[MSD1976]

Sorry what's the error?

Started by BankAmericard by Bank of America in CA only. They then franchised it to other banks in neighboring states, and eventually international banks (I believe under the BankAmericard brand, or under the other bank's brand). And then in the mid 1970s all the participating banks decided to rebrand under "VISA".

[option_greek]

Did Bank of America retain its original 0.5% agreement with the other banks when they spun off visa ? It seems odd that they would just give up an asset like that for other banks to own it.