Visa became the first card network to exceed a $500 billion market capitalization.
Visa surpassed a $500 billion market value in 2018 as investors continued to favor electronic payments and the company’s asset-light network model. Visa generally does not lend directly to cardholders; instead, it operates a global payments network connecting consumers, merchants, financial institutions, and governments.
The modern Visa company grew from Bank of America’s credit-card program, which began in 1958. Visa became an independent public company through its initial public offering in 2008, one of the largest IPOs in U.S. history at the time.
Visa is often confused with banks and card issuers. A bank may issue a Visa-branded card and extend credit, while Visa supplies the network that helps authorize, clear, and settle transactions. Mastercard follows a similar network model, but the two companies are separate competitors.