Visa began as the BankAmericard credit-card program launched by Bank of America in 1958.
BankAmericard debuted in Fresno, California, in September 1958. It was one of the first successful general-purpose credit-card programs, allowing customers to carry balances while merchants accepted payments through a shared card network.
The program expanded beyond Bank of America and became an international organization. In 1976, BankAmericard was renamed Visa, creating a more globally neutral brand. Visa later separated its card-issuing and payment-network activities from banks that issue Visa-branded cards.
Visa is often confused with the banks that issue its cards. Visa generally operates the payment network, while participating financial institutions issue cards, set account terms, and extend credit. Visa became a public company in 2008 through one of the largest initial public offerings in the United States at that time.