MOZI

ISSUE 10

OCT
2019

I N S P I R A T I O N / G L O B A L

F.g 1 "Ashe"
INNOVATION
DEE HOCK
T
o what extent
innovation of Visa
change how people do
transaction?

M
y question is relevant because it is open-ended
where I can answer the problem is the debatable
and argumentative way with many varied
examples. My question shows a specific topic
where I stated I focus on the innovation of Visa on
to the transaction. With only one focus topic, I can
explain it more detail in just one question and not
too broad. It is explainable as I can tell in detail
with many explanations due to its open-ended
question. This question is relevant to my general
topic, which is about one person who can change
the world. With the invention made by Dee, Hock
Visa can change the world, and I think, by the
question is relevant, I can answer the question
and connect it with the topic.
TABLE OF
CONTENT

1 DEE HOCK

2 TRIGGERED HOCK

3 WORLD AND DEE W. HOCK

VISA HISTORY
4

5 BUSINESS GOVERNMENT

6 NEW ERA

7 SIDE EFFECT OF VISA INC.

 PAGE 1

DEE HOCK
After two years working in Public Relations and
Advertising Department, Pacific Finance he started
to find another opportunity to have a better job in
FOUNDER OF VISA 1955 he becomes a General Manager in Columbia
Investment Company, Los Angeles, California.
Dee W Hock is the founder and CEO emeritus Visa, From 1966 to 1970, Dee Hock become the Vice
the United States of America, and Visa International,
President and General Manager, BankAmericard
and now it is known as Visa inc. He was on March 21,
Department, National Bank of Commerce, Seattle
1929, in North Ogden, Utah. From September 1947 to
June 1949, he went to Weber College, Ogden, Utah. Washington, and Chairman of the National
He ended his school after two years at Weber Executive of BankAmericard issuing Banks.
College, which is a community college. Even Though
he lacks formal education, it did not prevent Hock
from “foreseeing the future of financial services,
where he catapulted his bank-card firm, Visa
International, past industry leaders Mastercard and
American Express.

His first career starts when he become a branch

manager of Pacific finance from 1949 to 1955. After
several years of work hard, he is promoted to
become the assistant manager, public relations and
advertising Department, Pacific Finance, Los
Angeles, California, in 1953.

F.g 2 "Social Action DK"

 PAGE 2

TRIGGERED
HOCK
It started in late 1960, the national finance
system called BankAmericard, which is the first
F.g 3"Williem"
credit card, began to compete with a product
from Five Californian banks called MasterCharge
and resulted for BankAmericard on the situation
of catastrophe. Bank of America started to find a
solution by franchising BankAmericard
nationwide, the global bank started to the
issuance, and it exploded. By 1968, the industry
becomes self-destructive with completely
lacking credit controls or systems for the
approvals and clearance of sales drafts between
banks, resulted in the two systems on the edge
of collapse.

Bank of America held a meeting to discuss the

crucial problems that happened for the past few
years. Discussion led to accusations and blaming
and realized that Bank Credit Card was a
misnomer and marketing blunder, that its real
future was a global device for trading
significant value. Hock was shocked by the
chaos inside the meeting and worried that the
NBC program would be overwhelmed by the
system failure. Hock then recommended creating
a national committee formed to evaluate the
issue and long term solution, a day later, Hock
found himself the chairman of an executive
committee to investigate and solve the problem.
 PAGE 3

WORLD AND DEE

W. HOCK

F.g 4 “Digital World Map Overlaid by Stock Market Arrow/Line Charts Indicating
Mixed Results.”

The world starts to change when Dee Hock becomes the CEO of a Visa. A

considerable effort of Hock in the past hectic year, in June 1970, the

BankAmericard system transferred to a new entity National BankAmericard,

Inc, (changed into Visa inc) with Hock as the CEO and President. The new

organization becomes a nonstock, for-profit membership corporation with

ownership in the form of nontransferable rights of participation. The banks

participate in clearinghouse operation, the system that accommodates

everyone and ensures merchants get paid for each purchase, transaction

among banks cleared, and clients get charged. Starting from 1970, Visa has

become the most extensive system for exchanging value and highly

profitable; it operates in around 200 countries, which include 2200 global

banks and 750 million customers. Visa's name and marks have achieved $10

trillion annually and had surpassed MasterCard.

