Visa operates the VisaNet network, one of the world’s largest electronic-payment systems.
Visa began with Bank of America’s BankAmericard program, launched in California in 1958. The card program expanded internationally and was later renamed Visa, creating a globally recognizable payment brand.
Visa generally does not lend money directly to cardholders. Banks and other financial institutions issue Visa-branded cards, while Visa provides the network that authorizes, clears, and settles transactions between merchants and issuers.
This distinction explains why Visa is different from many banks and from some card issuers. Mastercard also operates a payment network, while American Express commonly serves as both a card network and a card issuer. Visa became a public company in 2008.