Visa Incorporated is an international corporation based out off San Francisco, California. It is the largest operator of electronic retail payment, managing payments among financial institutions, merchants, consumers businesses, and government entities around the world. Before becoming public in early 2008 it was operated as a cooperative of 21,000 financial institutions. Visa now issues three types of cards: Debit cards (pay from a checking / savings account), Credit cards (pay monthly payments with interest), and Prepaid cards (pay from a cash account that has no check writing privileges).
The birth of Visa is very interesting. Bank of America originally launched a BankAmericard credit card in 1958 which eventually became international through partnerships with other banks. Soon, it grew so big that BankAmericard was given up by Bank of America and formed its own corporation by the name of NBI. This corporation managed the BankAmericard system within the United States, although Bank of America continued to develop the...click here to read the rest.
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