 PAGE 4

VISA
HISTORY

1958 1975 1989 2009 - PRESENT

add neutral network People use Visa for every
BankAmericard - first First time Debit Card was transaction and anywhere
technologies to
credit card program launched
combat card fraud
with a limit of 300 US
dollars.

1970 1983 2004 -2005 BY 2014

launched the first ATM
Visa led by Dee Hock.
provides 24 hours around
the world
Debit is on the rising, and
people began to carry debit
cards everywhere for
everyday use, Visa introduces
Advance Authorization
Visa offers consumers an
easy way to pay online
with just a few clicks on
any device.

1974 1986 2008

Visa went global first payment card system that Visa launched mobile
offers multiple currency clearing payments and value-added
and settlement in 21 currencies.
services.
It evolute from a business tool
becomes an everyday use card.
 PAGE 5

BUSINESS
GOVERNMENT

Visa has helped the country to do business

transactions and partnering with the government
to transform payments with instant integration. Visa
provides links local economies instantly into the
broader global economy, by giving a multi-
currency and multi-language debit, credit and
prepaid issuer processing services to financial
institutions nationwide. Domestic processing
makes it more accessible for people and
businesses to conduct transactions every day
.

International processing, nation, and their citizens

can share a network that provides connectivity to
the economies of 200 other countries and
territories. Visa now use a global payment
technology network which also known as VisaNet,
it benefits people.

Visa debit and prepaid cards are used by

governments around the world to give a variety of
social benefits that provide basic needs such as
food, fuel subsidies, unemployment, disability
assistance, child support, health services, and
educational scholarships.
 PAGE 6

NEW ERA

Visa helps eCommerce to do transactions by
developing a solution that will reshape the
consumer.   Online shopping experience. VisaNet
supports service for consumers to shop at
merchants across borders, and provide secure
     Visa is a card technology that helps people to
do transactions easily worldwide. Visa has
customized by creating a product based on
technology which are providing consumers with
mobile financial services such as mobile

payment choice for all types of eCommerce payments, money transfers, and tops up service.
Visa invented a card that uses a chip technology
transactions which are V.me bu Visa a wallet
and also using a contactless payment technology
service. Visa also helps people to deal with
that enhances transaction security and opens new
personal payments. Transfers can be initiated by
merchant segments where speed of the
ATMs, the Internet, or visiting a bank branch. It
transaction is essential to consumers, such as in
also allows people to control everyday spending
taxis, on mass transit, at fuel pumps or enabling
by opening their mobile phones. In conclusion,
consumers to make point-of-sale purchases by
Visa’s innovation from time to time has help
merely waving a mobile device, card or key fob in
people to do the transaction in different aspects, front of a payment terminal and, quick-service
such as for work and daily life. It has shape people restaurants.
to familiarize ourself with the technology being
used during the era and helps us to deal with
transaction efficiently and more convenient.
 PAGE 6

SIDE EFFECT
OF VISA INC.
In conclusion, every innovation has positive and
people can’t pay their bills. negative impacts. The main positive effects of
Visa Inc to society and change how people do
Making people consumptive transactions are helping the eCommerce to do
deals across their countries, Increasing trade
transactions around the world, helping the
The usage of Visa inc also to define
government to increase tax, helping
the social status government use to the technology era, and
efficient way, and others while the negative
In banks, bills that cannot be pay will impact must be minimized.
increase
WORK CITED

\
MONEY MOTIVATES
NEITHER THE BEST
PEOPLE, NOR THE BEST
IN PEOPLE. IT CAN MOVE
THE BODY AND
INFLUENCE THE MIND,
BUT IT CANNOT TOUCH
THE HEART OR MOVE
THE SPIRIT; THAT IS
RESERVED FOR BELIEF,
PRINCIPLE, AND
MORALITY.

DEE HOCK