Visa’s Mission to Digitally Enable Small Businesses Gains Momentum Across Europe
Visa (NYSE: V) today announced more than 100 partners across Europe have joined the Where You Shop Matters initiative to help small business owners build digital capabilities and continue serving their communities.
More than two million small firms across Europe have received support since the launch of the program in summer 2020. The announcement marks a major milestone in Visa’s commitment to help eight million small and medium sized businesses (SMBs) in Europe – and 50 million globally - to get online, adapt and future proof their business.
Across Europe, Covid-19 continues to have a devastating impact on small businesses. Research conducted by Visa revealed that 65% of small businesses are concerned about the future of their business.1 With many having to operate under restrictions and lockdowns, small businesses are increasingly moving their operations online and embracing digital payments. Visa data shows that over 10 countries in Europe have seen a 20% increase in online sales and eight in ten transactions are now contactless.
Hemlata Narasimhan, SVP, Merchant Sales and Acquiring Europe at Visa said: “Small businesses play a crucial role in our communities and many continue to operate under challenging conditions brought on by Covid-19. We continue to be inspired by the innovation and entrepreneurial spirit many small business owners have shown, adapting how they do business to keep serving their customers.
"We are proud that over two million small businesses have been able to benefit from our partner initiatives. We remain committed to continue working with our clients and partners towards an economic recovery that keeps small businesses at the heart of our communities.”
Since announcing its commitment to support eight million small businesses across Europe in their digital transformation journey, Visa has joined forces with banks, governments, commerce platforms and technology partners to digitally enable small businesses. Highlights include:
- Public Private Partnerships: In the Czech Republic, Poland and Slovakia, Visa is working with governments to provide small business access to contactless acceptance terminals and software free of charge for the first 12 months. Governments in 29 countries have responded and raised the contactless limit to make it easier to for consumers to pay touch free.
- New acceptance technology: ‘Tap-to-Phone’, a new Visa technology that transforms mobile devices into payment terminals, is helping thousands of small business owners to accept digital payments in the Czech Republic, Italy, Poland, Romania, Slovakia Turkey, Ukraine and the UK.
- New online tools: Setting up a business online can be a daunting task. Visa is working with online platforms and digital marketplaces so that small stores can set up an online presence with minimal cost and hassle. These programmes have been launched in several countries across Europe supporting thousands of local businesses. Visa has also expanded its Practical Business Skills platform, a global digital platform delivering free education resources to help small and micro business (SMB) owners make confident, informed decisions to grow their businesses through expanded digital transformation.
- New banking tools: Small firms are also turning to digital banking tools to help manage their finances during a critical time for their business. In partnership with banks and FinTechs across Europe, Visa has over 30 new business card programmes that help small firms better manage their cashflow and purchasing, while offering access to innovative, new business banking tools.
- Community Engagement: Visa has expanded its Where You Shop Matters campaign, calling on consumers to shop locally and support small businesses in their communities. Examples of local campaigns to galvanise support for local shops include Champion Green (Ireland), Smart SME (Turkey) and Fiver Fest (UK).
Over 100 programmes have launched supported by industry partners including Alpha Bank, Akbank, Axerve, Banca Sella, Banco Santander, BeeDigital, CEC Bank, the Co-Operative bank, Clickandcollection.com, Fiserv, Fruugo, iCard- myPOS, Israel Credit Cards, Juni, National Bank of Greece, Tyl by NatWest, Nexi, Orderbird, Oma Savings Bank Plc, Payplug, Piraeus Bank, ShopAppy.com, Shopify, Viva Wallet, WorldLine amongst others. These initiatives have helped provide more than two million small firms with the tools, capabilities and resources to adapt, trade online and meet consumer demand for digital payments.
“Banca Sella is actively committed in supporting SMBs in their digital journey, offering smart and effective solutions to allow them to scale their business to the next level thanks to digital payments,” said Rosy Alaia, Head of Electronic Payment Systems, Banca Sella. “During the current pandemic we’ve seen a strong shift towards digital payments but is still plenty of opportunities for Italian small merchants to further improve their digital acceptance, matching new consumer trends and expectations of smart and alternative way to pay. We believe we can achieve this objective also thanks to the collaboration with partners like Visa.”
