Visa's Anticompetitive Practices Essay Example | Topics and Well Written Essays - 1250 words

Visas Anticompetitive Practices - Essay representativeThis will help them come up with business tat can be accessed and supported from any berth of the world provided they keep up a chance to register for this type of service. The other objective that they stress to achieve is maintaining and increasing merchant confidence in using the visa cards anywhere in the world. This means that they must get into collaboration with other likeminded companies that will help them achieve these objectives given the go up in cyber crimes and identity theft in the world. Another objective is to reduce operational expenses by trim chargeback and linking authentication to ensure data integrity at all times. They also seek to improve secure security and enhance integrity through the enhancement of security for an internet purchases (Gitman and McDaniel 200858). System Components Before 2007, the construction mainly included of four non-stock companies that had been unified as group members in to the associations overall morphologic component. They included visa international service association, the Visa USA Inc, Visa Canada Association, and visa Europe limited. These were the incorporated members of the group. The others-Visa Latin America (LAC), Visa Asia Pacific and visa central Europe, Middle East and Africa- acted as part of the groups divisions (Modestus 201236). ... It was also a warded a minority stake in the main company which makes it a component of the whole. There were also other companies that acted as underwriters when the company underwent the restructuring and this means that its components would be change magnitude when these underwriters were considered (Schlossberg 2008388). Other components that make up the overall company atomic number 18 the items that form the greater part of the company. As such, debit cards, credit cards and prepaid cards also form the bulk of their company. This is because it is the main tone that keeps them in business. Th ey also deal with automated teller machine networks and point-of-sale terminals for those who deal with debit protocols without the wishing of getting into any check-writing privileges (Szoka & Marcus 2010102). Stakeholders The main stakeholders of this company include the western European operation unit, the merged regional offices the merchants dealing in different sectors and who depend on the service of Visa Inc for their financial proceeding, the shipping sector, brinking sector, airlines and those who have bought shares in the company (Modestus 201249). Risks Despite the fact that people love this new method of transaction, there are risks that are involved in the long run. When people are conducting these transactions, they are not required to be there in person and this means that the probability of getting involved in illegal transactions is high. People have been allowed to transact from the comfort of their homes through the internet and this means that the only thing t he bank relies on for authentication is the phone number or an IP-address. These are aspects that can change suddenly, exposing