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.
Pioneering payments from day one
Visa is at the centre of a cashless revolution more than 55 years in the making.
History of Visa
Milestones
1958
BankAmericard
Bank of America launches BankAmericard, the first card with a ”revolving credit” feature.
1976
Visa is born
BankAmericard becomes Visa – a name that sounds the same in all languages.
2007
Meet Visa Inc
Visa forms a global corporation, while Visa Europe remains member-owned.
Timeline
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1958
Bank of America launches BankAmericard, the first general-purpose consumer credit card in the form of a paper card with a US$300 limit.
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1970
National BankAmericard incorporates in Delaware as National BankAmericard Inc., led by founder, visionary and CEO Dee Hock.
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1973
National BankAmericard launches the first electronic authorisation system, followed by an electronic clearing and settlement system.
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1974
The International Bankcard Company (IBANCO) forms to administer the BankAmericard programme globally.
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1975
The first debit card is launched.
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1976
BankAmericard becomes Visa, a simple name that sounds the same in every language, identified by a blue and gold flag.
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1979
The first Visa Travellers Cheques are issued in four currencies.
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1983
Visa launches an automated teller machine (ATM) network, providing 24-hour “anytime, anywhere” cash around the world.
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1986
A new ad campaign heralds Visa’s evolution from a travel and business tool to a card for everyday use.
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1986
Visa develops multiple-currency clearing and settlement in 21 currencies.
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1988
Visa sponsors its first Olympic Games in Seoul, South Korea, and the Olympic Winter Games in Calgary, Alberta.
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1989
Visa adds electronic signature capability with the acquisition of Interlink.
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1993
Visa is the first to apply state-of-the-art neutral network technologies to payments aiming to reduce card fraud.
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1995
Visa Check Card debuts and Visa co-creates EMV, an industry chip card specification that ensures interoperability between all chip-enabled cards and terminals.
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1996
Visa’s first financial literacy programme launches. It is now in 20+ countries and has helped millions of people manage their money.
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1997
Visa’s total payments volume reaches US$1 trillion, a major milestone for the industry.
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2001
Visa reaches 1 billion issued cards and launches the Zero Liability policy, which protects cardholders from liability for fraudulent charges.
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2004
Visa’s total debit volume surpasses total global credit volume.
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2004
Visa introduces Advanced Authorisation, which analyses and assigns a risk score to every Visa transaction in real-time.
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2006
Visa’s total payments volume reaches US $4.4 trillion, surpassing the previous $1 trillion milestone set in 1997.
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2007
Visa restructures, creating a new global corporation, Visa Inc.
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2008
Visa launches the Visa mobile platform to speed up the adoption of mobile payments and value-added services.
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2008
The “V” ticker symbol appears on the N.Y. Stock Exchange as Visa becomes the largest initial public offering in US history.
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2009
Visa’s first global ad campaign celebrates how people everywhere need a better way to pay for the things they need and want.
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2014
Visa Checkout offers shoppers an easy and secure way to pay online with just a few clicks—on any device.
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Visa Inc. Completes Acquisition of Visa Europe.