A successful business entity would always evolve itself to perform better. With its thirty plus years of industry presence, the Visa International has changed with time by incorporating a host of features to its credit and grown beyond a mere credit card company.
The famous blue, white and gold logo of Visa has earned a permanent place in the minds of its customers around the globe. This well-known logo has helped to build up the Visa brand that has become synonymous with acceptance, convenience, reliability, and security for its customers. Even then, visa’s decision of changing its brand mark makes us understand, the branding strategies, as well as company logos, need to evolve.
Why does a corporate logo need a makeover? Let’s examine it in the light of Visa experience.
It was the year 2005, and Visa announced that it will go for a brand makeover to give its logo a fresh look that goes beyond the thirty years old Visa logo famously comprising blue, white and gold hues.
First of all we will try to answer the question as to why did visa want this new look for its brand identification? The answer lies in Visa’s present magnitude of business where the company ceased to be a mere credit card company. During its thirty years long history it has acquired an enormous growth rate and evolved into a business entity that includes in its wings all types of electronic payment solutions.
The company wanted to get into a new brand that can efficiently reflect the broad range of payment products including debit, commercial, and small business credit cards offered by Visa International as well as its Member financial institutions. The brand should also reflect the ever-expanding environments in which Visa cards are accepted.
The new brand identity became necessary for reflecting these new age dynamic features to the best effect of the company.
The new Visa Logo
The new visa logo can be described as “crisp, clear and concise”. The new logo appears on a new, improved card format which allows a larger part of the front of the card to be used by the issuer’s own brand.
What the new Visa logo did for the company can be summarized in the words of Susanne D. Lyons, CMO, Visa USA.
“The Visa brand plays a critical role in connecting millions of cardholders and merchants. It’s a brand that resonates around the world and today we’re taking an important step that ensures our brand remains vibrant and relevant, positioning Visa for long-term growth,”.
“Visa has evolved beyond credit cards to become the world leader in electronic payments including debit, commercial, and small business credit cards. The new logo and card design reflect these changes, and provide Visa and our Members with the flexibility to adapt to new innovations like contactless cards, payment by cell phones and whatever the next new technology may be.”