Visa is the payment-network company founded in 1958 as BankAmericard that became one of the world’s largest companies by market capitalization.
Bank of America launched BankAmericard in California in 1958 as a credit-card program. The card expanded through licensing arrangements with banks in other countries. In 1976, the international network was renamed Visa, creating the globally recognizable brand used today.
Visa generally does not issue cards directly to consumers or provide most of the loans behind them. Banks and other financial institutions issue Visa-branded cards, while Visa operates the network that authorizes, clears, and settles transactions. This distinction separates Visa from many banks and helps explain its business model.
Visa is also different from Mastercard, its closest major rival. Both operate payment networks, but neither is the same as a card-issuing bank. Visa’s corporate headquarters are in San Francisco, and its shares trade under the ticker symbol V on the New York Stock Exchange.