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Visa creates Internet unit to market to banks

Published on .

Foster City, Calif.--Visa USA has created a new Internet division, eVisa, that will be dedicated in part to marketing to and servicing banks. eVisa will approach banks and assist them in building e-commerce platforms that use Visa cards. The division brings together disparate Internet-related corporate units under one umbrella. "We're changing our structure to reflect the new reality and pace of Internet-based commerce and its growing influence on banking," said Carl Pascarella, CEO of Visa USA, in a statement. Michael Beindorff, formerly Visa USA's exec VP-marketing, will serve as eVisa's president. Visa products already account for 52% of all U.S. online purchasing volume.
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