This presentation is furnished to you solely in your capacity as a customer of Visa International and participant in the Visa payments

system. By accepting this presentation, you acknowledge that the information contained herein (the Information) is confidential and subject to the confidentiality restrictions contained in Visas operating regulations, which limit your use of the Information. You agree to keep the Information confidential and not to use the Information for any purpose other than in your capacity as a customer of Visa International or as a participant in the Visa payments system. The Information may only be disseminated within your organization on a need-to-know basis to enable your participation in the Visa payments system. Please be advised that the Information may constitute material nonpublic information under U.S. federal securities laws and that purchasing or selling securities of Visa Inc. while being aware of material nonpublic information would constitute a violation of applicable U.S. federal securities laws.

For Visa Bank Use Only

How Visa Money Transfer (VMT) works

For Visa Bank Use Only

How Visa Money Transfer works

Sender
Source of Funds Account Funding Transaction (AFT) *

Originating Member
Members VMT service (Branch, Internet, ATM, Phone, Mobile)

Recipient
Destination of Funds

Off-Us issuing Bank

Visa Card

Money Transfer Transaction Files

Originating Bank Internal Transaction Files

Off-Us Card Instruction

Acquirers Card Host and VAP

On-Us Card

Bank Account Original Credit Transaction (OCT)

Cash *AFT only required when OC is funded by a not on-us Visa card
Money Transfer in CEMEA | February 2008 For Visa Bank Use Only Information Classification as Needed

Recipient Bank

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Common set of controls

VMT BUILT ON EXISTING VISA INFRASTRUCTURE
Originating Bank (Registered Visa Bank)

OC Transaction

Recipient Bank (Any Visa Bank)

Sender

Funds are exchanged only between trusted banking entities

Recipient

Original Credits sent only by a registered Visa Bank Banks are assessed for compliance with Visa AML policy (based on US Patriot Act) Originating Bank must comply with domestic laws and regulations Value cap = $2,500 per transaction

OC received only by a Visa Bank Banks are assessed for compliance with Visa AML policy (based on US Patriot Act) Recipient Bank must comply with domestic laws and regulations Funds can be received only into a valid Visa account (KYC)

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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Legal and regulatory considerations

1. 2. Banks must comply with local and international regulatory requirements Sending and recipient Banks must implement following procedures: 3. AML (Anti-Money Laundering) KYC (Know Your Customer) transaction monitoring data handling and security

VMT requirements: Maximum transaction limit for cross-border transfer is USD $2,500 per transaction Maximum cash to card transaction at ATM is USD 500 Senders data must be included into the Original Credit (VMT Transaction)

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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VMT Operating Requirement

Originating client must register with Visa for VMT Banks must comply with Visas AML Compliance Programme and Risk Monitoring Regulations Visa operating regulations take into account international policy on anti-money laundering and terrorist financing Associate banks must be AML compliant in addition to sponsor bank

Recipient Client (Issuers) must accept OCs, except where prohibited by local law Recipient Client (Issuers) must post OCs within 2 business days OC pre-settlement message is optional OC transactions must include senders data different rules apply for domestic and international transfers

Originating banks may submit foreign currency money transfer OC transactions into VisaNet for processing Banks must report VMT volumes When funding the transaction from off us card, ownership of the funding card must be validated Registration program must be implemented when offer this service to off-us customer to ensure proper KYC and AML is conducted.
For Visa Bank Use Only Information Classification as Needed 6 Presentation Identifier.6

Money Transfer in CEMEA | February 2008

Pricing

For Visa Bank Use Only

AFT Money Transfer Fee flows

SENDER
Consumer Fee (at discretion of Service Provider)

