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Visa to boost contribution to U.S.-based employees' retirement plan

Reuters
A Visa credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration

(Reuters) - Visa Inc (V.N) said on Monday it would increase contributions to its U.S.-based employees' retirement savings plans as the world's largest payment processor benefits from a new tax law.

The company will increase its 401(k) match to 5 percent of salary, up from 3 percent, which will take effect in late February.

The contribution is applicable only to Visa's U.S. employees, but the company said it is exploring other global employee benefits and investments.

(Reporting by Nikhil Subba in Bengaluru)