Visa, one of the world’s largest payment-network companies by market value, was named Visa Inc. when it became a public company in 2008.
Visa’s roots go back to Bank of America’s BankAmericard program, launched in 1958. The card system expanded internationally and was later managed through organizations that used the Visa name. Visa Inc. was created as the corporate structure for the global network before its initial public offering.
Visa’s business is often misunderstood. It generally does not lend money directly to cardholders and does not issue most Visa-branded cards. Banks and other financial institutions issue the cards, while Visa operates the network that authorizes, clears, and settles electronic payments.
Visa’s 2008 initial public offering was one of the largest in U.S. history at the time. The company’s brand name is Visa, but the legal corporate name is Visa Inc., a distinction that matters in historical and financial descriptions.