Visa, Inc. has been experiencing financial success year over year since its IPO in 2008. Our reputation research also reveals that Visa continually outperforms its competitors like American Express, Mastercard and the financial industry as a whole when it comes to measuring reputation. In fact, Visa’s most recent Pulse score (74.5) is over 5 points higher than the reputation of the financial industry. Any time a company ‘breaks free’ from its industry reputation, you find an interesting brand story.
Investing in Innovation at Visa
Over the last few years, Visa has focused on positioning its brand as the technological innovator in the space through multiple initiatives including new mobile and digital technologies and geographical expansion. A very tangible example of this push was the development of an innovation center within its headquarters in San Francisco in 2013. Since its opening, Visa has developed multiple innovation centers in locations like Dubai, Singapore, Miami and London.
What can we learn from Visa?
Visa has set technological innovation as its ‘north star’ and is pursuing it at every level of the organization in a multi-channel, multi-layer approach. [ More Lessons from Visa ]
“A distinction to be made here is that while Visa’s innovation strategy is delivering reputation value – for other companies, innovation might not be the agenda-setting issue that works for them. So identifying the appropriate “critical north star” here is the key. For Starbucks, it’s the idea of “human connectedness”; for DuPont, “food sustainability”; and so the challenge for many companies is how to convert discrete programs and initiatives into a single platform that is meaningful and makes a real difference socially, financially, and organizationally.”
~ Nicky McHugh, Visa Research Brief Author
Vice President Consulting, Reputation Institute Cambridge
Get the Reputation Research
Access the full research brief, “Visa, Inc. – Why It’s Charging Ahead,” for more data, insights and lessons from Visa.