Individuals Businesses Innovators Everyone Visa in Europe Interchange Fees Visa in Europe Learn more about our business in Europe. Visa Europe Board Policy & Regulation Corporate Responsibility Diversity & Inclusion Code of Conduct Visa Europe Board Visa retains an effective decision-making body in Europe through a revised Visa Europe Board that reflects our new structure as a wholly-owned subsidiary of Visa Inc. and as a Bank of England designated entity. The role of the Visa Europe Board includes approving the budget for Visa in Europe, tailoring Visa Inc. strategy for the European region and deciding on matters referred to it by the Visa Europe Executive Leadership Team. The CEO is responsible to the Board for the day-to-day management of the European Business, supported by her leadership team and a management committee. Reporting lines with the European business balance the needs of both the regional operating model and the global regional structure, with matrix reporting lines in place for central service functions. Debbie Hewitt MBE - Independent Non-Executive Director, and Board Chair Debbie Hewitt MBE is currently the Non-Executive Chair of Visa Europe Limited, The Restaurant Group plc, BGL (Holdings) Ltd., and White Stuff Limited. Her executive career was spent at RAC plc where she was Group Managing Director and prior to that she was in retail management with Marks & Spencer. She is a Fellow of the Chartered Institute of Personnel Development and was awarded the MBE for services to Business and the Public Sector in 2011. Charlotte Hogg - Chief Executive Officer, Europe Bill Sheedy - Non-Executive Director - Senior Advisor to Visa Inc. Chair and CEO Philippe Tromp – Independent Non-Executive Director, and Risk Committee Chair Aki Hussain – Independent Non-Executive Director, and Audit Committee Chair Rob Livingston - Chief Financial Officer, Europe Peter Plumb - Independent Non-Executive Director Chris Clark - Non-Executive Director - Regional President, Asia Pacific Kelly Mahon Tullier - Non-Executive Director (Alternate) - Executive Vice President, Chief Legal and Administrative Officer Policy & Regulation The European Commission announced new regulations designed to safeguard consumer financial data. New regulations require an additional security step for some online purchases. More purchases will require the added layer of security known as two-factor authentication for consumers to confirm their identity. Self-assessment In December 2019, Visa Europe published its updated self-assessment against the Principles for Financial Market Infrastructures (PFMI). The point of the assessment is 30 June 2019. The PFMIs are internationally agreed standards published by the Committee on Payments and Market Infrastructures (CPMI) and the International Organisation of Securities Commissions (IOSCO) in April 2012. They are a part of a set of standards that the international community considers essential to strengthening and preserving financial stability. Visa Europe as a Recognised Payment System has undertaken the self-assessment against the principles that apply to payment systems. You can download a PDF version of the document here. Visa Rules Visa Europe Operating Regulations The previously published broad Visa Europe Operating Regulations have been retired. The new public version of the Visa Core Rules and Visa Product and Service Rules (which relate to Scheme) can be downloaded here. To request a copy of the rules relating to Processing, please email enquiries.europe@visa.com. Corporate Responsibility Helping people and businesses in our markets to prosper in a global economy. As a trusted brand in payments, Visa has a tremendous opportunity and responsibility to use our business to connect the world— enabling economic growth and strengthening economies while also helping improve lives and create a better world. Corporate Governance Report For periods beginning on or after 1 January 2019, all large companies (including subsidiaries) have to publish a statement explaining how its directors have had regard to wider stakeholders when performing their duty under s172 of the Companies Act 2006. Visa applies high standards and best practice to corporate governance arrangements, complying with the regulatory governance requirements of our regulators. Read Visa's Corporate Governance Report UK Modern Slavery Act Statement Visa is committed to operating responsibly and establishing high ethical standards across our company. The U.K. Modern Slavery Act of 2015 requires companies carrying on business in the U.K. to publish a statement describing steps taken to ensure modern forms of slavery and human trafficking are not taking place in the company’s business operations and supply chains. Read Visa’s Modern Slavery Act Transparency Statement UK Tax Strategy Visa is a global payments technology company that enables fast, secure and reliable electronic payments across more than 200 countries and territories. We facilitate global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. Schedule 19, Finance Act 2016 requires Visa to set out