Visa plans to open a new office in Silicon Valley as part of its continued efforts to accelerate digital commerce globally. The new 62,000 square foot facility, located in Palo Alto, will be a combination of office and collaboration spaces for approximately 300 Visa employees focused on technology research, business intelligence, data security and merchant solutions.

“We continue to expand our research and development capabilities globally and are investing in facilities that enable our teams to collaborate in the creation of digital commerce solutions,” said Rajat Taneja, Executive Vice President of Technology, Visa Inc. “Our new Palo Alto office allows us to draw on the diversity of the Bay Area talent pool and build an even stronger connection with theSilicon Valley community of data scientists, engineers, entrepreneurs.”

The Palo Alto office is one of several new facilities Visa opened in the last year, including a new technology development center in Bangalore and innovation centers in Dubai, Miami, San Francisco, and Singapore, where clients and partners work side-by-side with Visa payment experts to build the next generation of commerce experiences. The company has also expanded existing technology development operations in Singapore and Austin.

The new office will broaden Visa’s footprint in the San Francisco Bay Area, adding to the company’s existing Foster City and San Francisco locations. Visa has had a presence in Silicon Valley since the early 1970s and currently has more than 3500 employees in the San Francisco Bay Area.

“Visa’s reputation as the leading team in the payments industry can be linked to our Bay Area roots and the access we enjoy to the cultural diversity, creativity and innovative mind-set of this region,” said Michael Ross, Executive Vice President of Human Resources, Visa Inc.

Visa was recently named to LinkedIn’s “Top Attractors” list. It has been recognized as one of the World’s Most Admired Brands by Fortune, Most Innovative Companies by Forbes, Most Ethical Companies by Ethisphere, and Best Performing and Most Respected Companies by Barron’s.