VISA MAY BE FORCED TO CHANGE ITS STRUCTURE, TOO.

Visa may be forced to abandon its association structure and become a public company as well if MasterCard's initial public offering succeeds, Dan Schatt, senior analyst for Celent, a Boston-based consulting company, tells CardLine. "I think it makes a lot of sense," Schatt says. "MasterCard will be under a lot of pressure to become innovative and profitable, and that will put pressure on Visa or it will lose market share." Indeed, Visa left the door open to the possibility that the rapidly changing business environment may cause it to change its management structure. Visa is a card association owned by banks, as MasterCard was until it incorporated in 2002. "Naturally, like …