The Green Sheet Online Edition
February 11, 2008 • Issue 08:02:01
Visa Inc.'s big debut
I was wondering if you had information as to when Visa was going to go public. Someone said that if anyone knew, it would be you.
Genesis Payment Solutions
When Visa announced plans to go public in October 2006, it estimated the entire process would take from 12 to 18 months.
In May 2007, it tapped Joseph Saunders, former Chief Executive Officer of Providian, to be Visa Inc.'s Chairman and CEO. About one month later, it filed a registration statement with the Securities and Exchange Commission, which outlined how it proposed to restructure and combine its global operations.
In October 2007, Visa Inc. announced completion of its restructuring, having received broad member approval for the series of transactions by which Visa Canada, Visa U.S.A. and Visa International became subsidiaries of Visa Inc. Visa Europe remains a membership association and will become a licensee of (and own a minority interest in) Visa Inc.
The company is not yet listed on the New York Stock Exchange. If Visa's initial estimate is still accurate, we could receive an announcement about its initial public offering by April. But that is only speculation.
Who's the best?
I enjoyed reading The Green Sheet and found it very informative. I have just one question. Is there a list of merchant service providers that rates the best companies against the less ethical? I'm looking for employment as an ISO, and I'm finding it difficult to sort them out. Any help would be appreciated.
I'm pleased to learn The Green Sheet has been helpful to you. While the Resource Guide published in each of our issues lists many ISOs looking for agents, we do not maintain a list that rates companies based on their business ethics, nor do we know of such a list.
The idea of creating this type of list has been discussed throughout the payments industry. We published "List conundrum: Bad blood blues or bona fide bad apples?" on Sept. 25, 2006, in issue 06:09:02. It discusses the pros, cons and logistics of listing problem merchant level salespeople (MLSs), as well as problem ISOs.
Also, members of GS Online's MLS Forum generously share their experiences working with companies in the payments industry. To post a question, you'll need to register, which can be done easily by clicking Register Today! in the upper right hand section of our home page and following the prompts from there.
Additionally, a good way to get a feel for the industry is to attend regional and national association events. Next up is the Southeast Acquirers Association meeting March 23 to 27, 2008, in New Orleans. For details and registration information, visit www.southeastacquirers.com.
Best of luck to you!
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