Visa U.S.A. has become one of the principal owners of Integrion Financial Network, along with Bank of America Corp., Bank One Corp., and Washington Mutual Inc.
By increasing its capital investment in Integrion, Visa gained the right to vote on decisions concerning the direction of the home banking consortium. The amount of the investment was not disclosed.
Under an April restructuring, nine other institutions that were original owners and International Business Machines Corp. retain rights to become principal owners. Two of the 15 original bank owners, KeyCorp and Royal Bank of Canada, dropped out.
Visa has been a member since Integrion acquired the Visa Interactive home banking and bill payment processing service in August 1997.