Visa is the world’s largest credit-card network by purchase volume.
Visa operates a global electronic payments network that connects consumers, merchants, financial institutions, and governments. It generally does not lend money directly to cardholders; issuing banks provide the cards and extend credit.
The company traces its history to Bank of America’s BankAmericard, launched in California in 1958. BankAmericard became Visa in 1976 as the network expanded internationally.
Visa’s scale supports a high market capitalization, but its business model differs from that of a traditional bank. Visa earns fees for processing payments and providing network services, while card issuers typically receive interest and other lending-related income.