Consumer Payment Card News

VISA IPO

Tomorrow will mark a major turning point in the payment card industry as all four card networks will become publicly traded. Expect lots of new perks and other incentives for using a specific card as the competition will ramp up to a level never seen before in the USA. VISA will start trading as “V” tomorrow on the New York Stock Exchange. VISA’s initial public offering (IPO) is expected to produce at least $15 billion and possibly as much as $20 billion. It could be the largest IPO in U.S. history and second largest globally. The proceeds of the IPO will mostly go to its bank owners and to settle litigation. For cardholders — strap on your seatbelts as the payment card landscape is set to blast off.

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