Consumer discretionary

Visa Inc (V) To Open New Silicon Valley Office

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Visa shows its intentions of expanding its innovative and development team

Visa Inc (NYSE:V) announced its plans to open a new office in the technology city, Silicon Valley, in order to accelerate its digital commerce, according to the press release. Much has been spoken about Visa and MasterCard investing in technology and acquisitions to keep up their pace for dominance in the market.

The new office will be a 62,000 square foot facility, which will employ around 300 Visa employees located in Palo Alto. Palo Alto is one of the new facilities Visa opened last year which also included new innovative centres in Miami, Dubai, Bangalore, and Singapore. The offices in Silicon Valley will focus on business intelligence, technology research, data security and merchant solutions.

Executive vice president of Technology, Rajat Taneja, said in a statement, “We continue to expand our research and development capabilities globally and are investing in facilities that enable our teams to collaborate in the creation of digital commerce solutions. Our new Palo Alto office allows us to draw on the diversity of the Bay Area talent pool and build an even stronger connection with the Silicon Valley community of data scientists, engineers, entrepreneurs.”

Recently, Visa announced its friendship with new partner PayPal Holdings Plc, over putting aside the differences and helping out each other in faster payments for the clients. We believe Visa intends to partner with future technology companies in order to benefit itself. Its rival, MasterCard recently acquired VocaLink Holdings for 700 million pounds to access much of the market in the UK. VocaLInk processes majority of the Britons’ household bills and salaries. Moreover, MasterCard also seeks the license to operate in the world’s second largest economy, China.

It is important to note that Visa was recently named in LinkedIn’s top attractors’ list. Visa also has a reputation in innovation as it was named amongst the most innovative companies on Forbes.

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