the tax strategy of its UK companies and this is detailed below. This strategy covers all taxes and applies from the date of publication until it is superseded. Read Visa’s UK Tax Strategy UK Pension Schemes The chair of the Trustee Directors of Visa Europe Pension Trustee Limited, Peter Gibbs, has provided two statements for the period ending 30 September 2020. Read Visa Europe Pension Plan Chairman’s Statement Read Visa Europe Pension Plan’s Implementation Statement In addition, there is also a requirement to issue a Statement of Investment Principles for both of Visa’s pension schemes in the UK, which sets out the trustees’ investment strategy and their policy on environmental, social and corporate governance factors. Also, for the Visa UK Pension Plan, the trustees have produced a statement that sets out the actions they have undertaken to implement the stewardship policy in accordance with their SIP. Read Visa Europe Pension Plan’s Statement of Investment Principles dated 23 September 2020 Read Visa UK Pension Plan’s Statement of Investment Principles dated 1 September 2020 Read Visa UK Pension Plan’s current Engagement Policy Implementation Statement FSB Continuity of Access Questionnaire The Financial Stability Board (FSB), an international organization that monitors and makes recommendations about the global financial system, published its Guidance on Continuity of Access to Financial Market Infrastructures (FMIs) for a Firm in Resolution on 6 July 2017. This document provides guidance for FMIs, such as Visa, for maintaining critical function continuity in times of a serious incident. In addition, the FSB also developed a questionnaire for FMIs to complete that provides information relevant to continuity of access support when clients require resolution. Read Visa Europe Limited’s summary response to this questionnaire here. Diversity & Inclusion Visa believes that everyone has the right to be treated with dignity and respect in the workplace irrespective of race, nationality, ethnic origin, religion, belief, sex, sexual orientation, sexual identity including gender reassignment, pregnancy or maternity, age, disability, marriage and civil partnership, and/or any characteristics protected in any of our markets. Gender Pay Reporting Our commitment is not purely based on a strong ethical stance, but also because we value and respect the diversity of our customers, consumers, suppliers, partners, communities and the individualism that every employee brings to our company. UK – Read our 2020 Gender Pay Gap Report France – As a result of our commitment to diversity and equality Visa has scored 88% on the 2020 annual pay index prescribed under the French regulations. As a firm we continue to strive to evolve and improve our policies and practice which overtime will drive continued improvement in our score and help us meet our clients’ needs. Women in Finance Charter In our mission to be an inclusive and balanced organisation, Visa in Europe signed the Women in Finance Charter in 2018. The Charter reflects the UK government’s aspiration to see gender balance at all levels across financial services firms. By signing the Charter Visa in Europe pledges to promote gender diversity by: having one member of our senior executive team who is responsible and accountable for gender diversity and inclusion;setting internal targets for gender diversity in our senior management; publishing progress annually against these targets in reports on our website; having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity. In September 2020, Visa in Europe updated its definition of senior management. Our targets have been revised to reflect this change. As part of the Charter, Visa is committing to the following internal targets. A target of 35% of females in senior management by 2023. A target of 41% of females across Europe by 2023. Visa believes in empowering and advancing the careers of all female leaders. Going forward, we have developed programmes to help us achieve gender balance across all levels of the organisation. Read our Women in Finance Charter Report Business Code of Conduct Learn about our Visa business in Europe, including the corporate structure, key policy and regulation provisions, and corporate responsibility measures. Under this arrangement, we will separately compete for scheme and processing business, while continuing to meet the changing demands of a global marketplace. Our Code of Conduct helps us understand our roles and responsibilities in the context of this structure, no matter which area of Visa we are part of. It helps ensure individual and organisational compliance as we continue to deliver new and exciting products and services quickly and at scale. Working at Visa means being committed to doing the right thing for our customers, and as we work towards creating a single, global Visa, this focus will remain. The Code of Conduct provides a clear framework for employees, to help us navigate this transition while continuing to provide a reliable service based on international acceptance and security. Visa partners