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Technology Stocks : CustomTracks Corporation (CUST)
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To: Tom Hua who wrote (2313)9/15/1999 8:23:00 AM
From: gringodoc  Read Replies (2) of 2514
 
A "small" player intensifies its efforts...

interactive.wsj.com

Visa USA to Form an Internet Unit,
Put Silicon Valley Officials on Board
By PAUL BECKETT
Staff Reporter of THE WALL STREET JOURNAL

NEW YORK -- Seeking to inject more Internet savvy into its banking membership, Visa USA Inc., the U.S.'s largest credit-card association, is forming a separate Internet unit that is expected to include some high-profile Silicon Valley players on its board.

The new unit, e Visa, is expected to be unveiled Wednesday and comes at a time when Visa and others in the credit-card business face an increasing threat to their dominance of Internet-based payments from the likes of AT&T Corp. and Microsoft Corp.

Visa expects to name to e Visa's board a handful of technology gurus to advise it on Internet strategies. Among those being considered are senior executives at Yahoo Inc., Sun Microsystems Inc., and Cisco Systems Inc., people familiar with the matter said.

"Visa management and the Visa USA board is taking a pro-active view because we know we can't rest on our laurels," said Carl Pascarella, chief executive of Visa USA. "We have to move ahead and make sure the relevancy of Visa and banks online is as strong as it is in the physical world."
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