Visa plans to restructure and float an initial public offering

to "accelerate its growth by improving organizational efficiency, addressing certain legal claims … and increasing access to capital." Chief rival MasterCard’s market value has climbed to $9.4 billion as its share price surged to $70 from $39 in May when it went public. Now owned by 20,000 financial institutions around the world, Visa plans to merge regional boards and create a stock corporation called Visa Inc.