Member B FUNDING Issuer

AFT* disbursement fee $0.49

Member A Originating Member

AFT ACCOUNT FUNDING TRANSACTION IS USED TO COLLECT FUNDS FROM THE SENDERS VISA CARD DOMESTIC AFT FEE PAID TO FUNDING ISSUING BANK IS USD 0.49 CENTS FOR ALL PRODUCTS INTER & INTRA REGIONAL (INTERNATIONAL) AFT FEE PAID TO FUNDING ISSUING BANK IS THE PRODUCT INTERCHANGE RATE REGISTRATION PROCESS IS REQUIRES TO VAILDATE THE ONWERSHIP OF THE CARD USED IN THE FUNDIND THE TRANSACTION

AFT: acquirer Base II fee $0.0061 + 0.025% AFT Domestic Transfer Fee

VISA CEMEA

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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OC Money Transfer Fee flows Domestic/ International

SENDER
Consumer Fee (at discretion of Service Provider)

Member A Originating Bank

Domestic OC: Base II/SMS fee $0.0061+ 0.025% OC domestic processing fee International OC: Base II/SMS fee $0.046 + ($0.70+0.2%) OC international processing fee

$0.49 OC interchange fee

Member C RECEIVING Issuer*

VISA CEMEA
Money Transfer in CEMEA | February 2008 For Visa Bank Use Only Information Classification as Needed 9 Presentation Identifier.9

VMT cost to Originating Bank

Objective: domestic tnx costs less then 1% Objective: international tnx costs less then 3%
Domestic VMT (both AFT and OC are domestic) Fees (US$) AFT dom, No AFT, OC dom OC dom dom AFT, No OC
International VMT (either OC or AFT are international) AFT dom, AFT int, Fees (US$) OC int OC int OC int fee $0.70 OC int fee 0.20% OC dom fee 0.025% AFTdom fee 0.025% OC IRF $0.49 AFT IRF $0.49 AFT Base II/ SMS domestic Acquirer OC Base II/ SMS domestic Acquirer AFT Base II/SMS international Acquirer OC Base II/SMS international Acquirer Total costs (ATV $250) Fixed costs, $ Service fee at 3% (ATV $150) Service fee at 3.5% (ATV $150) Costs as % of transfer (ATV $150) 0.70 0.00200 0.00025 0.00025 0.49 0.49 0.0061 0.0061 0.0460 0.0460 0.70 0.50 0.063 0.49 0.49 0.0061 0.70 0.50 0.063 0.49 0.49 0.49 0.49 0.0061 0.0460 3.60 1.04 7.5 8.8 1.4% 1.070 1.095 1.120 1.145 1.170 1.220 1.282 1.407 1.532 1.657 0.71% 0.44% 0.32% 0.25% 0.21% 0.16% 0.13% 0.09% 0.08% 0.07% 0.0460 1.74 1.24 7.5 8.8 0.7% 1.536 1.736 1.936 2.136 2.336 2.736 3.236 4.236 5.236 6.236 1.02% 0.69% 0.55% 0.47% 0.42% 0.36% 0.32% 0.28% 0.26% 0.25% 0.49 0.49 AFT int, OC dom No AFT, OC int 0.70 0.50 No OC, int AFT

OC dom fee 0.025% AFTdom fee 0.025% OC IRF $0.49 AFT IRF $0.49 AFT Base II/ SMS domestic Acquirer OC Base II/ SMS domestic Acquirer Total costs (ATV $120) Fixed costs, $ Service fee at 1% (ATV $120) Service fee at 1.5% (ATV $120) Costs as % of transfer (ATV $120)

0.030 0.030 0.030 0.49 0.49 0.49 0.0061 0.0061 0.0061 1.052 0.526 0.992 0.496 120 1.2 1.2 120 1.8 1.8 120 0.88% 0.44% $ cost of transfer Ticket size, $ 50 1.017 0.509 80 1.032 0.516 100 1.042 0.521 120 1.052 0.526 150 1.067 0.534 200 1.092 0.546 250 1.117 0.559 350 1.167 0.584 450 1.217 0.609 550 1.267 0.634 Ticket size, $ As % of transfer 50 2.03% 1.02% 80 1.29% 0.65% 100 1.04% 0.52% 120 0.88% 0.44% 150 0.71% 0.36% 200 0.55% 0.27% 250 0.45% 0.22% 350 0.33% 0.17% 450 0.27% 0.14% 500 0.23% 0.12%

