Visa Europe is a wholly-owned subsidiary of Visa Inc. (NYSE:V). Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products.

We take corporate governance extremely seriously and recognise that, as a Europe-wide payments business, we are under close scrutiny by a wide range of stakeholders and interested parties. In particular, as an inter-bank payment system recognised by HM Treasury in the UK, and regulated by the Bank of England, under Part 5 of the (UK) Banking Act 2009, we support the stability of the broader UK financial system, other relevant public interest considerations, and the objectives of relevant stakeholders.