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Visa To Evolve Brand To Better Reflect New Payment Opportunities
Payments leader refreshes brand with new brand identity and structure
SAN FRANCISCO, March 15, 2005
Visa International today announced that it plans to update brand framework, which will include a new look for the famous blue, white, and gold Visa logo. The new mark will better reflect the choice of payments Visa offers to Member financial institutions, merchants and cardholders.
"Over the last several years the scope of our business has increased considerably. We were simply a consumer credit card company. Today, debit and prepaid products, commercial payment solutions and processing and authentication services are major components of our business," said Christopher Rodrigues, president and CEO, Visa International. "We need to evolve the way the brand is used to enable consumers and merchants to distinguish between different Visa products and services while continuing to trust Visa to enable them to make efficient secure payments anywhere in the world. We are also taking this opportunity to refresh the look and feel of the brand to ensure it remains up to date and relevant."
The updated brand will work better across new technologies and payment channels, such as the Internet, mobile phones and handheld devices. As well as a refreshed Visa logo on the card and at the point-of-sale, it will allow for a new card format that will complement the issuer's own brand. The well-known Visa dove hologram on the front of the card will be moved to the back and be integrated with the magnetic stripe, making card counterfeiting more difficult while allowing a larger part of the front of the card to be used for new issuer designs or communication.
"The research has proven that cardholders and merchants recognize all of Visa's leading brand equities of acceptance, convenience and security represented in this new mark," said Susanne Lyons, executive vice president and chief marketing officer, Visa USA. "The new logo reflects how the Visa brand is complementary to our Members' brands, and better reflects where they are heading as the payments industry continues to evolve."
With more than one billion cards globally and more than 22 million acceptance locations, Visa is planning a gradual transition to the new look. New brand guidelines will be available to Visa member banks and card manufacturers in June while actual card changes will take place over the next three years to five years. Starting in Fall 2005, banks can issue new cards with the updated design and format. Additionally, at this time, new Visa signage, such as window decals, tent cards, and check presenters will be available for use by merchants. Visa will work with Member banks, merchants, vendor partners and law enforcement agencies to explain the changes.
"This is an evolution of the Visa brand that ensures that it stays relevant, innovative and forward-looking," said David Aaker, a recognized authority on global branding and vice chairman of Prophet. "Every leading brand needs to undergo periodic review. Visa is maintaining its key brand equities while expanding meaning and relevance to embrace its new business opportunities. This change very much underscores the leadership role that Visa provides in the category. This is an outstanding example of creative, innovative brand solutions to an expanding business opportunity."
The brand changes represent 18 months of work, based on research among more than 7,000 consumers, merchants, commercial customers and banks in 16 countries worldwide.
Over the past 30 years, Visa has become one of the world's most trusted brands. In addition to cards, the new Visa mark appears in shop windows, on the Internet, in mail order brochures, on mobile phones, in TV ads, and at major sponsored events worldwide. |
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