Visa Inc. operates the Visa brand but does not issue most Visa cards itself.
Visa runs a global electronic payment network that connects cardholders, merchants, banks, and other financial institutions. Banks and credit unions generally issue Visa-branded cards, while merchants’ acquiring institutions process transactions through the network.
The modern company developed from Bank of America’s BankAmericard program, launched in 1958. Visa became a separate public company through an initial public offering in 2008. Its business model centers on processing payments rather than lending directly to cardholders.
This distinction is a common source of confusion. A Visa card may carry a bank’s name and be issued under that bank’s credit terms, while Visa supplies the network infrastructure. Visa’s market capitalization reflects the scale and profitability of electronic payments worldwide.