We endeavor to maintain a healthy and transparent relationship with governments around the world by communicating our views and concerns to elected officials and policy-makers. As an industry leader, we encounter challenges and opportunities on a wide range of policy matters at the federal, state and local levels in the United States, as well as internationally.
Visa seeks to advance policies in alignment with our corporate purpose and that expand the use of and access to electronic payments. We devote political resources to many issues that impact the payment industry, including: payment innovation; interchange; cyber security, information sharing, and cyber threats; payment card security, data security, and data breach; privacy and data use; network brand risks; intellectual property; surcharging; payroll and prepaid cards; mobile payments; tax; international trade and market access; small business issues; and financial education and financial inclusion, among others.
We engage lobbyists and partner with trade associations and other organizations to assist us in responding to these challenges and opportunities, by:
- providing access to policy-makers, political intelligence, and policy analysis;
- monitoring legislation;
- providing a forum for discussing important industry issues and advocating for common business interests;
- helping ensure that we have a voice in the policy-making process, particularly on matters receiving significant support from opposing parties; and
- advancing our global lobbying and advocacy strategies.
Our Government Engagement Department must pre-approve these engagements and lobbying activities, and regularly reviews them to ensure that they continue to best serve our business interests and objectives.
In addition, our Government Engagement Department annually prepares and presents to the Nominating and Corporate Governance Committee a report regarding the company's lobbying expenditures, which includes information regarding our memberships in and payments to trade associations and industry groups for lobbying purposes, and tax exempt organizations that write and endorse model legislation. While we do not publish this report, we do file quarterly reports regarding our U.S. federal lobbying activities and expenditures with the Office of the Clerk of the U.S. House of Representatives and the Secretary of the U.S. Senate, as required by the Lobbying Disclosure Act of 1995 and the Honest Leadership and Open Government Act of 2008. These reports are available by searching for "Visa" as a "Registrant" on the U.S. Senate's website.
With regard to tax exempt organizations that write and endorse model legislation, we are currently a member of The Council of State Governments and the State Financial Officers Foundation. In 2022, Visa contributed $10,000 in membership dues to The Council of State Governments and $25,000 to the State Financial Officers Foundation.