Visa, one of the world's largest market-cap companies, was originally launched by Bank of America.
Bank of America introduced the BankAmericard program in 1958 in Fresno, California. It was one of the earliest general-purpose credit-card programs, allowing customers to borrow for purchases at participating merchants rather than relying only on cash or store credit.
The program expanded beyond California and eventually became an international card network. In 1976, BankAmericard was renamed Visa, a short name designed to work across languages and national markets. Visa Inc. later became an independent public company.
Visa does not generally lend money directly to cardholders or issue most cards itself. Instead, it operates payment-network infrastructure connecting consumers, merchants, financial institutions, and governments. Banks issue Visa-branded cards, while merchants’ acquiring institutions process transactions. This distinction explains why Visa’s business differs from that of a conventional retail bank.