( BW)(CA-VISA)(V) Visa to Improve Payment Experience for Commuters in
Los Angeles and Paris; Working with Transit Operators to Enable Visa
Payment at the Fare Gate; No More Fumbling for Cash; Transit
Operators in the World's Most Populous Areas and Visa Are
Collaborating to Take the Hassle out of Payment for Mass Transit
Commuters

    Business Editors

    PARIS & SAN FRANCISCO--(BUSINESS WIRE)--Nov. 4, 2008--Visa Inc.
(NYSE:V) today announced it is working with the Los Angeles transit
authority to allow train, subway and bus riders to speed through
turnstiles and past fare boxes with a simple wave of their Visa
payWave-enabled contactless card. In parallel, Visa Europe(1) has
announced it is collaborating with the Regie Autonome des Transports
Parisiens (RATP), the major transit operator responsible for public
transportation in Paris and its surroundings, to demonstrate that Visa
payWave acceptance at a Paris metro fare gate is technically feasible.

    Both initiatives are using Visa payWave technology, based on a
tiny chip embedded in a payment card that communicates securely with
contactless card readers over a very short distance. This means that
riders can eliminate the time-consuming step of paying for a ticket at
a separate machine or searching for cash - the transaction is
completed on Visa's global processing network, VisaNet. Visa payWave
technology adds an extra layer of security to the transaction by
attaching a unique code to each transaction, reducing the chance of
fraud.

    "Extending secure, convenient and reliable Visa payments to
subways, trains and buses is a great example of how Visa innovations
like Visa payWave can dramatically improve the experience for millions
of commuters," said Tim Attinger, head of product innovation and
development at Visa Inc. "By working with our transit partners in Los
Angeles, New York and New Jersey, we hope to free busy transit riders
from the burden of fumbling for change or searching for paper tickets.
At the same time, transit operators can potentially reduce cash
handling costs and ticket distribution, letting them focus on their
core business of getting people where they need to go."

    Los Angeles pilot

    In Los Angeles, Visa is working with the LA Metro system to offer
special Visa payWave cards that also incorporate the transit system's
"TAP" fare application. These dual-use, prepaid Visa cards will let
riders pay their fares and purchase fare products using their Visa
account, while also allowing cardholders to make purchases anywhere
Visa debit is accepted.

    Two types of cards will be available through the pilot:

    --  Ride, pay and reload cards - sold through automated
        ReadySTATION kiosks within the LA Metro system, these cards
        will be active and ready to use immediately for both transit
        fares and Visa purchases everywhere Visa debit is accepted.
        Riders will be able to add up to $500 in value at the kiosks.

    --  Ride, pay, reload and ATM cash access cards - these are
        personalized cards with a maximum value limit of $10,000 which
        are ordered online or over the phone. Beyond a larger value
        limit the personalized cards have the added feature of a
        Personal Identification Number (PIN) for obtaining cash at
        ATMs. It will also function as a standard Visa prepaid card
        for purchases outside the transit system. In addition,
        cardholders will be eligible for free direct deposit of their
        paychecks directly to the Visa prepaid card account, providing
        added convenience and security over payment alternatives like
        checks and cash, for those riders without traditional banking
        relationships.

    "Combining TAP and Visa payWave on a single contactless card is a
great idea and delivers convenience and speed at bus fare boxes and
rail station validators for LA transit riders," said Roger Snoble,
Chief Executive Officer, at the Los Angeles County Metropolitan
Transportation Authority. "It also provides commuters with an easy way
to reload and manage their LA transit accounts, while providing them
with a Visa prepaid card that is accepted at any Visa debit acceptance
location or ATM."

    Paris Proof-of-Concept Pilot

    Visa Europe is collaborating with RATP to evaluate the concept of
Visa payWave acceptance directly at the fare gate. As part of this
ongoing activity, the Visa exhibit at the annual CARTES conference,
taking place in Paris this week, will feature an RATP gate set up to
accept Visa payWave cards. The gate demonstrates that it is
technically feasible for the existing Paris Metro gates to accept Visa
payWave cards while continuing to accept Navigo, the local closed-loop
card in use today. The system also demonstrated how Visa payWave cards
can fulfill the special business and ticketing requirements of the
Paris Metro. Visa's next step in this initiative is to expand the
trial toward enabling Visa card acceptance at Paris metro fare gates.

    "This is an important milestone," said Sandra Alzetta, Senior Vice
President Head of Innovation at Visa Europe. "The Paris Metro system
is one of the most technically sophisticated transit environments in
the world and we have demonstrated that Visa payWave can indeed
integrate with the existing gate system. Our solution proves that Visa
payWave cards can provide additional features required by RATP such as
the ability for an inspector to determine if a cardholder has paid for
their journey and for the gates to track a cardholder's journey
through the system to ensure they are charged the optimal fare."

    Visa's Transit Strategy

    Every day millions of people around the world use public transit -
commuting to work, going to shop, or visiting friends and family. For
transit riders, speed and convenience are major factors, including
when it comes to paying their fares. And for transit system operators,
collecting fares and managing the payment and accounting systems can
be costly and challenging.

    The Los Angeles and Paris metro pilots are the latest transit
programs that put Visa at the forefront of merging electronic payments
technology with the fare collection needs of transit agencies around
the world.

    Visa's global transit strategy supports a range of solutions that
can be tailored to the needs of local transit systems and increase the
integration between transit and Visa payment. The solutions range from
using Visa products to pay for existing transit fare media, to
dual-use cards combining the advantages of Visa payWave with
proprietary transit applications, to a completely integrated solution
where Visa payWave-enabled cards and devices are accepted as the fare
media at the gate, reducing the operator's need to issue proprietary
media.

