Visa’s predecessor launched in 1958 under the name BankAmericard.
Bank of America introduced BankAmericard in Fresno, California, in September 1958. It was one of the first general-purpose credit cards that allowed customers to carry a balance rather than paying the full amount immediately. The initial launch involved a large unsolicited mailing of cards, a practice later called a “drop.”
The BankAmericard system expanded through licensing agreements with banks outside California. In 1976, participating organizations unified under the international name Visa. The new name was intended to work across languages and national borders.
Visa is a payment network rather than a conventional bank that lends directly to most cardholders. It connects consumers, merchants, financial institutions, and payment processors. BankAmericard should not be confused with Master Charge, the earlier name of Mastercard.