Visa has started a global media agency review for the first time in seven years, according to reports.
During the payment brand’s previous review, Omnicom’s OMD retained the US account and added more international business, coming hot on the heels of a huge reorganisation at Visa in 2007.
Visa said in a statement: “Visa partners with some of the greatest agencies in the world to achieve our brand and marketing goals. As is the practice throughout our industry, we undertake regular agency reviews, and periodically decide to open parts of our portfolio to other firms to present their capabilities.
“We have decided to conduct an RFP for a global media agency partner and welcome the participation of our current agency and others in this process. We are planning for many exciting campaigns at Visa and look forward to developing and launching those efforts with an outstanding roster of agency partners.”
The news follows the announcement earlier this week that Antonio Lucio, who was appointed as the Visa’s first global chief marketing officer in 2007, is leaving the company to join HP in the same role. At the time of his leaving he held the position of chief brand officer.
Visa spent $113m on measured media in the US in 2014.
It was also announced today that spirits giant Bacardi has consolidated its global creative, media and digital accounts, handing OMD the planning and buying responsibilities across social, digital and media platforms.