“Fiserv enables payments for millions of businesses across a wide range of sectors in Europe and globally, and we have seen firsthand how the COVID-19 pandemic has compelled small businesses to seek out technology that enables them to operate in new, more digital ways,” states Nigel Motyer, senior vice president of Global Business Solutions for Fiserv in EMEA. “Payments are an integral part of any small business, and we’re proud to partner with companies like VISA to equip businesses to meet customers’ demands for secure and convenient digital payment options.”
“For Worldline, specific customer insight and solid partnerships are key elements that ensure we continuously bring relevance and value to our merchants”, says Roger Niederer, Chief Market Officer Merchant Services at Worldline. “Together with strategic partners, such as Visa, we can broaden and deepen the reach of electronic payments in a variety of markets and verticals, work on future-oriented omni-channel solutions and help increase the conversion of sales.”
Positive start but more work to be done
With many economies in Europe beginning 2021 with further restrictions, Visa is enlisting the help of its network and calling on more partners to support its initiatives aimed at supporting small businesses with the aim of digitizing millions of small firms in this crucial period for recovery.
For more information, please visit https://www.visa.co.uk/where-you-shop-matters.html
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
1Visa European SME Research in partnership with Dynata (January 2021)
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LEO Pharma Presents Long-Term Safety and Efficacy Data for Tralokinumab in Adults With Moderate-to-Severe Atopic Dermatitis at AAD VMX 202123.4.2021 16:05:00 CEST | Press release
LEO Pharma A/S, a global leader in medical dermatology, today announced results on the long-term safety and efficacy profile of tralokinumab in adult patients with moderate-to-severe atopic dermatitis. Results were shared as an oral presentation during the American Academy of Dermatology Virtual Meeting Experience (AAD VMX) 2021. Tralokinumab is a high affinity, human monoclonal antibody that specifically binds to and inhibits the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms.2,3 It is an investigational therapy in clinical development, and its safety and efficacy are currently being evaluated by regulatory authorities. The interim analysis at 56 weeks in the ECZTEND trial (NCT03587805) showed tralokinumab 300 mg every other week plus optional topical corticosteroids (TCS) demonstrated long-term improvements in itch, sleep, and in atopic dermatitis signs and symptoms.1 Patients who had enrolled in pivotal Phase 3 trials ECZTRA 1 and 2 who continued into ECZTEND w
Merck Announces New Data Strengthening Evidence for Continued Safe and Effective MAVENCLAD ® Use During the COVID-19 Pandemic23.4.2021 15:11:00 CEST | Press release
Not intended for UK and U.S. based media Merck, a leading science and technology company, today announced a new analysis from the MAGNIFY-MS sub-study showing a specific immune repopulation pattern in patients with relapsing multiple sclerosis (RMS) treated with MAVENCLAD® (cladribine tablets), which may contribute to their ability to fight infections and develop protective antibodies from vaccines. The data were presented at the 2021 American Academy of Neurology (AAN) Annual Meeting that was held virtually 17-22 April 2021. In the MAGNIFY-MS study, reduction of memory B cells occurred as early as one month after MAVENCLAD initiation with lowest levels sustained for up to 12 months, while naïve B cells, which are typically required for the generation of antibody responses following vaccination, began recovering immediately. Previously shared data from MAGNIFY-MS indicated that patients receiving MAVENCLAD are able to mount responses to influenza and varicella zoster vaccines, irrespec
Xsolla Offers Exit Strategies to Game Studios for Exit Advising and Planning23.4.2021 15:00:00 CEST | Press release
Xsolla, the video game commerce company powered by its Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, has announced Xsolla Exit Strategies. The new service will connect development studios with financial and transaction advisors, guiding them through the process of selling their game property or studio, from due diligence preparation to exiting. The unveil of Xsolla Exit Strategies comes full circle from Xsolla Funding Club, launched March 2019, which provides matchmaking between vetted game projects and qualified investors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005013/en/ Let Xsolla Exit Strategies match you with a financial and transaction advisor to help meet your exit goals. (Graphic: Business Wire) The gaming industry continues to flourish as demand is high for strategic partnerships and acquisitions for both game companies
