Rajat Taneja Joins Visa Inc (NYSE:V) As Technology’s Executive VP

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Dallas, Texas 12/18/2013 (FINANCIALSTRENDS) – Visa Inc (NYSE:V) has made declaration about the appointment of Rajat Taneja as Executive VP of Technology. In this new character, Mr. Rajat will be accountable for the company’s worldwide technology function comprising growth and delivery of ground-breaking products, engineering and technology procedures crosswise the firm, as well as continuing research and growth.

Mr. Rajat will report straightly to Charlie Scharf, chief executive officer of the company.

Mr. Rajat becomes part of the firm from Electronic Arts where he was functioning as Chief Technology Officer accountable for the company’s international technology and investment verdicts, administration of platform engineering, data center procedures and worldwide IT.

Before Electronic Arts, Mr. Rajat spent fifteen years at Microsoft where he worked as Corporate VP of the firm’s commerce section that comprised the progress and deployment of Microsoft’s web commerce and service podiums behind Xbox Live, Windows handset, Azure, Office 365 as well as MSN.

Mr. Rajat is a bachelor’s degree holder in electrical engineering and an MBA from Washington State University.

“The company has a wealthy record of novelty and has established a payment system of unmatched performance at scale. I am proud to become part of a company, which carries on demonstrating leadership in worldwide electronic payments,” stated Mr. Taneja. “I couldn’t be more excited to join the group at this electrifying time.”

U.S. judge sanctions retail credit card charge settlement

A U.S. federal judge on Friday have given sanction to a projected $5.7 billion class action resolution between merchants and Visa Inc (NYSE:V) as well as MasterCard Inc over credit card charges in spite of objections from hoards of retail merchants who complained it was not enough.

The decision is said to be the biggest in a U.S. antitrust class deed.

Retail merchants first litigated Visa and MasterCard in the year 2005, charging the two well known firms of fixing the fees charged to merchants each time their clients utilized their credit or debit cards.

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