VISA is a global payments technology company that enables fast, secure and reliable electronic payments for consumers, financial institutions, merchants, governments and businesses in more than 200 countries and territories.
Visa is considered one of the best global brands according to the Millennium 2000 Top of Mind study by the Millward Brown agency.
According to the company, the name “Visa” comes from the Scandinavian word “vista”, which means “to see”.
Visa co-founder Dee Hock originally thought “Visa” was a nonsense word, so he defined his company as a “bridge between the old and new financial worlds.”
Visa is also one of the most recognizable brands in the world.
With 3.6 billion cards in the world, Visa is recognizable to almost everyone and has long stood for trust, security, acceptance and inclusion. These core values, in addition to the goal of enabling all people to participate in the global economy, are expressed through a modernized, dynamic visual brand identity developed by Mucho in collaboration with Visa.
VISA has never been known for major changes to its brand and identity.
From 1960 to today, we see only an evolution of identity whose purpose is to update and adapt to the context of the moment.
In this evolutionary process, the last update is from 2014, almost a decade ago. So it is in the environment of the digital economy that this rebranding, led by the Mucho San Francisco team, is anchored, although the scope of the project has involved all the agency’s offices. So the idea of the new logo is to enhance the visual identity on small screens and dynamic digital platforms.
The most significant change is the update of the Visa corporate blue; now clearer, but also more intense and vibrant. The wordmark leaves behind the dark blue gradient and opts for this lighter, solid blue (hex code: #2639c3).
Additionally, the company has unveiled a responsive logo that consists of three horizontal bars in Visa’s familiar blue, white and yellow. This icon is meant for small applications like favicon images.
According to the company, the new brand identity “symbolizes change.” As Visa, and indeed the entire world, contemplates a cashless future, it says the new brand has been designed with “inclusion” and “participation” in mind.
The new version of the Mucho brand separates the wordmark and the three-color brand symbol of the previous versions into two distinct elements. According to Visa, the three colors of the brand symbol represent the three goals of the brand: access, equality and inclusion.
Visa’s updated wordmark not only stands on its own, but also features a “new blue” that is brighter and more dynamic than its predecessor, the company said.
The launch of the new Visa logo comes alongside a brand repositioning and global advertising campaign led by marketing company Wieden + Kennedy. The new logo will initially be seen in digital channels, corporate communications and in presentation spots on Meet Visa.
According to the company, the Meet Visa campaign offers a “first look at the visual identity of the evolved brand that will launch later this year,” which will feature refreshed colors for greater digital impact, as well as “a source created specifically for optimal digital experiences and an updated brand icon that expresses the purpose behind the organization.”
During 2021, Visa’s new brand identity will be visible across the more than 200 countries and territories in which Visa operates.
The new Visa logo is just the beginning of more changes to come. For now, we will have to wait to see all the adjustments to the brand. We think we’ll see more in terms of marketing than a brand re-creation.
The new logo is in line with Visa’s new strategy. As the company announced, it will focus on making transactions and payments easier for everyone, everywhere, every day. As such, the new brand is expected to be more inclusive.
While the logo will not change the brand’s visual identity, it will allow Visa to more easily express its new purpose while providing a consistent representation across a variety of platforms.
The changes in the new VISA logo and the overall VISA 2021 rebranding (so to speak) were minimal and we can not really say that they will affect consumer opinion more or less. VISA is an established brand and a minimal color change will not generate more (or less) sales.
It’s possible to say that this rebranding is basically being done with the intention of generating a bit of hype around the brand, not much else.