Visa International said its Asia-Pacific directors will not adopt a rule to prevent member banks from issuing competing card brands like American Express and JCB.

Visa's Asia-Pacific board, which met last week, is one of three regional boards to go that route. Only the Visa Canada board and that of the Cemea region - Central and Eastern Europe, the Middle East, and Africa - have not formally voted on an issue that American Express Co. has tried to bring to the attention of competition and antitrust regulators around the world.

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.