Visa operates the Visa network and was spun out of Bank of America’s card program.
Bank of America launched BankAmericard in 1958 in Fresno, California. The card program expanded through licensing and became an international network. In 1976, the organization adopted the name Visa, creating a globally recognizable brand for its payment cards and network.
Visa Inc. became a public company in 2008 after an initial public offering that raised about US$17.9 billion. The company operates payment-network infrastructure connecting consumers, merchants, financial institutions, and governments, but it generally does not issue cards or provide the credit on most Visa accounts.
That distinction explains a common misunderstanding: Visa is primarily a network, while banks issue Visa-branded cards. Mastercard has a similar network role, whereas American Express generally combines network and card-issuing functions in its own business model.