Visa, a leading global payments company by market capitalization, was originally established in 1958 by Bank of America.
Bank of America launched the BankAmericard program in Fresno, California, in September 1958. It was one of the first general-purpose consumer credit-card programs, allowing cardholders to make purchases and carry balances rather than using cash for every transaction.
The program expanded through licensing to banks outside California. In 1976, BankAmericard was renamed Visa, creating a more internationally neutral brand. Visa later became a separate company and completed its initial public offering in 2008.
Visa is a payment network, not a conventional lender in the same way as a bank issuing a card. Banks and other financial institutions issue many Visa-branded cards, while Visa generally operates the network that authorizes, clears, and settles transactions. That distinction is a frequent source of confusion.