Visa operates the Visa payment network used by cards issued by banks worldwide.
Visa began as Bank of America’s BankAmericard program, launched in California in 1958. The brand was renamed Visa in 1976 as the payment system expanded internationally and separated from its original bank identity.
Visa generally does not lend money to cardholders or issue most Visa cards itself. Instead, banks and other financial institutions issue cards, while Visa provides the network that authorizes, clears, and settles transactions between merchants and financial institutions.
Visa became a public company in 2008 in what was then the largest U.S. initial public offering. It is commonly confused with Mastercard, which performs a similar network role but is a separate corporation with its own brand and infrastructure.