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Visa to Make Operating Regs Public |
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Visa Inc. has announced that it will for the first time make its Visa International and Regional Operating Regulations available publicly, effective May 15, 2008.
According to Visa, the Operating Regulations will be available on Visa's corporate website at http://www.corporate.visa.com. The public version of the rules will not include proprietary and competitive information, or certain details from the rules relating to the security of the network.
"As Visa continues to evolve to meet the needs of customers, we are committed to providing our partners and interested parties with greater insight into Visa's operations," explained Joseph W. Saunders, Chairman and CEO, Visa Inc. "Greater transparency is one of the ways we hope to strengthen our working relationships in the marketplace."
Previously, Visa Inc. made its Visa USA Operating Regulations available to merchants and third party agents under a non-disclosure agreement. On May 15, Visa's rules will be publicly available to interested parties, including all Visa rules related to merchants' participation in the system.
"Today's announcement builds on our commitment to making Visa transparent in an increasingly competitive environment," added Saunders. "While our operating regulations only govern our client financial institutions, we believe that merchants and others will benefit from access to the rules, which provide a greater understanding of the complexities of electronic payments."
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