Visa began as BankAmericard in 1958 before becoming the global payments network Visa.
Bank of America launched BankAmericard in Fresno, California, in September 1958. It was one of the first general-purpose credit cards issued to consumers, and the program later expanded beyond Bank of America’s direct ownership. In 1976, the international card program adopted the name Visa.
Visa does not generally lend money directly to cardholders in the way a bank does. Instead, its network helps authorize, clear, and settle electronic payments between merchants, financial institutions, and cardholders. Banks issue Visa cards, while merchants accept transactions through participating payment systems.
Visa became a publicly traded company in 2008 after the largest initial public offering in United States history at that time. Its market value reflects the scale of its payment network and transaction volume. Mastercard is a separate competing network, so the two names should not be treated as interchangeable.