Who founded the Visa credit card network?

Dee Hock founded the Visa credit card network. He became the key organizer of National BankAmericard, the Bank of America-backed card program that later evolved into Visa.

Hock’s major contribution was not inventing the credit card itself, but helping transform a regional bank-card project into an independent, member-owned payment network. Under his leadership, the organization developed common rules and infrastructure so cards issued by different banks could work at merchants across geographic boundaries.

The BankAmericard name was replaced by Visa in 1976. Hock also championed VisaNet, the electronic authorization, clearing, and settlement system that helped make rapid card transactions possible. Visa describes him as its founder and later CEO emeritus.

A common mix-up is confusing Hock with the founders of earlier card businesses. Frank McNamara was associated with Diners Club, while Joseph Saunders was linked to the first general-purpose credit card account. Hock’s distinction is building the network that became Visa.