Tuesday, December 13, 2011

Visa: The Enemy Is Cash (Video)

The biggest growth opportunity for credit-card companies like Visa?

Plain, old ordinary cash.

Bill Sheedy, who runs the Americas business for Visa, makes the case that the credit-card giant’s biggest opportunity for growth isn’t taking away market share from American Express or Master Card, but instead is cash and checks, which continue to account for north of 80% of the world’s payments. Sheedy sat down with FORBES at the recent Techonomy conference to talk about the future of the payments business – and how the company can extend its reach around the world.

One key to their future growth: using mobile phones for payments in the developing world.

Here’s an edited version of my conversation with Sheedy:

 

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