0.00025 0.00025 0.49 0.49 0.0061 0.0061

0.030 0.49 0.0061 0.526 0.496 1.2 1.8 0.44% 0.509 0.516 0.521 0.526 0.534 0.546 0.559 0.584 0.609 0.634 1.02% 0.65% 0.52% 0.44% 0.36% 0.27% 0.22% 0.17% 0.14% 0.12%

Ticket size, $

150 250 350 450 550 750 1,000 1,500 2,000 2,500
Ticket size, $

150 250 350 450 550 750 1,000 1,500 2,000 2,500

0.0460 0.0460 0.0460 2.29 4.78 1.73 1.78 7.5 7.5 8.8 8.8 0.9% 1.9% $ cost of transfer 2.070 2.072 2.295 2.272 2.520 2.472 2.745 2.672 2.970 2.872 3.420 3.272 3.982 3.772 5.107 4.772 6.232 5.772 7.357 6.772 As % of transfer 1.38% 1.38% 0.92% 0.91% 0.72% 0.71% 0.61% 0.59% 0.54% 0.52% 0.46% 0.44% 0.40% 0.38% 0.34% 0.32% 0.31% 0.29% 0.29% 0.27%

0.0460 3.05 0.55 7.5 8.8 1.2% 0.536 0.536 0.536 0.536 0.536 0.536 0.536 0.536 0.536 0.536 0.36% 0.21% 0.15% 0.12% 0.10% 0.07% 0.05% 0.04% 0.03% 0.02%

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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VMT Fees
Consumer Pricing The Originating Member may charge a service fee to the consumer at their discretion. Any service fee must be clearly disclosed to the consumer at the point of transfer and printed on the transaction receipt. The customer must approve to the service fee and be given an opportunity to cancel the transaction without incurring additional charges. Member Fees An Original Credit (OC) rate of $0.49 (reference: VIOR Sec. 8.3B) is payable by the Originating Member to the Recipient Member. A CEMEA Account Funding Transaction (AFT) $0.49 (reference: CEMEA ML 40/05) disbursement fee is payable by the Originating Member to the senders Issuing Bank for any Visa Money Transfer service Account Funding Transactions. A Inter- regional Account Funding Transaction (AFT) will the prevailing product IRF will apply as member fee. Visa Fees Standard processing fees are payable to Visa by the Originating, Funding and Beneficiary banks. VMT Registration fee The Originating Member pays a one-off USD $2,000 Registration Fee to Visa for VMT service registration. VMT Domestic Transfer Fee Domestic Original Credit transactions incur a domestic transfer fee of 0.025%, payable by the Originating Member to Visa for every domestic OC transaction. Domestic Account Funding Transactions incur a Domestic Transfer fee of 0.025%, payable by the Originating Member to Visa for every domestic AFT transaction. VMT Cross-Border Transaction Fee Original Credits are exempt from the International Service Assessment (ISA) fee that is applied to cross-border transactions. Instead, a USD $0.70 plus 0.2% OC international processing fee is payable by the Originating Member to Visa for every international OC transaction.

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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Service requirements

For Visa Bank Use Only

Developing your existing infrastructure

Money Transfer transactions require: pull - a debit transaction (Account Funding Transaction AFT) push - a credit transaction (Original Credit OC) Banks develop their own customer-facing interface to their host system: in-branch POS ATM Internet telephone mobile All services must comply with Know Your Customer (KYC) and anti-money laundering (AML) requirements

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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Visa Money Transfer: the component parts

Originating member Consumer interface / access channel Funding options Service requirements
customer database AML module communication ATM/ADM / in-branch POS Internet / phone / mobile Cash / bank account / card

Acquirer host

VAP

- Member-built/TTP

Transaction processing

AFT OC

Receiving member

Receiving/Funding options

Visa card

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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Participation and access channels

