New Visa Global Cash Management Survey Reveals Companies to Increase Corporate Payment Card Use and Decrease Check Use

Today, at the Visa Global Commercial Forum in Paris, Visa released
a global survey that finds approximately 25 percent of companies plan
to increase their use of corporate payment cards and decrease their
reliance on checks in the near future. Companies believe that
corporate payment cards will reduce costs and enable greater cash flow
management as a result of more transparent financial data for payables
and receivables, according to the survey that was commissioned by
Visa.

The Visa Global Cash Management Survey examined the use of
corporate payment cards on a global basis. The survey was conducted in
two phases. Phase I, conducted by Survey.com, a firm specializing in
internet market research, involved US-based financial, treasury and
cash management executives. Phase II, conducted by Penn, Schoen &
Berland Associates, Inc., a strategic communications and market
research firm, involved senior finance and treasury executives in four
Visa regions, including Asia Pacific (AP), Central and Eastern Europe,
Middle East and Africa (CEMEA), Europe, and Latin America and
Caribbean (LAC). Corporate payment cards are payment and expense
management solutions with information management services that are
designed to help businesses and the public sector achieve cost
savings, greater efficiency, control, and convenience.

"This international research shows that corporate payment cards
are increasing in popularity as their transparency and information
management benefits are becoming better recognized by financial
executives around the world," said Aliza Knox, senior vice president,
Visa Commercial, Visa International. "The research points to a growing
industry trend that checks are declining in popularity because more
companies are seeking solutions that optimize payment and expense
management to help them make better business decisions."

"According to the worldwide survey, companies in Europe - similar
to those in the US - are already accustomed to using corporate payment
cards for account payables and receivables and as a result already
appreciate the associated benefits," said Luc Janssen, Head of Visa
Commercial, Visa Europe. "We're excited to learn from the survey
results that companies in all markets around the world intend to use
corporate payment cards more in the future."

Intention to Increase Use of Payment Cards

In the US and Europe, more than one in three companies (67
percent), and in AP, LAC, and CEMEA, more than one in four companies
(34 percent), plan to increase their use of corporate payment cards in
the next 12-18 months.

Improved Efficiency Through Corporate Payment Cards

The most important reason that companies worldwide plan to
incorporate corporate payment cards is to reduce the associated
administration and processing costs. In addition, companies recognize
that electronic payment cards:

-- Eliminate paper invoicing and payments

-- Ease facilities payables and receivables

-- Provide card transaction data for better vendor negotiations

Importance of Financial Transparency Cited

In general, 75 percent of companies recognize that the most
important capability of electronic payment methods is to provide
easier access to more transparent financial data. Companies ranked
online access to payment and invoice-related detail as the second most
important electronic payment capability. In addition, companies
believe that electronic payments provide:

-- Automated information reporting and back-end integration
capability

-- Ability to process high value payments

-- Ability for buyer to control amount and frequency of payments

-- Ability for buyer to initiate payments

-- Ability for buyer to defer settlement of funds

Reasons for Current Cash Management Inefficiency Vary

Companies view their current cash management process as
inefficient, primarily because of labor-intensive administrative work
and inadequate information and reporting capabilities.

-- In Europe, LAC, and CEMEA, cash positioning and forecasting is
seen as the least efficient process.

-- In the US and AP, collection and application is seen as the
least efficient process.

-- In LAC, disbursements are viewed as the least efficient
process.

Visa Global Cash Management Survey: Objective and Methodology

The objective of the Visa Global Cash Management Survey was to
provide a global view of cash management practices, and gauge the use
and perceptions of corporate payment cards worldwide.

The first phase of the survey, conducted by Survey.com, was
completed in August 2006, and involved the responses of 400 financial
executives and cash managers from across more than 20 industries in
the US. The majority of respondents (85 percent) had annual sales of
more than US$50 million per year, of which 56 percent represented
companies with sales of more than US$500 million annually.

The second phase of the global survey was completed by Penn,
Schoen & Berland Associates, Inc. in late February 2007, and included
383 telephone interviews of treasury managers, cash managers, and
chief accounting officers and financial managers reporting to chief
financial officers. The respondents across four Visa regions were
employed by companies with over 100 employees and annual sales of at
least US$25 million annually.

For additional information about global cash management practices,
visit www.visa.com/cashmgmtsurvey.

Notes to Editors:

About Visa Commercial: Visa Commercial payment solutions -- Visa
Business, Visa Corporate and Visa Purchasing -- combine payment with
information to create intelligent payment solutions that are designed
to enable business and government organizations of any size and type
to reduce costs, streamline operational and payment processes, and
make more informed business decisions. Backed by Visa's unsurpassed
acceptance, Visa Commercial products and services are designed to
provide a complete way to manage payment-related processes, including
travel and entertainment and procurement expenditures, payroll
distribution, and information management. For more information, visit
www.visa.com/visacommercial.

About the Global Commercial Forum: The Visa Global Commercial
Forum, hosted by Visa International, is a global conference targeting
multinational and large market Visa members. The Visa Global
Commercial Forum brings together Visa member bank executives from
around the world to showcase successful Visa Commercial programs and
share best practices on "Driving Efficiencies with Intelligent Payment
Solutions."

About Visa: Visa connects cardholders, merchants and financial
institutions through the world's largest electronic payments network.
Visa products allow buyers and sellers to conduct commerce with ease
and confidence in both the physical and virtual worlds. Visa is
committed to the sustained growth of electronic payment systems to
support the needs of all stakeholders and to drive economic growth.

Visa products currently generate more than $4 trillion in sales
volume worldwide. Visa enjoys unsurpassed acceptance around the world.
In addition, Visa/PLUS is one of the world's largest global ATM
networks, offering cash access in local currency in over 170
countries. For more information, visit www.corporate.visa.com.