 
Assessment 
2017 
Core 
412-1 
Operations that have 
been subject to human 
rights reviews or impact 
assessments 
Human Rights, page 49; Visa Modern Slavery Act Transparency Statement 
Comprehensive 
412-3 
Significant investment 
agreements and 
contracts that include 
human rights clauses or 
that underwent human 
rights screening 
Human Rights, page 49 
Other Disclosures 
Economic 
Performance 
2016 
Comprehensive 
201-1 
Direct economic 
value generated and 
distributed 
Employment 
and wealth 
generation 
Corporate Profile, page 5; 2021 Annual Report, pages 2, 34 
Employment 
and wealth 
generation 
2021 Annual Report: Liquidity and Capital Resources, pages 42-45, and Fiscal Year 2021 
Key Statistics, page 5 
Innovation 
of better 
products and 
services 
Visa does not report total costs related to research and development. 
Environmental, Social & Governance Report  | 64

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