Visa operates the VisaNet global electronic payment system.
VisaNet is the company’s worldwide processing network for authorizing, clearing, and settling card transactions. Visa generally does not lend money directly to cardholders; banks and other financial institutions issue Visa-branded cards and manage customer accounts.
Visa became one of the world’s most valuable companies because its network connects consumers, merchants, banks, and payment institutions across many countries. Its business benefits from transaction volume rather than from owning stores or manufacturing physical goods.
Visa Inc. became a public company in 2008 in what was then the largest U.S. initial public offering. The familiar Visa logo may appear on debit or credit cards, but the issuing bank, not Visa itself, usually sets the account’s terms.