SAN FRANCISCO, Sept. 14, 2011 /PRNewswire via COMTEX/ --
Visa Inc. (NYSE:V) and the United States Hispanic Chamber of Commerce (USHCC) today announced a three-year extension of their partnership that provides Hispanic-owned merchants with customized access to Visa's suite of small business solutions, including an array of tools to help them improve cash flow, manage payment acceptance costs, streamline operations and grow their businesses.
The extension builds on the partnership's success to date, with Hispanic-owned merchants throughout the U.S. actively taking advantage of Visa's tools and educational resources that enable this fast-growing sector of the U.S. economy to grow even more.
To mark this partnership renewal, Visa has become a primary sponsor of the 2011 USHCC Convention & Business Expo, the largest gathering of Hispanic business leaders in the U.S., to be held September 18-21 in Miami Beach, FL.
"We are delighted to continue and grow our partnership with Visa, the global benchmark in card acceptance and strategic ally for our organization, our members and all small businesses," said Javier Palomarez, President and CEO of the U. S. Hispanic Chamber of Commerce. "Visa understands the power of the Hispanic entrepreneur, and is investing wisely in the infrastructure of local chambers that support this engine of economic recovery in American communities," added Palomarez.
Hispanic-owned firms are an increasingly vital source of jobs and economic growth in the U.S. Their numbers grew by nearly 44 percent between 2002 and 2007, to 2.3 million. That was more than double the national growth rate of 18 percent, according to the U.S. Census Bureau. During this same period, Hispanic-owned firms far outpaced the growth of non-minority-owned firms in terms of gross receipts as well as number of employees and firms.(1)
Visa remains focused on expanding the acceptance of Visa's diverse suite of credit and debit products by Hispanic-owned merchants. Accepting Visa provides numerous benefits, including guaranteed payment, the potential for increased sales, enhanced record keeping and faster checkout times.
Visa's partnership with the USHCC provides the tools and opportunities to help small businesses grow. The resources include:
The USHCC and Visa will also continue to work together to develop acceptance solutions for USHCC merchants to ensure that they have access to best-available interchange rates.
"Hispanic-owned businesses are important contributors to the health and growth of our economy, and Visa is proud to be a strong USHCC partner in the effort to help ensure that these small businesses have every opportunity to succeed," said William M. Sheedy, Group President, Americas, Visa Inc. "By extending the benefits of digital currency to their members, we look forward to continuing our successful relationship with the USHCC - a leading voice for millions of Hispanic business owners throughout the country."
More information about the Visa/USHCC partnership can be found at: www.ushcc.com/visa.
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 digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed 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 www.corporate.visa.com.
About the United States Hispanic Chamber of Commerce
Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of nearly 3 million Hispanic-owned businesses in the United States that combined generate in excess of $400 billion annually. It also serves as the umbrella organization for more than 200 local Hispanic chambers in the United States and Puerto Rico. For more information, visit www.ushcc.com.
About the 32nd Annual National Convention & Business Expo
The 32nd Annual National Convention & Business Expo is the largest gathering of Hispanic business leaders in America. Join the USHCC, Fortune 500 companies, Hispanic Business Enterprises (HBEs) and local Chambers of Commerce in Miami to connect, strategize and grow. The National Convention takes place September 18th - 21st at the Fontainebleau Hotel in Miami Beach. For more information about the Convention, please visit www.ushcc.com/convention.
(1) MBDA & U.S. Census Bureau: www.mbda.gov/pressroom/press-releases/commerce-department-report-shows-hispanic-owned-businesses-are-growing-creating-jobs
SOURCE Visa Inc.