Visa (V) CEO Charles Scharf Video Interview

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Visa (V) CEO Charles Scharf on the biggest misunderstanding folks have about his business

“When I first got to Visa, the first thing everyone wanted to know in all the town hall meetings I went to was were we a financial services company or were we a technology company.  And the answer is we’re definitely not a financial services company, we have to act like a technology company, but we really are a payments business and they’re fundamentally very different.  We don’t do what financial services company do, most financial services companies are our direct clients.  All issuers are financial services companies.  The payments industry has gone from this extremely boring back office function to a world driven by commerce and digital platforms.”

 

 

Source: Stanford Business School Video Interview https://www.youtube.com/watch?v=mn_qXoelgUM