    Visa Transit Around the World

    In addition to the US and French pilot programs, Visa's transit
strategy has been at work around the world, supporting both commercial
and pilot programs, making travel easier for riders and fare
collections more efficient for operators in Europe and Asia.

    Visa Inc. Transit Pilots in Asia

    Korea: Almost a quarter of all Visa cards in Korea, from 18
issuers, now support various domestic transit applications. These Visa
cardholders can use the same card to ride transit they use to pay in
the shops. In a world first and in partnership with T-Money provider
KSCC (Korea Smart Card Company), card issuer Shinhan Bank and Korea
Telecom Freetel (KTF), Visa has made it possible for commuters to use
their Visa account to top up their T-Money balances automatically on
the phone's SIM card when it falls below a certain level. By
conducting the entire transaction automatically over the mobile
network, commuters are freed from the inconvenience of waiting in line
at transit kiosks or other agents to top up their transit account.

    Kuala Lumpur: Domestic Visa contactless cards are accepted at the
fare gate to board the express train from Kuala Lumpur International
Airport (KLIA) to the central bus station. Riders don't need to stop
to buy a ticket, nor do they require a special transit enabled Visa
card, they just use the contactless card provided by their issuers and
they ride hassle-free.

    Hong Kong and India: Visa, working with Citibank, has recently
been chosen as the exclusive payment partner to support the local
transit applications on local cards for key transit programs in Hong
Kong and Delhi.

    Visa Europe Transit Programs

    Turkey: Visa Europe and DenizBank in Turkey introduced Visa
payWave acceptance at Istanbul ferry gates in partnership with IDO
(Istanbul's Fast Ferries Co. Inc). Now, any Visa payWave cardholder
from Turkey or abroad can simply wave their standard Visa payWave card
over the gate reader and pay for their journey, just like any other
Visa payWave transaction. DenizBank also launched a special co-branded
IDO Sea Miles card that rewards ferry travelers with miles for their
journeys that can be redeemed for free ferry travel.

    UK: In the UK, a multifunction Barclaycard Visa credit card
features Visa payWave for payment and a contactless Oyster smartcard
application enabling cardholders to use the same card to make low
value purchases and to travel throughout London on the public
transport network. Visa Europe is also actively collaborating with
Transport for London to define how Visa payWave cards might be
accepted directly at the fare gate in the London transport network.
Visa's stand at the annual Cartes 2008 features a demonstration
simulating the London Underground network showing how TfL's business
and ticketing rules could be implemented using Visa payWave cards.

    Through these efforts, transit agencies can streamline their
transit operations, as well as potentially decrease their investment
in custom built fare systems, cash handling costs and fare card life
cycle costs. The use of Visa payWave cards as fare payment media, may
also lead to a decrease in the number of customer service issues and
costs related to traditional fare cards issued by transit agencies.

    (1) Visa Europe is a separate entity that is an exclusive licensee
of Visa Inc.'s trademarks and technology in the European region

    About Visa Inc.

    Visa Inc. operates the world's largest retail electronic payments
network providing processing services and payment product platforms.
This includes consumer credit, debit, prepaid and commercial payments,
which are offered under the Visa, Visa Electron, Interlink and PLUS
brands. Visa enjoys unsurpassed acceptance around the world, and
Visa/PLUS is one of the world's largest global ATM networks, offering
cash access in local currency in more than 170 countries. For more
information, visit www.corporate.visa.com.

    About Visa Europe

    In Europe, there are over 360 million Visa debit, credit and
commercial cards. In the 12 months ending June 2008, those cards were
used to make purchases and cash withdrawals to the value of over EUR
1.3 trillion. 11.4% of consumer spending at point of sale in Europe is
with a Visa card.

    Visa Europe is owned and operated by its 4,600 European member
banks and was incorporated in July 2004. In October 2007, Visa Europe
became independent of the new global Visa Inc., with an exclusive,
irrevocable and perpetual licence in Europe. For more information,
visit www.visaeurope.com.

    About Los Angeles County Metropolitan Transportation Authority

    LACMTA serves as transportation planner, coordinator, designer,
builder and operator for one of the country's largest, most populous
counties. More than 9 million people - one-third of California's
residents - live, work, and play within its 1,433-square-mile service
area. Besides operating over 2,000 peak-hour buses on an average
weekday, LACMTA also designed, built and now operates 73.1 miles of
Metro Rail service. As of September 2008, the average monthly
boardings for LACMTA's bus fleet was approximately 32.5 million, and
its average monthly rail boardings was approximately 8.7 million. See
http://www.metro.net/news_info/ridership_avg.htm.

    About Regie Autonome des Transports Parisiens (RATP)

    RATP is the leading French urban transport operator, and is
reputed to be the first in the world among 'multimodal' urban
transport operators. Every year it carries more than two and a half
billion passengers. In the Ile de France region, it operates metro,
buses, regional railways and trams. It manages more than 450 stations
and 8000 bus and tram stops. RATP's networks are growing both with
traditional and innovative modes. Its annual turnover is more than 3
billion Euros. www.ratp.fr

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    CONTACT: Visa Inc.
             Elvira Swanson, +1-415-932-2564
             globalmedia@visa.com
             or
             Visa Europe:
             Lorraine Pitt, +44-0207-795-5291
             pittl@visa.com
             or
             LACMTA:
             Jane Matsumoto, +1-213-922-3045
             or
             Fran Curbello, +1-213-922-5608