In the wake of its sponsorship agreements with the Nascar racing circuit and Daytona International Speedway, Visa U.S.A. has signed a three-year promotional deal with the operator of the California Speedway and other racetracks.

The arrangement with Penske Motorsports Inc. of Fontana, Calif., designates Visa as the "official consumer payment product." Penske also operates the Michigan, Nazareth, North Carolina, and Homestead-Miami Speedways.

Visa's rights include advertising and on-track signage at the Penske properties.

"With this alliance, Visa enhances its motor sports presence and demonstrates its commitment to the sport, as well as to race fans everywhere," said Carl F. Pascarella, president and chief executive officer of Visa U.S.A. "As with our Nascar and Daytona partnerships, the exclusive 'Penske Prefers Visa' designation will allow member banks that issue Visa cards and merchants that accept Visa to tap into one of the most loyal fan bases in sports."

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