Visa is the largest publicly traded credit-card network and ranks among the world’s most valuable companies by market capitalization.
Visa operates a global payments network that connects consumers, merchants, financial institutions, and governments. It generally does not lend money directly to cardholders; banks and other issuers provide the cards and handle customer credit, while Visa processes payment transactions through its network.
The modern Visa organization grew out of Bank of America’s card program and became Visa in the 1970s. Visa became a public company in 2008 through one of the largest initial public offerings in United States history.
A common mix-up is treating Visa as a bank or comparing it directly with a card issuer. Mastercard is its closest network rival, while American Express combines network and issuing functions more extensively. Visa’s market value is based on its publicly traded equity, not the total dollar value of payments processed.