Market Overview

Visa Invests in Behalf to Support Small Business Financing

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  • Behalf to allow SMBs to pay its merchant partners with Visa virtual
    cards
  • Investment is part of Visa's $100M FinTech investment program

Visa (NYSE:V) today announced an investment and partnership with
Israeli start-up, Behalf, to support small business growth through
easy-to-access capital and financing. Behalf provides working capital
solutions for small businesses and flexible financing for business
purchases.

As part of Visa's investment in Behalf, Visa will offer Behalf's
small-business clients a tokenized Visa Virtual Card, a credit-based
payment solution that gives businesses instant financing for their
business purchases. The Visa Virtual Card will initially be offered in
the United States, with a plan to expand to other markets in the coming
months.

This partnership supports Visa's global strategy to extend its products
and capabilities to small businesses through collaborations with
start-ups and FinTechs that help redefine and enhance the payments
experience. It is also part of Visa's commitment to invest up to $100M
in FinTechs, as announced in June 2018, by Visa's CEO, Europe, Charlotte
Hogg, at the Money 20/20 conference in Amsterdam.

"Behalf has demonstrated a commitment to expanding the purchasing power
of small businesses by using digital payments to offer faster, more
convenient and secure experiences," said David Simon, global head of
small business and medium enterprises for Visa. "This partnership is
another great example of how Visa partners with FinTech companies to
help improve digital experiences and bring new solutions to market in
order to overcome common small business challenges."

"The Behalf platform offers affordable, on-demand purchase financing.
Our network of B2B merchants can fit Behalf seamlessly into their
eCommerce flow, receive payment immediately and provide their business
customers with more buying power and flexible payment options at
checkout," said Benjy Feinberg, Behalf's chief executive officer. "We
are proud to partner with Visa with the goal of making purchases easier.
I'm excited by the opportunities ahead."

Shahar Friedman, acting general manager for Visa in Israel, said: "Small
businesses are the backbone of the global economy, and Visa is committed
to enabling new payment experiences for these important customers. This
partnership is a result of a close collaboration between the Visa
Innovation Studio Tel Aviv and the dynamic Israeli start-up ecosystem to
bring the power of the VisaNet global network to promising young
companies in Israel such as Behalf."

Behalf is the first investment made by Visa in an Israeli company. It
follows the Spring 2018 launch of the Visa Innovation Studio in Tel Aviv.

For an additional look into how small businesses are operating in
today's era of digital commerce, Visa and a consortium of key industry
organizations recently released Digital
Transformations of SMBs: The Future of Commerce
, a first-of-its-kind
look at the opportunities and challenges small and medium size business
(SMBs) owners face in an increasingly digital world.

About Visa Inc.

Visa Inc. (NYSE:V) is the world's leader in digital payments. Our
mission is to connect the world through the most innovative, reliable
and secure payment network - enabling individuals, businesses and
economies to thrive. Our advanced global processing network, VisaNet,
provides secure and reliable payments around the world, and is capable
of handling more than 65,000 transaction messages a second. The
company's relentless focus on innovation is a catalyst for the rapid
growth of connected commerce on any device, and a driving force behind
the dream of a cashless future for everyone, everywhere. As the world
moves from analogue to digital, Visa is applying our brand, products,
people, network and scale to reshape the future of commerce. For more
information, visit (www.visaeurope.com),
the Visa Vision blog (vision.visaeurope.com),
and @VisaInEurope.

About Behalf

Founded in 2012, Behalf is a financing provider that facilitates
commerce between business to business merchants and their business
customers. Driven by data and technology, Behalf allows merchant
partners to offer business customers instant credit and flexible payment
terms at the point of sale. Once qualified, Behalf customers can use
their credit facility to fund purchases with virtually any merchant.

Behalf has offices in Tel Aviv and New York City. Behalf has been
recognized as a "Rising Star" among Deloitte's Technology Fast 50, was
named "Best Online Business Lender" at the 2016 Tradestreaming Awards
and was chosen as one of the 10 Best Tech Startups in NYC in 2019 by
TheTechTribune. For more information on how Behalf is transforming the
way businesses buy and sell, visit www.behalf.com.

This article contains forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995 that relate
to, among other things, Visa's future operations, prospects,
developments, strategies, business growth. Forward-looking statements
generally are identified by words such as "believes," "estimates,"
"expects," "intends," "may," "projects," "could," "should," "will,"
"continue" and other similar expressions. All statements other than
statements of historical fact could be forward-looking statements, which
speak only as of the date they are made, are not guarantees of future
performance and are subject to certain risks, uncertainties and other
factors, many of which are beyond our control and are difficult to
predict. We describe risks and uncertainties that could cause actual
results to differ materially from those expressed in, or implied by, any
of these forward-looking statements in our filings with the SEC. Except
as required by law, we do not intend to update or revise any
forward-looking statements as a result of new information, future events
or otherwise.

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