with its customers in Europe – banks and payment providers – to enable payments and associated services. Our focus is on providing global, competitive and innovative solutions that meet the needs of our customers. This in turn brings tangible benefits to their customers - enabling merchants to grow their businesses and enabling consumers to pay where and when they choose, and on any device. Visa Europe Limited (Visa) operates separate management bodies for the management of Scheme and Processing. In line with its obligations under Article 16(1) of the Regulatory Technical Standard (Commission Delegated Regulation (EU) 2018/72) of 4 October 2017) (‘RTS’)1 and without prejudice to the exemption of shared services referred to in Article 12 of the RTS, Visa has set out the following clear and objective criteria to ensure that the composition of its management bodies mitigates any conflicts of interest for the decision making process between Scheme and Processing: Any Scheme and Processing management body is constituted with a defined mandate that ensures compliance with Visa’s Separation of Scheme and Processing Code of Conduct (including the protection of sensitive information and other conduct obligations to mitigate any conflicts of interest). Members of the relevant management bodies of each of Scheme and Processing will at all times be subject to conflicts of interest policies Any circumstances where directorships may be held by the same person at the same time in the management body of Scheme and Processing will be objectively justified and restricted to the minimum necessary to address a specific need or purpose. An example of circumstances where it may be necessary would be for regulatory, prudential or other risk based oversight. 1 onshored in the UK by the Technical Standards (Interchange Fee Regulation) (EU Exit) Instrument 2019 About Visa Leading by Example Visa In Europe What We Do Careers Our Values Operating Responsibly Social Impact Inclusion + Diversity News + Media Visa Blog Newsroom Visa Navigate Investor Relations Support Support Centre Lost or Stolen Visa Visa Rules + Policy Contact Us Legal + Privacy Legal Privacy Intellectual Property Rights Cookie Policy Interchange fees Select country/region Albania Algeria - Arabic Algeria – English Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan – Azeri Azerbaijan – Russian Bahamas Bahrain – Arabic Bahrain – English Bangladesh Barbados Bear Island Belarus Belgium – Dutch Belgium – French Belize Benin Bermuda Bolivia Bonaire Bosnia-Herzegovina Botswana Brazil British Virgin Islands Bulgaria Burkina Faso Cambodia – English Cambodia – Khmer Cameroon Canada – English Canada – French Cape Verde Cayman Islands Chile China Mainland Colombia Commonwealth of Independent States - Russian Costa Rica Croatia Curacao Cyprus – Greek Czech Republic Denmark Dominica Dominican Republic Ecuador Egypt – Arabic Egypt – English El Salvador Estonia Ethiopia Faroe Islands Finland – Finnish Finland – Swedish France Gabon Georgia – English Georgia – Georgian Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guatemala Guyana Haiti Honduras Hong Kong – Chinese Hong Kong – English Hungary Iceland India Indonesia Iraq - Arabic Iraq - English Ireland Israel Italy Ivory Coast Jamaica Japan Jordan – Arabic Jordan – English Kazakhstan – Kazakh Kazakhstan – Russian Kenya Kosovo Kuwait – Arabic Kuwait – English Kyrgyzstan Latvia Lebanon – Arabic Lebanon – English Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg – English Luxembourg – French Macedonia Malaysia Mali Malta Martinique Mauritius Mexico Middle East and North Africa – Arabic Middle East and North Africa – English Moldova Monaco Mongolia – English Mongolia – Mongolian Montserrat Morocco – Arabic Morocco – English Morocco – French Mozambique Myanmar Namibia Netherlands New Zealand Nicaragua Nigeria Norway Oman – Arabic Oman – English Pakistan Palestine – Arabic Palestine – English Panama Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar – Arabic Qatar – English Romania Russian Federation Rwanda Saint Lucia San Marino Saudi Arabia – Arabic Saudi Arabia – English Senegal Serbia Seychelles Singapore Slovakia Slovenia South Africa South East Europe South Korea Spain Sri Lanka St. Kitts and Nevis St. Maarten St. Vincent Sub-Saharan Africa Suriname Sweden Switzerland – French Switzerland – German Switzerland – Italian Taiwan Tanzania Thailand – English Thailand – Thai Togo Trinidad and Tobago Tunisia – Arabic Tunisia – English Turkey Turkmenistan Turks and Caicos U.S. Virgin Islands Uganda Ukraine – Russian Ukraine – Ukrainian United Arab Emirates – Arabic United Arab Emirates – English United Kingdom United States Uruguay Uzbekistan Vatican City Venezuela Vietnam – English Vietnam – Vietnamese Yemen Arab Republic Zambia Zimbabwe Facebook Twitter LinkedIn Instagram ©Copyright 1996 - 2021. All Rights Reserved. We use cookies to give you the best online experience, measure your visits to our sites and to enable marketing activities (including with our marketing partners). For details, see the Visa Cookie Notice. Reject allAcceptReview