Visa Inc. operates the Visa global card network but generally does not issue Visa cards or extend credit directly to cardholders.
Visa's history began with Bank of America’s BankAmericard program, launched in 1958. The system expanded through licensing and became Visa in 1976. Visa Inc. was created as a public company after the restructuring of Visa's association in 2007 and 2008.
Banks and other financial institutions issue Visa-branded debit, credit, and prepaid cards. When a customer pays, Visa's network helps authorize, clear, and settle the transaction between the issuer and the merchant's acquiring institution. The issuer and other participants generally handle the customer relationship and lending.
This network model is the key distinction from an issuer such as American Express, which operates more directly across multiple parts of the payment relationship. Visa's market value reflects the scale and economics of its payment network rather than ownership of customers' bank accounts.