|By Business Wire||
|March 6, 2013 10:19 AM EST||
Visa Inc. (NYSE:V), the global payments technology company, today was recognized for leadership in business ethics when it was placed on the 2013 list of the World’s Most Ethical Companies by Ethisphere Institute, a leading international think tank. Visa joins a group of global brands who are dedicated to doing business with world-class ethical practices and promoting ethical business standards.
The Ethisphere Institute is dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. This is the seventh year that the Institute has produced its annual list, and the first time Visa has earned a position on it since becoming a publicly-traded company in 2008.
“Visa is honored to be part of this group of companies who are committed to operating at the highest level of ethics,” said Ellen Richey, Chief Enterprise Risk Officer of Visa Inc. “This recognition reflects the commitment of Visa’s employees worldwide to the highest levels of ethical business practices and trust. Trust is critical to our business of enabling electronic commerce, and that’s what we’ve done for more than 50 years.”
Ethisphere uses a proprietary Ethics Quotient (EQTM) rating system to evaluate companies’ performance in an objective, consistent and standardized way. The EQ framework consists of five core evaluation categories including ethics and compliance program; reputation, leadership and innovation; governance; corporate citizenship and responsibility; and culture of ethics.
“Visa Inc. continues to set the bar within its industry for a number of its ethics programs,” said Alex Brigham, executive director of the Ethisphere Institute. “As more companies each year strive for recognition, Visa Inc. was added to World’s Most Ethical 2013 by demonstrating its strong commitment to ethical practices.”
Visa takes a comprehensive approach to ethical business practice, including industry-leading policies, trainings and programs. For example, Visa’s Code of Business Conduct and Ethics, which applies to all employees and directors, emphasizes that honesty and integrity are of paramount importance in every activity. In addition, Visa’s Corporate Responsibility program is focused on areas where its business expertise and philanthropic contributions can contribute to financial inclusion, humanitarian support, community involvement, and responsible business practices.
View the complete World’s Most Ethical Companies 2013 list here.
About Visa Inc.
Visa 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 24,000 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, ahead of time with prepaid or later with credit products. For more information, visit http://www.corporate.visa.com/.
About the Ethisphere Institute
The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World’s Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification™. The Institute’s premier membership group, the Business Ethics Leadership Alliance™, is a business ethics forum that includes more than 100 leading corporations, universities and institutions that collectively leverage their experience, expertise and innovative ways to address emerging compliance challenges. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com.