Recommendation to the CEO on how to communicate about this business issue.

Krups

Introduction

-Visa is currently down
-We have to address our direct and secondary customers—banks and consumers
-What we’re going to do—need to act fast: -Social media- twitter -news releases online (top of search pages) -give end consumers points
-What happened: -operations at a third party supplier(?) went down -resulted in Visa going down across all of Canada
-although banks are our customers, end consumers are their customers
-need to address concerns of consumers to maintain relationship with them and to help our customers retain them
-how is what we’re going to do going to help our customers and consumers

Shuhe

Immediately:

- What is most important right now is getting our customers back online.
- Even though the fault of third party, the brand that is getting hurt is ours o Send our best team over to help address the problem as well as call in the technology specialist to send a team
- Communicating to the public o Release announcement that visa is trying its best to fix the problem o Important in staying in touch with each of the banks because they are the ones trying to process this information

Short term:

- Must realize that nowadays, everything goes viral so need to hold a press conference to address the issue and release information online about what happened o Address the twitter fiasco
 "Visa" to the top of the Twitter trending chart.
- Address the embarrassment of the end customers o Give them 2000 bonus reward points
 Equivalent to around 15 dollars
 Entice them to stay with MasterCard
 Only lose the money if they actually redeem
 Stagger the cost of this redemption
- Reconcile the