Visa Inc is a US-based global payments solution company that facilitates digital payment among consumers, businesses, government entities, banks, etc. The company operates through the payment services segment, wherein entities can perform transactions. It facilitates global trade through the transfer of value and information among various stakeholders.
It offers debit and credit cards, prepaid products, global ATM and other commercial payment solutions. Its products and services are available on multiple devices such as cards, desktops, laptops, tablets and smartphones.
In 1958, Bank of America launched BankAmericard, a consumer credit card program for middle-class clients and small to medium-sized businesses. It was later rebranded as Visa in 1976. The company expanded internationally and introduced a debit card in 1975.
In 2007, Visa Inc was formed after merging regional businesses across the globe.
The company operates the payment processing network through VisaNet.
Various parties can be involved in a transaction using Visa cards, including merchants, clients, issuers like financial institutions., and the cardholder. The merchant could be an entity that accepts Visa. The acquirer is basically a financial body that enables the clients’ payments. The issuer is the financial institution that provides Visa cards and payment products, and the cardholder is the consumer or the business entity using Visa cards, etc.
Visa’s transaction network facilitates authorization, clearing and settlement of payment transactions. It offers a wide range of products, transaction platforms and value-added services to various financial entities. The company has operations in more than 200 countries.
The US-based company acquired Visa Europe in 2016.
Its revenue depends on total payments received, the volume of transactions and the number of cards in circulation. The company claims to have a robust infrastructure of providing products and services, including secure payment platforms, processing services available to close transactions, digital products and business-related products.
The company went public in 2008. It is listed on the New York Stock Exchange and trades under the ticker ‘V’.