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Visa Personal Payments: Overview

Visa Personal Payments: Overview. What is it? A “transaction railroad” that supports delivery of funds to a Visa account issued by any of 10,000+ financial institutions worldwide Benefits: Global reach Authorization system Potential for real-time funds availability

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Visa Personal Payments: Overview

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  1. Visa Personal Payments: Overview • What is it? A “transaction railroad” that supports delivery of funds to a Visa account issued by any of 10,000+ financial institutions worldwide • Benefits: • Global reach • Authorization system • Potential for real-time funds availability • Risk management tools inherent with VisaNet

  2. Visa Personal Payment Solution Channel Source of Funds Transaction Destination of Funds Defined by Originator / MTO Core Visa Capability Bank Branch / Agent Bank Account Visa Debit • Visa Account • Credit • Debit • Prepaid1 Mobile Recipient Visa Issuer Originator Original Credit Transaction (OCT) Visa Prepaid Internet [$2,500 txn limit2] Cash Other > 1 Billion Other • Only personalized, reloadable prepaid cards can receive OCTs • Certain non-U.S. domestic country limits may be higher

  3. Compliance Considerations Visa can provide US originator with information to meet some of the disclosure requirements to senders • Originator Fees: By definition, originator has this information • Exchange Rate: US originator can submit OCT to VisaNet in recipient card currency (e.g., send 10,000 MXP to Mexican-issued Visa card). Recipient issuer will post same amount to recipient account • Recipient Bank Fees: Visa considering rule to prohibit Visa issuers from assessing incremental fee for receiving OCTs and posting funds to recipient accounts • Recipient Jurisdiction Taxes: Visa does not have access to this information • Transaction Cancellation: Originator can hold transaction for 30 minutes before submitting to VisaNet, effectively giving sender 30 minutes to cancel request before transaction is processed

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