For decades, Visa was a non-profit association. Then in 2007, its regional banks were merged to form Visa Inc. The next year, the new company had one of the largest IPOs in history.
While it was a young company, it was already a behemoth. About 25% of global spending takes place on a Visa card.
Then-CEO Joseph Saunders set a new strategy for the new era: for Visa to be as relevant in the digital space as it is in the physical space.
The payments industry is in a state of disruption. In addition to traditional competitors, new competitors such as Apple Pay, Google Wallet and PayPal sprout up and grab market share.
Visa is also becoming an increasingly global organization. It set up an office of about 1,000 employees in Bangalore and has been expanding into China. Years of efforts to bring Visa Europe into the new company came to fruition in 2016.
These changes, and the pace at which technology is transforming business, lay the groundwork for what the company would have to establish: A new culture that would attract and empower the best and brightest employees all over the world and constantly evolve in order to remain on top. It needed an organization for the future and learning is the key.
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20%of Visa employees logging in to learn every week
50%adoption in Visa Europe after 3 weeks