Visa is at the centre of a cashless revolution more than 55 years in the making.
History of Visa
Visa’s journey begins in 1958, the year that Bank of America launched the first consumer credit card programme for middle-class consumers and small to medium-sized merchants in the US. It did not take long for the company to grow. The company expanded internationally in 1974, and introduced the debit card in 1975. In 2007, regional businesses around the world were merged to form Visa Inc and, in 2008, the company went public in one of the largest IPOs in history. In 2016, Visa completed the acquisition of Visa Europe. Today, Visa operates in more than 200 countries and territories with products and services available on any device – cards, laptops, tablets and mobile devices. We continue to evolve, but our focus remains the same – to be the best way to pay and be paid, for everyone, everywhere.
Bank of America launches BankAmericard, the first card with a ”revolving credit” feature.
Visa is born
BankAmericard becomes Visa – a name that sounds the same in all languages.
Meet Visa Inc
Visa forms a global corporation, while Visa Europe remains member-owned.
Bank of America launches BankAmericard, the first general-purpose consumer credit card in the form of a paper card with a US$300 limit.
National BankAmericard incorporates in Delaware as National BankAmericard Inc., led by founder, visionary and CEO Dee Hock.
National BankAmericard launches the first electronic authorisation system, followed by an electronic clearing and settlement system.
The International Bankcard Company (IBANCO) forms to administer the BankAmericard programme globally.
The first debit card is launched.
BankAmericard becomes Visa, a simple name that sounds the same in every language, identified by a blue and gold flag.
The first Visa Travellers Cheques are issued in four currencies.
Visa launches an automated teller machine (ATM) network, providing 24-hour “anytime, anywhere” cash around the world.
A new ad campaign heralds Visa’s evolution from a travel and business tool to a card for everyday use.
Visa develops multiple-currency clearing and settlement in 21 currencies.
Visa sponsors its first Olympic Games in Seoul, South Korea, and the Olympic Winter Games in Calgary, Alberta.
Visa adds electronic signature capability with the acquisition of Interlink.
Visa is the first to apply state-of-the-art neutral network technologies to payments aiming to reduce card fraud.
Visa Check Card debuts and Visa co-creates EMV, an industry chip card specification that ensures interoperability between all chip-enabled cards and terminals.
Visa’s first financial literacy programme launches. It is now in 20+ countries and has helped millions of people manage their money.
Visa’s total payments volume reaches US$1 trillion, a major milestone for the industry.
Visa reaches 1 billion issued cards and launches the Zero Liability policy, which protects cardholders from liability for fraudulent charges.
Visa’s total debit volume surpasses total global credit volume.
Visa introduces Advanced Authorisation, which analyses and assigns a risk score to every Visa transaction in real-time.
Visa’s total payments volume reaches US $4.4 trillion, surpassing the previous $1 trillion milestone set in 1997.
Visa restructures, creating a new global corporation, Visa Inc.
Visa launches the Visa mobile platform to speed up the adoption of mobile payments and value-added services.
The “V” ticker symbol appears on the N.Y. Stock Exchange as Visa becomes the largest initial public offering in US history.
Visa’s first global ad campaign celebrates how people everywhere need a better way to pay for the things they need and want.
Visa Checkout offers shoppers an easy and secure way to pay online with just a few clicks—on any device.