May 21, 2008

Visa Inc. is adding the Visa Meetings Card to its suite of commercial payment solutions. Through an alliance with Arcaneo, a meetings technology provider, the credit card's transaction data will be integrated into Arcaneo's Metron meetings management system. This will provide midsize, large and multinational companies with the information necessary to manage meeting expenses more efficiently. In unveiling the new product, Visa cited research by the Aberdeen Group indicating that companies spent, on average, nearly 3 percent of their annual revenues on meetings-related expenses in 2007. In Aberdeen's study, corporate expense managers ranked meeting credit cards as the most cost-effective method for managing events and their related expenses.