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Visa Announces Plans to Conduct Own Stock IPO.

ATM & Debit News

| October 12, 2006 | COPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Visa yesterday announced a global restructuring that will lead to an initial public offering of company stock in 12 to 18 months, a move designed to prevent the card association's bank owners from being targets of merchant class-action lawsuits over interchange.

Visa, the world's largest payments company with annual worldwide sales volume of more than $4 trillion, would move from being a card association owned by major banks to a stockholder-owned business able to respond more quickly to the globe's changing payments' landscape, Visa says.

As a publicly traded company, Visa may be able to improve its future legal posture in fighting merchant lawsuits over interchange, although it will…

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Source: HighBeam Research, Visa Announces Plans to Conduct Own Stock IPO.

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