Visa, Inc. history, profile and history video
Visa, Inc. is a global payments technology company that connects consumers, businesses, banks, governments and territories to fast, secure and reliable electronic payments. It operates processing networks, VisaNet, which offers fraud protection for consumers and assured payment for merchants. The company owns, manages and promotes a portfolio of well-known, widely-accepted payment brands, including Visa, Visa Electron, PLUS and Interlink, which it license to its clients for use in their payment programs. It offers a wide range of branded payments product platforms, which its clients, primarily financial institutions, use to develop and offer credit, debit, prepaid and cash access programs, as well as digital, mobile and e-Commerce platforms for their customers. The company provides transaction processing and value-added services to its clients through VisaNet, Visa Debit Processing Services and Visa Processing Services and promotes and enforces a common set of operating regulations adhered to by its clients to ensure the efficient and secure functioning of its payments network and the maintenance and promotion of its brands. It invests in new services and processing platforms to facilitate more convenient and innovative payment methods, such as mobile payments, money transfer and e-Commerce and continually improve the speed, efficiency, security and performance of its network and payments services to enhance the reliability of its global processing infrastructure and protect the security of cardholder information. The company was founded in 1970 and is headquartered in Foster City, CA.“
“History of Visa
Visa can trace its roots back to 1958, when the Bank of America launched BankAmericard, the first consumer credit card program available to middle-class consumers and small- to medium-sized merchants in the United States. It didn’t take long for the company to grow; the company expanded internationally in 1974, followed quickly by the introduction of the debit card in 1975.
Two changes took place in the 1970s that defined our organization and reshaped an entire industry. First, BankAmericard became an independent entity that was eventually united under a common global brand — Visa. Second, Visa launched VisaNet, the world’s first truly electronic authorization, clearing and settlement system, which enabled transactions to be completed in seconds.
These two milestones brought scale, security, reliability, and ubiquity to what was a fragile and fragmented business.
Visa continued to operate as a series of entities owned regionally by banks across the world until 2007, when the United States; Canada; Latin America and Caribbean; Asia Pacific, and Central Europe, Middle East and Africa regions merged to form Visa Inc. This company went public in March 2008 in one of the largest and most successful IPOs in history.
Today, Visa operates in 200 countries and territories and our products and services are available on any device – card, laptop, tablet, and mobile device. As we look to the future, we are tied to vision first envisioned by our founder Dee Hock – to be the best way to pay and be paid, for everyone, everywhere.”
*Information from Forbes.com and Corporate.visa.com
**Video published on YouTube by “VisaCardInc“