Wipro Achieves Google Cloud Partner Specialization in Application Development23.4.2021 14:33:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has achieved the Google Cloud Partner Specialization in application development. This marks the fourth Partner Specialization badge that Wipro has received from Google Cloud, following recognition for outstanding cloud security, migration, and work transformation. This specialization demonstrates Wipro’s capabilities across multiple areas as a Google Cloud SI partner. As a trusted Google Cloud partner, Wipro can help customers leverage the best of Google Cloud platform as they develop and manage cloud-native business applications, enabling faster time to market, increasing scalability of applications and integrating them with external and internal systems in the IT landscape. This specialization will allow Wipro’s team of certified professionals to accelerate the customer modernization journey, increase agility and adapta
LEO Pharma Receives Positive CHMP Opinion of Adtralza ® (tralokinumab) for the Treatment of Adults With Moderate-to-Severe Atopic Dermatitis23.4.2021 13:59:00 CEST | Press release
LEO Pharma A/S, a global leader in medical dermatology, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion and recommended granting a marketing authorization of Adtralza® (tralokinumab) for the treatment of moderate-to-severe atopic dermatitis in adult patients who are candidates for systemic therapy. The CHMP positive opinion is one of the final steps before the European Commission makes its decision on the Marketing Authorization Application for use of Adtralza, an investigational therapy in clinical development, throughout the European Union. This final decision is expected in the coming months and if authorized, Adtralza will be the first fully human, monoclonal antibody available to specifically target the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms. Adtralza specifically targets IL-13 with high affinity and is developed to improve the symptoms of atopic derma
Schlumberger Announces First-Quarter 2021 Results23.4.2021 12:50:00 CEST | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the first-quarter 2021. First-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChange Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 SequentialYear-on-yearRevenue* $5,223 $5,532 $7,455 -6% -30% Income (loss) before taxes - GAAP basis $386 $471 $(8,089) -18% n/m Net income (loss) - GAAP basis $299 $374 $(7,376) -20% n/m Diluted EPS (loss per share) - GAAP basis $0.21 $0.27 $(5.32) -22% n/m Adjusted EBITDA** $1,049 $1,112 $1,347 -6% -22% Adjusted EBITDA margin** 20.1% 20.1% 18.1% 0 bps 203 bps Pretax segment operating income** $664 $654 $776 1% -14% Pretax segment operating margin** 12.7% 11.8% 10.4% 88 bps 230 bps Net income, excluding charges & credits** $299 $309 $351 -3% -15% Diluted EPS, excluding charges & credits** $0.21 $0.22 $0.25 -5% -16% Revenue by Geography International $4,211 $4,343 $5,225 -3% -19% North America* 972 1,167 2,180 -17% -55% Other 40 22 50 n/m n/m $5,223 $5,532 $7,455 -6% -30%
ANAORI kakugama: The New Cooking Tool Shaking Up the Culinary World23.4.2021 12:30:00 CEST | Press release
Japanese brand ANAORI, a leader in manufacturing carbon graphite products, has developed a groundbreaking cooking tool that combines new technologies and natural materials in a unique design. In the coming weeks, renowned chefs from around the world will apply their expertise to showcase the potential of ANAORI kakugama. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005016/en/ ANAORI kakugama Watch the ANAORI kakugama video here ANAORI kakugama: The Culinary Tool Combining Tradition and Innovation The philosophy of ANAORI was born out of respect for Japanese culture, rooted in a tradition of living in harmony with nature. Naturality according to ANAORI means understanding the principles of nature without confronting it, multiplying its powers by means of minimal intervention, in order to best utilise it. The Japanese company unveils two ANAORI kakugama models in two different sizes, to cook with the rhythm of the seas