Participation
any Visa bank, whether issuer or acquirer, can offer VMT service a bank wishing to offer VMT services must register with Visa by completing the relevant Service Request Form a bank without an acquiring license will need to complete an Issuer Registration Form an Associate bank must register separately from their sponsor and must demonstrate their AML compliance an Associate bank must use their own BIN(s) to provide VMT service

Access channels
In-branch POS Originating bank must use SMS system (Base I/Base II systems allowed with approval from Visa) ATM/ADM terminals Originating bank must use SMS system Can use BaseI/Base II when the Originating bank is currently a dual message ATM acquirer (subject to Visa approval) Internet, mobile Originating bank can use SMS systems When offered to not on-us (off-us) senders must use Verified by Visa (VbV) to authenticate the sender for AFT transaction over Internet Originating bank must be VbV acquirer prior to implementing this VMT service over Internet
Money Transfer in CEMEA | February 2008 For Visa Bank Use Only Information Classification as Needed 15 Presentation Identifier.15

Technical requirements High Level

For Visa Bank Use Only

Original Credit VisaNet requirements

Original Credits are processed as credits coded with the MCC 6012 in SMS it is an 0200 message with Processing Code 26 in BASE 2 it is a TC06 with Transaction Code Qualifier 2 an optional OC pre-settlement message in VIP/SMS 0100 with Processing Code 26 Originating and Recipient Banks are advised to implement:
provides confirmation at the point of transfer supports OC checks against a list of blocked account ranges in VisaNet to receive the OCs supports OC check against a list of blocked cards, CRB etc.

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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Account Funding Transaction (AFT) VisaNet requirements

Funding Transactions are processed as debits follow the same flow in VisaNet as standard purchase debit coded with MCC 6012 in VIP it is an 0100 with Processing Code 10 in BASE 2 it is a TC05 with Transaction Code Qualifier 1 in SMS it is an 0200 message with Processing Code 10

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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Process Flow High Level

For Visa Bank Use Only

AFT-based Card to Account requirements

Offered at ATM, in-branch POS, Internet, mobile/phone Used mostly for credit bill payments Based on AFT transaction only
Sender confirms transfer details
Sender provides account details that will receive transfer funds and confirms transfer amount

Sender requests transfer

Sender provides their Visa card and PIN (if at ATM)

Restriction disclaimer
Sender informed that they can only send to an account managed by the Originating Bank

Sender agrees to transfer fee

Service fee is calculated and disclosed

AFT is sent

Transfer receipt printed

Receipt includes transfer and customer service details

AFT amount includes transfer amount plus service fee Transfer amount is collected from senders Visa card in another bank

Transfer Transfer receipt amount printed posted Transfer receipt AFT funds posted printed within banks
system

Restricted to transfers to accounts managed by the Originating Bank The service fee must be disclosed at the point of transfer and printed on the transaction receipt

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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Card to Card transfer requirements

Offered at ATM, bank-branch at POS, Internet, mobile Based on both AFT and OC transactions AFT is used only in case when transfer is funded from a not on-us Visa card
Sender requests transfer
Sender instructs bank to send money to Visa card and confirms funding mechanism for transfer

Sender KYCed
Sending bank performs appropriate AML due diligence as required by local laws

Sender confirms transfer details

Sender confirms recipients Visa card number, transfer amount and currency

Sender agrees to transfer fees

Service fee calculated and disclosed Sender confirm service fee and provides transfer funds

AFT sent

OC sent

Transfer Transfer receipt receipt printed printed

Receipt includes Transfer transfer and customerreceipt service details printed

Sent only in case when transfer is funded from not onus Visa card. AFT amount includes transfer amount plus service fee

OC 0200 message is sent and includes sender data

Domestic transfers in local currency only Customer registration programme is required for not on-us senders using the service over the non Face2Face channel The service fee must be disclosed at the point of transfer and printed on the transaction receipt

Money Transfer in CEMEA | February 2008

For Visa Bank Use Only Information Classification as Needed

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