Visa is a technology company specializing in electronic payment services. Used in over 200 countries, Visa is one of the most far reaching financial services corporation. Despite its ubiquitous namesake, Visa itself does not deal with consumers. Instead, Visa uses other financial institutions from banks to retail stores to provide Visa branded products to everyday consumers. The financial services Visa sell their services to then control many aspects of the credit debit, and other programs Visa facilitates such as the issuance of cards and setting of rates and fees.
Online Casino that Accepts Visa
With its headquarters located in Foster City, California, the advanced networks Visa uses processed 98.4 billion transactions in 2014 alone with a total volume of $7.4 trillion. That means that most players will be able to easily locate an online casino that accepts Visa as a method of deposit.
Visa was not always the massive corporation it is today. It began in 1958 when the Bank of America launched a credit card program BankAmericard. The idea behind BankAmericard was to simplify the many credit accounts with multiple merchants that a large percentage of Americans had into a single account. This would be far more convenient for consumers since one account meant one bill a month instead of several separate bills.
Bank of America and Visa Cards
Bank of America was not the first bank which had attempted something similar, but it was the first large bank and thus had the advantage of greater resources. Despite the goal initially being to offer BankAmericard to just Californians, Bank of America began licensing the card to banks in other states forming a network across the entire country.
In the 1970s changes occurred that changed both the state of BankAmericard and the entire credit card industry. With the new name Visa, BankAmericard shifted from being a part of Bank of America to being an independent entity. The new name was chosen by the founder, Dee Hock, who picked it for its universal meaning in several languages.
As a now independent entity, it was still in a different form than it is today. The company had completely separate branches for different regions including Visa U.S.A. Inc., Visa Canada Association, and Visa Europe Ltd., all of which belonged to the worldwide entity Visa International Service Association.
The 2007 Visa Merger
In 2007 all of these were merged to form the single entity Visa Inc. Today Visa keeps current with the ever changing needs of its customers with its extensive offering of payment services. Payments can now be made by card, smart phone, or computer in nearly every corner of the globe including the United Kingdom, and Canada. Constantly striving to deliver more secure and reliable transactions, Visa Inc. is leading innovative force in electronic payments.