BANKING & FINANCE - Aug. 4, 1994
From Times Staff and Wire Reports
Visa Moves Toward Electronic Banking: Millions of consumers will be able to pay their bills over the telephone or through personal computers as early as fall following Visa International’s purchase of U.S. Order’s electronic banking operations. A new subsidiary, Visa Interactive, will market the system to the 16,000 banks, savings and loans and credit unions now on its network, said Visa, the world’s largest credit card company, with more than 343.6 million cardholders. Although some forms of electronic banking are available, this is the first with a national reach, Visa said.
