eVisa

Visa International has formed a new business unit focused on driving the growth of global electronic and mobile commerce. The new group, e-Visa International, will complement and enhance existing e-commerce initiatives in several Visa regions, including e-Visa in the U.S. and Virtual Visa in the European Union.

"Visa's long-range vision is to help enable the creation of 'u-commerce,' or universal commerce-the ability to conduct commerce anywhere, anytime, over any kind of device with the highest level of trust and convenience," said Visa International CEO Malcolm Williamson. "The creation of e-Visa International will help move us along the road to universal commerce much more quickly."

To help fulfill the vision of universal commerce, e-Visa International will focus on the advancement of new payment technologies such as mobile commerce, the accelerated application of chip technology in e-commerce channels, and increased alliances to build common standards and security in the world of digital commerce.

According to the company, currently, more than 50 percent of all payments on the Internet are made with Visa products. The e-Visa International group will be responsible for solutions that help expand e-commerce market share, as well as creating new opportunities for Visa and its member banks in new payment channels, particularly mobile commerce.

e-Visa International will be based at Visa headquarters in Foster City, Calif. and consist of approximately 30 e-commerce and technology specialists. For additional information visit www.visa.com.