Visa operates the VisaNet processing system and is among the world’s largest companies by market cap.
Visa provides payment-network infrastructure linking consumers, merchants, financial institutions, and governments. VisaNet authorizes, clears, and settles electronic payment transactions, although Visa generally does not lend money to cardholders in the way a bank or card issuer does.
The company’s history began with Bank of America’s BankAmericard program, launched in California in 1958. BankAmericard later expanded internationally and was renamed Visa in 1976. Visa Inc. became a publicly traded company in 2008 after a major initial public offering.
Visa is often confused with card-issuing banks. A bank may issue a Visa-branded card and set its credit terms, while Visa supplies the network that processes the payment. Mastercard follows a similar network model. Visa’s market capitalization therefore reflects the economics and expected growth of a global payments network, not a traditional deposit-taking bank.