Visa Inc completes acquisition of Visa Europe, appoints new board member
Visa Inc and Visa Europe are united again. The combined company provides digital payment products, services and processing to about 17,100 financial institution clients and partners, 40+ million merchant outlets, and three billion Visa accounts worldwide.
The company says its branded cards and payment products amount to approximately $6.8 trillion in global payments volume annually.
Visa Inc has also appointed a new, 12th director to its board – Gary A Hoffman, CEO of Hastings Group. Hoffman is currently chairman of Visa Europe.
Hoffman comes with years of experience in the UK’s financial services space, including various senior roles at Northern Rock, Barclays and Barclaycard. He’s been chief executive of Hastings Group, a UK-based insurance company, since November 2012.
Visa Inc overcame the latest hurdle on its way to uniting with Visa Europe just a few weeks ago, with the European Commission approving the merger. This concluded all regulatory approvals required for this deal to go ahead, following the Jersey and the Turkish competition authorities giving their stamps of approval.