Visa Will Allow Pulse Logo On DebitCards

PURCHASE, N.Y. - (04/14/05) -- Visa USA said Tuesday it has amendedits rules to allow Pulse EFT Association's trademark to remain onVisa-branded debit cards. Visa had questioned whether the Pulse EFTmark could remain on Visa cards after Pulse was acquired by MorganStanley's Discover Financial Services, issuer of the Discover card,a Visa competitor. MasterCard International is looking into whetherthe Pulse logo can also appear on MasterCards. The issue with thecard associations arose because Discover is considering creatingits own signature-based debit card brand that will compete directlywith Visa and MasterCard. Visa rules prohibit a competing,signature-based debit brand from occupying the same debit card. Inmaking the announcement, Visa said it had to carefully weigh theinterests of its financial institution members that carry the PulsePIN-debit trademark. More than 4,100 financial institutions,including 1,700 credit unions, are Pulse members.