Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Visa Drive on Internet

FOSTER CITY, California -- Visa USA Inc., the U.S.'s largest credit-card association, said Wednesday it is creating a separate Internet unit, eVisa, in an effort to position itself as the currency of choice in the booming online marketplace.

The move by Visa, which already accounts for 52 percent of all online sales volume in the United States, is also aimed at boosting the electronic commerce capabilities of its banking members. It plans to develop the infrastructure and online standards for its members to enable them to compete aggressively for consumer dollars being spent online.

Visa USA will also provide an Internet payment gateway for merchants to process Visa transactions and will focus on strengthening security of online transactions.