Visa Inc. began as Bank of America’s 1958 credit-card program under the name BankAmericard.
Bank of America launched the program in Fresno, California, distributing unsolicited cards to local residents in what became one of the first large-scale general-purpose credit-card experiments. The cards allowed customers to buy from participating merchants and repay balances over time.
The program expanded beyond California through licensing agreements with other banks. In 1976, participating institutions adopted the international Visa name, creating a brand that was easier to use across countries and no longer tied directly to Bank of America.
Visa is a payment network rather than a conventional bank issuing cards directly to most consumers. Banks and other financial institutions issue Visa-branded cards, while Visa provides the network that authorizes and settles transactions.