VISA

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  • VISA (Visa International Service Association), is headquartered in San Francisco, California. It operates the largest retail electronic payment network in the world.

    It is not responsible for issuing credit, nor does it set interest rates.

  • Fast Facts

  • VISA Card History

    In 1958, Bank of America initiated a pilot program in Fresno, California, issuing unsolicited credit cards to 60,000 residents of that city. It was the first general purpose credit card initiated by a large American bank. The credit card was branded as the BankAmericard.

    By the end of 1959, more than 2 million credit cards had been issued throughout California.

    Starting in 1965, Bank of America began to license the BankAmericard to banks in other states. In 1968 the BankAmericard system was also licensed out to banks from Canada, France and the U.K.

    In 1970 the BankAmericard issuer banks in the United States took control of the U.S. credit card operations from Bank of America. International Operations were also spun off in 1974.http://www.visalatam.com/e_aboutvisa/acerca_historia.jsp

    The entity managing U.S. BankAmericard operations was National BankAmericard Inc. (NBI) and the international operations were managed by the company IBANCO.http://www.visalatam.com/e_aboutvisa/acerca_historia.jsp

    In 1977 BankAmericard operations in the U.S. and abroad came under a united corporate brand, VISA. NBI operated as Visa U.S.A. and Ibanco as Visa International.http://www.visalatam.com/e_aboutvisa/acerca_historia.jsp


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