Visa, one of the world's largest payment companies by market capitalization, began as BankAmericard in 1958.
Bank of America launched BankAmericard in Fresno, California, in September 1958. It was an early general-purpose credit card program, allowing customers to make purchases on credit at participating merchants.
The program expanded beyond Bank of America's own territory through licensing agreements with other banks. In 1976, participating banks created Visa, giving the international card network a name that was not tied to a single bank or country.
Visa does not generally lend money directly to cardholders. Banks and other financial institutions issue Visa-branded cards, while Visa operates the network that helps authorize, clear, and settle transactions. This distinction separates Visa from many card-issuing banks.