If any doubts remained about Visa's smart card strategy, the association began to quell them this week with the formation of a multinational Open Platform Users Group, five major U.S. banks among them.

The lead banks of BankAmerica Corp., Citicorp, First Union Corp., NationsBank Corp., and U.S. Bancorp joined about 20 other charter members, many of them previously involved in Visa smart card implementations.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.