> Who owns ACH? The banks do. But they don't own Visa or Mastercard. Visa an... | Hacker News

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michaelleland on May 8, 2012 | parent | context | favorite | on: Dwolla is going to eliminate ACH

> Who owns ACH? The banks do.

But they don't own Visa or Mastercard. Visa and Mastercard do. And yet the banks play the Visa/Mastercard game.

mbreese on May 8, 2012 | [–]

Actually, the banks used to own Mastercard. It's now publicly traded (since 2006), but it was originally a cooperative owned by the participating banks.

ecopoesis on May 8, 2012 | | [–]

The banks also used to own Visa. It was originally called BankAmericard and changed its name when it became owned by a consortium of banks.

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